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I am going to start a medical billing service company

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Author Topic: Advice  (Read 913 times)

dmelendez11

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Advice
« on: December 02, 2010, 07:09:34 PM »
I need some advice on how to start a medical billing company, any good ideas on how to get to talk to doctors to sign a contract. and How much did it cost to open a medical billing company? any good ideas or feedback will be appreciated.  :)

Thank you!

Michele

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Re: Advice
« Reply #1 on: December 03, 2010, 08:14:54 AM »
There are lots of places to go to get the information you are looking for, but no way for someone to put it all in a post here.  There are resources available at www.medicalbillinglive.com   

Also, there are many posts on this forum with marketing suggestions, etc. 

Good luck

Michele
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PMRNC

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Re: Advice
« Reply #2 on: December 04, 2010, 09:34:17 AM »
Michelle is right there are a lot of posts about starting up, but I'll take a stab at answering as best I can but keep in mind it will vary.
Startup costs in my experience run about $3000, to $5000 Some people purchase business opportunities that cost anywhere from $5000 to $15,000 it really depends on what you need. If you have experience and/or training you might need all of those extra bells and whistles a business opportunity can provide. Also keep in mind you have to really do your research to chose the right one. In my opinion I think biz op's have lost their appeal over the last few years due to all the scams and too-good to be true schemes. 
I run a network for medical billers both new and experience and I'm going to give you an HONEST fact that many don't want to hear. I see thousands starting out but only a couple of handful's of them really make it. Now to be fair, I think many drop out when they realize this is a VERY heavily regulated industry (state and federal) and the majority of those that get past that fact will drop when they see the start up costs and ONGOING costs associated with staying up-to-date in a very very fast paced industry.

How you succeed is really dependent upon YOU. You don't mention if you have experience, training, etc. So it's impossible to tell you how much you will spend to get started and it's also impossible to tell you how to market without really knowing more about your business. I don't suggest thinking about marketing until you have completely setup, done any training you need to do, software, etc.

This industry is a tough one to market, I won't lie, but there are many methods both tried and true that work, but the biggest selling point to doctors is experience and knowledge. Marketing YOURSELF is probably more important than marketing your business. You have to sell yourself.
Linda Walker
Practice Managers Resource & Networking Community
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