Author Topic: What should I focus on?  (Read 1429 times)

imperial

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What should I focus on?
« on: February 07, 2012, 01:34:20 AM »
Hello,

I am relatively new to this forum.  I decided over a year ago that I needed a carrier change and am currently on the road to starting my own billing company.  I am enrolled in a business plan course and also studying billing and coding.  I have worked in the insurance industry, mostly customer service.  I am finding that though some aspects appear straight forward, I am behind the curve with regard to actually owning a billing company. 

I am determined to learn what I need to know and do my best to be successful but I am finding myself going in a million directions.  Could anyone offer a bit of guidance as to what I should focus on at this stage of the game?  (I have purchased and am studying the Business in a Box.  Awesome resource!) 

Thanks everyone. 

PMRNC

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Re: What should I focus on?
« Reply #1 on: February 07, 2012, 07:49:00 AM »
It is very overwhelming and I know where your coming from. It's hard to decide what to do first. ;)  Getting a good business plan in place is probably the best first step as you can layout all the steps and stay on track.  Once you have that together it cannot hurt to get a marketing plan in place as well. It's also a good idea to get involved with organizations and networking groups which will help you stay on top of the latest trends and changes in the industry. You will also want to check out business licensing requirements in your county, state requirements and of course the good old Tax regs :) knowing how you want to structure your business tax wise will also help you determine the direction and goals of your business.  All of this combined with getting your equipment, software, training, books, compliance plans, fee structures, attorney/contracts, etc will ensure you will be ready when you open your doors. Remember to go slow and not get too overwhelmed. Slow and steady wins the race.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

imperial

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Re: What should I focus on?
« Reply #2 on: February 07, 2012, 12:11:59 PM »
Thank you.  I appreciate that.  I am sure you know, it's not just about knowing how to bill and code.  You have to have a grasp on the business aspects of it as well.  I am trying to arm myself heavily so that I have a GOOD start not just in what I can offer but building a strong foundation so the business doesn't crumble once I get started. 

Any advice is WELCOME AND APPRECIATED.   :D

Michele

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Re: What should I focus on?
« Reply #3 on: February 14, 2012, 10:43:18 AM »
You are correct, it is not just how to bill and code.  I started out with insurance carrier experience as well and was surprised at how much I DIDN'T know!  Sounds like you have a good plan to start out.  Don't let yourself get discouraged easily.  It is not always smooth sailing!
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