Author Topic: Redundant Questions: About starting a New A/R Company  (Read 1694 times)

Simonecunnin

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Redundant Questions: About starting a New A/R Company
« on: December 03, 2012, 01:03:04 PM »
Hi all I am new to this forum. I have over 10 years of experience and love, love, love, working A/R. I am going to take the CPC exam early next year. I am currently assisting a friend of mine (she has her own billing company) work her A/R accounts. I am really interested in getting my own business started but I do want to concentrate on the A/R, as I find over the years a lot of people hate it and some billing companies do not alot the needed time and attention to their client's A/R. I did go through the check list found on the forum which was really healpful. I was wondering if anyone has any suggestions, hints, word of advise, books to read, forums to join etc. Any and everything that you feel will help is welcomed. Oh I may concentrate on a specialty orthopeadic hand surgery as this is where I gained most of my experience.

PMRNC

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Re: Redundant Questions: About starting a New A/R Company
« Reply #1 on: December 03, 2012, 04:09:46 PM »
You just want to deal with A/R ? In what aspect.. collections? clean up? do you want to operate as a collection service? I'm not really understanding exactly what your after. If you have experience with medical billing certainly doing A/R cleanup or analysis can be an add on service, but frankly, I'm not sure why you would want to only do this as a stand-alone service since most billing companies are able to provide this and it really should be included with full practice management services.  I do know a lot of medical billing companies that START out using this service to get their foot in the door, but again, I'm not really certain there is a market for this stand alone service, UNLESS you are looking to go into collections?
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

Simonecunnin

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Re: Redundant Questions: About starting a New A/R Company
« Reply #2 on: December 04, 2012, 09:35:50 AM »
Yes. Collection and clean-up I think there is a lot of money lost when the A/R is not handled properly....I am currently in PA, working with worker's compensation and motor vehicle cases, my current employer moved from receiving 5,000.00 to 10,000.00 weekly to 50,000.00 to 60,000.00 weekly with just cleaning up the A/R. The laws here for workers compensation can be quite complicated and requires knowledge, great orginizational skills and sometimes a good lawyer. However you are the expert and your advice will be appreciated.

PMRNC

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Re: Redundant Questions: About starting a New A/R Company
« Reply #3 on: December 04, 2012, 12:29:09 PM »
Ok, I think I understand you better. IMHO to make it you will want to setup a collection service/agency/company  this will require researching your state collection laws, along with the federal laws on consumer credit and you will want to get a surety bond to give you that one extra edge. If you don't actually provide the "collection" services I think you'll find your market value will decrease, because again, many billing companies can and should be performing this additional step. In setting up a collection company you will have an edge as you can offer FULL collection services along with a specialty for WC, PI, etc.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

Simonecunnin

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Re: Redundant Questions: About starting a New A/R Company
« Reply #4 on: December 04, 2012, 02:46:25 PM »
Wow, thank you so much that I will start researching that ASAP. Would I also be able to practical marketing skills from your book?

P.S Sorry if that question sounds silly just wanted to know if your book will be able to help me (Now that you have an idea of the business I want to start) with marketing, as all the comments here pertain to a billing company.

PMRNC

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Re: Redundant Questions: About starting a New A/R Company
« Reply #5 on: December 04, 2012, 03:03:37 PM »
I don't have a book.. I think you mean Alice and Michele's books? I'm just a little ol moderator here :)     
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

Simonecunnin

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Re: Redundant Questions: About starting a New A/R Company
« Reply #6 on: December 04, 2012, 04:33:18 PM »
Well you should have one ;) Yes I meant Alice and Michele's book or any book you recommend or is willing to recomment that can give me marekting tips. I have signed up with SBA.

PMRNC

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Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com