Author Topic: I think I'm ready to start!???  (Read 1519 times)

ASHDYE

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I think I'm ready to start!???
« on: April 30, 2013, 08:16:06 PM »
Instead of asking a billion questions about a few concerns I'm having...I might as well ask them all in this one forum. Feels like I made it to the end to start digging for clients now...I hope!

1.) Do I really need liability insurance? If so, why?
I called my home owners insurance company to check since I'm doing this out of my home, and they don't think I need it since my contents are worth that much.

2.)Where can I find the rules and regulations for local and state about billing and coding in my state?
I'm trying to be aware of anything I should know.

3.) Do I really need a lawyer to look at my contract?
I actually put my own contract together...read a few books, researched a lot, and came up with a 5 page contract that SEEMS like it consist of everything. I am trying to avoid paying a lot of money, so if I do need a lawyer...how much do you think and what will he be able to do since I already did most of the work?

4.) Where can I find a BAA?
From what I researched, u can probably print a BAA out from anywhere since they all consist of the same info. will this be for the Client also?

5.) Where can I find a step-by-step check list to "starting your own billing and coding business at home"?
I need to make sure I have everything !

PMRNC

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Re: I think I'm ready to start!???
« Reply #1 on: May 01, 2013, 07:01:12 AM »
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1.) Do I really need liability insurance? If so, why?
I called my home owners insurance company to check since I'm doing this out of my home, and they don't think I need it since my contents are worth that much.

You will get different opinions on this, ultimately it's of course safer to invest in errors and omissions insurance which protects you from what it says, errors/omissions.  Billers / billing companies hold the same liability as the provider in submitting claims, keep that in mind when you decide. IF you are in any way doing coding then I couldn't hesitate to tell you to get the E/O immediately.  I don't do coding however I still have errors and omissions insurance.


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2.)Where can I find the rules and regulations for local and state about billing and coding in my state?
I'm trying to be aware of anything I should know.

You will just need to research your state and business guidelines, often certain industries will be listed if there are additional registration requirements. For example in NJ, all third party medical billing companies IN and working in the state of NJ must be registered with the state dept. We would know this from going to the NJ business portal.


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3.) Do I really need a lawyer to look at my contract?
I actually put my own contract together...read a few books, researched a lot, and came up with a 5 page contract that SEEMS like it consist of everything. I am trying to avoid paying a lot of money, so if I do need a lawyer...how much do you think and what will he be able to do since I already did most of the work?

Again, this is your choice, however I would have to ask WHY wouldn't you have it looked at a lawyer. My attorney works on retainer so not only is he there for my contract, he's there to support the contract with each client in case anything comes up. You could also look into prepaid legal services which are fairly inexpensive.  Trust me you can save costs elsewhere but this wouldn't be the one I'd skimp on JMHO

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4.) Where can I find a BAA?
From what I researched, u can probably print a BAA out from anywhere since they all consist of the same info. will this be for the Client also?

http://www.hhs.gov/ocr/privacy/hipaa/understanding/coveredentities/contractprov.html    Just make sure that you "COMPLY" with said BAA, anyone can print something and slap their name on it. MAKE sure you understand all of what's involved as a Business Associate under HIPAA and are up-to-date with latest including the Breach Notification with HIPAA II / HITECH           ****Do you have a compliance plan*****    If not this is good idea to do as it will  help you structure your business so that YOU ARE indeed Compliant and not just able to say your compliant. A compliance plan is something every third party billing company should have. You can look on the OIG website for guidelines on compliance plans for third party medical billing.


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5.) Where can I find a step-by-step check list to "starting your own billing and coding business at home"?
I need to make sure I have everything !

I don't think "ONE" such list exists.   PMRNC has a members only area with just about everything you've mentioned above and much more. You can visit the site by clicking on the link in my signature. We also have an area where we can give you step by step guidelines on creating your contract, our getting started area has a pretty thorough area on all the things needed when starting. We even show you how to demo your software and give you tools on how to choose the right one.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

williamportor

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Re: I think I'm ready to start!???
« Reply #2 on: July 02, 2013, 01:16:47 AM »
The subject of when you're ready to start is much like the chicken and the egg. Some education, basic equipment, software, contract etc. is required of course, but just remember this: If you wait until you're 100% ready, you NEVER will be. Sooner or later you have to take that plunge off the diving board, market your services, and start billing. Laying a solid foundation for your business is a smart idea, but don't get trapped in the "paralysis of anaylsis" or you won't get past square one!  ;D   
« Last Edit: July 02, 2013, 01:23:16 AM by williamportor »

PMRNC

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Re: I think I'm ready to start!???
« Reply #3 on: July 02, 2013, 09:19:14 AM »
Quote
The subject of when you're ready to start is much like the chicken and the egg. Some education, basic equipment, software, contract etc. is required of course, but just remember this: If you wait until you're 100% ready, you NEVER will be. Sooner or later you have to take that plunge off the diving board, market your services, and start billing. Laying a solid foundation for your business is a smart idea, but don't get trapped in the "paralysis of anaylsis" or you won't get past square one!  ;D   

Great advice.. many if not all of the mistakes made are trial/error.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com