Author Topic: Marketing New Medical Billing Company  (Read 17668 times)

SnyderKristine

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Marketing New Medical Billing Company
« on: February 17, 2014, 05:28:08 PM »
Hi All,

New to the forum. And I am really impressed to see people sharing valuable information here.

My Question:
I am starting a new medical billing company. I have decided a list of services and the pricing strategy. The website is also under construction.

What possible methods should I use for marketing my business, online or traditional methods? What do you guys think?

Merry

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Re: Marketing New Medical Billing Company
« Reply #1 on: February 17, 2014, 06:22:26 PM »
The most important thing I think is to consider what you are selling..Yourself..so before you think of how you are going to market, I think you need to think about what you are going to market. YOU!!

Are there networking opportunities in your community? I would start there and make a list of them..Chamber, medical organizations that may have monthly meetings, Medicare seminars..You will get much advice here and you can also do a search using marketing as the search word. This has been discussed many times and very recently.

Good luck in your new venture.

Perhaps others can share what did not work for them.

Merry

SnyderKristine

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Re: Marketing New Medical Billing Company
« Reply #2 on: February 18, 2014, 09:26:37 AM »
Thanks Merry!

I think I will market myself. I have been in this field since my first job. I worked for a medical billing company for three years and handled different specialties: Internal Med, Ambulatory, Family Physician and Dermatology.

My basic amusements are how should I start marketing?
What marketing aids or colaterals I would need to market?

And most importantly
Where would I get the data from?

Guys please help..

Merry

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Re: Marketing New Medical Billing Company
« Reply #3 on: February 18, 2014, 10:46:47 AM »
I would not spend tons of money on collateral materials. If you decide to do a mailing, oversized postcards will get read faster than a brochure in an envelope. But, everything must be professionally done. Try going to your local community college and talk to the graphic design instructor and see if they would take your materials as a class project.
And remember, mailings without followup is fruitless. I prefer networking and allowing people to see you. And mailings often to not get to the decision maker anyway.

Merry

Michele

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Re: Marketing New Medical Billing Company
« Reply #4 on: February 18, 2014, 12:11:28 PM »
My basic amusements are how should I start marketing?
What marketing aids or colaterals I would need to market?

The aids will depend on what methods you chose to use.  You should have something to leave with them if you are doing any in person marketing.  A brochure, or a well done business card that contains a lot of info (I'm big on using the back of the card).  You want them to remember why they got your card.  Your card should do a little bit of talking for you. They are small but you can pack quite a little well worded info!

There are many ideas/suggestions in past posts on this forum.  Search "Market" or "Marketing".  Too many to repost.

Social networking is one of the most powerful methods.  Joining the Chamber of Commerce, networking groups, Rotary, or any other local or national groups that medical providers are likely to be in.


And most importantly
Where would I get the data from?

Not sure what data you mean? 
« Last Edit: February 18, 2014, 12:17:55 PM by Michele »
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AnthonyMBA

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Re: Marketing New Medical Billing Company
« Reply #5 on: February 20, 2014, 08:29:24 PM »
SnyderKristine-

What possible methods should I use for marketing my business, online or traditional methods? What do you guys think?

The reality today is that most paper media delivered by mail will rarely reach the decision maker. This is especially true for newly licensed doctors that tend to be less "digital-phobic." Paper media, blast emailing, and cold-call prospecting have a low client acquisition rate and may not be the best use of your time and $$$.

Online methods are the way to go. By maintaining updated business profiles on Facebook and LinkedIn, for instance, and having a well-maintained website, you have an established online presence where others can find you and you can share your knowledge, value, and experience to prospective clients.

To further expand your reach, grow your network of contacts on Facebook and LinkedIn by connecting with individuals and professional organizations. You can also post on behalf of yourself and your business on a regular basis. This way, you maintain a steady stream of visitors to your profiles.

You can purchase ads on Facebook and search engines like Google and Bing that will display an ad for your business (with link to your website) when users in your business' geographic area search for specific keywords.

The most important thing I think is to consider what you are selling..Yourself..so before you think of how you are going to market, I think you need to think about what you are going to market. YOU!!

You also need to keep in mind that when a prospective client searches "medical billers" in your area, they are going to be bombarded with results. There are billers everywhere and when you look at their websites, they all look and sound the same. Take a look for yourself..."We specialize in everything", "We utilize the best technology", "You will have the fastest turnaround time", "We are different than everyone else"... The most important thing to do is figure out how to stand apart and differentiate your business from the competition. 
« Last Edit: February 20, 2014, 08:50:06 PM by AnthonyMBA »
Anthony D'Oronzo, MBA, CPC
Medical Billing and Practice Management Consultant
www.TheBillingGuy.com
Add me to your professional network: www.linkedin.com/in/anthonydoronzo

PMRNC

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Re: Marketing New Medical Billing Company
« Reply #6 on: February 21, 2014, 09:20:25 AM »
Quote
The reality today is that most paper media delivered by mail will rarely reach the decision maker. This is especially true for newly licensed doctors that tend to be less "digital-phobic." Paper media, blast emailing, and cold-call prospecting have a low client acquisition rate and may not be the best use of your time and $$$.

I don't agree at all. I think it really depends on your branding and packaging of those materials. Paper is in front of you without having to go to the computer, it's your first impression and if you do it right it's the most successful. And of all the contacts I've had from direct mail all of them make it where I want it to go. I don't try to get around the office managers, or billers, quite the contrary. I market myself as an extension on them and let them take the reigns and call the shot. Let them be the hero. I always do brightly colored packaging addressed to either the provider or the office manager ( I do both). I think the internet is great backup for marketing and is like a second backup. The other day I got the coolest mailing from a tax company here in my area with a QR code to scan to see special savings, now I didn't need a tax company but they peaked my curiosity so I scanned it with my Iphone and was really surprised to see I got a free federal refund with purchase of state tax preparation.  My returns are pretty involved so this was a great deal. Their website was beautifully done and the owner himself answered the phone. Yes I have a tax guy now. LOL,  My point is that his mailing made his first impression on me, I visited his site because of the good first impression and he grabbed my attention and curiosity AND I wasn't even in the market for a tax guy!

I really believe the marketing efforts you put forward need to match the goals of your business. Obviously direct mail may not be the way to go if you plan to aquire a lot of accounts at once, have a large business, etc. My goal was never to take on more than I could personally take care of as that was what physicians really worried about. Would they get lost in the shuffle if the company got big. One of my best clients was with a billing company when they started and within 2 years they grew to the point they could no longer give the client the personal service they were used to. I'm not talk hand holding or anything difficult, he just likes picking up phone and having ME answer ..it's the little things that keep small businesses alive. Your marketing efforts need to match the goals of your business. Every business is different but you can make any marketing campaign pay off.

I don't agree that postcards are better, I look at postcards as a "cheap and lazy" means. I think they could work for promotions or specials but not for actual client marketing. You can't make a full on impression with a postcard. In fact you need to grab them in 30 words or less which is rather difficult.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

AnthonyMBA

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Re: Marketing New Medical Billing Company
« Reply #7 on: February 21, 2014, 10:50:57 PM »
Quote
I don't agree at all. I think it really depends on your branding and packaging of those materials. Paper is in front of you without having to go to the computer, it's your first impression and if you do it right it's the most successful. And of all the contacts I've had from direct mail all of them make it where I want it to go.

Thank you for sharing your experience and I wholeheartedly agree with you that branding is everything. I will try to give direct mail a more fair shot when discussing marketing strategy to clients (as well as my own) :)

I was speaking from my own personal experience with clients. In addition to the medical billing company that I worked at for a number of years, I spent a few months consulting for a large urology group's medical billing department. At both sites, advertisement mailers were routinely tossed without a second thought. The clients that I tend to attract now are recently licensed physicians that work in a non-office setting. Most have found me through networking sites such as LinkedIn and prefer to correspond with me via the tablets that never leave their side.

The healthcare industry is slowly working towards a goal of becoming completely paperless. Demographics capture and procedure documentation can be done from a tablet. Transcription and coding can be done electronically. Charges can be sent electronically and revenue can autopost. The process isn't anywhere near perfect, but it's working towards it. I believe that branding and other marketing efforts should match changing societal and operational trends.

I'll get off my soapbox now :) I read and learn from your comments regularly and am glad that I found this site. I started my business because the healthcare industry and its competitive environment is changing. Many established medical professionals and billing organizations are struggling to keep up and many newly licensed physicians are struggling to grasp the complexities of the business environment they will be working in.
Anthony D'Oronzo, MBA, CPC
Medical Billing and Practice Management Consultant
www.TheBillingGuy.com
Add me to your professional network: www.linkedin.com/in/anthonydoronzo

Merry

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Re: Marketing New Medical Billing Company
« Reply #8 on: February 21, 2014, 10:59:46 PM »
Thank you for joining us and for your detailed contribution.

Merry

williamportor

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Re: Marketing New Medical Billing Company
« Reply #9 on: February 22, 2014, 01:44:44 PM »
Hi All,

New to the forum. And I am really impressed to see people sharing valuable information here.

My Question:
I am starting a new medical billing company. I have decided a list of services and the pricing strategy. The website is also under construction.

What possible methods should I use for marketing my business, online or traditional methods? What do you guys think?

I can answer that in 4 words: "Pick Up The Phone" It's not very fun sometimes, but if you have unlimited long distance phone service, get on yellowpages.com and start cold calling. It works for stockbrokers, as well as insurance and real estate agents, and it's a lot less expensive than direct mail or other forms of advertising. Don't be afraid to leave messages on their VM's. Sales is a numbers game, and if you happen to be the medical biller offering your services to a clinic when they are looking for one, there is a good chance you'll get their business. :)
« Last Edit: February 22, 2014, 01:50:18 PM by williamportor »

PMRNC

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Re: Marketing New Medical Billing Company
« Reply #10 on: February 22, 2014, 02:28:12 PM »
Quote
I can answer that in 4 words: "Pick Up The Phone" It's not very fun sometimes, but if you have unlimited long distance phone service, get on yellowpages.com and start cold calling. It works for stockbrokers, as well as insurance and real estate agents, and it's a lot less expensive than direct mail or other forms of advertising. Don't be afraid to leave messages on their VM's. Sales is a numbers game, and if you happen to be the medical biller offering your services to a clinic when they are looking for one, there is a good chance you'll get their business. :)

A lot of people HATE getting on the phone and I was one of them, however I knew I had to get over that fast. What I did was go through the phone book and started by calling the largest offices I could find ..by the time I got to the smaller ones, I was feeling pretty confident!
OH .. and the biggest mistake people make when calling is trying to get around the office manager and insisting or leaving the message for the physician. Not going to happen.. that's why they are called the "gate keepers".  If you can get them to talk, complain, or find some common ground of conversation you will get an in. Remember to always include them and NOT try to bypass them or they will see you as a threat. 
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

tallmanusa

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Re: Marketing New Medical Billing Company
« Reply #11 on: February 23, 2014, 12:08:04 PM »
I think Anthony MBA has given an excellent synopsis. The methods used to market in the yesteryear are like old newspapers, and like newspapers they will be replaced. I don't think I could have said any better than Anthony. Those who don't embrace the new technology will go into oblivion.

Marketing billing business has little to do with billing, it has everything to do with knowing the new media.

There is one exception, if you have been in business a long time, you should have a client base, which can grow, you should not need any marketing.

Whether you have one client or a thousand clients the methods don't change.

And all this about marketing "you " is absolute waste. The doctors don't care if you are a cockroach or a robot. (actually many would prefer to deal with robots).  They only care about two things; price and quality of what they can get for their money. If a cockroach can deliver what they want they would be just as happy.

This having said, references are the life and blood of this business. In our first year, we signed up about 50 clients. Not one of those signed up without references, and we never met with any of them; booked on the phone and online. You have no references, you have no business; you have no business, you have no references. Unless you can break that, you will be waiting for a client.

When we started, we partnered with an established company and used their references, until we developed our own.

PMRNC

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Re: Marketing New Medical Billing Company
« Reply #12 on: February 23, 2014, 12:55:34 PM »
Quote
I think Anthony MBA has given an excellent synopsis. The methods used to market in the yesteryear are like old newspapers, and like newspapers they will be replaced. I don't think I could have said any better than Anthony. Those who don't embrace the new technology will go into oblivion.

I completely 100% disagree. I still sit down EVERY Sunday morning with a real newspaper and many others do as well. ( I think I like the black ink on my fingers)
I also think, like the newspaper, there are still so many wonderful physicians out there that appreciate the tried and true, the small business without the big business which in most cases diminishes quality customer/client relations. There's no disputing that. I've talked to so many physicians who have gone with big businesses only to state the same thing over and over, they got lost in the shuffle. There is a HUGE medical billing company in the northeast ( I won't mention names or the state, but those in the north east know who I'm talking about) they spend such big money on advertising and there's no doubt they are racking in the clients..but guess what.. their clients will not STAY. Every one of their clients had the same experiences and can tell you why they went with them to begin with...starting with their CHEAP pricing method. On the average I watch time and time again the smaller billing companies scoop up the clients this huge company discards like nothing. I work with medical billers every day and the larger ones are getting the clients while the smaller ones are keeping them. To me that says a lot and it's not really disputable.    MARKETING is about GETTING... REAL marketing is tried and true and is all about KEEPING the client. Anyone can get clients and spend a fortune to do so, but they don't keep them.

Quote
Marketing billing business has little to do with billing, it has everything to do with knowing the new media.

Your wrong again.. very wrong. The ones who market themselves and their education, experience and knowledge KEEP the clients they obtain. How can you market any business w/out producing your talents??? YOU can't.. your only going to GET The clients on the hook, reel em in, gut them and lose them. How you can say it has little to do with medical billing blows my mind.  Again, I'm not saying your big digital marketing boom doesn't work, I'm saying that GETTING a client is the easy part.. KEEPING them is harder and you will ONLY Gain them by your marketing edge, you won't keep them w/out knowing what you are doing. And you can't service the client in the manner a small business can, that's a fact you can't dispute.   I have seen so many with $$ in their eyes, their big plan to hire and let everyone else do the work while they just rake in the dough.. it's almost always short lived. The small business, they are the heart of the industry because they care. They don't NEED big media blasts when they have something so much more valuable..their own education and experience.


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Whether you have one client or a thousand clients the methods don't change.

That's not possible .. There IS a big difference in the company with one client and the company with 1000. I know billing companies with just a handful of clients (HAPPY clients) they have had for years that do very well.

Quote
And all this about marketing "you " is absolute waste. The doctors don't care if you are a cockroach or a robot. (actually many would prefer to deal with robots).  They only care about two things; price and quality of what they can get for their money. If a cockroach can deliver what they want they would be just as happy.

Where do you think quality comes from? I think that statement is an absolute insult to physicians. YES pricing is always on the front line.. offshore especially, until the doctor gets burned.. OH and they do get burned.. but I guess that 's good because we end up picking up the mess later.


Quote
When we started, we partnered with an established company and used their references, until we developed our own.

That seems a bit sneaky to me..but I don't know the details.. How can you "use another company's references"?

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

tallmanusa

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Re: Marketing New Medical Billing Company
« Reply #13 on: February 24, 2014, 07:01:54 AM »
The debate  over "new " methods of selling and " old " method is moot if you have no or weak references. You will  not get a client, and don't hold your breath for them, you will turn blue.
Conversely if you have strong references, they do the selling for you.
The absurdity of you selling " you " is so obvious; you don't sell you, the people you have worked for sell you.
Dale Carnegie is his famous book wrote " Any idiot can toot his own hon, and most idiots do, a wise man find others to toot his horn ".
Whether you have one client or a thousand clients, each client does his due diligence, one at a time.
I am flabbergasted at the insinuation that you dazzle the doctor with " you " and he will not do his due diligence.
In our case, we provide five references in his specialty as the first step.
« Last Edit: February 24, 2014, 08:12:57 AM by tallmanusa »

SnyderKristine

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Re: Marketing New Medical Billing Company
« Reply #14 on: February 24, 2014, 10:37:57 AM »
Not sure what data you mean?

I mean the data I should start contacting or calling. May be the list of physicians, providers, other billing companies. I am actually looking for resources that can get me that data...