Starting a Medical Billing Business > Starting Your Own Medical Billing Business

Starting a Medical Billing Company while working full time

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kimmie963:
This is a very important question that was asked.  I also work full-time and in the process of getting my first client and soon hopefully a second. In general and I guess it will have to do how I set up my contract with my clients, Would it be feasible that 2 clients could replace  full time income? I ask this question because I have limited experience with billing and because of this and the niche I looking towards that I will be consumed  assisting them to get things up and running for their practice. 

Michele:
It depends on the size of the clients and what income you require.  There is really no way to say what number of clients or what amount of money will work for every person. 

PMRNC:
I agree with Michele, it's just too difficult to say. I've seen billing companies start off making profit with one large client and i've seen them take a year or two with some small clients barely breaking even. Like any other business startup it can take a year to three years to turn a profit. It also depends on how much you put into it, what your goals are and how you plan to grow your business.

medwave:
As others have stated, it really does depend on your situation and a number of variables and I say variables because this business is entirely dynamic.

I'd agree, you might be able to knock it out of the park with one client. Let's say that client is a Genetic Testing Lab and the payout is through the roof, stellar. Well, you might be able to keep a full-time job and manage one or two clients that pay out a ton, in which case you are double-dipping for the win!

We don't have that many clients, yet gross around $2M per month (~10 clients). Yeah... we got lucky and landed a nice contract.

At the end of the day, it's about SCALING your business correctly and that includes taking on new clients as well in balancing your time and life.

BTW, I like this forum. :-)

Marie_w01:
I was wondering a similar question, how do you make the transfer from working full time to starting your own business? As I make this transfer I would like to know if anyone has any additional tips?

Thanks  :)

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