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

Office Space vs. Home Office

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blhoffman:
I am working towards starting a medical billing company. I am aware that many individuals do it from home but I don't really have that as an option. I do not have the space in my own home and that leaves me with needing to rent an office space. BUT I'm a single mom, with one paycheck and 2 children.

I have looked into renting an office space. Keeping an eye out for anything close to home, and affordable. Is there anything I should know about renting an office space vs. doing home billing? Anyone that also has a rented office that has some words of advice or bewares?

Thanks,

Brenda

medauthor:
Brenda,

I understand you feel that space is an issue in your home, but you can do billing from your bedroom or your kitchen table!  I am not advocating declaring this as an 'office' when filing taxes, however, you can absolutley still bill without having enough space or a separate room in your home.  In my opinion, renting office space is an un-necessary expense in so many ways at this point in your business: First, you say starting a business, so I am assuming you don't have your first client yet?  Second, you say "single mom with one paycheck"....so, I beg of you NOT to add the expense of an outside office at this point....I understand that the idea off renting office space may sound glamorous.....I know...I've rented office space before....and yes, it's nice decorating it....having a key, etc etc.....but when no money is coming in and you have to pay the rent every month.....the novelty begins to fade.....There are many of us 'home-based' billers by the true sense of the word who have and currently do bill sucessfully from home....again, by no means would I attempt to use your kitchen table and declare it as a separate home office on your taxes, God forbid you got audited.....but....take some time to re-think and save yourself some money as you venture into your new business!!  Much luck to you!

PMRNC:
I have to agree. In just starting out you are looking at possibly 6 months and maybe longer before getting that first client.
I'm not sure I would setup a fax and computer in my bedroom but if you have space there, why not? OR if you definitely cannot do this from your home, what about renting some space from a friend in their home for a lower rent? I too don't think it would be wise to have the cost of a rented office when you are starting out.

Michele:
I agree with Linda & MedAuthor.  You can always rent an office when you get things rolling but you can't get your money back for rent.  Getting clients is the most important part of getting started.  Too many people spend all their time getting their 'ducks in a row' and run out of money before getting a client.  If at all possible, hold off until clients are in place.

Michele

blhoffman:
I fully agree with what everyone is saying except for one little thing - HIPAA. I do not have the space or locked door for compliance. Kids come and go and may see things. I have a large family that drops by all the time.

It doesn't matter if they are my children or family. PHI is need to know basis for purpose of paying the claim or for medical treatment - any other individual viewing someone else's PHI is in violation of HIPAA.

I have a gentleman talked into two months free rent on an office space. In exchange I lay new carpet and paint. Which I have brothers who will do that for me. I'm looking at it again today with a brother who will do the carpet laying if I decide to take the space. I haven't signed the lease yet.

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