Starting a Medical Billing Business > Starting Your Own Medical Billing Business
New to the business
rdmoore2003:
I have used the Medisoft program for different providers in-house many times and still know providers that use it. I would not suggest it. Remember the old saying, you get what you pay for. With that said, I understand that it may be a good option for a start, however, if you are the only one "employed" in your new business, plan ahead that you will purchase a new program as quickly as you can afford it.
Michele:
A lot of billing services will start by targeting mental health providers. They are fairly easy in terms of billing as they only use a handful of cpt codes, and not a wide range of icd 9's. There are social workers, psychologists and psychiatrists and they tend to be plentiful. Most of these providers do not have a lot of office staff since they don't see as many patients an hour like a family practice dr. Starting with newer drs is good too, since they usually need more help. You can offer to assist them with credentialing, or other start up processes.
Good luck!
Michele
jcbilling:
Michele,
In your experience, what would you say the average monthly receiveables for a psychiatrist are?
~ Charity
jcbilling:
Lon,
For billing software, I recommend looking into Kareo or DAQ Billing - they are both web based software.
~ Charity
PMRNC:
--- Quote ---In your experience, what would you say the average monthly receiveables for a psychiatrist are?
--- End quote ---
It's impossible to give an average because there are too many variables, some psychiatrists are strictly med management, others practice both therapy and med management, some do hospital visits/rounds, some work in nursing homes, some do forensics...it's really impossible to give an average on this, you also have to look at location. The average initial eval (90801) for a psychiatrist could vary between $100 and $300 per hour, that should give you an idea of why it would be next to impossible to give a general analysis of receivables.
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