Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Medical Billing Career Research
PMRNC:
--- Quote ---And all you needed to know to earn that money was what you learned in billing class, right?? ;)
--- End quote ---
Heavens no.. I never took a billing class in my life.. taught a few, helped write a home study.. my background comes from the OTHER side ;) started out back in 1989 even when I started my own business there were still doctors using the old peg board :)
If anyone ever has the opportunity to work in the claims department of any insurance carrier, I urge you to do it. The training is INVALUABLE and extensive. I was with 3 of the top 5 carriers and each one contained training NO less than 3 months. Everything from terminology to coding. When you work on the other side you don't need to go further in marketing than telling doctors you worked on the other side.. since 1997 I think I've only done about 5 mailings.
RichardP:
That was meant to be a joke. Perhaps you understood that??
RichardP:
TechieRN - if you know medical terminology at all, you can run circles around someone who does not know the terminology and has only had a medical billing class. If you have an interest in the technology at all, you can become a killer consultant by learning the problems that doctors / doctors groups / medical facilities / hospitals have to solve by implementing the new EMR rules. There will be work out there for a long time, helping various groups make systems work, and then making them talk to other systems. If you can help them do that, and know medical terminology to boot, you have the potential to be in great demand.
If you haven't done so yet, read through the comments (there are a lot of them) at the end of this link - reposted from above.
http://www.nytimes.com/2013/02/20/business/a-digital-shift-on-health-data-swells-profits.html?pagewanted=all&_r=0
That should give you a feel for how badly they need someone who can make the systems work. Knowing the technology, and knowing medical terminology, will allow you to listen more carefully to what the doctors say they need - more so than someone who doesn't know medical terms.
And if you are under 35, go to work for Epic. Either at headquarters, or out in the field helping organizations customize the system to their needs.
http://www.epic.com/about-index.php
http://www.hospitalemrandehr.com/2011/08/21/why-do-people-dislike-epic-so-much-including-me/
The Epic system, as well as G.E.s Centricity system are built on top of variations on the MUMPS database that is the basis of the U.S. Veteran's Affairs health-care system. You will see reference to this in some of the links I posted (note that these are EMRs, not PMs). That VA database is actually provided free of charge to anyone who wants to use it. But, since there is little to no profit in software distributed for free, commercial companies are ignoring this. Educate yourself on the software and help doctors install and use it.
http://en.wikipedia.org/wiki/VistA
http://www.ehealth.va.gov/EHEALTH/CPRS_Demo.asp
http://www.vistapedia.com/index.php/Main_Page
Want to find work so you can earn money? Make yourself useful so that you have something that doctors will pay you for. There is a technology sea-change going on out there. The old approach to billing is being phased out. If you are young enough, educate yourself and ride the sea-change to success.
Billergirlnyc:
--- Quote from: TechieRN on January 24, 2013, 09:50:00 AM ---Hi There I am brand new to this forum but need some advice.
I have been able to speak with two people in the Medical Billing business and here is what I found out so far.
The first guy (Steven) I spoke to lives in Oregon and went through the billing class I have been considering on taking online but he said the class was very basic and I could learn most of what he learned purchasing a few books on Medical Billing. Steven have been in the business a little over 2 years, told me he thought it better to quit my current job so to devote all my time to building clients and building this business but made him aware that this is not possible since Steven thinks it could take 1-2 years to build clients but was very encouraging about the business in general. Steven's father passed away and left him an inheritance and he has about 20 clients but only makes about $2500 a month from his business currently but could not do it if it was just billing business supporting him but expects his numbers to increase soon. Similarly, I did let him know "I am not quitting my day job" to do this business and it would need to be built while working my current job and he agreed but said it would take me longer to accomplish but possible.
The second guy I spoke with (Jim) was the Neuro MD's biller who finally called me back after multiple attempts and me actually getting the MD to have him phone me back, which was by coincidence since I got a call from MD on my regular job with him needing assistance.
Jim has a local business here in Sarasota, FL says Medical Billing is very competitive (which is probably why he didn't phone me back right away) but room for more people to get into the business and but made me aware that my biggest challenge is getting that first client to give me a chance with no experience in the business. In the same way if an MD finds out that I work my other hospital job on the side and that Medical Billing is not my primary business they would be nervous about hiring me. Jim says he does more than just Medical Billing and some of what he does that offices ask him to do, he doesn't really collect any revenue from such as: actually assisting the office manager role at some offices, helping offices with business work-flow issues, helping with software decisions and on and on. Jim was somewhat encouraging but told me to research a great deal before investing money and making the plunge, he also said he finds little niches that have helped him distinguish himself from competitors and suggested that for me in not so many words. Jim says to not look at just Bradenton-Sarasota but also Miami, Orlando and other areas to grow the business.
Well, that is my nutshell report for now, and I still have little idea about what a typical day in my own business would look like yet but have been reading, researching and of course praying that I am moving in the right direction with starting my own business since living under someone else's whim or wane on how they wish me to conduct my job does not excite me any longer.
I would rather decide to fail or succeed at my own business, than having to deal with political games here at current job, since 3 strikes means I get fired from my current job and I already have 1 and 1 half strikes against me.
I am hanging in there though.
--- End quote ---
All fields are competitive. It's all about finding your niche and working from that, then expanding your business once you've mastered one part of it - of course this is how I do things. Find your own within that.
I'm curious you say you're a nurse, why haven't you looked into becoming a certified coder via AAPC or AHIMA? I'm a coder (AAPC) and I hold the RHIT certification from AHIMA (another good option for nurses- I think). I've met and know tons of nurses who make excellent coders, because it's already ingrained in them from their studies and on the job skills. I mean the one's I've met at CEU's only had to really learn how to use the CPT/ICD-9 books, those who were straight coders. Some others did what's been suggested which is interned where they worked or use to work in the billing dept to learn the billing aspects. I would look into a program that perhaps offers both. I know the AAPC has a billing course as well. I learned all my billing in a doctors office for a large group with multiple modalities years ago. I don't think anything beats hands on experience, when it comes to being a medical biller. But, again I think nurses have an advantage when it comes to coding, especially those who are use to writing in patient's charts, etc. It's just a suggestion. For me, this is where the competitive edge comes in. I can hire coders (and I do) but I became one simply so I knew every single aspect of service I offered my clients. I don't think anyone has to become one (it's definitely not needed), but if you're a nurse it just seems like a natural progression ( to me), if this is the field you plan on going into.
Good luck and keep us posted.
TechieRN:
It is funny you inquired about this, since I am trying to find out more about learning medical coding too and might be able to get an 'in' here at the hospital where I work, I am trying to talk with people.
I am beginning to think that I might have a better chance at the coding piece (more lucrative too) but can a person do coding from home or do a home business for coding as well or is it being hired to do so and being able to work from home. I am just looking for flexible options is all.
Thanks again for your input, I don't take it lightly and do appreciate it greatly.
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