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

Need Advice!

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Michelle1965:
I have been reading a lot of the topics in the forum, so I'm not quite sure if I'm better off running my own Billing Company or working remotely for an hourly rate due to the expense of running your own company. Any suggestions would be greatly appreciated!  :)

kristin:
Hard question to answer, without knowing your personal situation. For me, having a full time job, it is better for me to remotely bill for other doctors in my spare time. If I didn't have a full time job, I might consider starting my own billing company. Yet, there is SO much that goes into that, that I honestly don't know if I would want the responsibility, if I am making enough from my remote work to live on. It isn't just the expense of having your own company, it is the responsibility aspect, and I would just as soon not have that in my life, beyond what I have to do as a contract biller. Your situation may be different, I don't know.

I can say this...start-up billing companies seem to be rampant, and they have to really work hard in most cases to get that first client, and subsequent clients. Whereas I wasn't even looking for remote work, but had three billing companies find me on various boards and offer me work in a short period of time, and it has proved most beneficial to me financially, and has led to consulting work also. So I guess it is a matter of what you are willing to take on, and what works with your situation right now.

Michelle1965:
Thank you Kristin for the advice!  The hard part is going to be finding the work either way.  I currently work for an Ophthalmology office, and honestly I was leaning towards finding something remotely I could do part-time in the evenings or on weekends, but that seems to be very difficult.  Most of them want full time, and I'm a little nervous about just quitting my full-time job just to try out the remote work. I will really have to think about what direction I want to go in. :-\  Thank you again!

PMRNC:
There is a huge difference in starting your own business vs. getting a "work at home job". Doctors if they plan to outsource want to do so to SAVE money, the liability alone with hiring a remote worker is tripled, not to mention their expenses for setting up the remote location. IRS would indeed have a problem with all costs being absorbed by the "remote" employee. So that would squash marketability for a remote position. Even assuming a provider adds this cost, they would be foolish to do it without hiring someone with quite a bit of experience.

I wrote an article on the differences so you can see what your up against. My best advice if you want to break into the business but don't want the costs associated with starting a business is to get your foot in the door with proper training and start entry-level in an office setting or hospital.

http://www.billerswebsite.com/jobvsbiz.htm

kristin:
You are welcome, Michelle!

Now that I know a little more from you, I personally would stick with your full time job, and see if you can find remote sub-contractor work to do on the side. You are in a specialty field with ophthalmology, and that could work in your favor, if it is difficult to learn/code/bill. That is why I ended up with so many remote jobs. I only do podiatry, and apparently, it is considered difficult, although I never knew that until all these billing companies got podiatry clients and didn't know how to bill it. LOL!

Sign up for as many forums and boards as you can, and if they have areas specific to your specialty, answer every question you can someone may ask, and perhaps someone will contact you for remote work like happened with me. I wasn't even looking for work, but it just came my way. If I come across anyone looking for someone to bill in your specialty, I will let you know.

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