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

Cash reserves

(1/1)

williamportor:
Hello - I am about to land client # 7 (I hope) at this rate of growth, I may have to rent some office space and hire an employee in about 12-18 months. I'm no doubt jumping the gun here, but what kind of cash reserves should I have before doing this?   

kristin:
Without knowing your demographic info, such as rental costs and what you would pay someone, I can only guesstimate, and that would be three months(at least)reserve of what you would plan to expend.

Michele:
Agree, that's not an easy question to answer but I think kristin's recommendation is good.  3 months should be safe.

Navigation

[0] Message Index