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Medical Billing Forum
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Starting a Medical Billing Business
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Starting Your Own Medical Billing Business
(Moderators:
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Michele
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Cash reserves
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Topic: Cash reserves (Read 2078 times)
williamportor
Full Member
Posts: 243
Cash reserves
«
on:
January 17, 2016, 07:23:46 PM »
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?
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kristin
Hero Member
Posts: 703
Re: Cash reserves
«
Reply #1 on:
January 17, 2016, 10:53:47 PM »
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.
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Michele
Administrator
Hero Member
Posts: 5927
Re: Cash reserves
«
Reply #2 on:
January 19, 2016, 01:48:41 PM »
Agree, that's not an easy question to answer but I think kristin's recommendation is good. 3 months should be safe.
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Medical Billing Forum
Re: Cash reserves
«
Reply #2 on:
January 19, 2016, 01:48:41 PM »
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Medical Billing Forum
»
Starting a Medical Billing Business
»
Starting Your Own Medical Billing Business
(Moderators:
Alice Scott
,
Michele
) »
Cash reserves