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

Advice on working from home

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Tameka79:
Thank you all for your advice.  It does make sense for me to start my own business and that is what I am currently looking into. I am wondering if you all know who I would go to to find out about different laws in this field.  Right now I am trying to figure out how much I would charge and I know most people sugget a flat rate over a percentage, but I was wondering who I could speak to to find out if it is illegal where I live (St. Croix, Virgin Islands) to charge a percentage because I am also thinking about incorporating do patient collections on outstanding balances, and I would like to get a percentage of what I collect versus a flat fee.

Michele:
The following is posted as a response to another question but I believe the info is the same.

Legal is not my area of expertise but I found the following application for physicians to practice medicine in the US Virgin Islands:

http://www.fsmb.org/Media/Default/PDF/FCVS/FCVS_usvi_physician_application.pdf

Page 10 has a statement regarding fee splitting.

Michele:
If you calculate your flat fee correctly you will be paid for ALL of your work.  Sometimes when you charge % you are not paid for all of your work.  Some providers simply want to pay a % and won't consider the other methods, but some providers actually won't sign with a company who charges a % when they realize it is fee splitting.  We have a book on charging your providers where we do cover how to calculate the flat fee.  We also cover other methods of charging as well.  You can read more about it at:

http://www.medicalbillinglive.com/pricing-your-medical-billing-service/ 

Tameka79:
Thank you Michelle! That was very helpful. I really appreciate it. :-)

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