Is Medical Billing a Viable Home Business?
This guest article by Linda Walker, PMRNC focuses on the medical billing company, and asks: Is Medical
Billing as a home-based business viable business?
MEDICAL BILLING AS A HOME-BASED BUSINESS
by Linda Walker, PMRNC
Reprinted with permission
Is it a viable business? YES, it most definitely is! Unfortunately, there
are many companies who misrepresent our profession. Statistics show that more than 80% of consumers fall victim to
a misleading classified ads or internet opportunity for medical claims processing. This not only hurts the consumer
who is misled down a path they believe will be instantly profitable, but it discredits the industry and those who
have established their companies and have labored their way to where they are today.
This is for certain: You will not get rich overnight, if at all! What you lack in experience MUST be made up
with knowledge. If you do not research and educate yourself, you will not succeed! How much money you make cannot
be determined by ANY vendor! Only you can make it happen. If a vendor proceeds to give you earning claims,
then you tell them to back it up. By law, they have to!
Before we get into what medical billing is really about, we should tell you that our priorities are not just
focused on the medical biller or medical billing company, we also take great pride in our work in educating medical
biller's for the many health care providers out there.
In fact we tell doctors What to look for in a medical biller as well as
give them a detailed job description of a medical billing specialist. With this in mind, you
cannot afford to go into this blindly!
Health care Providers are our business too, It's THEIR MONEY!
PMRNC is dedicated to the FACTS behind medical billing. We won't tell you this business is easy and we won't be
referring you to a company who tells you this is easy. Medical billing, more accurately stated,
is practice management and is a career that provides a valuable service to health care
professionals. It is not as simple as purchasing a medical billing software package and sending out flyers or
letters. Health care providers do not hand over their receivables and financials easily. The services you will
provide to your client not only put money in your pocket, but your provider's income depends on YOUR
knowledge. Doctors need to be convinced you are up to the task!
A professional billing center/practice management company is responsible for obtaining reimbursement for health
care providers. This is your prospective client's bread and butter. This is what pays their mortgage and feeds
their children, just as your business was intended.
What sets you
apart from other companies offering this service?
What makes you different? Knowledge! Staying on top of
industry changes, understanding what it takes to create consistent and maximum revenue, as well as a strong
commitment to ongoing education within an ever-changing insurance industry. You must be prepared to learn
every day! You must be committed to ongoing changes, education and compliance!
Consider this: Perhaps you have already purchased your software and supplies. You sent out your marketing
material. After a reasonable amount of time and effort, you still get no response. You need to re-evaluate your
marketing methods. Your marketing material should reflect not only your professionalism, but your expertise. Would
you hire someone to do your taxes who just ran out and bought a tax accounting software, but neglected to educate
himself or stay up to date on current tax laws? Of course not! If you are going to offer a service to a
professional, then you must be a professional! Purchasing a medical billing software does not make you a medical
biller, just as purchasing a tax software does not make you an accountant.
We told you that we wouldn't fluff up this business and we meant it!
Once you decide that you want to pursue a career in medical billing, let's look at the first seven steps for
building the foundation and paving the way ...
1. UNDERSTAND THE
2. Subscribe to PMRNC TODAY
Our resources are built upon years of experience in cooperation with other professional billing services
and vendors. We took all the hard knocks when starting our billing companies and now we are here to help you avoid
potentially devastating pitfalls. We stay on top of the industry and make it accessible to you in ONE place! Our
Learning Center and Getting Started pages are just the beginning!
Once you are established, you'll still find yourself coming back for more! We offer discounts to
subscribers on such things as mailing lists, clearinghouse fees, professionally designed marketing material, web
design, hosting and even claim forms and envelopes. Become part of an incredible network of people just like you
and those who have been around awhile. Continue chatting with the many new friends you will make. Our site is not
just a website, we are a community of professionals sharing our knowledge and guiding each other through the trials
and tribulations this industry presents! We have made valuable contacts and networking buddies through the years
and we feel that's such an incredible source of support.
3. Get on your local Medicare's mailing list for seminars and newsletters. Go to all the seminars your
carriers give in your area. Do the same for Medicaid and Blue Cross/Blue Shield.
4. Research the zoning laws regarding starting a home-based business. You would be surprised to know
that many municipalities do not allow home-based businesses to operate from a residentially zoned
5. Research business names. Visit your local township or municipality to find out the process in
researching trade names.
6. When you look for educational resources and software/training, look for a company who has been in
business longer than 10 years, check their BBB report, the FTC and yours and their State Attorney General's
office, to find out if it is a company you DO NOT want to do business with! You must be prepared for start-up
costs realistically being $3,000 to $5,000 total. Many people start out slowly and build their business one
step at time, so that the costs are not all consuming. We know many billers who have signed on with Temp
Agencies and some have taken part-time jobs at doctors office and insurance companies. Not only does this help
you obtain the funds for start-up, it's a great way to get hands-on experience and add to your resume!
7. If you decide to go for a home study program, make sure you ask for several
references. Ask about ongoing support for the program and ask when it was last updated. Does it contain general
coding issues? Will it help you learn about the various types of managed care? Will it help you in setting up
your home office? Will it teach you about HIPAA and touch on OIG compliance? There are
some good home study programs and there are some bad ones as well. Make sure you research these just as
thoroughly as you would your software and training. Ask the company to give you a list of references, network
with other billers and speak with them about the courses they have taken.
8. Network! We can honestly say that if it were not for the support we have received from
various networking groups, we would not be where we are today. Networking is the key to building better
business relationships, a way to share and gain valuable knowledge from others who have walked in the same
shoes you are walking in. We have a complete list of many medical billing networking groups, associations
and discussion forums located on our site. You can never have too many resources!
Is this all there is? No, it's not! There is so much more to this business ... which is why we
created this great resource!
- You asked "How do I get started"? We gave you the first 8 steps!
- You asked "Is this business viable"? We answered yes and proceeded to explain some pros and
The next steps are yours to take. Should you choose to subscribe to our ONE STOP resource
community, we will be there for you and we will grow with you. Our dedication didn't stop with the creation
of this site. It never stops! Our site is regularly updated, added to and maintained on a daily
basis! Visit our Table of Contents for just a sneak peek of what we
have to offer!