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7 Replies Last post: Oct 19, 2009 1:12 PM by YesYouCan

starting an at home medical billing and coding business

Sep 3, 2008 5:54 PM

Click to view tweeknjeep's profile Start-up tweeknjeep 2 posts since
Sep 3, 2008
Hi, I am in the early tages of planning a medical billing and coding business from my home. I am a certified medical coder and have 5+ years of medical billing under my belt and am tired of working for just one office, I am wondering the best place to get started and what steps should be taken in efforts of starting a business plan? Also, if I have ppor credit personally, could this effect my business getting off on the right leg?
Tags: new, business, medical, billing, and, coding Report as inappropriate
Click to view Mybizfiler's profile Mogul Mybizfiler 35 posts since
Aug 20, 2008
1. Re: starting an at home medical billing and coding business Sep 4, 2008 9:24 PM

Hi,

Starting your own business is a complete different experience. You can definitely start your own business and be your own boss. With the years of experience you carry coupled with your certification is the perfect requirement to start your business. Preparing a Business Plan is not that simple. It should cover various important things like Cash Flow Analysis for next 3 years, Administrative Task Lists, Insurance Requirements, etc. At ICS, Inc. (http://www.mybizfiler.com/) we offer preparation of detailed Business Plan at reasonable costs.


The first and foremost requirement is to incorporate your business, the next question that comes to your mind is where to incorporate. The first and simple choice would be to incorporate in your home state. We at ICS, Inc, help you to incorporate your business and provide complete incorporation services.


At ICS (www.mybizfiler.com), we, at a very competitive price (1/4th of charges a typical CPA charges) take care of your complete Incorporation Services.


You can reach Mr. Nirmal Jain (Senior Manager) at 469-713-2541 and can mail him @ nirmal.jain@mybizfiler.com, as he is very well experienced and has considerable knowledge in incorporation services.


For more information and details please visit ICS web site http://www.mybizfiler.com/.


You can also visit our informational blog site: http://mybizfiler.wordpress.com/.


Best Regards,

MyBizfiler

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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
2. Re: starting an at home medical billing and coding business Sep 5, 2008 12:55 PM
*Starting an at home medical billing and coding business, Welcome Kimberly*

If I was planning to start a business from home, I would do the following
Choose a Business Name, Register the Business Name and get a Federal I D Number.
Develop a Business and marketing Plan, Get an Accountant and a Lawyer and
maybe an Insurance Agent.

I would also talk to SCORE. SCORE is FREE and can help you succeed.

Good luck, LUCKIEST
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Click to view tweeknjeep's profile Start-up tweeknjeep 2 posts since
Sep 3, 2008
3. Re: starting an at home medical billing and coding business Sep 5, 2008 1:07 PM
in response to: LUCKIEST
thank you for your assistance, and I have done the first portion, came up with the name, have recieved my business license, and UBI number. My next step is to start my business plan, which to me seems the most difficult since I will be the only employee for the time being. My senior concern is the start up money, for the software, advertising, and supplies. I have estimated that it would be about 1500.00, which to most would not be alot to come up with but I am very weary of taking it from our savings. I have printed the recommended reading from the SCORE website, but they have so many applications and services for people to go to its very overwhelming, my credit is not good and I worry abount no one lending me even the small amount I am needing. Any advice?
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Click to view bigcloudmedia's profile Mogul bigcloudmedia 50 posts since
Aug 22, 2008
4. Re: starting an at home medical billing and coding business Sep 23, 2008 2:18 AM
in response to: tweeknjeep
I would suggest taking it one step at a time. If you prioritize what you need to get done and how you need to do it, based on what you recieved from SCORE, you should be able to get through the cloud of info.

I found myself having the same problem but once i sat down and wrote out what i needed to do, it helped immensly. Taking it step by step will reduce your work load at one time and also reduce your stress level. Less stress is always good.

If you would like I can help you go over this step by step and try to help you break down the info into more manageable pieces. Please let me know if you want me to help you one on one.

You can reach me at kflowers@bigcloudmedia.com or through my website at www.bigcloudmedia.com.

I hope my post is benificial. Have a great day.

Koji Flowers
Big Cloud Media
www.bigcloudmedia.com
"Websites...we do those."
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
5. Re: starting an at home medical billing and coding business Sep 23, 2008 5:43 AM
in response to: bigcloudmedia
starting an at home, Good answer Koji

One step at a time, With SCORE help and a Business Plan. It is great that you offer to help.
I am a SCORE Counselor and also available to help (FREE)

You have a interesting web site. Like your slogan "We don't just build websites, we open doors".

Good luck, LUCKIEST
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Click to view ceolionel's profile Professional ceolionel 5 posts since
Apr 24, 2009
6. Re: starting an at home medical billing and coding business Oct 18, 2009 9:41 PM
Thats a great plan. Do your due-diligence. BusinessPlanPro.com is a good place to start. Great software. I am in the prosess of doing the same.
1st, figure out what are you want to specialize in or do you want to be a general biller and not limit yourself to a specialty. 2nd, Get the best software available for your budget. All this of course after you incorporate and get your business license. Learn the software. Purchace and build website. There are cost efficient websites. Devise marketing plan. Then go get'em.
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Click to view YesYouCan's profile Authority YesYouCan 13 posts since
Aug 3, 2009
7. Re: starting an at home medical billing and coding business Oct 19, 2009 2:35 PM
in response to: ceolionel
Good answers from both Koji and Luckiest.

Based on what I know about the competition in your chosen business, I would concentrate on your MARKETING Plan. Do you have a potential client list? If not are you going to focus on one medical or dental specialty (market niche) which may be easier for a start-up business? How are you going to reach your potential clients? What will it cost to market the service?

This type is service is heavily advertised (hyped) on the internet as a home business. Porblem is they sell you the software - and maybe some instructions - and then leave you to market your services to whoever. Very few of the people who try to start this type of business ever make any money and most lose their investment.

Your situation seems different, you have the background and experience. If the market is there, and your cost is competitive, there is no reason you can not succeed but I would do a marketing plan very early in the game - and then work it into cost analysis and part of your over-all business Plan.

Luckiest and SCORE can help. If you want to try a download fill in the blanks type marketing plan, Marketing Plan Pro, by PaloAlto Software is a pretty good one - but try SCORE for free help first.

Good luck!
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