Medical Billing from Home…The Perfect Career

After completing a medical billing and coding program and receiving your certification, then a medical billing and coding specialist can try to start their own business. Many employers advise that medical billing and coding specialists gain hands-on experience outside of their home before starting their own medical billing and coding business at home. The reason for this is because many physicians have different types of insurance companies that they deal with on a daily basis (as much as 10-20 different types of insurance companies for some). Also some physicians might have a certain way of how they want paper work submitted. Everything varies by physician.

Even after all of this is done, if a medical billing and coding specialist wants to start working from home, there are many things that need to be planned ahead in order to legally start a business.

  1. Prepare a Business Plan. A business plan is very important because it outlines every aspect of the business. Also it will help with marketing strategy.
  2. Decide on the business entity. This is where the specialist will determine if they are going to run their business as a sole proprietorship, partnership, corporation, or limited liability company.
  3. Register Business and complete all forms for licensing and permits, if necessary. There will be different types of permits and licenses that are needed to establish a business depending on what state the business will be started in. Also, the name of the business would be registered as well.
  4. Check for zoning requirements for the business. Depending on the zoning requirements for where the business will be located, a business might not be able to be in the neighborhood where you live. Some zoning areas do not allow commercial usage for housing.
  5. Set up office in the home. Depending on how big the home is, will determined whether a spare room can be used as the office. Also, make sure that all the equipment that is needed for the business is set up as well.

Start Up Expenses

Depending on how expensive the equipment is that you plan on buying for your business will make the initial amount vary. The start-up expenses for medical billing from home will include the following:

  • Office Equipment (e.g. fax machine, phone, computer, internet, etc.)
  • Office Furniture (including filing cabinets, desks, and chairs)
  • Office Supplies (notebooks, paper, pens, printer, ink, envelopes, forms: HFCA, Medicare, and others)
  • Medical Billing Software
  • Reference Books

The main and most important expense is the medical billing software. It also can be the most expensive expense because on average the minimum amount spent on medical billing software is $500.00.

Marketing Expenses

Every business has to be marketed in order to bring in clientele. The best way to do this is by networking. Going to doctors’ offices and presenting you to them. Let them know that you are doing medical billing from home and would like to outsource your services to them. If for some reason they are not interested, then you can simply ask for a referral to someone that might need your services. Direct mailing is also a great tool to use if soliciting is prohibited.

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