Wiki First Step-Billing company

[rose2014]

Planning to start my own billing company.

As I am doing ground work, anybody please suggest me.

1.What forms should I have signed between me and provider/

2.Forms I should have signed if I am hiring a contractor.

Also if you any sugeestion on what else I should be having please share.

Mnay Thanks

 

[jojo419]

Medical billing is a great career but before you move forward starting a company, I would see if there is opportunity in your area. More and more medical billing companies are losing doctors because they are being absorbed by hospitals. I have owned a successful company for 32+ years and my business (as well as many others over the past few years have lost tons of clients). Two large companies I know of employed over 20 people and ended up moving home with a couple of small accounts.The doctors went out with a fight but they had no choice. Fortunately,consulting, coding, and auditing are in demand and I see major need with the implementation of ICD-10-CM. My business has totally evolved from billing to coding and all my employees are CPCs. (I still have a few clients and they are worried they will be forced to go to the hospital too.) I do not mean to be discouraging but before you invest one penny (and remember hardware and software will need to be upgraded with implementation of ICD-10-CM by October 1, 2014)....do your homework. I would hate to see you invest a lot of money in the wrong profession. If you love billing, perhaps you can find a job in a hospital or something and let you earn their trust and they may allow you to work remotely.
Hopefully your area is not as affected. I am talking about demographic areas from the Carolinas to the East coast.

 

[cyndeew]

Tulip - as long as you go into this eyes-wide-open and realize that you may be lead in a different direction (like Jo-Anne), then this may be for you.

If you are the kind of person that takes initiative, can work independently, think quickly and you have an attention to detail, starting a billing company may well be a good fit.

There are doctors and other healthcare providers that do need billing assistance that aren't planning on becoming a part of any hospital - you just have to wade through the others to get to the right potential client.

You can find a lot of forms and such from Don Self's website at www.donself.com

You will have to be flexible in your approach - not all doctors need a billing company, but a lot of them have old, unpaid claims, need a temporary biller, need help with credentialing, need understanding of where they stand financially, etc. As long as you figure out what an office needs and then meet their needs, success is achievable.

Also, please realize that you are just as responsible as the doctor is for the privacy and security of patient data and you must take steps to protect confidential information. Any doctor worth his salt will ask you to show the preventive steps you have taken.

And finally, having a compliance plan in place BEFORE you start marketing will prevent in-experience from showing... Most doctors will ask you for a copy of your compliance plan, so be prepared to present one.

Good luck to you.