Wiki Starting Own Business

[DennisW123]

I have over ten years in the Coding/Billing field ( worked all areas of the practice) and I have traveled extensively as a trainer/ Work Flow consultant. I have been considering staring my own billing company; I have engaged a tax professional and would like to pick some brains as to what my next steps should be, and what areas I need to pay really close attention to.

Any information is welcome. Thanks

 

[lmn]

just started mine about 2 months ago. Check which software to want to use, web-based (which is what I use) or not. This took the longest time. I did not want to pay additional charges for support or upgrades and have the freedom of where I can do my billling from. (Any computer and any state if I move). Think of a name and file with the state and IRS and also check with the city you live in for any licenses you may need.
Create contracts for providers and decide what your services will be and a fee. (percentage or flat rate for specific services). I am still working on this, so if you have any suggestions, it would help.
Anyway, talk soon.

 

[Cpeterson2010]

What software did you choose as your web-based application? I have been doing a little research on this also.


Thanks so much!

 

[allie1969]

I am working on my company also with all the software out there I decided on kareo its a web based software and I love the dashboard. Tour clients are able to see your performance each day and follow along with everything each day and they clan see the progression with the A/R etc.... its reasonably priced.
if you are deciding on how to price your service you need to know some states do not allow you to do percentage billing it has to be flat rate.

 

[Chapman86]

I am also researching this too, I have looked at medical coding software until I now have a headache
I was wanting to know Do I have to choose a software that my clients are using? I guess I am wanting to know are the web based medical coding software compliant with software the client uses

Also how do you that have already started the business receive payment for services? Does the Client pay you once the coding is finished, or does the payment come directly from the insurance or payer?

Thanks in advance
Danielle

 

[nadezhdadnnp@msn.com]

Obtaining a Business Licence

I would like to ask for any tips in setting up a consulting Medical Coding business. I looked on the state web site but I am still unsure if I should do LLC (Limited Liability Company) or S-corporation.
I actually had an offer for Coding from home but the company requires me to have a consulting contract with them.
Could someone advise me what is the customary business set up?
Thank you.

 

[armen]

I would like to ask for any tips in setting up a consulting Medical Coding business. I looked on the state web site but I am still unsure if I should do LLC (Limited Liability Company) or S-corporation.
I actually had an offer for Coding from home but the company requires me to have a consulting contract with them.
Could someone advise me what is the customary business set up?
Thank you.

LLC is the easiest way to go. Corporation would require a lot of paperwork comparing with LLC. I do not beleive the type of business has anything to do with legal structure of your business. So, regardless of what you want to do, you can have "your business name, LLC" or "your business name,Inc."