Jgorwadkar
New
Hi From more than 6 years i was working as medical coder now i want to start my own company how to start and how i will get clients for that can anyone suggest.
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Wiki Want to start Medical Coding Company
- Thread starter Jgorwadkar
- Start date
Pam Warren
True Blue
Create a business plan. You have to market yourself and find out if you can actually make a living doing this. Prove you have the ability for secure transactions. Obtain liability insurance. Make a name for yourself first, with providers who can recommend your good work. Know the rules/guidance for federal, state, commercial and MA plans, which sometimes vary by state. Are you a pro-fee coder and do you need to know how to code for the facility? What specialties can you code, and does that limit your market? Learn the provider licensure rules state by state (they're not all the same). What software do you plan to use? What's your contingency plan if your system goes down? Can you integrate information with your clients? Will they feel comfortable with your security platform? How will you be paid? You'll need an attorney for client contracts and an accountant to manage your funds. If you're in the US, you will be taxed. If not, a US client may still need to report payments made to a foreign contractor to the IRS, requiring you to complete Form W-8BEN or W-8BEN-E to certify your foreign status and confirm the income isn't subject to US tax. What kind of legal support do you need if you inadvertently code/bill non-compliantly? Are you eligible to work for an organization that takes Federal Money (i.e. are you on the OIG's exclusion list?)
I would answer all of these questions first.
I would answer all of these questions first.
Jgorwadkar
New
Thank you pam for your valuable guidance to establish the start-up company. If you are okay i will explain what's in mind for initial phase to start company and after that i will improve by your guidance.
Last edited:
olgak@wchsb.com
New
I know online that you can start a business on your own but also through buying a business license or franchise. One of these options should help with all the know-how of the industry.
Jgorwadkar
New
That sounds interesting! I’d love to know more about both options starting a business independently and buying a business license or franchise. Could you please share more details about the pros and cons of each, and what kind of support or industry knowledge they provide?