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Starting your own coding business

  1. #1
    Default Starting your own coding business
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    Has anyone here started their own coding business? I have been coding for 5 years now, and I would like to test the waters with one, at the most two, local physicians on the side of my full time job. What do I need to get started? Do I need to buy billing software? And how do I go about soliciting physicians?

    I would love to hear from anyone who has started their own business. Thanks!

  2. #2
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    I started my own medical management business back in 2009. Currently I have several surgical assists that I perform the entire billing process for. If your planning on handling the entire process I would suggest getting your own management software, I use Medisoft because it is user friendly and affordable and I use MegaEasy EDI interface along with it to conduct my eletronic billing through Availity. I can say it is difficult to get clients at first, I tried sending letters to all the local offices, but never received call backs on them. I would suggest advertising postcards, as most of the clients I have gotten have responded to those instead of actual advertising letters. At this point, 2 years later, I'm still advertising with the hope that one day I'll have enough clients that "word of mouth" will spread, which is always your best bet on advertising. Good luck on starting your business, I have to say it's been tough and stressful, but worth every minute once it starts producing, it just takes time, effort and a bit of luck!!

    Best Wishes!!
    Ashlie

  3. #3
    Smile
    Thanks for the detailed response! I keep thinking I should have my home office set up with the software in place before I start marketing, but isn't that a HUGE expense before I know if I'll even have a client? Also, since I plan on starting out after hours and weekends, I can't take patient billing inquiries off the practice's hands which would be a huge incentive for them to contract me.

    Is there a realistic way to get started with just limited services such as coding, billing, patient invoicing, and maybe payment posting? I am waaaay too conservative to make the jump out of my 9-5 until I KNOW I'll be ok

    Thanks again for the input!

  4. #4
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    I got lucky and had a friend who let me use her software system for awhile. It is expensive to buy software, but it is easier to have your own from day one. I think I paid about $1300 to get all of mine ready to function.

    You could advertise just for the services your able to offer right now. Some practices may be in the market for a contract person to handle the duties you mention before. I know it's tough trying to start a business and juggle your current job. I was lucky and didn't have to do that, but I know lots of people who have. It takes time and money, but in the end, being your own boss and working the hours you decide adn from your own home are well worth it.

    Good Luck,
    Ashlie Sherrill, CPC

  5. Default
    I am also in the process of starting my own Coding business . I have looked into different Coding & billing software, however for right now, I have been doing some contract work & I plan to continue doing that for now & work myself up to providing other services in the future. Meanwhile I plan to gain more education & a few more Credentials. I agree it does take time & money. My ultimate goal is to be my own boss.

  6. #6
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    Congrats on the decision to start your own business. It is so rewarding and so scary. I am still new to this, I started in Fall of 2010 and have 4 providers that I do full reimbursement management on, that includes billing and coding and appeals and patient billing. It will take a while to get your first client, but don't let it get you down. Contact your state and find out what kind of license you need (if any), figure out a business name and get it registered, find out if you need a permit for your business to be out of your home. Get everything legally set up first. Then figure out what services you want to offer. Call to other billing places in the area and find out what they chrage, also contact other ones over the internet. You may have to "disguise" yourself as a physician to get information out of them. For marketing, become a member of the chamber of commerce for your area, join the small business group, try to join any networking groups that you can. I found that advertising my mail did nothing for me. I like coding physical therapy and chiropractic: so I go to the State Association shows as a vendor. Get a website. I like to go to the offices, most of the time you won't get to see the provider, so leave information and treats. Its very important that you leave two treats-one for the receptionist and one for the provider. Make sure you tell the receptionist, "this one is for you, for helping me out and making sure Dr. Smith gets this information." As you get clients they will talk and then physicians will start contacting you for your services. Hope this helps you out.

  7. Default
    I agree with Weigelm, figuring out a business name and getting it registered is a good idea. I took that step almost a month ago, I'm just waiting for my Name Reservation approval. Before I did that, Just as Weigelm stated I checked on the necessary business licenses or permits needed to work from home. I've been contemplating doing this for several years now, and I have finally decided to make that move. Vistaprint has some great advertising/marketing tools on their website also. You can also get helpful information by purchasing Self-employment books, for example, Contract agreements, small business tax deductions, landing your first provider, etc. I wish you much success in starting your own business!!!

  8. Thumbs up starting my own billing and coding
    Thank you, all for the info on starting your own business. I have had no luck, with people sharing what they know on how to get started.

  9. Default
    Quote Originally Posted by Valeriaguzman View Post
    Thank you, all for the info on starting your own business. I have had no luck, with people sharing what they know on how to get started.
    I have thought about a consulting business in the past. I know a few consultants and they pay very high for health insurance. Is anyone concerned about that issue and do you know of anything that can be done about it? That is scary to me.
    Theresa Dix CCS-P CPMA CCC ICDCT-CM

  10. Post Requirements in coding Company
    I wanted to start a coding business in India. I just want to know what are the requirement to start a medical coding business?. And how to get client from abroad?.

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