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Looking to do medical billing on my own...

  1. #1
    Default Looking to do medical billing on my own...
    Medical Coding Books
    Hello Fellow Members
    I have been working in the billing arena for the past 10 years and am looking to step out on my own. I work for a company that does the billing for about 10 (and growing) physicians offices. I do the billing for their outpatient surgery center but before that center opened (and at times since then) I have had the opportunity to work with the physicians billing as well. Every once in a while I meet someone that does billing, but they don't work for a company, they contract with physicians on their own and do the billing themselves (with an employee or 2 as well of course).

    I'm very interested in doing this, but I don't know how an individual would go about contracting with doctors and even more so how I would get enough physicians to work with me to make this a lucrative venture.
    I have loads of experience in all of the areas of billing and in outpatient coding. I even have some administrative experience as well. I am confident this is something I can do and am just looking for any suggestions from those who have been successful doing this on their own.
    Thanks in advance for any advice and/or suggestions!

  2. #2
    Thumbs up
    I am also entertaining this idea, so I am interested to see what responses you get.

    I know that I would only start off part time outside of my day job, but I don't know what I need to do as far as getting billing software because I would assume I need that in place before I start soliciting physicians. I'm just not sure how to get past this obstacle and I have been looking for someone who has done this successfully so I can pick their brain!

    Good luck to you!

  3. #3
    Default
    @ stone 6401

    I haven't seen any responses with feedback on how to get started. Hopefully someone will share one day

  4. #4
    Location
    TOLEDO, OHIO
    Posts
    28
    Thumbs up
    I'm curious too. My husband is an Idea man and small business guru. He keeps bugging me to start a business in billing, but what worries me is the upcoming changes to EHR, and technology updates in billing software, etc... I hope someone responds with answers!! Thanks for putting this out there!!

  5. Default
    I see there are no response from anyone who has already done this. I am in the beginning phase of starting this myself. I have spoken to a coder I know who said she has a shred company that comes out once a month, and IT guy who helps keep her computer secure.

    I'm in Texas and it's only $45 to file for a dba and you get it back within about 2 weeks.

    I'm looking at a percentage of what is collected. Does anyone have any info regarding the going rate?

    If I find more information I will share!

  6. #6
    Default
    I have heard the going rate is about 7% to 10% of what is collected. Depending on geography of course. You may want to look into remoting in to offices. Also try to reach out to consulting firms that deal with practice management and coders. Alot of times you just have to bid on the jobs. Good Luck.


    Cynthia Keith, CPC
    Practice Administrator

  7. #7
    Default
    I started my own company a little over a year ago... I still am not sure I have all my I's dotted and T's crossed when it comes to the business side of things, but on the client side I am doing well...

    I started with one small provider, found a free clearing house that had billing software that I could use as I saved money to purchase software. Working with the one provider she referred others to me, as well as doing a little basic and inexpensive marketting I now have enough providers that I am looking at hiring an employee.

    You can be as big or as small as you like and can handle with just a little time and patience.

    Starting up a company doesn't have to cost a lot. There are free clearing houses, and fairly inexpensive softwares... On that note my only concern now is the EHR requirements that are coming soon. I wouldn't mind connecting with them but in my situation I have multiple practices and not sure how that will work out for me. I am kind of just rolling with the punch

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