Starting a medical billing business - Here are 6 important keys in getting started. Based on real world experience starting and operating a home based medical billing service.

1. Starting A Medical Billing Business
Key #1 - Invest In Yourself
● What's your business's most valuable asset? YOU!
● The difference between you and the competition is
not what you have but what you know.
● “Education is the most powerful weapon which you
can use to change the world” - Nelson Mandela
What Training & Skills do you need?
● Billing & Coding
● Software Skills
● Communication Skills
● Ability to Organize & Manage
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2. Key #1 - Invest In Yourself (Continued)
● Good training programs in Medical Billing and/or
Medical Coding are plentiful.
● Your local community or vocational college is a good
place to start and offers some of the most affordable
options. Also consider reputable online courses.
● Starting a business without a good educational
foundation in billing and/or coding is tough.
● Consider Certification in Billing or Coding
 AAPC
 AHIMA
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3. Starting A Medical Billing Business
Key #2 - Have a Plan
● Write down your goals and how you plan to achieve.
● Keep goals realistic.
● Who, What, When, & Where - Examples:
o Get Associates Degree by December next year.
o Get CBP in 6 months.
o Raise $4000 for business startup in 3 months.
o Attend 2 networking events each month.
● Can be small attainable goals.
● Your ultimate goal is to sign a client and get a
reliable income.
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4. Starting A Medical Billing Business
Key #3 - Network
● The most effective way to get started is to Network
with other people.
● Networking can be with:
 Friends & Family
 Neighbors
 Kids friends Parents
 Former Co-Workers or Employers
 Really Anybody!
● Best places to Network - go where the clients are:
 Healthcare Industry Meetings/Seminars.
 Professional Association Meetings.
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5. Key #3 Continued - Network
● Seminars given by health insurance companies.
Great way to meet office managers and other billers
& coders.
● Local chapters of AAPC or AHIMA.
● Social media - Facebook, Twitter, Pinterest,
Instagram.
● Use every opportunity to share your story with
anybody. It doesn't have to be an overbearing sales
job - just a polite informal conversation and a
mention about your business. You can really be
surprised where it could lead.
● Visited medical offices handing, fliers, business
cards, and favors.
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6. Starting A Medical Billing Business
Key # 4 - Get Some Experience
● Recommend getting some experience in a
physician's office or billing service.
● Potential clients want to know you are experienced
and can get their claims paid.
● No course or classroom can prepare you like the
real thing.
● Work through the everyday issues a billing specialist
encounters - denials, appeals, insurance plans,
Medicare, etc.
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7. Key # 5 - Find A Niche
● Think of a way to stand out from the competition.
● Develop an expertise in an area of billing or coding.
● Many office staff don't have the expertise in many
areas and are willing to outsource.
● Can be an excellent opportunity for consulting in
your niche.
● Example of possible niche:
 Medical Specialty
 HIPAA Compliance
 Credentialing
 ICD-10
Starting A Medical Billing Business
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8. Key # 5 Continued - Find A Niche
● Something in billing and coding you enjoy and have an
aptitude for.
● The current changes in healthcare that affect billing are
good areas to establish a niche or expertise.
● And I’ve found there’s a lot of confusion in many
specialties of how to correctly code resulting in missed
revenue for the provider.
● Make sure a niche or specialty has good demand. Don’t
waste time on a specialty if there is no one around to
use your services.
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9. Starting A Medical Billing Business
Key # 6 - Promote Yourself
● Complement your networking efforts.
● May not come naturally but is easier with practice.
● Be prepared to sell your qualifications and
experience and how you are a solution to the clients
billing problem.
● Great opportunity because many clients are
frustrated with current billing.
● Create a professional image.
● Website with nice bio of yourself, your expertise, and
articles or info that demonstrate your expertise.
● Use services like Google Places or Bing Places to
promote your business.
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10. Key # 6 Continued - Promote Yourself
● Most people search for local services now online.
● Consider a website. It makes you look professional and
is a big first step to getting a phone call or email from
them.
● Look for innovative ways to promote your business like
free training seminars at the doctors office on issues
such as HIPAA privacy, ICD-10 changes, or good office
billing practices.
● Frequently leads to clients or consultant work and gets
you known as an expert.
● Offer something free or a promotion.
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11. For more information and resources
about Starting a Medical Billing
Business visit:
www.all-things-medical-billing.com