ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Is A Medical Billing Business The Right Opportunity For You?

Updated on July 19, 2013

Medical Billing Business - Is it right for you?

There are a lot of ads out there about starting a medical billing business. Schools are popping up all over the place. Many offer online courses making it even easier for people to learn medical billing. The ads indicate that you can make a lot of money doing medical billing. That can be true, but this is by no means a get rich quick opportunity. It is a profession that requires a lot of hard work and sweat.

There are lots of people out there who have no experience in medical billing that are drawn to the field. Without experience, can you succeed in starting and running your own medical billing business? Well, it can be done, but experience in the field is definitely helpful.

If you have experience in medical billing great, but if you don't then you may want to consider a course. Make sure you do your research. Not all courses are created equal. Look for one that will provide references or allow you to contact others who have completed the course. Watch out for ones that offer things that are too good to be true. For example, if they guarentee that you will make a six figure income or they promise that you will get x number of clients in the first six months. Usually if they are making promises that are unbelievable then the course will also be unbelievable - and not in a good way.

In order to succeed in this industry you will have to be a well organized, highly driven individual who is capable of multi-tasking and working in a fast paced environment. It doesn't have to be high stress, but it is fast paced. Things in this industry are always changing.

You also need to be persistant and not one who gives up easily. Contrary to what some in this industry try to tell people, the providers are not just sitting out there waiting for you to come along. You need to market yourself. Marketing is the toughest part of getting a medical billing business going. You will face a lot of closed doors and hear a lot of 'no's'. If you give up easily then you won't succeed.

Reasons Medical Billing Is A Good Opportunity

If you feel that you are the right personality for medical billing then it can be a very good opportunity. In this economy, more and more providers are realizing that outsourcing may be a good option. Having someone that is experienced in billing and focused only on billing can be a great benefit to them. If there current billing system is not good they are most likely losing a lot of money.

Many providers lose a lot of money every year unnecessarily. It is usually do to poor billing practices. Many times the person doing the billing in the office has multiple duties or is just too overwhelmed to handle all issues regarding billing. Usually it is the aging reports that are put on the bottom of the pile and that is a costly mistake. Also, sometimes the billing person just doesn't know how to handle many of the issues such as denials. So they just write them off.

Another issue may be if the providers office has a lot of turnover of their staff. That can be a huge problem. Usually that also means that the training is not sufficient.

Many times providers are unaware of what is actually happening in their billing department. As long as a certain amount of money comes in each month they are good. They don't look at the numbers as far as how many patients are they seeing? How many claims are being processed in under 30 days? How many write offs are done in a month? Year?

In this economy providers are realizing that they need to tighten their belts. Insurance reimbursments are lower, patients' out of pocket expenses are higher, and claim processing is getting more complicated. They realize that they need to take a closer look at their billing process.

If you can go in and educate them on them on the areas that they are probably losing money and how using your service can help them, they are more likely to sign up.

Bottom line, more providers are looking to outsource in order to tighten up their offices. And unfortunately, as with most industries, there are a lot of bad billing services out there. If you can get a good reputation for doing a good job, you will most likely get many referrals.

If considering a future in this field, make sure you research all areas first. Covering all your bases, and making sure you do all of homework will help ensure success. There are a lot of resources out there for medical billers.

Experience or No Experience?

Do you believe that someone with no experience can start a medical billing business?

See results

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)