# opening a medical billing company



## mbdonn (Nov 17, 2010)

I want to open my own medical billing company but don't know who to ask the right questions too.  Anyone out there that has their own company that can give me some tips?
I have done billing for 7 years and am certified.


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## Pam Brooks (Nov 18, 2010)

I've been part of a family business (not billing, though), so can give you some general  business suggestions.  

Most of the questions you need to ask are to yourself....you'll need a business plan.  What's your approach?  budget/expenses?  marketing?  Do you have clients lined up?  How will you charge them?  What services will you offer?  Billing?  Collections, coding, reporting, financial planning, credentialling?  You'll definitely need an accountant, and probably a tax attorney, at least to consult with.  You should have 6 months-1 years' salary in savings, in case cash flow is poor to begin with, or you may need to secure a business loan or a line of credit.   You are bound by confidenitality guidelines, so you'll have to have a secure office space. You'll need a Business Associate Agreement with all of your clients.  What software will you use, and does it provide the flexibility, reporting and security features that you will need?  Will you have software support?  What if your system crashes?  What's your contingency plan in case you have a major catastrophe (illness, fire, earthquake)  and can't work.  Do you have liability insurance in case you lose, destroy or make a mistake with the billing records?  
This is why I don't work for myself!   But good luck with your business venture.


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## ERIC_MPB (Nov 18, 2010)

I do and you are welcome to PM me your email and I would be more than happy to help you out in any way.

Eric


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## mbdonn (Nov 19, 2010)

*opening a billing company*

Eric that would be great but this if my first time posting anything on here and I am not sure how to PM....if email is ok then my email address is mbrogers25@yahoo.com.  Any help you can give me would be great.  I have a business plan already.  My husband is an attorney and I should have no problem there as far as drawing up contract as well as help me with start up money, I have found a software company that I feel could be the one I chose which is Advanced MD...ever heard of it?  I am also meeting with my first possible client today.  What I dont know is what to charge, what do you do with checks that are EFT...do they come to you?  What is the best software as far as lease, purchase license or do the online thing that allows you remote access.  I also do not know what you do as far as patient collections and money being sent to me rather then the office.  Do you offer patient billing?  And with all the changes going on in 2013 after everyone is electronic is outsourced billing going to become obsolete?  Any help you can give me would be greatly appreciated.


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## ERIC_MPB (Nov 19, 2010)

I just sent you an email. Let me know if you received it. 

I cannot imagine a scenario that any billing person would become obsolete. Even if the EHR generated a billing the doctors I work for are always making mistakes. It would take an Human thinking EHR to catch every type of scenario. If outsourcing became obsolete so would hiring a billing person internally also.

Yes we are a full service company. I have used AdvancedMD before. We have used over 22 different systems so I have seen a lot of them and advanced MD is a good one. A cheaper alternative that I like just as much is LeonardoMD.

I'll get more in depth in my email. Good luck at your first potential client meeting. Tip-sell your expertise and your knowledge of coding and billing. Everything else is secondary. And sorry for spelling mistakes I'm on my phone.

Eric


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## haimantimukherjee (Nov 19, 2010)

if u need a billing person, i am cpc A,am certified in september 2010, abd want to gain experience in real coding job... i will be happy to serve ur need.
mukherjeehaimanti@hotmail.com


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## mbdonn (Nov 19, 2010)

I checked my email and did not get it.  I am so sorry can you please send it again.  I am really not trying to be a pain I promise.


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## awash2719 (Nov 22, 2010)

*Ange/seeking for a job.*

I am out of work and looking for a job at the entry level. I will take the exam in Dec. and graduate  from the program In May of 2011. . I also had 2 years of medical coding and billing experience verify insurance medicaid, medicare, blue cross blue sheild  and ect.


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## ERIC_MPB (Nov 22, 2010)

Hi Everyone,

Since we are in holiday week my time is very limited. Will be out at client offices and then with the kids. I will be around more next week and will be more than happy to help anyone that I can. I apologize to have to do this.

Eric


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## ERIC_MPB (Nov 23, 2010)

If anyone has any specific questions that I can assist with please email me eric@mpbllc.com

Its easier and much faster to email than to have to log into the forum (the server is a bit slow).

Thanks,
Eric


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