If you are thinking about starting a home-based business, one career you might want to explore is Medical Billing and Coding. While you will need to study to be certified in this career, the length of an online program is short in duration and codes are standardized so that you can draw clients from literally anywhere in the country. In other words, you are not limited to your own city or state.
There is huge potential to grow your business as large as you’d like, obviously taking into consideration how much time you have on your hands, and the best part yet is that you can work any hours of the day you choose.
It All Begins with Training & Certification
The first step in starting a home-based business is to research good Medical Billing and Coding Schools. This is one of the most important steps in the process of starting your home-based business. In fact, most people prefer to study from home as well simply to avoid the traffic and hassles you’d contend with, especially if you live in a large metropolitan area like Los Angeles. Notorious for having some of the most congested freeways in the country, this is one city you’d be better off in when studying from the comfort and convenience of your home. At the end of your course you will need to pass exams in order to be certified, but once that’s accomplished, you can register your business and go right to work.
Registering Your Business
Before you begin looking for clients, you must register your business in your state. Make absolutely certain that you have all the proper licenses and permits that allow you to work from home and you may want to get business liability insurance. If you make any mistakes in billing and your client suffers as a consequence, you can easily be sued as a result. Not only is it possible to lose a client, but you may also be out a huge amount of your hard-earned income.
Equipment and Software
Since you studied from home, you already have a computer. That’s a given. However, you will also need either a fax machine or fax emulating software as well as a landline and a high-quality printer. Laser printers are probably your best option because you may be printing hundreds of pages a day. Also, you will need Medical Billing and Coding software and a subscription to what is called a Clearing House. You won’t be directly billing each insurance company individually but will upload files to the Clearing House of your choice and they, then, send invoices to the appropriate parties.
One Final Step – Marketing
There are a number of ways in which to procure clients for your home-based business, but it is always advisable to use as many marketing strategies as possible. You can cold call private practices and clinics, market online or even send flyers through the mail. Network at industry events and get referrals. Offer some incentive to doctors who refer their friends and watch how quickly your business grows. As a final piece of advice, it’s wise to remember that marketing isn’t a one-hit-wonder. It must be consistent and ongoing so that you can continue drawing new clients. Finally, it’s time to launch! See, that wasn’t so bad, was it?