Medical Billing Service - First Steps To Setting It Up

Outsourcing which had began with the IT sector has burgeoned into other types of

businesses as well and it makes sense, because it allows companies to eliminate flab (read, Costs) and improve profitability. The latest to join the bandwagon is 'Medical Billing'. There are a number of medical insurance policies out there which have not only overwhelmed the individuals looking for health insurance but has also created some issues for the medical profession as well. One of them being the ballooning paper work required to file claims and accompanying it the frequency and the quantity of errors. Hence, if you could offer a solution for medical billing woes of doctors, you can create a successful business.

This is how medical billing process works - you procure the billing details from the client and add the data manually in a tailor-made software program. Next, you send the data through the internet to the health insurance company and receive and/or continue follow up for the payment from them. If needed, some coaxing has to be used to procure payments from delinquent patients. Finally, reports have to be generated and sent to the client. Responding to all billing related questions from patients is also your job.

How to begin?

The medical billing business needs unique skills and knowledge and hence, to get proficient in various nuances and billing process, it is a good idea to join a local college that imparts the necessary education and training to make you ready for business. Following are some of the items that you need to be proficient in:

* Understand basic medical terminology

* Understand insurance claim's lifecycle

* Claims process for medical insurance and third party reimbursements

* Know how to complete common insurance forms

* At least have an introduction to the national diagnostic and procedural coding systems

* Be familiar with medical office computer software

Good knowledge and timely and flawless service is the mantra of this business. Since billing is a source of livelihood for the doctors, imbibing these qualities will boost your odds of grabbing business.

Beware of cons

As any other business, cons have entered the medical billing business as well and hence, one needs to be vigilant. They will come to you with irresistible propositions to help you start and build your business for a few hundred or thousands of dollars but their aim is to cheat you of your money. If you have become a victim of their deceit then the first step is to approach them and see if you can recover your money from them. If it doesn't help and they do not yield to your requests, then the next step is to notify the local police who may apply the necessary pressure on the culprit to return your money. One thing to be kept in mind is that you need to save all documents and proofs relating to the case.

There has not been a better time to start a medical billing service but it is important to do it right and gain the necessary skills before you take the plunge.

by: Daljeet Sidhu

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