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Entrepreneur's Small Business Development catalog listed this service business as one of their Top 25 Businesses for 1994. The health insurance industry is an ever-growing and bureaucratic segment of the economy. Many people—or their health care professionals—have to file medical claims accurately and quickly. The owner of a medical claims processing business assists clients in completing and filing claims or disputing those claims rejected by Medicare or private insurance companies. Knowledge of regulations and procedures for filing medical claims processing along with fast and accurate service will increase referrals from health-care professionals, institutions, and patients themselves. Medical claims processing training is requisite to assure the guaranteed services as the most professional service provider for the filing of medical bills with quick payment. Medical claims processing software application helps a lot in processing the medical bill-payment quickly and manageably.
Start-Up Costs And Financing Sources * $5,000 to $10,000. * Personal savings, loans from family or friends, small business loans, lines of credit on credit cards. Pricing Guidelines Average is $25-$60 per hour. Marketing And Advertising Methods And Tips * Send direct mail to physicians' offices and medical insurance companies. * Place ads in local newspapers * Attend hospital seminars. * Encourage word-of-mouth referrals. 4» Place an ad in the business telephone directory. * Print business cards and brochures. Essential Equipment A 486 computer with a 200 MB hard drive and a tape backup system; medical claims processing software, billing, and spreadsheet software; fast modem for transmitting and receiving claims; photocopier; fax and separate telephone line with answering machine or answering service. Recommended Training, Experience, Or Needed Skills * Take courses offered by medical insurance companies and local business schools. * Work in a medical or insurance claims office. * Be familiar with sending and receiving information over a modem. * Be familiar with insurance and Medicare policies and procedures. * Know medical terminology. Income Potential $25,000 to $60,000.
Type Of Business
Primarily an in-home business Best Customers Doctors and other medical professionals who need to file medical claims and billing processing to insurance companies or Medicare; individuals who need to file claims or dispute rejections of claims. Medical claims and billing processing is a doctor's key to get payments. Regardless of the reality that the health-care business is flourishing well in America, most doctors and other medical claims processing providers have no plan how to get them paid rapidly and professionally. Public and governmental insurance companies, HMOs, PPOs and a multitude of other inexplicably initialed plans have connived to make medical billing claims processing as indefinable as the pan of gold at the closing stages of the rainbow. Medical claims and billing processing expert can noticeably raise a doctor's instant income. Through the miracle of internet marketing and medical claims processing software the automatically broadcast indemnity claims directly to the insurance company or, in further you can say in the account of medical billing claims processing company. Medical claims processing training courses are very helpful to open the new horizons of medical claims processing employment for the individuals who want to join this profession. Medical claims processing picture is very assistive in displaying the full-detailed idea of medical claims processing offshore. It is very good business for the women who may run this medical claims processing at home along with performing the domestic duties. Processing medical claims from home is a good job for the women who may do easily this task by remaining at home.
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