How to Start a Home Based Medical Billing and Coding Business

It's the American dream to strike out on your own and find a place in the world. Owning a home-based business is a great way to do just that. One of the best home-based businesses is medical billing and coding. There are a few key steps in going down this path.

Difficulty:

Moderately Challenging

Instructions

1. Learn billing and coding. Coding certification is key to having a medical billing and coding business. Certification is obtained through the American Health Information Management Association. There are areas of specializing in coding. Depending on interest, coders can concentrate on physician claims or hospital claims. Get some on the job training in billing departments at hospitals and other healthcare facilities to get billing experience.

2. Set up a home office. It's important to take the business seriously. Treating the business as a hobby will not produce full time results. Create an area away family and other distractions. Make sure a coding manual is available and the desktop or laptop has high- speed access for accessing insurance company web sites. Fax machines are useful unless there is software available on the computer to send and receive faxes.

3. Market to providers. Finding business is the most challenging portion of a home based medical billing and coding business. Visit doctors offices or hospitals to find out if they have available work. It may be useful to market the business as one that takes old claims that are deemed uncollectible. Success with difficult claims will develop a good reputation and garner more business.

4. Network with other billers. Work is hard to find and it may be difficult to find home-based entrepreneurs who are willing to share ideas. Keep at it and eventually like-minded individuals will rise to surface. Work together to form alliances that may garner more business for both entities.

5. Join a professional organization. In addition to informal contacts, formal contacts through professional organizations will be the gateway into more business. Organizations like the American College of Healthcare Executives offer workshops to hone healthcare skills as well as a variety of other networking opportunities to meet other professionals. Healthcare is also very specialized, so there are professional organizations for various arms of the healthcare industry. The National Association of Homecare, for example, seeks to lobby for the needs of homecare patients and providers. Medical billers and coders in this particular area will be well served to join this type of organization.

Resources

• Healthcare Executives