How to Start a Home-Based Business in Medical Coding
The Bureau of Labor Statistics reports that by 2018, the health care industry will require 20 percent more medical coders than were employed in the summer of 2010. People who are trained in the field of medical billing and coding can capitalize on this shortage by starting a home-based business in medical coding. A home-based business in medical coding allows coders to act as independent contractors for multiple health care facilities.
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Instructions
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Demonstrate your credentials before beginning a business. Training in medical coding is available from a variety of educational institutions. Community colleges are an excellent resource for earning either a certificate or full degree in medical coding. There are also numerous online programs offered by training schools and medical coding organizations.
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Obtain a certification credential from a career organizations. In nearly all cases, you will be required to take a written examination in order to receive certification. Though certification in medical coding is voluntary in all 50 states, it's recommended for any medical coder interested in starting his own home-based coding business. Certification is a way to ensure that you've reached a high level of proficiency.
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Prepare a business plan to help you think through what you need to succeed. Set up a home office--get a computer, phone and Internet connection devoted exclusively to your work, as well as any office supplies and furniture you many need. Check out zoning requirements in your neighborhood if you plan to see clients at home.
Your computer must be able to access and use both the American Health Association's Current Procedural Terminology (CPT) and the World Health Organization's International Classification of Diseases (ICD) databases. Have reference materials and standardized forms from services like Medicare on hand in your home office.
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Network within the local medical community to find clients. Medical coders should also check with their training program to see if there are resources or networks that alumni can use. Cold-calling hospitals or physician offices and explaining your services is another option. You may also be able to find clients by utilizing a website or sending an opt-in email campaign to medical firms.
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Tips & Warnings
Be leery of companies that offer leads and other services to inexperienced individuals. While these programs may sound enticing, the Federal Trade Commission has received hundreds of complaints against fraudulent companies making inflated income claims and providing out-of-date leads to work-at-home medical coders.
References
- Photo Credit working from home image by Tracy Martinez from Fotolia.com
