Business At A Glance
Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No
The medical billing industry is extremelycompetitive. However, for the determined entrepreneur there is still agood opportunity to earn $40,000 per year or more operating a homebased medical billing service.
All medical billing is processedelectronically and sent directly to Medicare clearinghouses, socomputer equipment will be required as well as medical billing softwareto operate the service.
Additionally, you’ll have to familiarizeyourself with the diagnostic and procedure coding systems used bydoctors and health-care professionals on medical claim forms toindicate the type of service being billed.
Currently, medical billingservices are charging clients in the range of $2 to $3 per claimprocessed, and the overall profit potential for the service is good,providing you can process medical claims on a volume basis.
There’s asteep learning curve for operating a medical billing service andcareful planning and research techniques will have to be practiced.