Medical Biller: A Rewarding Home-based Business Opportunity in the Health Care Field
Do you have an entrepreneurial nature but want the security of working in a growing field? If so, you might want to consider starting a medical billing business. As a medical biller you can earn a good living while pursuing an entrepreneurial lifestyle.
Of course, any business startup will require significant effort in both marketing and sales and you will want to ensure that you have a sufficient savings to make it through the first six to nine months when cash flow will be minimal.
While it is exciting to start a new business, you will need to perform some amount of due diligence to determine if the costs of training, job responsibilities, and income ranges are aligned with your expectations and needs. To get you started here is a brief overview of the field.
Medical Billing
Job Description: The primary responsibility of medical billers is to ensure that health care providers are paid for the services they render. Medical billers are responsible for submitting electronic insurance claim forms on behalf of physicians and other health care staff to insurance companies, as well as such government programs as Medicare and Medicaid. Those just starting out in the field can expect to bill between $8.00 to $10.oo per hour while those with significant experience and large accounts can earn upward of $65,000 per year.
Job Outlook: Those already employed in the health care sector, such as nurses and allied health staff are generally better prepared to launch a medical billing business because they are familiar with the insurance claims process and medical terminology. It may also be that they have a base of contacts on which to draw to obtain their first clients. Many medical billers have expanded their business by adding on such services as medical coding and accounting. Medical coding is the process by which illnesses are assigned to a category for the purposes of reimbursement. The classification process determines the amount that health care providers will be reimbursed under their particular insurance coverage whether that is Medicare, Medicaid, or private insurance.
There are many training programs available to become a certified medical biller. In most cases a highs school diploma or GED is required for entry. The American Academy of Professional Coders (AAPC) offers certification in the field of coding and will be a valuable credential to have when seeking out your first clients.
For more information on this career, visit the Department of Labor’s Online Occupational Outlook at http://www.bls.gov/oco/ocos103.
