We've all seen those ads in newspapers, magazines and on the
internet that talk about the "great" need by doctors or others in the health
care profession for handling medical billing, or electronic medical claims
processing.
Typically, promises are made of big money for providing services like billing,
accounts receivable, electronic insurance claims processing and even practice
management to doctors and dentists. There's no denying that health insurance
these days is complicated.
Electronic submission of claims is becoming more and more the norm and doctors
and dentists who don't get with the program, don't get paid timely or worse,
don't get paid at all because of errors in billing. With so many doctors and
dentist too busy to pay attention to these details, you're guaranteed a steady
flow of clients and thus, steady income and possibly riches.
But will you actually benefit? What promoters of the medical billing centers or
medical billing programs don't tell you is that you have to learn complicated
and constantly changing coding, know medical terminology, and be knowledgeable
about the latest laws and regulations concerning Medicaid, Medicare, and a host
of other issues. Not easy to learn without some relevant background. And it's
not cheap either. "Investments" run from $2,000 and more for software, training
(frequently for several days at their corporate headquarters; travel, room and
board not included) and technical support.
That's not to say that there isn't a legitimate need for medical billing
services. However, many doctors and dentists purchase the software for
themselves and obtain training for their staff or outsource their needs to the
larger and well-established firms that have been providing medical office
management, including electronic medical billing, for years.
Before you plunk down your hard-earned money, investigate the "opportunity" to
see if you can actually gain clients who will use your services. Are you
comfortable selling? Remember, you'll have to promote your business to doctors
and dentists who might already have staff that are better equipped to handle the
work. Are you able to generate a lot of leads? Fees for processing claims forms
are usually low, generally $1.00 to $2.00 per claim, you'd need a lot of claims
to generate a decent income.
Remember, if it sounds too good to be true, then it probably isn't. Trust your
own instincts.
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