What's Included In The PROGRAM?
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One of the things that helped me in my business was understanding WHY I’m building this business. I had to create goals to achieve my why. And one of my goals is the idea of getting my own office space.
The Billing Industry is expected to grow by 21% over the next couple of years! You are absolutely in the right business at the right time.
You should keep in mind that in Medical Billing Business, there is no one size fit all.
Find ways to set yourself apart from the other medical billing companies.
Practice Management Software (PMS) is a healthcare software that leads with the day-to-day operations of the medical practice.
The reason you are building a Medical Billing Company is for you to provide Medical Billing services to your clients and not promote any Electronic Medical Records/Electronic Health Records Software.
My story was that I got started in the Medical Billing Business for myself, by myself, with very little support back in 2008. It took me a full year to get my first client.
Running a Medical Billing Business, there are more than a few forms needed to fill be filled up. There are a lot of information you need to complete these forms. It’s important that you’re accurate too.
Remember, this is your business. You need to be familiar and comfortable with your own SLAs, the A/R Management, Denial Management, and Reporting. Learn all this in this module!
First things first, in this module you will learn that you need to Identify how the Practice wants you to work Patient A/R. This is because sometimes, in some cases the practice may not want your organization to call the patient.
Perhaps this is one of the most important parts of the Medical Billing Business, something that you need to understand and master.
Important takeaways from this module:
1. To note that first and foremost, you have to give yourself enough time to create the proposal. NEVER quote without giving it some thought.
2. If there’s a sense of pressure to provide numbers over the phone, give them a range – services can run between 7-9%
3. When delivering a proposal, always attempt to deliver it in person. Book a follow-up meeting to review questions.
A good salesperson always understands what’s available, what resources they have prior to offering the sale, and what it is going to take to really deliver once the sale is completed.
Medical Billing Companies MUST follow HIPAA as much as covered entities since they have contact with patient data.
Credentialing, Enrollment, and Privileging – aren’t they all the same?
The answer is NO.
By now, you may have already learned so many things about Medical Billing such as how to be HIPAA Compliant, the difference between ICD10 and CPT Code, you may have gained a lot of knowledge on how to market your business. The Medical Billing Business.