There are three ways to begin a business involving medical billing from home. The first is to gain experience in the medical billing field by working for a physician’s office and after some time has passed and you understand the doctor’s medical program you can then ask to telecommute. The second is to apply to a physician’s billing service that will allow you to work at home. Work at home agencies offer support for you and do not charge you to work for them. Any opportunity that requires you to pay for the right to work for them is a scam, an opportunity to get ripped off. The last path is valid only if you are an experienced and certified biller. You can ask physicians to give you their overflow billing to see how well you do and bill from their as well as ask for referrals. This is truly a home business of your own and you need entrepreneurial skills to succeed.
Entrepreneurs must exercise extreme caution in becoming involved in work at home medical scams. Many of the companies that advertise along the lines of ‘Make $50,000 per year at home as a medical biller’ either want to sell you software or charge you a fee to get some generic tips on Home Medical Billing. Common sense tells us that if you were to do medical billing from a physician’s office there would be no fee for the opportunity to work for them. No legitimate company will charge you for the ability to work for them. In addition, purchasing basic medical billing software is a bad investment unless it is from a reputable company that will give software updates as changes in medical billing occur. Scam companies do not give software that is up-dated easily and you might have to buy new software to keep up with the dynamic changes that often occur in medical billing.
While educational requirements for medical billing and coding vary, getting a certificate in this field can be done on-line. Time varies from one month to more than 2 years. Make sure that you enroll in an accredited program and that the school provides job placement help.
At a minimum, to begin medical billing from home, you will need to know International Coding Description (ICD) and Common Procedural Terminology (CPT). Without these skills it impossible to accurately bill insurance, Medicare and Medicaid. It is also very helpful to take some course work along the lines of Billing Private Insurance, Billing Medicare, Billing Medicaid and Billing for Worker’s Compensation. Each type of billing has different requirements. In fact many biller/coders specialize in a particular billing field. Additionally, billing for pediatrics is quite different from billing for ophthalmology – so it is also wise to gain knowledge in the field that interests you. A quick recap with additional information is that Medical Billing requires knowledge of:
- Medical Terminology
- ICD and CPT coding
- Anatomy
- Completion of specific forms
- Coding for the practice area of care
- Coding skill for different types of insurance
- Telephone skills to interact with patients and insurance carriers
- Computer skills – typing at 35 words-per-minute
- Customer service skills
Medical billing from home is a legitimate home business. However, if this field interests you, be aware of the drawbacks. No sick time or paid time off – if you do not work you do not get paid. No health insurance or retirement plan. You have to pay both employee and employer payroll taxes. There are deadlines you must meet and you must have a quick turn around time. You will most likely need to attend seminars on medical issues at your own expense.
On the other hand having a medical billing business from home has its own advantages. You set your own hours – taking only clients that fit into your schedule. At home moms with kids can avoid daycare costs. You are truly your own boss. Many billing services started as home businesses and grew to substantial business entities.