Medical billing is a profession that requires a specific skill set and frame of mind. According to the American Medical Billing Association, here are some questions to ask yourself if you’re considering staring a medical billing business:
- Do you have related or similar job experience?
- Have you ever had or ran your own business before?
- Do you have an interest in running your own business?
- Are you a quick learner? Do you have good common sense?
- Are you self-motivated, organized and willing to work hard?
- Are you a self-confident person?
- Do you feel you can you work with doctors and other healthcare professionals?
- Do you have a business partner, or will your spouse be a partner?
- If your spouse is going to be your partner, will that present any problems?
- Do you have any experience related to this business? (For example, insurance or nursing.) Have you figured out how much money you will need to start and run your business?
- How much money do you expect to earn from this business?
- How much time are you willing to devote to this business?
- Do you have any knowledge in any related fields like accounting or collections?
- Are you willing to learn more either through additional training, reading or taking classes or free seminars?
- Do you have any computer knowledge? If not, are you willing to learn?
- Are you good at talking with people? Are you a good negotiator?
- Are you intimidated easily? Do you fear rejection?
- Can you accept advice and criticism from others?
If you’re considering buying a medical billing business:
- Have you checked to make sure the company is reputable?
- Have you gotten a report from the Better Business Bureau?
- Did you check any references provided by the company?
- Are getting the most products and services you can for your money?
- Do you feel the company is on the level with you?
If you are not comfortable answering “yes” to these questions, do more research before you make a decision about undertaking a medical billing business.