5 Medical Billing Myths

If you’re looking for a easy home based business to start then a medical billing career may be exactly what you’ve been looking for.  It has ample room for growth and can pay very well if you’re willing to work hard in order to reap the rewards.  I hear rumors floating around all the time about medical billers that simply are not true.

Here are the top five medical billing myths:

Myth #1 – “I won’t have to pay for medical billing software.  I’ve heard there are free versions online.”

Most of the things worthwhile aren’t free and billing software is no different.  If you do manage to find a free version online it will not have all of the features you’ll need to be successful.  One of the major considerations for choosing a billing software is whether its HIPPA compliant.  If it’s not then it not worth your time even if its free.

Myth #2 – “All medical billing training schools are equal so all I need to do is pick one.”

Honestly, you don’t need to have a certification to start a medical billing company.  If you possess on the job training and thoroughly know the medical rules and guidelines you can start a business today.  If not, then make sure the institution providing the training is accredited.

Myth #3 – “Starting home based medical billing business is simple”

If you know little about marketing a business then you will starve regardless of how much you know about your field.  You have to know how to market your services before you can be successful and this requires many long hours of work and dedication.  A simple goal in the beginning is to get your first doctor.

Myth #4 – “I’ve heard I can make at least $50,000 my first year in business.”

Medical billing and coding can be a lucrative profession as there is no limit on how many doctors you can service if you have the staff.  However, it will take some time to build trust and credibility as a complete newbee.  There are also upfront costs in hardware and software that will need to be recovered before you show a profit.  Be patient, provide excellent service and over time you will see your income steadily increase.

Myth #5– “Medical billing and medical coding are one in the same.”

These two skill sets are like brother and sister, although related that are not the same.  Most students that I have trained learned how to do both and I’d suggest you do too.  Having both skills makes you more marketable.

As long as you have realistic expectations about the field of medical coding and billing you’ll do just fine.  Don’t buy into all the hype and I promise you’ll have an exciting and lucrative career