As the medical procedures and insurance coverage becomes more complex, physicians and other care providers are looking to outsource the administrative tasks associated with processing payment claims. You can take advantage of this growing market need by creating your own medical claims billing business – from home or in as a larger employer.
We’ve grouped the following resources together as a starting point for your research into what it would take to start your own medical billing business. In addition to the free content (such as sample business plans that you can read in full online), you will also find links for additional tools and products to help you move from the “where do I begin?” research step to the “how do I get started?” step — when you’re ready.
Medical and Health Care Sample Business Plans
Looking for inspiration? Check out our bed and breakfast and hotel sample business plans. See how others like you got started and turned their business idea into a reality. These plans can be read fully online.
Medical Billing Business Plans (Full Plan Online)
Physicians 1st Billing and Claims is a medical reimbursement consulting firm dedicated to helping medical practices become more efficient and save money by allowing them to out-source their insurance processing and medical billing to an expert reimbursement service.
Health Plan Administration Business Plan (Full Plan Online)
Southeast Health Plans, Inc. is a service company that will provide health plan administrative services to self-insured employers. The company will concentrate on employers with 50 to 500 employees. Many of these employers have current HMO, PPO, or major national insurance carrier health plans.
Medical Billing Marketing Plan
Once you’ve decided on the type of business you want to start, you must also plan how you will reach your potential customer market and how you will convince them they want to do business with you. That’s what marketing is all about. Read this sample marketing plan and see how Physician’s 1st Billing and Claims targeted its ideal online customer base.
Additional Sample Plans
These, and other Medical and Health Care sample business plans, as well as the fully viewable plans listed above, are available in LivePlan.
Medical Transcription Business Plan (Excerpt only)
Elite Medical Transcription (EMT) offers high quality, low error rate, medical transcriptions. EMT will concentrate on two market segments: physicians practicing alone and small practices of psychologists. These two market segments are the most reliable consumers of outside transcription services. EMT will also serve other parts of the market, which offer more sporadic service requests.
Medical Services Management Business Plan (Excerpt only)
The Medical Group (TMG) has been formed to offer management services to doctors in the ever-changing healthcare environment. A unique market opportunity currently presents itself to a few skilled individuals who have both the awareness of this opportunity, and the experience, credibility, and know-how to access this previously-untapped, profitable segment of government health programs.
Articles on Starting a Business
In addition to the medical billing business and marketing sample plans above, the following articles address many of the common types of questions entrepreneurs have about starting a business. No matter what type of business you’re interested in, you will find these articles to be helpful.
Reducing Risk for a Startup Business
How do you transition from employment to self-employed entrepreneur without losing your shirt? That is a fundamental question….
No Money? No Problem!
Is it possible to start a business without money or collateral? Anything is possible…
The Right Business For You
If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same…
Top 15 Questions from SCORE
1. What kind of person makes a successful entrepreneur? …
Start a Medical Claims Billing Business KitThis guide will walk you through the process of starting a medical claims billing business, with expert advice from people who have been there. Accounting, Auditing, and Bookkeeping Industry ResearchGet valuable financial intelligence and industry trends for medical claims billing and related businesses in an accounting, auditing, and bookkeeping industry research report. We provide detailed reports with five years of financials, business ratios, and more. Better yet, our industry reports are available at the U.S. national, state, and even county level, so you can really understand the local competitive environment. Start your market research the easy way. Select and purchase industry research reports searching for SIC Code 8721 for Accounting, Auditing and Bookkeeping. |
Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.
