Mindmasterclass dot Com: Health and Medical Blog

If you’re seriously considering a work-at-home business or career in medical billing and coding and signing up for a medical billing training program, I’m going to shortcut your research here. I have included some of the best tips to help you find the best low cost program for you.

There are so many different paths you can take. You can sign up online or attend an on-campus college or university. And you can go to work in a health clinic setting or start your own home based medical billing and medical coding business. In any case you’ll want to learn using electronic medical billing software.

There are medical billing training and coding online certificate programs that are designed to help students fill positions for medical coding and billing professionals or set business at home. Highly skilled medical billing and coding specialists are in high demand. Recently there has been a rapid rise in medical tests, treatments, and procedures that are increasingly being scrutinized by the many health insurance companies, various regulators, courts, and also consumers.

Patient information must be entered properly using medical billing software into computer databases to fully comply with the new federal legislation that requires the use of well-kept electronic patient records. And health care clinics and other facilities are having a hard time attracting good, qualified workers; this is mostly because they don’t have in-house formal training programs and enough resources to give on-the-job training for medical coders.

What is medical billing and medical coding? Medical billing is actually a subspecialty of medical coding. There are programs available that offer just billing training but you want to consider a training program that gives you both billing and coding in one training program because coding is really the first step in the process of electronic medical billing.

Usually a billing and coding training program takes about one or two years to finish. It’s good to note there is certification for several levels. This gives coders a chance to show off their skills and get higher salaries. It also includes courses on terminology that are used in insurance billing, besides other important relevant medical terms including terminology for diagnosis and procedures.

You’ll find that some of the schools offer online courses and good self-study formats, important if you plan to study part-time or while you are holding down another job.

Some universities offer associate degrees in Health Information Management. Their medical coding and billing courses help prepare students for jobs managing patient information and insurance claims. You will learn electronic medical billing and coding software, medical terminology, and how healthcare clinics and facilities work. These courses can prepare you for taking the Certified Coding exams where required.

For example one college offers a 29 week master certificate program that includes ICD-9 and CPT-4 coding. Students take courses in medical terminology, anatomy and physiology, and medical ethics and law. The courses also include training on complying with the new Healthcare Insurance, Portability and Accountability Act. This college offers classroom training and students can participate in an externship program where they can practice their newly learned billing and coding skills.

There are many online programs as well. Make sure to compare them all carefully before you choose. Read over any contracts fully to fully understand the financial obligations -what it’s going to cost, etc. Also what happens if you don’t like the program or want to quit. Have someone else read over this contract with you. I can’t emphasize this enough that you must know what you’re getting into and can handle it financially. You don’t want any surprises down the line.

Medical billers are necessary members of any medical office team whether they work on site or work from home. It requires knowledge, flexibility, knowledge and skill every time a patient has received any medical attention because a claim must be coded, billed, and processed.

If you’re considering a medical billing career it offers wonderful challenges, rewarding experiences, and excellent pay. It’s also good to have clerical and good organizational and people skills. Any high school courses you’ve had in math, health, biology, typing, bookkeeping, computers and office skills will help.

Besides career seekers, thousands of home-based entrepreneurs are starting businesses in medical billing and coding, and also medical transcription. These tips should help shorten your research. There is much to be learned about on-campus or online medical billing training before you commit. If you need help with financing there is money set aside by the federal government to help with online degree programs and is worth checking out.

If you’re looking for the best information about the best medical billing training I’m going to help you with a few tips in this article.

Medical billing specialists actually handle a wide range of duties including medical office operations, electronic medical billing and coding, taking care of insurance forms, and using and keeping up with the newest medical billing software. Statistics report that there are more than one million of these specialists in the US.

You’ll learn the newest electronic medical billing software called medical practice management software, and the newest and improved versions are quite different from the older versions. But there is a variety of medical records software and electronic medical billing software packages that you will use.

As a medical billing specialist it doesn’t matter whether you plan to work for a health-related clinic or company or work from home. Medical clinics and physician offices, various insurance companies and your local hospital all need trained staff to take care of all the billing tasks.

The process of medical billing means taking care of the submission of medical claims and then following up on those claims to health insurance companies so you get payment for any medical services that were performed by a health or care provider.

If you take one of the Internet or online medical billing training courses you’ll learn the trade secrets and also how to use what you learn to start a medical billing business from the comfort of your home. And learning from your home computer may just be the best way for you to learn how you can start a medical billing career.

One of the first steps is to decide whether you should take your electronic medical billing training online or on a campus.

After completion of your training you can expect to earn between $25,000 and $30,000 annually if you’re working on salary. You can find medical billing jobs throughout the US, with wages ranging from $10 to $20 on an hourly basis depending upon your range of experience and your geographical location.

The smaller medical offices usually outsource billing and coding work to work-at-home medical specialists who have an established, reputable medical billing business. To completely understand the payment of a medical billing claim, the health clinic owner must have thorough knowledge of all the insurance plans that companies offer and know the laws and regulations that preside over them,

Because many health insurance claims are rejected because of faulty billing practices, doctors and health care providers only hire trained professional medical specialists for medical billing and coding. They no longer depend on regular office staff to handle it.

So if you’re considering becoming a ‘medical biller’ you need to decide whether you want to go to a local vocational or community college or take an online medical billing training course. Check with your local Better Business Bureau to check out the reputation of any local schools you’re considering. You want to make sure they have no outstanding complaints.

When deciding on the best program for you make sure to compare all the offerings and make sure it includes everything you need. Read over any contracts thoroughly so that you know exactly what you’re committing to – what it’s going to cost, what happens if you can’t complete the course, etc. Have a trusted friend, parent, spouse, partner or advisor read the contract also. If you’re going to an accredited college or university this will be less of an issue. You want to know that you’re signing up with a reputable online or vocational school.

Today starting up a medical billing business from your home is easier than ever. You don’t need a college or university degree to become a medical billing specialist. Learn all you can about medical billing before you sign up whether it’s a school online or an on-campus school.

Some of the online medical billing training programs have basic introductory classes, intermediate classes, and classes for those who are advanced. Once you finish your training you’ll be fully trained and informed and immediately ready and able to either start a work-at-home business or comfortably find a medical billing job. It’s not well publicized but the federal government has set aside money for online degree courses and you should check this out so you can save money on your course.

Yes, you can work from home in medical billing, just not typically as an “employee.”

Nearly 600,000 Americans lost their jobs in January 2009, according to the U.S. Department of Labor, and 2-3 million more jobs are projected to be lost over the coming year.   Sadly, because of this, “work from home opportunity scams” are on the rise.  These scams prey on people’s vulnerabilities and fears and with so many people out of work, wondering what they are going to do next to sustain themselves financially, there’s a lot of vulnerability and there is a lot of fear out there. 

Over the past couple of months, many television programs and news shows, such as 20/20 and Dr. Phil, have devoted air time to exposing scams and telling stories about individuals who have fallen victim to these scams.  These television programs understand that this is a hot topic in high demand, more so now than ever before.  Just like bacteria, germs and disease, given the right temperature (the state of our economy) and set of circumstances (vulnerability and fear), the scams are growing and multiplying. 

There is a complexity to this issue though.  Just as there is usually a bit of truth in every lie, the scams are allowed to flourish because, the truth is, small businesses/home-based businesses have been on the rise for quite some time and account for more than 50% of new job creation!

According to the United States Department of Labor:

“With more than one million new businesses each year, America’s economy depends on small businesses for its vitality and growth. According to the 1997 report of the U.S. Census Bureau, the nation’s 17 million small, non-farm businesses constituted 99.7 per cent of all employers, employed 52 percent of private workforce and accounted for 51 percent of the nation’s sales. Small business-dominated industries provided 11.1 million new jobs between 1994 and 1998, virtually all of the new jobs created during that time period.”

The scams operate based on this “truth” – which accounts for all the confusion as to what and who are scams and what and who are legitimate opportunities.

Medical Billing:  Employment from Home Isn’t the Opportunity

I have been in the medical billing industry for over 20 years.  I am the President/CEO and founder of an online medical billing course program.  Not a week goes by that I don’t receive a call from someone asking “how they can find a job in medical billing which will allow them to work from home.”  The caller is surprised and sometimes defiant when I tell them that such an opportunity does not exist.  

Is there opportunity in medical billing?  YES.  But not in the capacity that most people have been led to believe!  Let’s uncover the lies and the truths about the opportunity that actually does exist in medical billing.

Medical Billing Opportunity:   Employment from Home   - DECEPTION/LIE

So why is it that so many people believe that they can obtain employment in medical billing working from home?  The answer is simple.  Over the past decade or so, there have been scam companies placing advertisements in the “help-wanted” sections of small, home-town type newspapers.  Here is an actual ad from a company called Medicor who was sued and shut down by the FTC:

“EARN $$$ HELPING DOCTORS process claims from home. $20 – $40/ hour potential.  Computer & modem required. We train. (888) 736-XXXX Ext. 895.”

Upon calling the number in this ad, the caller was told that they could make an excellent income from the comfort of their own home “processing insurance claims for doctors.”  All they needed to do was purchase the medical billing software (cost: $325 – $495).  Upon purchase, the caller was sent a medical billing software program that didn’t even work, but that didn’t matter, because they would never have the opportunity to use it.

The Truth:  Doctors do not hire medical billing staff and then allow them to work from home.  When a doctor hires someone to fill their medical billing position, this person is expected to show up for work just like all the other employees. 

You can read full Medicore story on the Consumer Affairs website at:   http://www.consumeraffairs.com/news/medicor.html.  For more information about companies that were shut down, you can visit the Medical Billing Scamwatch Forum by going to:  http://medicalbillingscamwatch.yuku.com/.

Medical Billing Opportunity:   Employment within a Doctor’s Office or Billing Company  – VALID/TRUTH

The medical field is booming. Demand for medical billers is high.  As the baby boomers reach retirement, the medical field is growing and expanding to accommodate this generation. Medical billing is just one of the many jobs in the medical field that has great job potential and growth.  But notice the word JOB.  A job = employment.  A job/employment in medical billing requires you to show up for work in return for an employee paycheck.   It should not be confused with “medical billing business ownership” which does not consist of exchanging hours for a paycheck from your employer.

The opportunity to gain a position in medical billing working within a doctor’s office or working for a medical billing company does exist.  It is viable and it is valid.  How much money can a medical billing employee expect to make?  You can find this information in the article entitled “Medical Billing & the Economy” at www.medicalbillingbusinessresources.com/articles/medicalbilling_economy.htm.

Medical Billing Opportunity:  Home/Small Based Business Ownership   -  VALID/TRUTH

I personally have 13 years experience in owning/operating a medical billing business which I started from home.  I began my business in order to be able to stay at home with my children.  I eventually grew my business to a point that I felt it necessary to move it to a commercial office space (when the children were older).  I take it personally and oftentimes get very frustrated when this medical billing opportunity is misrepresented as an “employment from home” opportunity.  It is not! 

When you begin a business in medical billing – or in anything – you are not “employed” by anyone.  You are “Self-Employed.”  You do not collect an employee paycheck from anyone.  You collect money from clients that you provide services to.

Beginning a business in medical billing – or any other industry, for that matter – requires a realistic investment!  In a medical billing business, you are providing professional services to professional individuals.  In order to succeed, you must realize that a realistic, professional investment is not an “option”…    it is a must.  Your investment needs to be proportionate to your expected return.

Another type of call that I get quite often is “I want to start a medical billing business from home but I don’t have any money.”  Guess what?  You can want all day and all night long, but without the capital that is required in order to begin a medical billing business – it’s not going to happen.   Let’s say you want to open up a Blimpie franchise.  How do you think Blimpie is going to respond when you call them and say, “Hi Blimpie, I’d like to open a Blimpie franchise, but I don’t have any money.”  They might respond, “Call us back when you do.”

How much money can be made in a medical billing business?  This varies.  I get this question quite a bit and my standard response is, “I know a wife/mother who handles 2 doctor clients putting in about 3-5 hours per week in order to supplement her husband’s primary income and stay at home with her kids who is bringing in approximately $1500 – $2000 per month.  I also know a multi-million dollar per year medical billing company.  And I know so many in between.”

Summary

Medical billing “employment from home” is not a viable, existing opportunity.  Gainful employment working in a medical billing position within a doctor’s office or medical billing company is a real/valid opportunity.  Beginning a home/small business in medical billing is also a real/valid opportunity, if and only if, you understand the investment of time, money and research that is involved.