Starting a medical coding and billing business is a great option for individuals with a medical background. With relatively low start-up costs, you basically need the skills, a business license and the will to build clientele. But many interested in starting this type of business aren't sure where to start.
Step 1
Get your business license. You can apply for a license through your city's by completing an application and paying a fee between $50 and $100.
Step 2
Create a business plan for your medical coding company. This should include marketing, management and financial strategies for your company. If you haven't created a business plan before, consider using a template. Bplans.com offers free templates for medical coding businesses online.
Step 3
Once you have your business license, you are ready to start securing work. Check out bidding sites such as Guru.com that allow you to bid for jobs all over the country and the world. Medical coding jobs are under the Administration category.
Step 4
Secure smaller contracts with companies like Virtual Office Temps. This company connects companies in need of medical coding and billing services with individuals. They don't charge a membership fee; you just need to sign up to receive job listings.
Step 5
Network with local businesses in your community. Many companies are looking to outsource these functions to independent contractors. Check with medical practices and hospitals in your area to offer your services.
Skill: Moderate
Tip: If you don't want to use your social security number for tax purposes, apply for an employer identification number with the IRS. In most cases, they will assign you a tax identification number online.
Warning: Secure the services of a qualified Accountant if you're not comfortable doing your own taxes. Taxes as a small business owner are more complicated and you want to make sure to maximize your deductions.
Keyword: Starting Medical Coding Billing Business
