How to start your own Medical Billing Service
Are you interested in being your own boss, setting your own goals, and managing your own time through a business of your own? Pacific Medical has the solution.
The Pacific Medical Training Academy teaches how to start your own medical billing service —one of the fastest-growing business opportunities in the multi-billion dollar health care industry.
A medical billing service provides electronic insurance claims processing and patient billing services for medical doctors, chiropractors, dentists, physical therapists, and other health care providers. There will always be a need for medical services; therefore, medical billing services will always be in high demand.
Government regulation, increasing wages, and competition forcing all areas of medical practices to cut costs while maintaining quality care to their patients. The growth of Managed Care makes it harder for health care providers to maintain their profitability. Outsourcing to a medical billing service is a profitable alternative in handling patient insurance accounts.
This allows medical practices to attend to patients, not paperwork. Doctors Need Your Help with Insurance Claims. Health care is the largest industry in the United States. It presently costs this country about $900 billion each year and is growing at an annual rate of ten percent or more. Most of this care is paid through insurance plans which pay major portions of the charge.
Doctors and health care providers routinely wait months for payment on insurance claims. As a result, some providers are often forced to borrow funds at high interest rates to cover monthly operating costs. Clerical personnel is spending valuable time generating paper medical claims when they could be completing more productive work.
Also, cash flow to medical practices is slow and unpredictable. The insurance industry reports that 30% of paper claims are rejected, suspended or denied.
It’s costly and time-consuming to track, research, and resubmit these claims, ultimately resulting in less income being collected. These errors could be eliminated with trained assistance in medical billing. With the electronic claims service, the rejection rate is reduced to less than two percent.