Medical billing sample business plan

Where to Find a Business Plan Growthink. In addition to that, it has helpful tools and know-how for managing your business. Cayenne Consulting — good resource for business entrepreneurs including a start-up valuation calculator, resource directory, and a very popular blog for entrepreneurs. VFinance — View hundreds of real business plans in pdf format.

Medical billing sample business plan

Estimated Income and plan to attain Milestones with timeframe If you plan to obtain start-up funding, a lender will most likely require a more detailed business plan.

medical billing sample business plan

Basically your medical billing business plan states what you are going to do and how you are going to get it done. It starts with a mission statement that describes what you are going to do to be successful.

Your mission statement might go something like this: Create medical billing service business by offering superior knowledge and service and utilizing state of the art billing systems and exemplary customer service.

Most practices in this specialty are missing out on significant revenue opportunities due to lack of expertise in the unique requirements of insurance reimbursement in this specialty. Many pain management practices are outsourcing their reimbursement to billing services that do not understand the unique requirements of billing for pain management.

My expertise provides a marketing advantage in identifying specific missed reimbursement opportunities as well as estimating the significant improvement in income for pain management practices in the Atlanta area.

ACME Medical Billing Associates will capitalize on this niche, our competitors lack of knowledge in this field, and our own expertise and my track record as a pain management billing specialist for over 10 years.

medical billing sample business plan

Estimate Your Income First we need to estimate the anticipated monthly income for a client. The numbers I use here are strictly for illustrative purposes. The income can vary widely depending on location, size of practice, specialty, how long established, etc.

This covers clearinghouse fees, software maintenance and updates, phone and internet service, printing supplies, postage, licenses, marketing, training, etc. The issues you have to deal with will double with a second practice.

This is when you need to think about hiring some part time help. I had excellent results hiring stay-at-home moms in my neighborhood who wanted to earn extra money. This will add to your costs that you need to factor in as you bring on new clients.

Again this can vary widely. Set Attainable Goals A good approach here would be to set a goal of attaining 1 new provider a year.

This is a very achievable goal and allows you to learn and develop your business. To sign the first client I would recommend setting a goal of 6 months - maybe three months if you are real aggressive. You could then assign yourself action items to attain this goal.

They might look something like this: Call 5 practices a day Visit 2 health fairs and hand out business cards Place business cards in hospital physicians parking lot Deliver baked goods with marketing materials to 5 potential clients offices a week Attend monthly BCBS insurance seminar Mail out 20 letters a week to potential clients offering to perform a HIPAA compliance assessment I just listed a few of the marketing techniques I used as examples.

Your marketing strategies will vary depending on results. Start Up Funding Your business plan is a great place to plan your start up funding needs until your medical billing business becomes profitable.A Business Plan is crucial for starting and running your business successfully.

Sound business plans can help you get a loan, keep you on track toward your goals, and provide a reference for benchmarking, reviewing results and making adjustments in your business.

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Accounting Service Business Plan - Mission statement, Executive summary, Market analysis summary

Get the most out of sample plans. Bplans has over sample plans to learn from. Before reading the plan, hear what the business planning experts have to say about getting the most out of business sample . 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.

Starting a Medical Billing and Coding Company – Sample Business Plan Template. 1. Make the Decision. First of all Before you start your at-home medical coding and billing services, you need to think carefully about whether you have all that is required to succeed.

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