Discover the Best Medical Bill Book Format for Research and Development

Medical bill book format for Research and Development

so you're considering starting your own medical billing business and one of your biggest concerns is how much is it going to cost you to start up your business so in this video I will share with you how I started my medical billing business for about 150 hello my name is Kat and I am the owner of Superior medical Consulting where we provide Superior medical billing solutions for your private practice I am a certified professional coder a certified Professional Medical auditor and a medical biller so when I first started my medical billing business one of the things that really concerned me was how much it's going to cost for me to start my billing business before this I had a graphic tee business so I kind of understood that startup costs is like you know you can go into a business and not know what to expect if you're not prepared which a lesson learned for me but um with this medical billing business because we are in the business of Revenue like I knew I had to take this a little bit more seriously and also structure it in a way that it wasn't a cause burden on me and I suspect that a lot of us are in the same position like we want to have our own business but the startup cost is one of the things that's the barrier for entry for us um luckily starting the medical billing business doesn't have to be cost heavy for you um it could actually you could actually start with zero but um it's a caveat to that but if you want to go full on it is possible at least for me it was possible to start my medical billing business for about a hundred and fifty dollars so I'm gonna go ahead and explain um the way that you can start for zero dollars and then the way that you know if you want to go ahead and invest a little bit more into your business you could start for around 150 dollars so the first way um that you can start your medical billing business if you would like to start with zero would be and to be a contract Biller and what that means is you will look for jobs or look for billing opportunities that um is on a contract basis whereas the provider is just offering you some work for maybe a certain amount of time or for a certain project and they are not uh requiring you to be an employee with them they just want someone to contract come in work for them for this particular project or work for them for a particular amount of time and then you know you guys part ways in that instance you would be a contract employer employee that means you won't have any benefits or anything but you have the opportunity to you know kind of negotiate some things negotiate your price negotiate your hours negotiate the services that you provide things of that nature and up in that way you can consider yourself your own business owner because you pretty much are like you you you it's your business you just don't have it funneling through a particular entity you're like a sole proprietor so um so that's one way you know I'm usually with that you don't have to have like anything branded like you don't need like a branded email you don't need a website you don't need anything of that nature the only thing you need is your personal bank account and perhaps your own equipment if your employer is not willing to um you know furnish you with that um so that's simple clear-cut go out on job sites um and answer ads that say contract um you know contract work and you on your way it's sort of like the Uber delivery type things like you just sign up and you go you're Your Own Boss create your own hours things of that nature if you want to be a little bit more structured and like um you know kind of solidify yourself in the business world and then you probably would need to like establish your own company which is the route that I took so I um you know created my company um January 1st of this year of 2023 and um the cost that I encourage to start my business was a little bit less than 150 dollars um there was some costs associated after I got up and running but my initial investment was about a hundred and fifty dollars and I'll go ahead and run down the things that I started with and the things that I know is imperative that you start with very soon after you get everything up and running so um the first thing I had to do was get my business name and snatched out the market so I know I wanted my business to be called Superior medical Consulting so I went on my State website and searched to make sure that the name was available and then I also searched to make sure that the domain name was available once I saw that those two were available that I went ahead and purchased it um my domain I purchased it through canva because I created my own website myself and canva um if you wanted to you know have a branded website I think they charged you something like 17 maybe 20 dollars I'm thinking about twenty dollars I didn't go back to like double check but it's it wasn't like over it wasn't definitely over fifty dollars but it was like twenty dollars um and so once I did that I created my website I had my domain um as like secured that was that the next expense that I occurred after that was establishing my LLC again I did that on my own I would not recommend you establishing your own LLC your LLC on your own if you have not done it before or if you're not willing to keep up with all the paperwork that in the steps that's needed to uh make sure that your LLC is secured um you know you should probably hire an attorney to do that if you are someone that you know needs that guidance but because I've had a business before um like my t-shirt business if I had a business before I um established my own LLC followed the steps to do that and pay the money in order to get that up and running that was about a hundred and twenty dollars in my state um so with that you know you need your own register agent you need your if you don't have a physical building you need to purchase a virtual address you need all of that stuff so you need to that that comes with that so you know um that was that was the biggest expense was purchasing my LLC after that I um went ahead and got my branded email now my brand new email I went through GoDaddy um again because I already had a business they were always just like get send me emails about offers one email that I received they had to offer to have get a brand new email for about three dollars for a quarter it's like it was like a dollar a month or something like that so I went ahead and did that so my email initially was 2.97 um and that secure my email for at least for the first three months so I got an email that was at Superior medical consulting.com so whatever you know info at Superior medical consulting.com you know my name is superiormedicalconsulting.com customer service at Superior medical consulting.com whatever you want your email to be that's what I went with and then after that I knew that I needed to have a toll-free phone number where I wanted a toll-free phone number I needed a fax line so um I researched you know some phone line companies um and then the uh class that I took to help me prepare for my medical billing uh business um the instructor suggested ring central so I went ahead and went with rain Central they had a 14-day trial offer so that was a zero 3.99 for me um so I went ahead and took advantage of that and I signed up with RingCentral it was free for 14 days and so I didn't incur any out-of-pocket costs for that of course I have my own computers um you know things of that nature I already had a shredder I already had a printer I already had you know a lot of that stuff so I didn't need anything I already had my books because I am a a coder you know so I already had that type of stuff so I didn't need to invest any money into getting anything like that it was just mainly to get my business set up so that I can go ahead and start marketing myself and to look like a legit business my biggest expense was my time um so it took me a lot of time to you know do the research on how to start a medical billing business it took me a lot of time to do the research on how to build my LLC you know properly um it took me a lot of time to research and to build my website myself so it took a lot of time to learn you know the ins and outs of business how to get this started but I was trying to cut costs or to start up with as low cost as I could and that's the solution that I came up with so I started off that way now immediately after I secured my first client I knew that um I was going to have some additional costs associated with that but the initial start up was that like I I went basic like I wanted to do everything myself just so I can go ahead and get my name out there and try to Market and secure my my client and I was pretty successful because I had my first client before I even started my business um I had my first client December of 2022 but my LLC didn't become effective until December January 1 of 2023 so I did not start working for my client until January 1 2023 so that I can you know have that client Incorporated in my business dealings I didn't want to have to go back and try to separate or explain why I was working before my LLC and what money no I didn't want to do that so me and my client agreed that my day one would be January 1st 2023 that's when everything was established um when I received my first payout for my client that's when I went ahead and started my business bank account which was a different expense and got my insurance you know to cover my business and all of that so it and so initially again I started my business with about 150 out of pocket which to me it was not very much like you know you got a job you get paid you can save 25 dollars a paycheck for a little while while you researching all this stuff to get your business up and running if you need to um but yeah like else this is one of the most inexpensive business that I started like my t-shirt business was also kind of inexpensive to start but um this business was kind of inexpensive to start and so I just wanted to offer that to you um because I know some people ask all the time like how much does it cost to start like isn't it expensive how much equipment that you have to buy that you have to buy like software books and for me um this is just how I started again I did have a lot of the stuff that's already needed because I'm already in that profession but um you know it is what it is so if you would like to start your medical billing business um I have a video on here that offers you 11 step process that I took in order to start my medical billing business and so um I suggest that you watch that video next um but um if you have any questions just let me know I would definitely try my best to answer it or get you the right resource that would be able to help you along on your journey and um until next time I see you later I will see you later and wishing you much success on your medical billing business Journey