Medical Billing Service

Startup Costs: $2,000 - $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

The medical billing industry is extremely competitive. However, for the determined entrepreneur there is still a good opportunity to earn $40,000 per year or more operating a home based medical billing service. All medical billing is processed electronically and sent directly to Medicare clearinghouses, so computer equipment will be required as well as medical billing software to operate the service. Additionally, you'll have to familiarize yourself with the diagnostic and procedure coding systems used by doctors and health-care professionals on medical claim forms to indicate the type of service being billed. Currently, medical billing services are charging clients in the range of $2 to $3 per claim processed, and the overall profit potential for the service is good, providing you can process medical claims on a volume basis. There's a steep learning curve for operating a medical billing service and careful planning and research techniques will have to be practiced.

Medical Billing Service Ideas

Site-Sign Installation Service

Help other businesses with advertising opps where they're working.

Locksmith

Help people when they're locked out and need assistance.

Book Indexing Service

Are you a master organizer? Try book indexing.

More from Business Ideas

Thought Leaders

8 Reasons Why We Need Entrepreneurs Now More Than Ever

Entrepreneurship is the driving force behind the global economy's growth. Now more than ever, we need new entrepreneurs to spur innovation.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

Leveling The Playing Field: Aziz Gamil, Co-Founder And CEO, Santra

UAE-based online marketplace Santra is helping home-based businesses and entrepreneurs to thrive in an ever-growing food industry.