:: Frequently Asked Questions

 

Why is Medical Billing so popular?
The answer is simple! More and more physicians are switching over to electronic claims submission. In some areas, it is mandatory. Physicians are realizing that it is more cost effective for them to outsource their billing than to hire in-house personnel to perform the tasks of medical billing. In addition, more and more physicians are graduating from medical school with no training in medical billing.

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I have never owned a business before. What are my chances for success?
That depends on you. I strongly believe in the MDP theory - motivation, determination, and persistence. Your chances for success are as good as your belief in yourself and your business. A very strong, solid medical billing foundation is highly recommended, which can be acquired through proper medical billing training at The Academy of Medical Billing. If you think of medical billing as a service, you will realize that you will be providing a service that benefits a provider. The success of medical billing is dependent upon the quality of the medical billing service you provide.

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What do I have to do to be successful?
You need a solid foundation in medical billing. Your medical billing foundation can be acquired when you attend The Academy of Medical Billing. You will be directly dealing with a health care provider performing his medical billing in the comfort of your home or office and you must enjoy working in a professional environment.

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I'm not a computer whiz!
You don't need to be a computer whiz; however it helps if you have some computer background. At The Academy of Medical Billing we train you, hands-on, in an easy to understand comprehensive format. We are confident that you will be able to master the basic computer functions that will enable you to operate a successful medial billing company.

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What does electronic filing do?
Electronic filing of medical insurance claims allows you to use a modem and the Internet to file directly with the insurance company or clearninghouse. This means that the claims you submit are received the moment you send them. Insurance companies process electronic claims before they process paper claims. The turn around time for an electronic claim is 10-14 days Vs. 28 days for paper.

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How do I earn money?
Opportunity for profit in medical billing is extremely broad-based. As a medical billing center you can offer varied services to a provider such as: electronic medical billing claims processing, patient billing, and custom practice reports.

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How will I know the most effective way to get clients?
Although we can not guarantee you providers to bill for, we will give you extensive marketing strategies and the medical billing training that has made many people successful. We can also put you in touch with a marketing company that specializes in obtaining providers who are in need of a medical billing company and wish to outsource.

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Why would a physician want to use a medical billing center?
Billing centers in the past were rare and physicians had no choice but to hire and supervise staff to perform the tedious task of medical billing. More and more physicians today are beginning to realize the benefits of having the work done by an outside service. A few of those benefits are: freeing themselves from the worry of staff turnover and unreliable staff, not having to supervise medical billing claims submission, medical billing software and hardware support, quicker payments,and cost savings.

Let's look at a physician who is processing claims worth $150,000 a month. The provider is filing those medical billing claims manually on paper. That same provider will wait approximately 60 days from the time they first saw the patient to the time they receive payment for that medical claim. Had they used a medical billing center to file those same claims they would receive payment on those medical billing claims within 14-21 days, thus saving 40 days waiting for their money. And possibly they can gain interest on their own money rather than the insurance company earning interest on the provider's money.

Let's look at the process of medical billing. Medical billing begins in the provider's office when the provider sees the patient. Some form of documentation is then filled out, manually listing the type of office visit and the reason the patient was seen in the provider's office. That documentation is then given to an office staff for medical billing processing. The office staff employee will fill out a claim form and the claim form is mailed to the insurance company. This could take up to a week; from the time the provider saw the patient to the time the medical billing claim is filled out and mailed. The insurance company receives the claim and it is opened, any documentation is unstapled, sorted and routed to the correct department. Or the insurance company might microfilm the claim, batch the medical billing claims, and key the claim into their system. An insurance examiner will audit the medical billing claim and the claim is either accepted or rejected. If the clam is rejected, the whole paper trail of manually processed medical billing claims is repeated.

However, a Medical Billing Center will directly transmit the medical billing claims from their computer to the computer of an insurance company or clearinghouse. The medical billing claims are either accepted or rejected that very same day or within a 24 hour period of the first submission. That saves a week to ten days compared to paper claims. Insurance companies will process electronic claims before paper claims.

In addition, Medical Billing Centers specialize in medical billing. Their only job is medical billing and not performing the tedious tasks required in a provider's office. The benefits for a provider to use a Medical Billing Center's skill and expertise far outweigh performing the medical billing task in house.

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Can I run a medical billing center and maintain my present job?
You are in control. Many people have started a medical billing company while maintaining their present full-time employment. In our medical billing marketing class we cover effective ways to maintain your present position and still run your home-based medical billing business.

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Is the market saturated?
The market is no more saturated than it is for qualified lawyers and accountants. The medical billing field is still wide open and considered one of the top ten home based businesses in the country. A qualified medical billing company is always in great demand.

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There are many medical billing opportunities available. Why is The Academy of Medical Billing special?
Claudia Yalden author of "Medical Billing The Bottom Line" formed the Academy of Medical Billing in 1995. We are the only medical billing training company in the country with a published book on the market. In addition we are also a medical billing company providing medical billing services to physicians in six states. We understand what it takes to start a medical billing company and the frustrations that can sometimes accompany starting a new business. We were where you are now. The Academy of Medical Billing wants to help you achieve your entrepreneurial goals and dreams the same way we have achieved our dreams.

The Academy of Medical Billing is special because it was one of the country's first medical billing training facilities offering hands-on, individualized, medical billing training. The Academy of Medical Billing feels your training should be focused on learning medical billing and hands-on software training. In addition, our trainees are always welcome to come back for additional training at no further cost once they have gone through the initial program.

The Academy of Medical Billing is your complete online resource for medical billing. If you are looking for a medical billing course, medical billing training, a medical billing class, or medical billing information, contact us at (800) 221-0488

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