1993
2000
$42,000
Inquire
$60,000
Yes
Start a Professional Medical Billing & Practice Management Consulting Service Now! The Right Opportunity at the Right Time!
It is a fact! The two industries that continue to outperform under the current economic times are IT & Healthcare services. Electronic Medical Billing combines them both! With ClaimTek, the setup fee is low and you'll have a business of your own that allows you to be the boss, set your own hours, set your own schedule, and earn as much as you want and need while keeping overhead costs to a minimum.
Doctors are in desperate need of accurate claims processing to restore their cash flow. What's more, they are willing to pay well for it! In fact, they're happy to pay for it!! As an electronic medical billing professional, you will be in high demand. It doesn't take long for good claims processors to have more business than they can handle through doctor referrals alone.
Let’s explain why medical billing is a booming business, with loads of opportunity and rewards if you work hard and learn the industry. ClaimTek provides you with the vital elements to get started in this business on the right track: Advanced Software, Personal Training, Effective Marketing and Ongoing Support.
Some of the benefits of starting a medical billing business:
Most doctors’ offices cannot keep up with the record-keeping and constant change of regulations and fee schedules. Eventually, many of them decide to outsource their claims to a specialized billing service like yours.
Our system provides full revenue cycle management automation to consistently maximize reimbursements for doctors, taking human error out of the equation. This allows for maximization of reimbursements every time.
If you like to deal with professional clientele like healthcare providers and enjoy solving problems, you can build a rewarding business in medical billing like no other! ClaimTek has the right building-blocks for you like no other company does. The fees to get started are relatively low and your income potential is high. The flexibility and stability that this business can bring to your life are priceless!
Established: 1993
First Unit Franchised: 1993
Franchised Units: 2,000+
Company Owned Units: 1
States Registered In: USA
Cash Investment: $42,000
Total Investment: $45,000 - $60,000
Minimum Net Worth: $0
Franchise Fee: $0 (Not a franchise-we have 2 business licensing programs for $42k and $55k)
Royalty: 0 - Business Opportunity
Ad: 0
Average Number of Employees: 2
Passive Ownership: Semi with employees
Home Based: Yes
B2B: Yes
Master Franchise Opportunities: No territories. Can grow large scale national business.
Veteran Discount: 5% off
Support: 1 or 3 years of unlimited support included with investment on billing, software and marketing with the option to renew.
Training: Personal One-on-one with a mentor. Training is flexible 7 days a week and conducted using latest conference & communication tools including live telephone & online web portal simultaneously. Descriptive training manuals, online video training, audio tutorials, personal one-on-one support and coaching throughout the support period. A tremendous level of marketing support and consultation is provided as well as a significant amount of marketing collateral (i.e. Brochures, Flyers, Website, Presentational material...etc.)
A Typical Day of a ClaimTek Licensee Biller
It begins by gathering the previous day’s claims and preparing to enter or import them into your ClaimTek billing software. First, it is important to verify that the information provided by the doctor’s office is accurate to ensure claims go out clean the first time. An accurate insurance claim is usually paid within 10 to 14 business days but with our systems and support they can get paid in as few as 7 days! Entering claim information correctly ensures quick payments from insurance companies and will enable you to maintain healthy account receivable balances for your client, the doctor.
Now that the new claims are in the billing system, you prepare the new electronic billing file in the database to submit the clearinghouse which will sort and scrub your claims and send them onto the insurance companies. You’re now ready to do some follow up on previous work. You begin by checking for any rejections on previously filed claims. If you find any, then you work to resolve the issues and re-file the claims. You may also want to pull down any electronic remittances so the payments can be posted along with any patient payments that came in. Then review and post the payments, adjustments, and patient portions to the accounts.
Later, you may review everything due for follow-up today. For example, you see you have claims for Blue Cross and Aetna that need attention, and you decide to tackle Blue Cross first. Once you go to their website and log on, you notice that everything was paid except one claim. You will need to file a second level for that claim and resubmit. When you finish, you set a reminder for next week to check on its status. Proper follow-up is crucial for a Medical Biller to ensure that no claim slips through the cracks and causes a financial loss to your doctor client. It also ensures a healthy accounts receivable balance which is important to the financial and business managers making budgeting decisions for the clinic.
Next, you take any charts or billing files that you have pulled during the day. You file them in their proper place and clean up your desk. It is now off to the shredder with your box of any confidential material. In order to maintain a HIPAA compliant workspace you need to shred anything with protected health information on it. All done! You glance at your calendar to see what’s on the agenda for tomorrow.
At some point during they day, you may want to do some marketing or make some PR calls to your clients depending on how established your business is. If you have employees, they can be doing all of the above for you. You simply supervise, do more marketing, build greater relations with your existing clients, take time for yourself, or spend time with family.
At the end of the monthly cycle, you look up reports in your ClaimTek software to see how much you have billed and collected for your clients for the month. You then create invoices to bill your clients for your services. The amount you bill will typically be a percent of the collected amount.
