My Medical Billing Business Journey - 1493 Words

My medical billing business journey has definitely been full of incredible highs and a few lows. It s a journey filled with bumps, detours, and unexpected curves. In business ownership, it is essential to have a support group or mentor to support and let you know that all these bumps you hit are actually incredibly useful lessons in your entrepreneurial journey. You will learn from those lessons, and make necessary changes. Surprisingly, business owners wear these mistakes as badges of honor. Trust me, some mistakes I could have gone without and cringe when I think about it, but would I be here today if I had not done it the same way? I honestly don’t think so. Here are 10 things I wish I knew before starting my businesses: 1. Business†¦show more content†¦If you are thinking huh? This quote made me stop and think, you do always need to improve your services, focus on your customers, and realize you can really make a difference in someone else’s life. When I started my billing company, I knew that I could streamline the billing process for physicians, increase their revenue, and give them time to focus on patients. Don t lose sight of the mission of your company, this can easily happen when the cash flow starts coming in. 3. Manage Your Cash Flow Yes, cash flow will enable your business to run. When times are good, it’s easy to think that the money will keep coming in. Years ago, I decided business was good and I’ll redo my kitchen. What a beautiful kitchen it was. Two months later, my biggest account got sold to a big corporation with an in-house biller. My nest egg was gone. Boy, did I learn a newbie lesson. Managing the money coming in, the expenses, and keeping a cushion are essential. Make a budget and stick to it. 4. Consider Keeping Your Day Job Until You Are Financially Able To Make It In the beginning, the business can be stressful and not having enough money to survive? Well, you can’t be successful if you are filled with stress and worry all the time. There isn t a one-size-fits-all approach, but you should consider doing something like keeping your current job for as long as you can. This gives you time to build an emergency fund, conduct market research, and start gaining someShow MoreRelatedMedical Billing1352 Words   |  6 PagesRunning Head: MEDICAL BILLING AND CODING Medical Billing and Coding as a Career Abstract: Since I became a mother, I have always wanted a job that would allow me to work at home. I have an associate in accounting and tried doing bookkeeping from home but that did not really work out. I did some research and found that being an insurance medical biller and coder is one of the best jobs to have for working at home. 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