With the advent of the internet the number of home based businesses is growing at an exponential rate and one area which is definitely not an exception is medical billing from home. In fact, providing medical billing services from the home is rapidly becoming the norm, as many medical practitioners, medical facilities, and clinics, as well as medical billers are seeing tremendous benefits.
From the perspective of the biller, conducting medical billing from home provides the ability to break from the 9 – 5 routine, the flexibility to balance personal and business life, eliminates the daily commute, and has definite cost savings. However, growing and expanding a home based business, requires ongoing marketing activity to keep a constant flow of new clientele.
It is a fact that medical billers will often lose clients through attrition and a lack of a solid marketing plan. Without a prospective customer funnel, the business will see peaks and valleys which in turn cause undue stress. It is extremely important to allocate a portion of time and money to the marketing function when developing the initial business plan for the medical billing from home business venture. Unfortunately it is an aspect which is often overlooked and is the primary reason for business failure.
You do not have to be a marketing genius or even spend a whole lot of money for that matter, however, you will need to follow a few simple ideas which can be implemented from the beginning.
Develop A Corporate Image
Professionals like to deal with successful businesses, and it is your job as a business owner to create the impression of success. Start by coming up with a catchy yet professional name as well as a logo and short slogan which ties into the service you provide. Spend a few extra dollars on professional looking business cards, as well as matching letterhead and envelopes. Many small print shops will provide an inexpensive packaged price, and print enough to last a longtime.
Set Up A Corporate Website
I have heard it stated that a business without a website is not in business. That being said, a website is an absolute must, and in this day and age, a small professional looking website can be created very inexpensively and quickly.
Continually Ask For Referrals
The most effective way on generating new leads and new customers, is by referral from a satisfied client. Very few people enjoy making cold calls and the referral is a way to turn a pure unsolicited cold call into a warm call. Asking for referrals is an art and timing is critical. The most appropriate time to ask for a referral is immediately after you have receive a thank you or some sort of praise. Make this a habit and use a very discreet statement such as “I appreciate your comments and am glad you are pleased with my work. Is there anyone you might know in the medical field that I might be able to help?” Simple as that!
It is common when providing medical billing services from your home, to fall into the trap of hiding behind the computer and isolating. Keep your eyes open for anything medical related happening in your area and get involved. It may be a presentation by a well known doctor, a luncheon, trade show, or even a job fair hosted by a hospital. Attend all of these events with business cards in hand. You never know where a potential client may appear.
These are a few simple suggestions which, if implemented will assist in growing your business. Medical billing from home requires a much different skill set than providing medical billing services within an office setting. Not only does it require the skills to perform the work, it also requires the skills to run a business. Naturally, as the business expands and becomes more profitable, you can allocate more money to marketing and business building efforts.
Operating a medical billing from home based business can be challenging, exciting, and extremely rewarding. The business does simply grow and prosper without dedicating time, effort, and planning. For more information on the medical billing, medical coding, and medical transcription industry as a whole, click here where you will find an abundance of quality information and useful resources.