Hey trainees, did you know you could set up your
own medical coding business right from the comfort of your own home? Well, if
you never thought of jumping into the entrepreneur bandwagon, think again…coz
the medical information industry offers great scope and big money! But before
getting all too excited about it, you should ask yourself, are you willing to
take your life to the next level, no matter how demanding it may get? If your
answer is yes, then read on…
As an entrepreneur, you need to be independent
and stay calm in stressful situations. If you have the right temperament to be
a businessman, we’ll tell you how to set up your own coding business at home.
Step
#1: Get Trained and Certified
Most of you may already be in step 1. Before
setting up your business, finish you coding training and get certified by the American
Academy of Professional Coders or the American Health Information Management
Association. Most importantly, become an expert in HIPAA. Being a certified
professionalwill make it easier to score clients.
Step
#2: Get Experienced
Once you are trained and certified, you
shouldn’t start a business right away. To know the subtle nuances of the
medical coding profession and business, it’s best to work as a professional
medical coder in any company of your choice. The experience will not only help
you bring clients for your business but will also help you meet valuable
contacts who could help with your business. This is a very important step if
you are looking to make a great at-home business. Work hard and impress your
bosses and co-workers. Attend meetings and conferences on medical
coding and increase your network of contacts. You can also leave comments and
tips on coding forums on the internet by offering advice to other coders. Don’t
forget to mention your name to increase your web presence. You can also add
your website address when you set up your own website later on.
Step #3: Map Your Business Plan
Now comes the critical stage: making a business
plan. Before you setup your business, you need to be clear as to what amount of
finance would be required to start-up and what marketing tools you will use.
There are numerous valuable resources online on writing a business plan. Pick one
and get started.
Step #4: Decide Business Type and Register
Once you have the business plan ready, decide
which business entity you wish to have. There are different types of business
entities that apply to your business – sole proprietorship, LLC, partnership,
corporation, etc. Read online resources to gain more clarity on these. You can
then register your company at http://www.mca.gov.in/MCA21/RegisterNewComp.html.
If you find this too confusing, consult a lawyer or a corporate consulting
firm.
Step
#5: Set up YOUR Office!
Make space in your home to set up your office.
Get the necessary infrastructure and furniture, such as desk, chair (very
comfortable one!), computer and internet access. Don’t forget coding manuals!
You will also need medical coding software that you are most comfortable with.
Also, set up your website to market your business, skills and expertise. There
are many low cost options that help you get a domain and easy tools that help
you create or design a website. Alternatively, you could ask a web developer to
set it up for you.
Step #6: Start Marketing
Lastly, once you have set up
everything, you will have to start marketing your business. Use your contacts
and network to let them know about your business, get a brochure designed to
send to medical coding companies, hospitals, doctors, clinics, etc. Place
follow-up calls to ask if they wish to take your services. Also look online for
companies that are looking for work-from-home medical coders.
Now that you have clients,
your business is good to go! All the best!
Photo Credits:
Image courtesy of phaendinat
FreeDigitalPhotos.net
David Castillo
Dominici.
adamr.
stockimages.