Starting a Dental Claims Processing Business
Business Overview:
Starting a dental claims processing business is the perfect opportunity to help dental offices and their patients while working as your own boss from home. If you have experience in claims processing you know that it is the process of facilitating payments from insurance companies to medical offices, in this case, dental offices. Each time a patient has an appointment, paperwork (a claim) has to be filed with their insurance in order for the dental office to be paid. Depending on the size of the dental staff and the volume of patients the dentist sees, this paperwork can put a strain on the office administrative personnel. More and more dental offices are outsourcing this type of work to home-based entrepreneurs. The internet has made businesses like claims processing and medical billing excellent online business ideas for those looking for a great part time business. Since you will receive claims via email, you can work as much or as little as you like as long as you stick to deadlines and maintain high quality of service. If you don’t have any claims processing experience, you can always hire a staff of skilled processors to work for you. They can also work from their homes and you would act as a liaison between your dental office clients and your staff. Although this business idea can be run totally online, you can also market your services to local dentists’ offices. Start with your own dentist and ask who does their claims processing. Explain your business and your rates and ask if you could take a portion of their claims to start. Other than contacting area dental offices by phone and direct mail, place ads on websites aimed at dental professionals such as E-Dental.com and Dental Economics. Whether you choose to operate your dental claims processing business as online only or you have local clients or both, you will find that with quick turnaround times, attention to detail and excellent customer service, you will soon need to hire additional claims processors to help you handle your numerous job requests.
A Day in the Life of a Dental Claims Processing Business Owner:
Your day will begin with a check of any new claims that have come in. You (or your staff) will complete the appropriate forms and send them off to the insurance company. You will then follow up on any previously sent forms to see if the insurance companies need clarification on anything and check to see when the payments will be made to the dental offices. You will spend some time marketing your business either locally or online, or both.
About Your Customers:
Your customers will be dental offices who need assistance with their claims processing.
What You Need to Start:
- Claims processing experience or a staff of skilled processors
- Marketing plan and materials
- Computer with finance software
The Good:
- All dental offices need claims processed and more frequently they are willing to outsource this time consuming task.
- Start-up investment for this business is very low.
- You can charge top dollar for excellent work.
- You can hire processors to work for you if you are not skilled in this area.
- You can operate this business part-time from your home.
The Bad:
- The work can be tedious; you must be extremely detail oriented and have excellent organization skills.
- It can take some time to build up your client base.
Resources:
- American Medical Billing Association
- American Dental Coders Association
- American Dental Association
- Bureau of Labor Statistics on Insurance Claims and Policy Processing Clerks
- Wikipedia on Insurance
About The Author
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