Medical Claims Processing

ELECTRONIC CLAIMS PROCESSING "One of the Hottest Businesses of the 90's"

This too, is a legitimate business and one worth exploring but I have an idea that will get you started for next to nothing, an idea that can be applied to many opportunities.

HOW IT WORKS...

When you go to the doctor or dentist and use your insurance, there are forms to fill out, if they want to get paid. There are now two ways to handle these forms. The slow way and the fast way. The slow way is to have someone in the office fill out and mail in the paper work. The fast way, you in this scenario, is to do it by computer. The clients get paid much faster doing it electronically and that is a big selling point. You get $1-$3 per claim and the average client could have 50-100 claims per day. It can add up to a lot of money.

The main problem with this business is the amount of money it takes to get started. It can be from $5-10,000 for the computer programs and education.

My mother retired from nursing management recently and I looked around for something for her to occupy her time. She knows lots of doctors and would have an edge in signing up clients for this business. I knew I'd never get her to go for that kind of money so I got creative. Figuring that there were a lot of people out there that tried this for awhile and dropped it, I went searching.

I looked in the yellow pages under "Billing Services". I called all the numbers that looked to be smaller operations. If they answered in the name of the company, I knew they were probably still in business and excused the intrusion and hung up. If the number was disconnected I made note of the address and used a Phone CD to get a new phone number for that address if available. When I reached someone and determined they were not in business any more, I explained I might be interested in running their medical billing business for a split of the profits.

Keep in mind that these people have spent thousands of dollars in time and money for something that is sitting in the bottom of their closet doing nothing. I am presenting them an opportunity to recoup and maybe make a profit on that investment. I got at least three people to agree to the arrangement I described. Unfortunately mom wasn't too keen on the idea so I dropped it.

The point is, you can do the same thing with almost any business. If you can't find them in the yellow pages, advertise: "I will run that small business you have sitting in the bottom of your closet for a split of the profits" You'll get some calls with an ad like this!