Why People Fail in Medical Billing – Patrick’s Video Blog

Hello. I’m Patrick Phillips, founder and CEO of American Business Systems. I’m often asked why people fail trying to start their own medical billing business. It’s really quite simple. People go out on the internet and they find a book or a course or some kind of video on medical billing and coding, and after reading or going through the course, they learn all sorts of things about insurance companies and Medicare and medical billing forms of all kinds, all the various software programs and processes for filing insurance claims. Then they never figure out how to sign up a doctor to do their billing. Then they wonder why people fail. Sometimes people think they need to know all about medical coding because they heard or know that insurance claims are based on diagnostic and procedure codes that have been assigned by the World Health Organization or the American Medical Association. They think that they need to know all about all of those codes in order to file insurance claims for doctors. There are thousands of those codes out there, by the way. So they get bogged down with all these technical details that have nothing to do with whether or not they’re going to be able to be successful and profitable working in this field and owning their own business.

Let’s face it, you can know everything there is to know about all those codes, forms, processes, and software programs, but if you don’t ever get a client, then you’re not in business, right? And you’re not going to be successful. So the point is, this is exactly why people fail in medical billing. They never learn the secrets of getting clients. They never figure out how to get passed the office administrator and present their case to the doctor.

The doctor is the only person in the medical practice that will make the final decision as to whether they want to outsource their billing to you, right? So how do you that? How you do make the case that it’s going to save the doctor a ton of money by not getting bogged down in doing his or her own medical billing, with their own staff and their own software. How do you show them in black and white what it’s really going to cost them to keep their billing in-house, versus turning over this vital part of their business to someone who has been trained to do this efficiently, and collect every penny that’s due to them? How do you do this without help from someone who’s done it and taught hundreds of other people how to do it? Think about it.

If just anyone could figure out how to do this business, wouldn’t their be people starting their own medical billing business all over the country? Wouldn’t the competition be overwhelming out there? Well the fact is, for every ten people that start up their own business, nine of them will fail. I’m talking about those people who think that just because they’re smart and they can learn about all the technical details of a business, that they know how to build a profitable business, and that they know how to get clients on a regular basis. This is the hardest part of any business. To be honest with you, it’s the hardest part of this business, as well. So what do you do to up your odds, to make sure that you aren’t in the 90% failure category?

Well first off, you find out if who you are talking to has actually done the business that they’re telling you that they can teach you how to do. In this case, have they actually done medical billing? Are they still doing medical billing for doctors today? Have they built a successful medical billing company and have they’ve shown others how to duplicate their success? Can you talk to people who have gone through their training and actually signed up doctors and are now doing billing for those doctors? Are those people making a good, full-time executive, upper-class income? If so, then you can change the odds tremendously that you, too, can be successful in that business.

So why do people fail, not just in this business, but any other business? Well they either think that they know it all and they can do it without help and just strike out on their own, or they can’t follow proven success guidelines. They try to reinvent the wheel, so to speak. They think they know more about marketing and getting clients than their mentors. Then they go out and fall on their face.

Let me sum up by saying this, if you want someone to guarantee that you’ll be successful, whether you follow their instructions or not, good luck. I don’t know of any company that can guarantee that you won’t fail. You should not invest in that business or that company, if that’s the case. But if you can find a company that has taught other to be successful in that business, and if you can find out all you can about their business model, talk to some of their successful graduates, and learn all their proprietary secrets of marketing, and still get all your money back after all that, well, I’d say you would be a fool not to go with them.

Ask your ABS rep about our 100% money back guarantee. You’ll see why we say that ABS is the fastest way to get started in your own medical billing business, guaranteed.

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