What are the financial risks for starting a medical insurance claim company? Is it a good idea?

Question

Will doctors be interested to pay my company to process their insurance companiy bills, so they will get paid more quickly?

Answer 1

Are you an expert in medical claims processing?

You understand the process? Have the programs to do this? Know someone you can hire that has this knowledge? You want to make collection calls? You want to negotiate with insurance companies? You are extremely detail oriented, keep extremely accurate records, and can find those records in a moments notice?

Yes, Doctors use that type of service, and are happy to pay a percentage of the billings for that kind of service.

If you're in the USA, you'll have to abide by all the HIPAA Regulations.

I have a client who has over 50 employees, that is in this business, and is very successful. But he is extremely knowledgeable, he has key employees who understand all the ins and outs of the insurance claims processes, he has invested heavily in technology through the years.

It can be a great business, but you need to have the ability to really take this over completely for the Doctor's. You will be their EXPERT.