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So I left a mid-size firm and went solo two years ago. In no particular order, here are some things to consider (I'm assuming you are going solo or forming a small firm, but most of these would apply regardless):1. Your overhead: I can't stress this enough. Keep your overhead low. You are going to experience wild swings in revenue and you will be happy that you didn't buy the Heman Miller chair during the dry spells.2. Your office: Are your going to try to work out your home, rent space, or do a shared workspace type of thing? This decision may be affected by your practice. If your clients are going to question an attorney who works out of his/her home, you probably need to rent some space. Personally, I can't work at home as I don't have a good space to do it and have 3 kids. Also, we have a dog that barks at anything walking by. Do you want your clients to hear that? I decided that it was important to be out in the legal community and ended up renting space in a building full of lawyers. Despite somewhat higher expenses, this has paid off in collaboration and referrals.3. Technology: What do you need? This may be driven #2. For instance, my rent includes a postage meter, access to an office copier and printer, and internet access so I did not need to buy those. As an aside, I chose a Mac for a computer and this has caused me some issues that I had to work around. For example, I do hourly work and it took me some time to find reasonably priced billing software that did what I needed. You need to get a web site up and running too.4. Staff: Do you need them and how many? Be aware there a contract paralegals that work as independent contractors on an as needed basis. You get some support, but when you don't need them, you aren't paying them. If you have staff, you need a payroll service.5. Phones: I needed a system that I could access from anywhere. I went with Ringcentral and have been pretty happy with it.6. Clients: Make sure you know the ethical rules regarding notifying your existing clients of your new gig. In my state, there is a pretty specific procedure for this.7. Professional liability insurance: How much do you need? Shop around, prices can vary substantially.8. Business cards/letterhead/office supplies: You need a supplier.9. Announcements: How are you going to announce the opening of your office?This is starting to get a bit long andI'm sure there are other things I haven't mentioned. I'd be happy to discuss it further with you to answer questions or share my experience if you want to message me. Good luck!

There are many US medical billing businesses in India in the form of BPOs. This will come under export of services. There is no need to apply for IEC code in case of export of services unless it is under the listed category.Health care billing differs from the billing process in most other businesses in two important ways. First, most bills for treatment are submitted to insurance companies rather than directly to patients, or customers. Second, when medical bills are submitted to insurers for payment, they require highly specialized descriptions and codes. If the code doesn’t match a description exactly, the payment will be denied. And because some procedures may have similar names, the billing executive must have an understanding of anatomy, physiology, and pharmacology as well as other medical and insurance terms.It’s important that the executives have or are provided training in the three primary coding manuals:· CPT: Current Procedural Terminology, which is set by the American Medical Association· HCPCS: Healthcare Common Procedure Coding System· ICD-10-CM: International Statistical Classification of Diseases and Related Health Problems, which is maintained by the World Health Organization.First stepBefore you start soliciting clients and ordering business cards, software, and office equipment, you should set up your business. This will enable you to more easily make decisions like choosing a name and track profits and losses. It can also save you time and money down the road when it comes time to file tax returns.Setting Up ShopFor many people, the primary attraction of starting a medical billing service business is the ability to operate from the comfort of your own home. This is because prospective clients will seldom, if ever, need to visit your workplace.Equipment CostsA significant advantage of a home-based business like a medical billing service is the relatively low cost of getting started. Typically you will need a new computer and quality printer (preferably laser). You will need a fax machine or fax software, along with a land line connected to your computer, and an answering machine or voicemail. Stationary such as business cards and letterhead don’t have to be fancy or expensive, just professional looking.Software CostsThe most expensive item you will need in order to get started is your billing software. There are lots of choices, and they range in price from a few hundred dollars to $10,000 or more.The cost depends not only on the bells and whistles, but on the capabilities of the software package. Billing software functionality ranges from minimalist to complete business suites that include marketing and lead generation assistance.Clearing house CostsNo matter which software you choose, you won’t be able to directly submit claims to insurance companies, Medicare, or Medicaid. You will need to pass your claims through a third-party medical billing clearinghouse. Like software, the cost of a clearinghouse membership can vary from less than $100 to several hundred dollars, and may involve additional fees for each doctor or account you add.Finding ClientsThe hardest part of any new business is building a customer base, and a medical billing service is no exception. The universe of potential clients for your new business is very diverse and includes all healthcare providers — from hospitals and clinics to podiatrists and dentists and every specialty in between.Other potential customers include pharmacies, ambulance and medical transport companies (both for non-profit and for-profit), medical equipment providers, home health practitioners, nursing homes, and assisted living facilities. In fact, anyone that provides a product or service that is eligible for payment by private or government health insurance is a prospect.Marketing a medical billing service to doctors, dentists, and hospitals can be a little trickier than other types of businesses, because these health care professionals are less likely to wade through marketing material such as letters and brochures that arrive in the mail than others. They are also going to be nearly impossible to reach by phone. That leaves in-person visits to drop off marketing materials and establish a relationship with an office manager.Think About a SpecialtySpecializing in one or two types of health care providers — such as cardiologists, psychiatrists, nursing and assisted-living facilities, and labs — is a great way to hone your skills by becoming knowledgeable about the specific terms and requirements of those specialties.This is important because a big part of marketing yourself to prospective customers is being able to speak their language and having a deep understanding of their particular needs.Business for SaleBuying an existing medical billing business is an alternative to starting from scratch. Businesses are sold all the time, both directly from seller to buyer and through business brokers, but this route requires that you do your homework before you sign an agreement and write a check. Among the questions you should ask as part of your due diligence are:· How many clients do you have?· How long have you had them?· Are they under contract?· What are the prices they pay?Pricing and IncomeThere are three ways that medical billing services charge clients: per-claim, hourly, and percentage of claims paid. The prices for each of the billing methods vary from specialty to specialty and region to region. The best way to determine what the going rates are in your area and the specialties you will be pursuing is to ask. Polite inquiries made of potential clients and even competitors will help you gauge how much you should charge.· Per-claim billing: This billing method uses a fixed amount for each claim submitted regardless of whether it is paid or not. In the event a claim is denied due to faulty information provided by the client, you will be able to charge a new fee for resubmissions.· Hourly: Hourly billing may be the best choice if you are performing complimentary services in addition to billing such as practice management. According to the Bureau of Labor Statistics, the average hourly wage for medical billing clerks is about $16.50 per hour. Of course there are regional differences and this rate is for an employee — providers can expect to pay more to an independent contractor.· Percentage of collections: This method is the most popular of the three since it incentivizes the billing specialist to get the maximum reimbursement.The remaining costs would include cost of work space, employee hiring and training costs, maintenance costs, etc. that are common for all businesses.

Hii Sagar ,Starting a paper recycling business involves you having a good knowledge of where to collect the waste paper, technical and mechanical know-how on how to operate the machines used for the process and where to sell your finished goods. Now how do you go about starting this business? I suggest you keep reading.Starting a Paper Recycling Business – Sample Business Plan Template1. Conduct analysis.Market research is the first and most important task you need to accomplish for you to know if your idea is feasible. Before even considering the option of setting up a paper recycling plant, you need to ask yourself these questions:How will my business benefit my clients?Who and how many potential customers are there for me?What is unique about my business that would motivate buyers to patronize me?You have to know if the companies in your location are willing to buy the products from you. Recycled paper can be used to make newspapers, paper money, egg cartons, masking tapes, cartons, tissue paper and paper grocery bags.Most companies pride themselves in the use of recycled paper. You can check online and find out the companies in your location that manufacture all these products and approach the manager to ask if you can supply paper to them.2. The financial implications.Starting a paper recycling business is not as expensive as you think it might be. Majority of businesses start with what they have at hand and grow gradually and steadily. The amount you would spend depends on how large your operation would be.Equipment Needed to Run a Paper Recycling BusinessTo start a paper recycling company, you will need a Pulper. A Pulper is the machine used to mush old paper through the use of water and chemicals and turn it into new paper through a process of pulping, screening, cleaning, deinking and bleaching. Information for purchasing these machines can be gotten at your local environmental /waste management office.On the other hand, you can just collect the waste paper, sort them out yourself and go drop them off at the nearest paper recycling plant and pick them up to sell to manufacturers. For this to happen, you must have discussed the terms of business with the owner of the recycling plant. This procedure is suggested as a good business move for people who are just starting up in the business.Below are a summary of start-up costs you should expect:Land and buildingsEquipmentMaterials and suppliesMarketing and advertisingOperational costs and expensesPersonal living expenses and cash reserve.3. Write a business plan.You should have a business plan, it is very important. It helps to organize the framework of your business. A business plan will help you identify the risk, threats and rewards you will encounter in the business. Also, it will aid you in the process of raising funds for your recycling plant.4. Do a Product AnalysisNot all papers are recyclable. And being able to differentiate the kinds of paper would add to your productivity.Recyclable PaperWith office paper-letterhead, business forms, offset paper, scratch paper, copy-paper, colored paper, photo copies, adding machine tape, index cards, computer printout paper, standard business cards, brochures, newsletters, magazines (glossy magazines are not acceptable),books with stapled/sewed binding, envelopes and folders.Non-Recyclable PaperAdhesive removable notes, carbon paper, envelopes with plastic windows, blueprint paper, cellophane, film, spiral binders, glossy magazines, books using glue for binding, wax paper, paper cups, paper plates, napkins, tissue, paper towels and stamps.5. Licensing Your BusinessBefore you start operation, you must register your business with the required authority in the area you want to operate your business. You will also need a sales permit and tax clearance permits, along with relevant permissions from the relevant environmental agencies.6. Marketing and AdvertisingFor your business to survive, grow and get a constant inflow of cash, you must be aware of what is happening in your industry as well as what your competitors are up to. Which associations do you need to join and how can you take advantage of these resources?To be successful in the recycling business, you must have a thorough understanding of the market for recyclable materials in order to adjust rapidly to changes in market conditions. Talk to people already in the business. They will have up-to-date, practical information and suggestions. Talk with people you already know and also check in with your community recycling centre. They would have contacts for you to follow up on.7. What Kind of Program Would You Run?How do you want to collect the paper to be recycled? Would you have the manpower to go house to house, and to business establishments to collect waste paper? Or, would you gain permission to organize drop-off points where people can drop their paper waste for you to pick-up?Where to Get Recyclable Materials?The source of paper recyclable materials can vary. You may decide to target your services to the general public, the commercial sector or other sources.In addition, recreational areas, such as city parks or sports events, may also be a good source for getting waste paper. You can discover other sources of recyclable materials by identifying the consumers of your targeted recyclable materials and contacting them to discuss collection.In conclusion, it is advisable that you summarize your business plan, and start with what you have. The paper recycling business is a profitable business in this age of being Green. The future of your business depends on your entrepreneurial skills, your competence and lots of hard work.If any query, please comment or inbox.Sandeep Chatterjee