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The number of billing companies - how many really?
Mason Offline
#1 Posted : Sunday, June 5, 2011 1:38:43 AM(UTC)
Mason


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I'm curious does anybody know how many medical billing companies are currently working in the USA? I've heard about just a few and it would be interesting to know a real number. Comparing to Podiatry Offices it should not be so many. I saw in one source that the number of Podiatry offices in the USA exceeds 25-30 thousands, but I got no official number, at least yet. What really interesting is - not so many companies introduced themselves on the forum so far, just one company. What is that? Nobody knows? Maybe laziness? Or they have so many clients that they don't need new ones? Funny, but it looks like that. Forum Admin, do you have your opinion about that?

Mason
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Blogger on 6/15/2011(UTC)
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hippocratic Offline
#2 Posted : Tuesday, June 14, 2011 4:51:55 PM(UTC)
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It is hard to get an exact number of billing companies because it depends on what you classify as a company. Is the one person shop billing for 2 doctors out of their home but established an LLC going towards the count or the the company that has 4 people (3 of them account managers) and everything outsourced to India (not knocking outsourcing, we don't outsource but some people do and it works for them) as a medical billing company? I started this company billing for 2 physicians out of my condo but I never really considered myself a company until I moved out of the condo and into an office. To answer your question, I found reports of 7000+ companies and I have seen reports of 2000-3000 companies. I guess it comes down to what each person classifies as medical billing company...Either way, there is a new one popping up pretty much every day.
2 users thanked hippocratic for this useful post.
Mason on 6/14/2011(UTC), Blogger on 6/15/2011(UTC)
Mason Offline
#3 Posted : Tuesday, June 14, 2011 6:26:29 PM(UTC)
Mason


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Originally Posted by: hippocratic Go to Quoted Post
I found reports of 7000+ companies and I have seen reports of 2000-3000 companies.


Thank you for the answer. I'm sure you are right, it always depends on the company size and you consider as a company. But even medium, large and huge companies are playing these games with outsourcing. I remember several years ago my friend decided to fix his Dell computer and call support. The English of the person on the phone was incredible. He was not even sure that it was English how bad it was. When he digged deeper he found out that support answers questions sitting actually in India. The professioanl level was incredibly low. This person had a computer with answered questions that he was reading in a jerky way. But it was much cheaper for Dell to keep it this way. After such a good experience my friend never buys Dell computers. The maintenance took over 1.5 months and when he got the box with his computer he realized that it's actually not his computer, but something else, and the sender address was somewhere in Asia.

Originally Posted by: hippocratic Go to Quoted Post
I started this company billing for 2 physicians out of my condo but I never really considered myself a company until I moved out of the condo and into an office.

And how long time did it take from scratch, from your condo to an office? A few years? I'm wondering because I'd like to start a company myself, but I'm just learning now. And I've heard different stories from 2 to 5 years, and even up to 10 years. It's harder to build a solud huge company for sure. There are a number of very good examples given in the book "Built to Last", by Jim Collins and Jerry Porras. If you have your own company you probably read this book, didn't you?

Thanks,
Mason
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Blogger on 6/15/2011(UTC)
hippocratic Offline
#4 Posted : Wednesday, June 15, 2011 3:35:52 PM(UTC)
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I left the condo after 6 months and moved into an office with a staff of 2 people. A lot of long hours but it has paid off now. We have 2 offices (NJ and CA) and a staff of 12 FT people and still expanding.
2 users thanked hippocratic for this useful post.
Mason on 6/15/2011(UTC), Blogger on 6/15/2011(UTC)
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