Medical Loans

Medical Loans: What To Do When You Need Money For Medical Treatment

Medical treatment is very expensive, but unlike most pricey items, it’s not an optional or luxury purchase for those in need of treatment. Unfortunately, not everyone has health insurance. Even those who do have health insurance may not have sufficient coverage for all of their medical expenses. Many medical facilities have links with financial institutions which offer medical loans. These loans are cash advances made specifically for the purpose of medical intervention only, and are a financing option for people who are not able to pay for medical treatment on their own.

Medical loans are normally unsecured loans that are awarded on the basis of the applicant’s credit record and earning capacity. The advantages of obtaining a medical loan are that you can undergo whatever medical procedure you require at the time when you need it without worrying about paying for the entire procedure at once. Medical loans typically have regular interest rates and so are not difficult to repay. Getting a medical loan is definitely much better than charging the medical bill to your credit card which could result in long term, high interest debt.

Medical loans can be used not only for emergency medical interventions, but also for those that are not covered under health care insurance, such as cosmetic surgery, liposuction, dental cosmetic surgery, detoxification and similar other procedures that you feel are important to you but that your insurance company does not deem as medically necessary.

Where Do You Get Medical Loans?

There are many places to find medical loans. Before taking out a medical loan, you might want to run a search on the Internet to find out about the different sources of medical loans. You might also want to contact medical practices in your area to determine which lenders they recommend to their patients and check out their terms. As with any type of loan, it is a good idea to compare terms and conditions before signing a contract.

You could also get this information from your own doctor’s office as well as from online and from other medical practices. Just make sure that you know the prevailing interest rates before you make a decision. Also be aware that sometimes the financial institutions offer medical practitioners a percentage for every person referred. Therefore, when you take the advice of your doctor’s office without making comparisons, you cannot be sure you are getting the best offer.

Other Loans For Medical Treatment

In case you find that the medical loans are not suitable for you, you could always go for a regular loan. For example, homeowners might find a home equity line of credit or a second mortgage to be better a better option for them. Research carefully before you make your decision, so you can avail of the best possible offer.

Medical Factoring For Small Medical Offices

As commercial lines of credit and business loans get harder and harder to qualify for, many medium and small medical practices and healthcare businesses are turning to medical factoring to help alleviate their slow cash flow.

Although many medical practices can still qualify for a business loan or line of credit, many are finding that traditional banking products don’t always solve their cash flow concerns in the long term. Why? Well, traditional business loans have to be paid within a few years and lines of credit have fixed maximum limits. Basically, neither product is very flexible and both are hard to get, unless you run a medium sized medical practice.

Medical factoring presents an interesting financing alternative. It provides you with financing that is tied to your insurance claims. If you file more claims this month than last month, your financing goes up accordingly. It provides you with predictable cash flow, ensuring that you are able to meet your office expenses. You’ll have predictable money to pay rent, meet payroll and invest in growth.

And, medical factoring is ideal for small medical offices. Although most factoring companies have minimums, many will finance an office that is billing as little as $50,000 (net) per month.

Medical factoring works as follows:

1. You submit your insurance and Medicare/Medicaid claims as usual. You send a copy to the factoring company

2. The factoring company advances you 70% to 85% of your net collectibles (the non advanced part works as a reserve to cover disputes/etc.). You can use the funds as you see fit

3. Once the medical factoring company gets paid, the transaction is settled.

Setting up a factoring account can take a couple of weeks, mostly because the medical factoring company will need to perform their due diligence and audits. However, once the account is set up, the financing is continuous. You can usually get your claims funded within 24 hours of submitting them to the factoring company.

If your small medical practice has slow cash flow but good growth prospects, then factoring may be the tool to help you finance your growth.

Medical Mailing Lists For Medical Products and Services

Humans are vulnerable creatures. Any day, any time, anyone can fall ill if we do not take care of our health properly. Whether it is a minor condition like the common flu, a serious condition like cancer or some other long-term ailment, both the young and old cannot escape from such unfortunate works of nature. It is evident that there is a need for medical products and services to help prevent germs and viruses from attacking one’s body, to reduce the effects of a health problem, or to prevent a health condition from worsening.

Today, technology has enabled us to enjoy better quality products and services like never before. Scientific discoveries have made it possible for us to benefit from cheaper and better medical products. The advancement of nanotechnology and robotics for instance, has produced effective drugs, vaccines and devices, facilitating the treatment of patients in most areas of our health. Cheaper drugs have also made treatment available to the less privileged, allowing more and more people to have access to such goods and services.

Other than consuming medical products and services for the usual purpose, many do turn to them to prevent the occurrence of certain conditions or for cosmetic enhancement. For example, this may take place when an individual wishes to prevent further hair loss. He then has to rely on specific medical equipment to treat that condition, and ensure that its intended effect is achieved by consuming certain medicine. In addition, one may wish to enhance her beauty by taking injections to prevent wrinkles from forming around the eyes. Both examples show that other than treating basic health problems, medical products and services also serve various purposes, which may not be deemed necessary. Thus, there are multiple reasons why one requires access to these medical products and services.

The market available to sell these products and services to is large. For example, hospitals and private practices require the use of them to treat their patients for the above-mentioned reasons. Thus, pharmaceutical companies producing the relevant equipment or medical supplies need to be able to contact them to sell them their products. Conversely, hospitals and private practices rely on these companies to keep on manufacturing these products and equipment. Thus, it is essential that businesses in this industry are able to contact their target prospects and customers effectively.

In order for businesses to gain immediate information on where these hospitals and practices can be found, it is always convenient to have access to medical mailing lists for all types of medical products and services. A medical mailing list would contain complied information of the various contacts of hospitals and private practices, where medical products and services are needed. They will be accurate and up-to-date as companies offering these lists maintain them through continuous research and monitoring. Therefore, businesses that wish to sell their medical products and services to a highly specific prospect group can save time and money by using a good medical mailing list. They will be able to use it to locate relevant groups of companies that are suitable for their marketing campaigns, reaching their customers within a short period of time.

Medical Loans The Answer To Affordable Medical Treatment

What happens when you need medical treatment that is not covered under health insurance? Many times, people do not have adequate medial insurance coverage to take care of medically necessary procedures. Often medical treatment is needed immediately to have any chance of success, so it really isn’t viable to try to save up the money for treatment. When you can’t afford medical treatment that you need, and there isn’t an acceptable alternative treatment, getting a medical loan might be your best option.

There are a number of lenders who are willing to make loans for both medically necessary and elective medical procedures. Medical loans are funds that are advanced to a person for the specific purpose of being used for medical treatment. They are typically unsecured loans that are basted on creditworthiness. The interest rate usually reflects the going rate in the market. Additionally, many medical loans have a built-in grace period, allowing patient recovery time before repayment is required to begin.

Medical loans are often the only hope for getting needed medical treatment for those who either don’t have health insurance or do not have the funds available to pay their deductible. People with chronic illnesses often need medical loans to be able to continue treatment once their coverage is depleted.

Many people seek medical loans for elective medical procedures as well. As a rule, health insurance will not pay for any type of treatment considered to be medically unnecessary. For example, procedures such as liposuction, gastric bypass, dental cosmetic surgery, cosmetic surgery, breast enhancement, breast reduction, and other similar procedures are typically not covered by health insurance.

These types of medical procedures that are in most cases required for mental satisfaction rather than physical well-being. While no doctor would recommend these procedures as a must-have for a healthy life in most cases, most are of the opinion that such procedures can improve the morale of the person to a great extent. Hence, from a psychological point of view, such procedures do improve the quality of life of the patient.

Many special clinics have been set up with the specific purpose of providing elective medical procedures services to people who want or need them. These clinics, knowing full well that such procedures are not likely to be covered by patients’ health insurance, often provide resources for medical loans to their patients. This enables patients to find a way to afford the services they desire without having to research funding options on their own.

Picking Medical Uniforms And Scrubs For Your Medical Staff

The time has come to replenish your stock of medical uniforms and scrubs. When you are in charge of stocking and replenishing that stock within a medical facility, you have a lot of considerations to consider before your purchase, after the purchase, and while the purchase is in use. There are many highly reputable choices for you when you need to purchase medical uniforms and scrubs for your medical facility.

Usually, a good rule of thumb is to have plenty of medical uniforms and scrubs for the staff members. Consider the positions, the appropriate colors and prints, the specific customization needed – if any – and the budget. When you purchase medical uniforms and scrubs for an office setting, you will want to insure you have enough to cover long term staff members as well as the rotating positions that may seem to shift from time to time.

Having what you currently need is great, but are you taking into consideration other people that may join your team?

A large stock of additional sizes may not be necessary if your turn around is small, but the larger your employee turn around, the more options you should have available. Having appropriate sizes is essential. Having a spare set of medical uniforms and scrubs for every size will insure that no one is left out of the loop when it comes time to acquire new working medical apparel.

Do not forget to purchase plus size medical uniforms and scrubs for the plus size staff members as well. With more and more people falling within the plus size category, the necessity for plus size medical apparel is increasing.

Another method of purchasing medical uniforms and scrubs is to purchase what you need when you need it. For instance, if you have what you need when it comes to supplying medical uniforms and scrubs for your staff, then as a new uniform or scrub is needed, then you can have some general, temporary scrubs or uniforms until you can order the real deal.

You can get customization easily using this method, but new staff members are going to stick out in the crowd. This is a great idea if you have a trial period at the workplace, and temporary medical uniforms and scrubs are not too difficult to purchase.

When you purchase uniforms or scrubs for your medical facility, consider purchasing once or twice a year. Replenishing your stock at regular intervals will help you save time and money because you will find making purchases in quantity can and will save you money in either discounts or free shipping or customization.

Yes, you can save time and money while making your medical facility run more smoothly. Purchasing medical uniforms and scrubs is a good idea to aid with conformity and professionalism, and following these minor suggestions means you get the best value for your money. You will have a lot of leeway when it comes to choosing sizes, colors, designs, and fashionable medical uniforms and scrubs for your medical facility.

Accident Injury Claim - Get The Right Solicitor To Succeed

An accident injury can happen almost anywhere: at home, at work, on the road, shopping, during sport activities and so on. Each of these situations may bring many troubles, particularly if the injury is severe enough to affect your personal lifestyle or your ability to work for a longer time. However, with an accident injury claim it helps to compensate losses caused by the accident injury.

It isn't always 100% recoverable such an annual holidays with friends and family. This and many others of the likes are not recoverable. It's something you have to miss.

You can on the other hand retrieve any money paid for medical treatments, journeys in relation to the accident such as visits to physiotherapy or medical center. This is recoverable once your compensation claim is settled.

'No Win No Fee' Revolution

Since 1998, solicitors work on a 'No Win No Fee' scheme, abolishing Legal Aid. It was put in effect due to many people no being able to get legal aid and didn't bother with their compensation. It made it easier and cost-free for the accident victim. Now, if you win your injury claim, you don't pay any fees and you get 100% of your money.

The fees are recovered from the losing party. And if you lose, it still won't cost you anything if you use a quality accident solicitor who would write the costs off.

No Fees Or Costs

Therefore, no payment is required by an accident solicitor until the final verdict is reached. Yet still you don't pay for it. Being able to get a free assessment is another bonus as it allows you know for sure if you definitely have a claim for compensation.

The solicitor should not hassle you to proceed. But they will advise you with the benefits to go ahead with an accident injury claim. If you do contact them, YOU decide if you want to make use of their skills and experience.

Brilliant Personal Injury Solicitor

A quality claim solicitor will go through the stages of proceeding with an injury claim. Being able to predict possible payout figures and also the time it might take. Just by listening to them will you be able to examine their professionalism. They should have your interest at heart and shouldn't be taking your case, just for the money.

Another absolute bonus is taking no deductions from your injury compensation, no loans being set up or any hidden interest - no catches or tricks. This would outline that the service of an injury solicitor is free for real. For you, it means there are no costs and no risk involved.

Business Ethics

As the circumstances of every accident may vary, every accident claim requires an individual approach. A solicitor should take care of every detail of your compensation claim, so you may relax and wait for the results of their work. They should be highly skilled and experienced, as a result of numerous settled cases.

Brilliant compensation solicitors are hard to find these days. But by finding one and not being able to contact them on some occasions does not mean they don't know about you or your case. They will be doing everything in their power to settle your claim.

Also being part of an elite group of solicitors, they will have experience. Experience for converting technical jargon to the simplest format for you to understand. Advice is one powerful quality a solicitor gives you, so listen to them.

The Aftermath

If you had an accident, it leaves painful, traumatic memories and affects your lifestyle in many troublesome ways. Many of these bad experiences cannot be undone, but can be compensated. It's one of the main reasons why you shouldn't wait around with an accident claim in your pocket.

With a personal injury solicitor's help, you can get what you deserve for your suffering and perhaps it may help you to start a new, better chapter in your life.

The Motor Vehicle Accident “Whiplash-Type” Injury -- As Of 2004

The “Bottom Line” regarding “Whiplash Crash Facts” (accumulated during 2004 - - and including all the previous years) are as follows:

THERE ARE EIGHT SERIOUS AND ABSOLUTE FACTS IMPACTING AND REGARDING THAT WHICH IS TODAY IDENTIFIED AS A “WHIPLASH” INJURY. THEY ARE AS FOLLOWS: 1#. The “Threshold” for cervical spine soft tissue injury becomes a reality at 5 MPH.2#. Most injuries occur at speeds below 12 MPH. #3. Crashed cars can often withstand collision speeds of 10 MPH (some even more) without sustaining damage. (THUS: The concept of “No Property Damage - No Cash” has absolutely been invalidated)! #4. A delay in the onset of symptoms has been found to be the “Norm” rather than the “Exception”. #5. Mild traumatic brain injury can be the result of a Whiplash -Type injury. (These symptoms are often referred to as, “Post Concussion Syndrome”). #6. Up to 10% of victims of “Whiplash” become totally disabled ! #7. Of the 31 important whiplash studies since 1956 (19 of them executed since 1990) regarding patients from all vectors of motor vehicle accident collision impacts (be they rear, frontal, or side) it was found that “over 60% of them” needed long-term medical follow-up. #8. In 2003 several million Americans suffered a “Whiplash-Type” injury. This figure flows into the stratosphere each and ever day at an alarming rate of speed!

TIME NEEDED TO RECOVER

Studies have proven that 45% of the victims remained symptomatic at 12 weeks and 25% remained symptomatic at 6 months. The most minor cases needed at least 8 weeks to recover. The time needed to stabilize in the more severe cases took 17 weeks. THUS: The written (and often declared) notion that “Whiplash Injuries Heal In 6 To 8 Weeks” is just not true !

CHILDREN AND THE “WHIPLASH-TYPE” INJURY: Youngsters who have had Whiplash-Type injuries display sleep disturbances and nightmares, difficulties in talking to parents and friends, mood disturbances, poor academic performance and specific fears when it came to impact related play. ANOTHER SERIOUS CONCLUSION: Children who have been involved in motor vehicle accidents are often neglected as having had “Any various types of injury“, when in actuality, they suffer from the same symptoms as adults. As a matter of fact, they’re at a greater risk for damages - - especially when it comes to “WHIPLASH” !

THE FIVE MOST COMMON MYTHS AS APPLIED TO “WHIPLASH”

#1. Low speed impact crashes don’t cause injuries. #2. Injuries heal in 6 to 12 weeks. #3. A patients pre-injury psychological makeup affects recovery.#4. The greater the vehicle damage the greater the occupant injury.#5. An “Accident Re-Constructionist” can predict injury potential. All five of these “Conclusions” have been proved to be totally incorrect !

THREE SOLID “INJURY-CRASH-FACTS” size=2>

#1. Most injuries occur at speeds below 12 MPH.#2. Rear-end impacts of 6 MPH to 12 MPH cause the most injuries. #3. Between 1 and 2 years post-injury, 22% of patient’s conditions have not returned to “Normal”.

NINE ABSOLUTELY CORRECT WHIPLASH “RISK-FACTORS”

#1. DEGENERATIVE DISEASE: Headaches and/or neck injury pain (for whatever reasons) prior to the crash. #2. PRE-EXISTING HEALTH PROBLEMS: These can positively lead to even greater pain. (For example: A solid Arthritis situation will always lead to the severity of the injury and the pain).#3. VEHICLE SIZE: Even if both are about the same size an 8 MPH impact produces two times the force of gravity. If one is greater than the size of another the Gravity-Force becomes monumental! #4. HEADREST POSITION: The injury becomes much worse if it’s too far away. It must be close enough to catch the head in time - - or about 2 inches. (Over 98% of the headrests are more than 2 inches from the head). #5. POSITION OF HEAD AT IMPACT: If not positively straight (it rarely is) all the G Forces are localized to one side of the spine, substantially increasing the severity of injuries. #6. AGE: How old one is plays a crucial role regarding a “Whiplash-Type” of injury. Why? Because as the body becomes older, ligaments become less pliable, muscles are weaker and less flexible plus there’s a decreased range of motion. #7. WOMEN AND CHILDREN: They injure more seriously than men because they have smaller necks. They may also be too close to the steering wheel, airbag and/or are wearing an improper fitting shoulder harness. #8. NON-USE OF: The motor vehicle’s shoulder harness. #9. FAILURE TO WEAR A SEATBELT !

ALWAYS REMEMBER YOUR MEDICAL PAYMENTS COVERAGE

YOU MUST READ AND UNDERSTAND ALL THERE IS TO KNOW ABOUT YOUR MOTOR VEHICLE INSURANCE “MEDICAL PAYMENTS” COVERAGE: This coverage pays all Medical (and often even funeral expenses) for you, your spouse and even relatives living in your home, and/or others who are injured while operating your motor vehicle.

HERE’S A “BIGGIE” THAT MANY PEOPLE ARE NOT AWARE OF: You and your resident family members may also be covered as pedestrians regarding the payment of your medical bills - - should you have been struck and injured by a motor vehicle.

PLUS: WHEN IT COMES TO YOUR MOTOR VEHICLES “MEDICAL PAYMENTS” COVERAGE - - HERE ARE TWO HUGE FACTS YOU MUST INVESTIGATE: #1. You’re usually paid (regardless of who was at fault for the accident) up to the limit of the coverage you’ve selected. #2. The coverage often extends to expenses incurred - - within he first three years of the accident !

Generic Viagra and Men’s Health

Men’s health is the most precious thing in one’s life.

I am talking about a male person’s sexual life. A sound sexual health of a male person makes him all round happy and successful in every sphere of life.

But if this health is jeopardized by Erectile Dysfunction, then the life will be miserable for the male person concerned and the lady partner of him as well.

Of course there is solution. Viagra by Pfizer, introduced some five years back, has made millions of male persons’ sexual health rejuvenated and has given them new life. Actually, Pfizer has revolutionized this segment of the market by their Patented Viagra The market was waiting for long time for an effective solution to male Erectile Dysfunction.

Immediately after introduction in the market, Viagra won the world! This prompted other innovators to jump on the market and medicines such as Levitra, Cialis etc, had come to fight the same sexual problem.

We will concentrate our discussions on Viagra only.

The medical or generic name of patented Viagra is Sildenafil Citrate. This medicine is costly and a sizeable amount will have to be spent for regular use of the drug to fight against Erectile Dysfunction and carry on normal sexual activities.

You must accept that, Pfizer, had to spend millions of Dollars over the research to develop Viagra and US FDA has given them the Patent to market Patented Viagra for a particular period of time in order to make good their expenses. Otherwise no business can be run and there will be a blockage in developing new medicines against innumerous diseases. That is why the medicine is costly.

However, there are manufacturers of medicines who might not have to spend so much money over research and developments of new medicines but they could reproduce the formulation to market cheaper version of the same patented medicine. This type of medicines are generally called generic version of the patented medicine like generic Viagra or generic Cialis etc.

In this way generic Viagra are sold in the market as Sildenafil Citrate or only Sildenafil or so.

The cost of this generic type of medicines is not so much and affordable to common man. So a cheap alternative for regaining Men’s Health is generic Viagra.

The market and the Governments have accepted this and they will definitely thrive.

Some body may point out about the quality and effectiveness of generic Viagra.

In most of the cases it has been proved that, when the medicine is manufactured and tested with the same procedure of the original medicine, there will be no difference between patented and generic Viagra in respect of quality and effectiveness.

Unfortunately I must say that the market may be filled with unscrupulous manufacturers and traders also. I use to get every day at least twenty to thirty mails everyday about the generic Viagra and a number of similar and other generic medicines. I am not sure about the quality and effectiveness of these medicines.

However, if it is from a reputed manufacturer of generic medicine, you can buy generic Viagra, and can use it.

I am sure you will get the same joy of sexual excitement as you can get through patented Viagra. But it may not be costly in respect of your pocket.

Over the counter medicine shops and innumerous web sites generally sale Cheap generic Viagra pills.

Online generic Viagra, selling through Internet shop has now become a flourishing business. If quality is ensured this is the easiest way to get the medicine staying even at home.

This is the business of our present day and for future as well.

Advances in Medical Imaging- Fe8

An extremely important medical imaging development in detecting diseases is magnetic resonance imaging. This is dependent on the injection of contrast material to highlight specific tissue or to differentiate between healthy and diseased tissue. The materials used in this medical imaging procedure tend to have the drawback of being either simply constructed and managed in the body but giving low contrast OR very complex in construction and providing sharper medical imaging contrast but with less stability when injected.

The National Institute of Standards and Technology has been working together with researchers at Florida State University and the University of Colorado at Boulder to create new medical imaging contrast materials that are highly magnetic, highly uniform (and thereby easier to manage) and tiny. This blend of attributes will work together to create a very safe, predictable, extremely effective contract solution that can be used in medical imaging.

Florida State University researcher Naresh Dalal and other researchers have developed a magnetic molecule identified as "Fe8." Fe8 includes every one of the preferred attributes. This single molecule magnet has eight ion bonds, is water-soluble and non-toxic.

Newly published articles describe the molecules test results which show that Fe8 provides good contrast in non-clinical MRI studies dispelling a former confusion regarding the value of Fe8 in medical imaging. The research had conflicting results because the concentration of Fe8 had not been taken into account during testing.

This progress is partly due to improvements in the field of nanotechnology. Nanotechnologists work with elements that are infinitesimally small. The techniques that are available to measure and manipulate these tiny particles of matter will be used to support additional research on Fe8. Researchers are hoping that these newer medical imaging contrast media will be able to be manipulated for even bigger benefit than this original research suggests. For instance, researchers are seeking ways to "turn on" and "turn off" the medical imaging contrast qualities by creating contrast media that binds only to certain other molecules or binds just when subject to certain conditions that can be monitored and managed.

Although this breakthrough in contrast media for medical imaging is enormously promising and may well provide a great leap forward in the quality of magnetic resonance imaging, there's still a great deal of testing and research to be accomplished before Fe8 can be made available for use in human population studies.

Medical Coding as a Home Based Business

If you’re looking to start a service based business from home, are smart, eager to learn and can invest a bit of time in training, a medical coding business may be an option for you. Medical coders work with hospitals, doctor’s offices and more to code documents for insurance filing purposes.

Unlike what “opportunities” you may find listed on the web may tell you, a medical coding business will require you to be trained in medical coding (assuming you plan to do the coding yourself and not hire a staff of employees to code for you while you handle the marketing and obtain clients alone).

Medical coding is a booming field and one that is expected to grow larger over the coming years. The U.S. Department of labor predicts that the medical coding field will be growing much faster than average from now until the year 2014, due in part to the rapid growth of the medical industry as a whole due to medical advancements, longer life spans and more procedures and tests being available to the public.

With the median salary for a medical coder being $25,590 in 2004 (with the top ten percent of medical coding specialists earning $41,760) and the possibilities of working from home, it’s no wonder that many women and men looking to work at home are exploring this career choice. By owning the medical coding business yourself, you can expect to earn higher profits with a successful business then you could as an employee of a medical coding firm or hospital setting.

But keep in mind that growing a medical coding business is not as simple as getting trained and throwing up your shingle. Running a medical coding business will require the same hard work, long hours and investment (both time wise and financial) that any other professional business with clientele will require.

In addition, medical coding is an acquired skill that will require training and certification to have success. Training can be acquired through college programs or specialty programs for medical coding. But, be wary. There are a ton of scam artists out there who would love to convince you that medical coding is an easy job that can gain you work from home just buy buying their equipment package. This simply isn’t true.

Before attempting to wade through all of the available information on medical coding, you may want to check out the Medical Coding Career Guide book ( http://www.medicalcodingcareerguide.com ) which gives an excellent overview on the medical coding field, what the job entails, how to get training, all about certification and standards – as well as information about finding a job from home as a medical coder or starting your own business.

Once you know how to avoid the scams and whether or not you’re interested in pursuing a career in medical coding with gusto, you can take steps to get involved in the various communities and associations involved with medical coding, such as the American Academy of Professional Coders and the AACCA.

Starting a medical coding career isn’t the easiest route, but it can be one of great satisfaction and terrific income opportunities for those who know what is involved in the medical coding career and business management aspects of owning a medical business and choose to go after it with all they have.

Medical Accounts Receivable Funding

From Independent Rural Hospitals to Sprawling Urban Healthcare Networks

During unforeseen financial downturns, or when unanticipated revenue-generating opportunities present themselves, speed and a strong financial relationship is the difference between success and failure. When CMS demands new information technologies, Joint Commission requires urgent equipment replacement, a boiler bursts, or bankruptcy is looming, an immediate "cash" infusion is the only switch that keeps the doors open, the lights on, and growth (or exit) strategies on track. "While lines of credit and bank loans are good sources for financing a medical business, nothing is more expedient than medical accounts receivable [MAR] funding," notes E. Paul Hettich, Chief Financial Officer of BryLin Hospitals in Buffalo, New York. He credits the hospital's survival to this often overlooked financial tool. BryLin, the only private treatment facility in the Buffalo/Niagara region providing inpatient psychiatric services and outpatient substance abuse treatment services, was immersed in debtor-in-possession crisis when Hettich learned of the benefits of MAR Funding when a fellow healthcare provider advised him about this alternative financing solution and introduced him to Sun Capital HealthCare, Inc.

"When things looked the darkest, medical accounts receivable funding became the most effectual financial oxygen for saving and reviving our 55-year old institution," he shared. "Over time, the continued immediate cash infusion turned the tide on our balance sheet and was instrumental in our reorganization efforts. It provided working capital which allowed us to add back staff and management cut in previous downsizings, enabled us to add new services and purchase related equipment that quickly increased physician affiliations and referrals, thus generating new revenue streams."

Hettich reported that what truly made the difference was BryLin's relationship with Sun Capital HealthCare, Inc., a national financial services company that specializes in medical accounts receivable funding solely for the healthcare industry. "Anyone can finance you money, but the relationship we had with direct 24/7 access to Sun's principals, their staff's working knowledge of the healthcare industry, and their unwavering trust in our operation and management was both financially and mentally emancipating during that critical time. By effectively utilizing A/R funding as part of our financial strategy for our medical business, we added new services, restored the confidence of our staff and our suppliers, increased referrals from associated physicians and enhanced our financial leverage with banks and other lending institutions."

"We have returned our business to profitability, recapitalized and reformulated our capital structure and repositioned our organization for growth," added Hettich. "Even as we become more bankable, we will utilize the immediacy and flexibility of MAR funding to invest in opportunities that can increase revenues and proactively address capital equipment needs in a timely manner."

An indispensable tool for financial turnaround and a dependable ally in growth

A key factor in a provider's fiscal downfall, or lack of growth, is the lack of working capital. A solution to prevent this lies in the providers' accounts receivable, an asset often wasting away accumulating dust on the balance sheet. With the specialized MAR funding program of Sun Capital HealthCare, there are no ceiling caps and the transaction is debt-free. Simply put, Sun Capital purchases a provider's accounts receivable and advances it cash within 24 to 48 hours of submission of claims.

"With this tool, companies can take charge to regain or significantly amplify their financial leverage with the immediate infusion of cash," stated Certified Turnaround Professional Thomas M. Vivaldelli, a principal and managing director of Distressed Real Estate Solutions with more than 25 years in turnaround, crisis management, restructuring and renewal of troubled businesses. "By using some of the cash to reduce debt, a company increases its value for a potential sale or strengthens its ability to be bankable with a bigger line of credit and lower interest rates." Vivaldelli added that A/R funding works as an indispensable tool to help turnaround the capital structure of a company in eminent danger, or as a dependable ally for companies poised for great growth.

The challenges for healthcare providers include growing revenues to keep ahead of rising overhead, remaining a leader in the healthcare industry, and delivering projected returns to shareholders or the anticipated revenue levels directed by nonprofit boards of directors. Sun Capital HealthCare's MAR funding program is an effective financial tool in this environment.

Home Based Medical Transcription Business

What Goes Into Starting A Successful Home Based Medical Transcription Business?

This article is "FREE" expert advice about what medical transcription is, what skills a home based medical transcriptionist needs, what the initial investment is to start a home based medical transcription business and what someone should consider when choosing the right medical transcription training course.

What Goes Into Starting A Successful Home Based Medical Transcription Business?

If you don't know that's OK! Most beginners to the home based medical transcription industry don't either but this website will give you an expert overview of the industry. We will also direct you to what is being referred to as "The Bible" of the home based medical transcription business so whatever isn't covered here will be then (in-depth) by a very successful 9 year home based medical transcription veteran. You Won't Go Wrong If You Act Upon What We Share With You!

Who Am I & Why Should You Follow My Advice

That's a fair question and I would be rather shocked if you didn't want to know. Please understand that the following answer to your question is not an attempt to satisfy my own ego but rather to show you that I am not some "QUACK" that just dispenses unfounded theories or hype. My name is Paul Hackett and helping people start their own home based medical billing (MB) & medical transcription (MT) businesses is my passion.

I am the president of a successful home based medical billing and transcription business (Stelo Medical Management, Inc.), a medical consultation business (Stelo Enterprises, Ltd.) and the author of the internets #1 selling home based medical billing business startup guide entitled "Medical Billing Book For Home Based Beginners".

I've been in the home based medical billing & transcription business for 8 years, built all my businesses from scratch, have helped hundreds of medical billing & transcription beginners start their own home based MB & MT businesses. I have earned my trust within both industries by giving out only useful and truthful information about the field. Now that you know who I am and what I represent lets get down to the meat of the issue!

Is Medical Transcription A Legitimate Home Based Business?

Yes, it is and it has been for decades. It is not one of those widely advertised scams that you would see online or in newspapers like the medical billing industry is plagued with. Medical Transcriptionists have three options when deciding how they want to work:

1) Work inside a practice, hospital, etc.- if you take this route then you could make the equivalent of $9-15 per hour depending on your skill, accuracy and geographic location. As with any other job you will be supplied with everything you need (including benefits) by your employer.

2) Work as an independent/self employed medical transcriptionist - This is when you work completely for/by yourself, you take care of your taxes, you sign up and maintain your own client/accounts, you market your services, you provide your own benefits, etc. You'll probably start out at the equivalent of $10-15 per hour (or 6-14c per line) and in time (years) you could be earning the equivalent of $15-$40 per hour depending upon the amount of work, clients and type of equipment that you use. A lot of medical transcriptionist around the nation rather doing business this way (including me) and once you see the pros and cons of the business and speak to a CPA you'll see that this route is rather lucrative and you're the boss. Simply put, you own the company so you do whatever you must to make it a success. Or;

3) Contract with a national company - with this type of medical transcription you are referred to as Statutory Employee. It is the same as the above mentioned position with the exception that the company you contract with usually pays 7.5% of the FICA tax, they might give you certain equipment to do the job their way and they will assign the workload expectation and pay.

What Is Medical Transcription?

Medical transcription is the process whereby one accurately and swiftly transcribes medical records dictated by doctors and others, including history and physical reports, clinic notes, office notes, operative reports, consultation notes, discharge summaries, letters, psychiatric evaluations, laboratory reports, x-ray reports and pathology reports.

It involves receiving dictation by tape, digital system or voice file, the use of ear/head phones, a foot pedal for start-stop control, a variety of word processing programs and sometimes the use of a printer and a modem. Today many home based medical transcriptionists still deliver their completed work back to the office but with technology being what it is now it's just as simple to deliver the work via a modem. If you work of a national company they may require you to use a modem to download and transmit the work.

What Skills Does A Home Based Medical Transcriptionist Need?

Let me put it this way, having a computer at home and knowing how to type fast is not enough to become a successful medical transcriptionist. You MUST:

Take A Really Good Online Medical Transcription Training Course (or attend a good school-college-trade or vocational school),

Have Good Listening Skills,

Great English Grammar Skills,

Excellent Computer Skills,

Superior Research Skills,

Possess High Typing Speeds With Great Accuracy,

Pay Great Attention To Detail,

Have A Great Foundation In Medical Terminology, Anatomy, Physiology, Pharmacology, Laboratory Tests And Values, Medical Equipment and Procedures,

Possess The Ability To Work Alone (Usually you won't have much contact with others),

Possess The Ability To Work Under Pressure And Sometimes Under A Deadline, and

Posses The Ability To Sit In Front Of A Computer For Extended Amounts Of Time.

You will need to invest in several different types of publications such as: an English dictionary, a grammar and style guide, a complete medical dictionary, a drug index, a laboratory and pathology word book, a medical word book by specialty, a surgery word book, a medical abbreviation word book, other specialty word books and a physician directory and other journals.

You will also need to use several different pieces of software such as a medical spellchecker and an abbreviation system such as PRD or Smartype. You will also need to learn all you can about your own computer so you can employ all the ticks and shortcuts within it to greatly enhance your productivity. Remember that you need to always have your hands on the keyboard because the more you type and type accurately is the greater your pay will be.

What's The Initial Investment Needed To Do Medical Transcription?

This varies and it depends on several factors like:

Do you already have a home office or if you're starting from scratch?

Do you have formal medical transcription training or not?

Do you already have most of the books you will need?

Do you have the necessary software programs to do the job professionally?

Do you need to purchase additional software or hardware?

The great thing is that you can buy most of the things you need (used) from places like Ebay and other places that support the home based medical transcription industry. Your four major purchases will be your medical transcription training, transcriber, computer and reference books so your investment will be very minimal compared to doing medical billing from home where the investment can be as much as $6,000 to get the business of the ground.

How Do You Choose The Right Medical Transcription Training Course?

OK, this is the last segment that I'm going to cover but at the conclusion I will tell you exactly where to get the most in-depth, informative and comprehensive medical transcription training for the least amount of money to start your home based business.

When it comes to a medical transcription course or medical transcription correspondence course then you will have a plethora of choices (especially if you search online). So let's start with your choices:

College Courses

Vocational School or Trade School

On The Job Training

Learn On Your Own or

Online Medical Transcription Training Course or Correspondence Courses

Now allow me to say that how one medical transcriptionist got their training might not be right type of training for you because everyone learns differently.

I know people that have learned the trade by doing on-the-job training with the help of other experienced medical transcriptionists but the learning curve was huge because they knew nothing before starting. I also know people that trained themselves (that's bold and I commend them) but even they have told me if they were to do it all over again that they would have learned it through some sort of school or online medical transcription training course (once again the learning curve is a killer). Here's a break down of what a good medical transcription training course should consist of:

Medical Terminology,

Acronyms, eponyms, abbreviations,

Anatomy,

Physiology,

Laboratory tests and values,

Medical procedures and equipment,

Medical Coding as a Home Based Business

If you’re looking to start a service based business from home, are smart, eager to learn and can invest a bit of time in training, a medical coding business may be an option for you. Medical coders work with hospitals, doctor’s offices and more to code documents for insurance filing purposes.

Unlike what “opportunities” you may find listed on the web may tell you, a medical coding business will require you to be trained in medical coding (assuming you plan to do the coding yourself and not hire a staff of employees to code for you while you handle the marketing and obtain clients alone).

Medical coding is a booming field and one that is expected to grow larger over the coming years. The U.S. Department of labor predicts that the medical coding field will be growing much faster than average from now until the year 2014, due in part to the rapid growth of the medical industry as a whole due to medical advancements, longer life spans and more procedures and tests being available to the public.

With the median salary for a medical coder being $25,590 in 2004 (with the top ten percent of medical coding specialists earning $41,760) and the possibilities of working from home, it’s no wonder that many women and men looking to work at home are exploring this career choice. By owning the medical coding business yourself, you can expect to earn higher profits with a successful business then you could as an employee of a medical coding firm or hospital setting.

But keep in mind that growing a medical coding business is not as simple as getting trained and throwing up your shingle. Running a medical coding business will require the same hard work, long hours and investment (both time wise and financial) that any other professional business with clientele will require.

In addition, medical coding is an acquired skill that will require training and certification to have success. Training can be acquired through college programs or specialty programs for medical coding. But, be wary. There are a ton of scam artists out there who would love to convince you that medical coding is an easy job that can gain you work from home just buy buying their equipment package. This simply isn’t true.

Before attempting to wade through all of the available information on medical coding, you may want to check out the Medical Coding Career Guide book ( http://www.medicalcodingcareerguide.com ) which gives an excellent overview on the medical coding field, what the job entails, how to get training, all about certification and standards – as well as information about finding a job from home as a medical coder or starting your own business.

Once you know how to avoid the scams and whether or not you’re interested in pursuing a career in medical coding with gusto, you can take steps to get involved in the various communities and associations involved with medical coding, such as the American Academy of Professional Coders and the AACCA.

Starting a medical coding career isn’t the easiest route, but it can be one of great satisfaction and terrific income opportunities for those who know what is involved in the medical coding career and business management aspects of owning a medical business and choose to go after it with all they have.

Finding the Right Career Fit,

You have the power to choose your future and make it happen. A decision that resonates within you, that connects with the person you believe yourself to be, and that draws on your true talents and deep emotions is much more likely to lead to success than a decision based on external factors or chance. The U.S. Department of Labor’s research suggests that people will have 3 to 8 different careers and up to 25 different jobs in their work lifetime. 75% of the jobs that exist now did not exist 10 years ago.

To make the best career decision, it is important to identify the fields and occupations projected to have the most rapid growth, for example: desktop publishers and database administrators, medical records and health information technicians, special education teachers, library technicians, and registered nurses. Look at the occupations in which women are being offered the most lucrative starting salaries: investment banking, all types of engineering, and network administration. For those without advanced degrees, look to the construction trades and manufacturing, including driving a fork lift—jobs that pay 3 or 4 times more than an entry-level office job. Far from being stuck in a career, most of us make the decision to change jobs over and over during our work life.

To maximize your chances for success, one must identify a well-paying job that matches your skill set in a high-growth industry and with a "women- and family-friendly company” that will appreciate their value to it. Here’s how:

Recognize if you are fitting like a square peg in a round hole, because success begins with finding your true interest and aptitudes.

Don’t give up; value yourself, invest in yourself, and take a chance on yourself. Barbara Corcoran made straight Ds in high school and college and had held 20 jobs by the time she turned 23. She decided to quit her job as a waitress, borrow $1,000 from her boyfriend, and bootstrap a real-estate company in New York City, which is now a $5 billion company.

Look to non-traditional fields such as construction or manufacturing, if your credentials don’t include an advanced degree, and you still hope to make decent wages.Carol Brown chose a non-traditional career climbing telephone poles and rose through the ranks to tech executive, traveling to Latin America to help AT&T set up networks in those countries. She achieved a work-free retirement devoted to the arts.

Consider that about 54% of all working women are employed in low-paying support jobs such as clerical workers, retail salespeople, waitresses, and hairdressers. Starting wages for a child-care worker and a carpentry worker might be $7 - $10 per hour. However, once in an apprenticeship, a carpenter receives $12 - $16 per hour. By the time the apprentice reaches a journey-level position, she could easily be making $35 per hour or more with excellent benefits. Those who move on up to custom work, or those who go into technical computer fields, can pull down hefty executive-level wages.

If an opportunity to get training and move up comes along, jump on it. Sue Swenson started as a competitive swimmer when she was 12 years old, got a bachelor's degree in French from San Diego State, then held a series of low-level office jobs until she took a telecom management course in 1979. Ultimately, she became president of what is now AT&T Wireless, then moved on to become the president and COO of the 10th-largest cellular phone operator in the U.S.
Don’t miss a chance to show off your capabilities. You never know where your next career break will come from. An oriental studies major, Judith Luther-Wilder is co-founder of the Center for Cultural Innovation, a non-profit that provides access to business training, financial resources, group services, and a communications network to diverse artists and creative entrepreneurs throughout the U.S. Luther-Wilder was so impressive speaking as a volunteer on another subject that she was appointed executive director of the $5 million L.A. Festival, a position for which neither her academic training nor prior job history "qualified" her.
To maximize your chances for success, one must identify a well-paying job that matches your skill set in a high-growth industry and with a "women- and family-friendly company” that will appreciate their value to it. Here’s how.

Recognize if you are fitting like a square peg in a round hole, because success begins with finding your true interest and aptitudes.

Don’t give up; value yourself, invest in yourself, and take a chance on yourself. Barbara Corcoran made straight Ds in high school and college and had held 20 jobs by the time she turned 23. She decided to quit her job as a waitress, borrow $1,000 from her boyfriend, and bootstrap a real-estate company in New York City, which is now a $5 billion company.

Look to non-traditional fields such as construction or manufacturing, if your credentials don’t include an advanced degree, and you still hope to make decent wages.Carol Brown chose a non-traditional career climbing telephone poles and rose through the ranks to tech executive, traveling to Latin America to help AT&T set up networks in those countries. She achieved a work-free retirement devoted to the arts.

Consider that about 54% of all working women are employed in low-paying support jobs such as clerical workers, retail salespeople, waitresses, and hairdressers. Starting wages for a child-care worker and a carpentry worker might be $7 - $10 per hour. However, once in an apprenticeship, a carpenter receives $12 - $16 per hour. By the time the apprentice reaches a journey-level position, she could easily be making $35 per hour or more with excellent benefits. Those who move on up to custom work, or those who go into technical computer fields, can pull down hefty executive-level wages.

If an opportunity to get training and move up comes along, jump on it. Sue Swenson started as a competitive swimmer when she was 12 years old, got a bachelor's degree in French from San Diego State, then held a series of low-level office jobs until she took a telecom management course in 1979. Ultimately, she became president of what is now AT&T Wireless, then moved on to become the president and COO of the 10th-largest cellular phone operator in the U.S.

Don’t miss a chance to show off your capabilities. You never know where your next career break will come from. An oriental studies major, Judith Luther-Wilder is co-founder of the Center for Cultural Innovation, a non-profit that provides access to business training, financial resources, group services, and a communications network to diverse artists and creative entrepreneurs throughout the U.S. Luther-Wilder was so impressive speaking as a volunteer on another subject that she was appointed executive director of the $5 million L.A. Festival, a position for which neither her academic training nor prior job history "qualified" her.

Be flexible and open to change: understand that your career can grow and morph. Joan Matalon Stark, president and founder of Matalon Designs, Inc., started her career as a children's-wear designer, a display designer, and an illustrator, then took a position as a shoe designer, where she gained a deep understanding of both the technical and creative aspects of shoe design. Then, armed with both expertise and reputation, she launched Matalon Designs, Inc. to provide product design, marketing, and merchandising services for shoe manufacturers, leather tanneries, materials companies, and jewelry and handbag companies. Matalon now consults with firms like Stride-Rite Shoes, Brown Shoe Company, North American Tanning, Biltrite Corp., and Siap Man-Made of Italy.

Don’t get stuck in a single career; the same skill sets can apply to multiple professions. Val Ackerman started out playing basketball, then got her law degree and joined the NBA commissioner’s office, where she contributed to the launch of the Women’s National Basketball Association (WNBA), of which she is now president.

Look for an ideal workplace where you’ll be appreciated and have the opportunity to thrive. Eileen Fisher, founder and CEO of Eileen Fisher, Inc, with more than $100 million in revenue, has been described as a nurturer and recognized for her employee-friendly workplace. Fisher has a mission to encourage individual growth, collaboration, and social consciousness, as evidenced by her generous benefit package and work environment. Her motto: “We want employees to love this place.”

Don’t cling to an old job when you’ve outgrown it or can move on to a better deal. Listen to Patty DeDominic, founder of PDQ Personnel Services, Inc. (one of the country’s largest privately held staffing and service firms) and a national leader in entrepreneurial and employment issues: "Get the gold watch as part of the signing bonus” because, before long, you will likely be moving on.

Advancements in X-Ray Technology

We have used X-Rays as a medical imaging technique since approximately 1895 when Wilhelm Roentgen concluded that he could make images of body structures like tissues and bones by passing electromagnetic waves through the body. He named the phenomenon X because he did not initially understand the composition of the rays. From that time forward, X-Rays have been the building block upon which medical imaging technology and medical imaging equipment have been created.

Although the X-Ray has long been an essential medical imaging tool, this approach has always had the drawback that the images produced are not exact, which makes it so it requires extremely careful study and interpretation. Scientists have long searched for a way to enhance the quality of radiographic images.

Recent breakthroughs in the growth of laser X-Ray's have led to advancements that have the capability to fully change the quality of radiographic images. The light distributed by a laser would be bright enough to create strong, distinct contrasts on radiographic images. Also, grouping the power of a laser beam with X-Rays can produce better resolution by a factor of around one thousand. Medical imaging at this level of resolution could provide the technology to detect cancers and other abnormalities that cannot now be detected with current X-Ray technology.

Up until the last few years, the power source needed to make the perfect strength laser beam for this invention was so enormous that it was unrealistic to even try. However, researchers at the University of Colorado in Boulder have created a way to generate mighty laser beams from a reasonably sized power source. This makes laser X-Ray technology a practical reality.

The team that is researching this used a laser beam to set forth atoms from argon. Argon is a stable chemical element. The ejection of X-Rays was not strong enough to be of use. The research team then threw the atoms back into the argon, causing a larger, more compatible stream of X-Rays of big enough size to be useful to be emitted. This boomerang method is now being handled to make a regular, very mighty source of X-Rays, grouped with laser beams.

The method isnt prepared to be used in the clinical setting. Further research is necessary to extend the method into the hard X-Ray area of the electromagnetic spectrum. Once that task has been accomplished, the commercial laser X-Ray will come next.

Advances in Medical Imaging

An extremely important medical imaging development in detecting diseases is magnetic resonance imaging. This is dependent on the injection of contrast material to highlight specific tissue or to differentiate between healthy and diseased tissue. The materials used in this medical imaging procedure tend to have the drawback of being either simply constructed and managed in the body but giving low contrast OR very complex in construction and providing sharper medical imaging contrast but with less stability when injected.

The National Institute of Standards and Technology has been working together with researchers at Florida State University and the University of Colorado at Boulder to create new medical imaging contrast materials that are highly magnetic, highly uniform (and thereby easier to manage) and tiny. This blend of attributes will work together to create a very safe, predictable, extremely effective contract solution that can be used in medical imaging.

Florida State University researcher Naresh Dalal and other researchers have developed a magnetic molecule identified as "Fe8." Fe8 includes every one of the preferred attributes. This single molecule magnet has eight ion bonds, is water-soluble and non-toxic.

Newly published articles describe the molecules test results which show that Fe8 provides good contrast in non-clinical MRI studies dispelling a former confusion regarding the value of Fe8 in medical imaging. The research had conflicting results because the concentration of Fe8 had not been taken into account during testing.

This progress is partly due to improvements in the field of nanotechnology. Nanotechnologists work with elements that are infinitesimally small. The techniques that are available to measure and manipulate these tiny particles of matter will be used to support additional research on Fe8. Researchers are hoping that these newer medical imaging contrast media will be able to be manipulated for even bigger benefit than this original research suggests. For instance, researchers are seeking ways to "turn on" and "turn off" the medical imaging contrast qualities by creating contrast media that binds only to certain other molecules or binds just when subject to certain conditions that can be monitored and managed.

Although this breakthrough in contrast media for medical imaging is enormously promising and may well provide a great leap forward in the quality of magnetic resonance imaging, there's still a great deal of testing and research to be accomplished before Fe8 can be made available for use in human population studies.

Starting Your Own Medical Transcription Business

Introduction

According to the predictions of the United States Department of Labor, the MT industry will expand at a greater than average rate through the year 2012. The health care industry will need 158,000 more professionals in this field to keep up with baby boomers that are becoming senior citizens and will require more medical care. In this profession, there is great demand for qualified personnel, and much job security for those who meet the need and produce quality work.
Medical transcription is one of the few legitimate work at home jobs a person can train for. This article will focus on how to start your own Medical Transcription business.

Education

To work professionally in this field, you first must get quality education. The best education for medical transcription is to enroll with a well-known on-line MT school. Many community colleges offer MT training, but since community colleges must meet the needs of the community they do not gear their training toward work at home MTs and they frequently throw in courses like filing, office procedures, etc. This takes away from the time you need to practice transcribing. Additionally, the best dictation tapes for training are the SUM CDs, and the community colleges cannot afford for every student to have a full set of these CDs, so students seldom get a chance in just one semester to transcribe all of the necessary reports that will assist one in becoming a qualified MT.

Getting Started

One you are adequately trained as an MT, you will probably wish to work for a national MT service where your work will pass through an MT editor for a few months. This will give you time to gain confidence, and will assist in ironing out any deficits that you may have in your skill set.

After you are thoroughly trained and confident in your skills, you are probably going to want to cut out the middle man (the national service), and contract with local physicians yourself. There is much money to be paid in launching out in this direction.

You will first need to make sure that you have a good home office set up including a good computer system, quality printer, fax machine, and adequate office space.

You will also need to decide how much you will charge for your services and what services you will offer. Are you willing to find addresses for letters? Are you willing to print the reports? Are you willing to mail letters? It is important not to undercharge for your services as this drives rates down in your area. The idea for a successful business is to charge competitively but to offer a few additional services.

Start up Expenses

Start up expenses vary greatly depending upon how many clients you want initially and if you intend to work from a home office or rent office space. You must figure the expense for an initial mass mailing, advertising expenses, initial office set up, and how you will pay for the dictation equipment, and or digital services. Most small MT businesses could get off the ground with just a few thousand dollars.

Finding the Clients

At this point, you are ready to find some clients. The first step is to take a survey of the physicians in your area. You want to ask the office manager the following questions to determine the need in your specific area:

- Do they have on-site transcription?
- How much experience do they require?
- What type of dictation equipment do they use- tapes or digital?

Then you will want to create an excellent flyer outlining your services, and to do a mass mailing to physicians in your area. Make sure you keep a list of the physicians that you will be mailing to, and then follow up with a telephone call to the office manager.

A list of selling points for going with a service rather than having someone in-house do the transcription is as follows:

- Save office space.
- Save money on benefits packages.
- Have vacation coverage.
- Turn around time is faster because the focus is just on MT and not other office tasks.

Once you get the appointment with the office manager or the physician, you need to sell them on the idea of using you as opposed to handwriting their records, or having someone in-house do the work. The benefits of transcription over handwriting are as follows:

- HIPAA compliance.
- Less mistakes. Explain that if the doctor is brought into court and asked to read what they have written but they cannot decipher their own handwriting, it could pose a legal situation. Additionally, if referring doctors cannot read the faxed record, and mistakes are made, it could pose legal issues.

Also, you should emphasize why the physician should choose you to do his transcription. Some selling points include the following:

- Quality transcription
- Confidentiality of information
- Excellent turn around times (TAT)
- You use state of the art equipment
- You are willing to do STAT reports whenever necessary

Being Organized

Once you have established a few clients and are happily working at home for yourself making good money, you will realize that you need to keep track of income and expenses for tax purposes. There are several ways to do this. One is to rely on an accounting software program like Quick books. You can also hire an accountant who will have you drop off your receipts and bank statements monthly. You can also keep records yourself but this should be done in an organized way. It is suggested that you take a general bookkeeping or accounting course to make sure that you are doing this correctly.

Also, it is never a bad idea to consult briefly with an attorney when doing a new business start up to make sure that you are complying with all local, state, and federal laws. Some people like to set up their business as a corporation, S-Corp, or sole proprietorship; others will do a limited liability corporation. Details about the different ways to set up your business is beyond the scope of this article, but it is suggested that you do research on each way that you can set up your business as each has both its benefits and drawbacks.

Conclusion

It is important to know when you need help. If you wish to grow your business and you continue to solicit for new clients, then you will need to hire people to help you do the work. Most small MT services will hire independent contractors to do this. You will need to do some research on how to keep track of the income you pay each contractor as you will need to prepare 1099 tax statements at the end of each year for each contractor. Additionally, doing some reading on employment law would be a good idea. Many new service owners get into trouble by treating their independent contractor’s like employees. There are specific laws governing the differences between independent contractors and employees.

Along with hiring some help, you will want to protect your business secrets by having each independent contractor sign a confidentiality agreement and possibly a non-compete agreement. It would be wise to have an attorney draw up these two documents for you to make sure they will stand up in a court of law should it be necessary. A non-compete agreement protects the business owner from things like an independent contractor soliciting your clients for a lesser amount. A confidentiality agreement prevents an independent contractor from discussing your trade secrets with others.

All in all starting your own MT service is a lucrative proposition and the outlook through the year 2012 is quite promising. The starts up costs are reasonable and you have the opportunity to grow the business as slowly or as quickly as you desire.

Benefits Of A Medical Transcription Business

You have decided to start a home based business. Now the problem is choosing which business to pursue. Usually, before a person decides to begin their business, a lot of research needs to be done. Your demographic area determines if the product you have to sell will be in demand by the public. Marketing a product that is already saturated in the area in which you live spells disaster for your business in its infancy. This article cuts through all of that research and presents you with a home based business product whose demand will continue to increase over the coming years.

Medical transcription is an at home business that offers tremendous benefits for those who choose to pursue it. One benefit of this business is setting your own hours of operation. The problem with traditional office jobs is that they are not structured to accommodate children’s school schedules, family illnesses, and emergencies. My children go to school late so going to work at an earlier hour means leaving them home to see themselves off to school in the morning. The flexible hours that this home based business provides allows you to tend to family issues as they arise. You don’t have to get permission to leave work because you are the boss!

Another benefit of a home based business like this is the low overhead. “Overhead” refers to the costs involved in operating your business that are subtracted from the bottom line to determine your business profits. Other new businesses that require a building or need to employ workers will have higher operating costs including employer provided health insurance.

At home, the cost to you will be limited to the equipment used to retrieve the dictation, a computer with word processing software (if you don’t already own one), a desk, a chair, and a phone. Most of what you need, you may already have. Also, these things can be written off on your taxes as a business expense, and that includes the square footage of the room that you choose to be your base of operations. Less overhead costs equal more profits for your business.

Medical transcriptionists are employed in hospitals, doctor’s offices, and transcription services. Most companies that hire medical transcriptionists require hospital experience. Length of service differs from company to company. The beauty of this field is that you can work in the hospital setting to gain the necessary experience and grow your business at the same time. Working part-time in a hospital or office will give you a feel for the industry in your particular area. Joining a professional medical transcription organization will help you network among others in the profession to increase your business.

Beginning any new business requires time and hard work. A medical transcription business offers low overhead, flexible work schedules, and a product that will stay in demand as long as there are doctors. These benefits make it appealing to those who are tired of the grind and want a more balanced family life.

Medical Transcription As A Home Business

The medical transcription industry continues to grow. As the need for individuals in this field keeps growing, the options for working at home also grow.

Starting a medical transcription home business is a good area to start in if you would like to work at home and receive the same pay you would if you were in the office. There are a couple of ways to work in your home-based MT business. One way is to find a traditional employer who gives you all the benefits of working in-house, but who allows you to do this from home. This is more likely to happen if you have worked for this employer in an office already. Another way to set up a medical transcription business is to accept clients through advertising. This would be a freelance MT business.

If you are going to start your own business, remember that it might take some time getting clients. Don't forget that you are not limited in location. You may be able to find clients for your medical transcription business through the internet. As demand increases, the needs for your services will increase.

Though you want to charge the going rate for medical transcription, working from home allows you to be flexible with fees. You can charge somewhat higher than somebody working in an office because your client does not have to pay for insurance or a pension for you. Working in your own home business also allows you to set your own hours. If you want to work full time, you can. If you want part-time hours, this is not a problem. If you want vacation time, just be sure you don't accept work that will not get done before you go.

If you like to be there to take your children to school and pick them up afterwards, a medical transcription business is a good option. It will pay more than most work-at-home jobs but offer all the benefits of being at home. You don't have to worry about the commute or the parking. With a medical transcription business, you can work in the morning or, if you are a night owl, work in the evening.

Many people prefer to work from home. Few can actually make a living this way. Medical transcriptionists are among these few, and opportunities are expected to grow in the coming years.

If you are interested in a job that allows you the flexibility to stay home, consider a medical transcription business. It is one of your best options for working from home.

Non-medical Home Care Business

Home care in the United States is a diverse and dynamic service industry. Approximately 20,000 providers deliver home care services to 7.6 million individuals who require services because of acute illness, long-term health conditions, permanent disability, or terminal illness. Annual expenditures for home health care are projected to be $48.3 billion in 2007. Home care is a broad term that describes a wide variety of health related services provided in the home setting. Home care is health care brought to your home to maintain or restore your health and well-being.

Growth Trends in the industry
Seniors are one of the fastest growing population groups in the United States. The senior population has grown about twice as fast as the overall population since the early 1980s. The growth is also expected to continue early in the second decade of the new century when baby boomers turn 65.

Seniors aged 85 and over are the fastest growing segment of the overall senior population. Consequently, the demand for Non Medical Home Care services is also growing. It is listed as one of the fastest growing occupations by the U.S. Labor Department. According to AARP, as Americans age, most will remain in their own homes. Nearly 7 out of 10 older Americans own their own residence and most have no plans to move.

As a result, fewer seniors are getting the help they need with simple daily functioning. For example, in 1990, 80 percent of seniors needing help to prepare their meals reported that someone was available to help them; by 2001, that had dropped to just 60 percent, according to the National Council on Aging. Overall, from 1988 to 2001 there was a significant decrease in the number of seniors who reported that they had spouses, relatives, friends or neighbors to provide personal care or assistance. Today, an ever-increasing senior population has fewer resources available to help them with the daily tasks of living. At the same time, older adults have longer life expectancies than ever before.

Leading Psychologists believe by seniors remaining in their own homes, they can retain an important sense of independence. It is also psychologically beneficial for older seniors to remain in familiar surroundings. While their well-meaning children may wish to put them in a retirement home, the fact is that forced relocation can cause some seniors to feel disoriented, depressed and confused.

Remaining as independent as possible can boost a senior's overall sense of well-being. Staying in their own home is, in most cases, far more preferable (as well as less costly) than relocating to an assisted living facility. It gives them a sense of empowerment, and allows them to retain close friendships with neighbors.

The Business Opportunity
Until recently, however, few choices were available to healthy seniors who wished to remain in their homes. Most health businesses only offered Medical Home Care. This can be extremely costly, since most professionals must be registered nurses or nurses’ assistants. In addition, they may balk at performing light housekeeping tasks. Finally, they rarely have the opportunity to build long relationships with their clients. Often a different professional appears every week, which is disorienting to seniors and prevents establishing a bond with their caregiver.

Your business, Non-medical Home Care, in contrast, is designed to help the older adult with the tasks of everyday living. Non-medical caregivers do not assist with medical procedures, and since they are not registered nurses or medical personnel, their hourly rate is not as high. They also offer the opportunity for steady companionship, as they are generally assigned to specific clients on a long-term basis, enabling a friendship to grow.

These caregivers can help seniors maintain their independence by taking over the daily tasks that become increasingly difficult with age. They can take the client grocery shopping or to the bank, prepare meals, do light housekeeping and provide daily conversation and companionship. Non-medical caregivers represent a rapidly growing trend to allow people needing help to remain in their home or in the community.

Getting Started!
Barriers to entering the Non Medical Home Care business are relatively low. While potential profits are medium to high. Your success depends upon many variables: your marketing efforts, your start up budget, the demographics of your area, just to name a few critical attributes. In most states no formal training is required to provide Non Medical Home Care services. It is important to check with your state-licensing agency concerning the appropriate license for the services you will offer. Not all Non-Medical Home Care agencies can perform personal care services without a licensed.

As with all business, as the business owner, you must have exception drive and motivation. In addition, your customers will expect your business to be punctual and trustworthy. Whether you plan to provide the services yourself or hire employees, these are key business characteristics that cannot be overlooked.

The start up cost for your home care business depends on how you define your business scope. The cost can range from low to medium-high. Some business owners have started their Non Medical Home Care business with as little as a thousand dollars to as much as five hundred thousand dollars.

If you are interested in starting a Non Medical Home Care business you have two options. You can choose to start your business on your own or your join forces with a Non Medical Home Care franchise.

If you choose to start your home care business on your own there is a diverse amount of information available online and in bookstores that can help you achieve your goal of establishing a profitable home care business. You can find general business startup information ranging from how to raise capital, how to establish your business plan, to Home Care Guides specific to the Home Care industry. These guides can provide you with the critical information you need to get started.

There are pro’s and con’s to each start up option. The benefits to starting on your own are lower cost, ease of entry, and no franchise fees. The downside is you won’t have the on-going guidance of the franchisor to steer you around problems and pitfalls.

If you decided go the franchise route you will benefit from the well-established plans of the franchisor. Many of the mistakes and pitfalls that you may face by starting on your own will already have mitigating solutions. The downside is that you can expect a higher start-up cost in addition to a recurring royalty cost of 4 to 10 percent. Furthermore, the market area where you would like to operate your business may not be available.

In the end, Non-Medical Home Care is an option that allows the senior to remain in the home without feeling overwhelmed. The senior receives the assistance and companionship required, the family enjoys peace of mind that a beloved parent, aunt or uncle is not struggling with the simple tasks of everyday living and you get the opportunity to start one of the fastest growing business that will continue to grow well into the future. It is a "win-win" situation for all.