What Income do I Expect From a Billing Service?
Various federal and state laws forbid all business opportunity companies from specifying
a level of income entrepreneurs can earn from the business they are selling. The
rationale for these laws is simple: as with everything in life, there are no guarantees.
Your potential success depends on many factors that we cannot predict nor control.
Your income depends on factors like your level of effort, your prior business background
and skills, the time you dedicate to starting your company, and your willingness
to market your services aggressively. ClaimTek supports these regulations and we
urge you, in fact, to be careful about blindly accepting unrealistic income projections
from other medical billing business opportunities.
However, not knowing your income potential makes planning difficult when you are
considering starting any new business. To alleviate this problem, we are providing
here some tools you can use to make your own income projections.
Below are two calculators, as follows:
- Quick Income Projection - This tool
lets you do a fast calculation of your potential gross income. It does not take
into account business expenses.
- Detailed Income Projection -
This tool allows you to perform detailed analysis of your potential income over
time. It takes your estimated monthly projections over four quarters (1 year) plus
an estimate of your ultimate goal. It then calculates your gross quarterly and annual
income, expenses, net income and cash flows.
Additional Income Opportunities Beyond Billing
In addition, the above projections are based only on performing billing. You can
add other services to your business that will increase your potential. Income can
be generated from additional Practice Management Services that ClaimTek sets you
up to offer, such as EFT, RBS, Well-Care, Digital Scanning and Collections. See
Profitable Services for more information