How to Market your ​​Medical Billing Business

Medical Billing Management | PracticeAdmin

You’ve done it. You’ve ​partnered with an amazing software company​ and ​started your own medical billing business.​

Now you’re ​​working to grow your customer base and want to earn and convert more leads. But how do you start to market your medical billing service?

When you look closely at the industry, you’ll find the opportunities to market your business are endless, for one simple reason - everywhere you go, people need medical care and will eventually need to pay for it.

Talk about yourself

P.T. Barnum, one of the infamous founders of Barnum & Bailey Circus, once said that “without promotion, something terrible happens... nothing!”. This philosophy applies to all types of marketing​​.

Word-of-mouth​, or referral, marketing​ ​​is crucial, and the only person who can start such campaigns is you. Call up doctors that you, your family or your friends have personally visited to ask for referrals, attend networking events and local ​healthcare ​​conferences and meetings, ready to share your pitch and your story.

Also, never underestimate the power of a physical object with your business on it. Arm yourself with business cards and branded merchandise that is easily transportable, such as pens, to keep your business on your potential clients’ minds.

Create a dynamic online footprint

Even if you do visit every medical conference in your extended service area, you can’t ignore online marketing. According to ​Hubspot​, ​a company that develops a marketing software product, ​78% of Internet users conduct product research online before purchasing, which means that your website will make just as much of an impression on your potential practices as you do.

Also, engagement with your clients is even more crucial. 57% of businesses have acquired a customer through their company blog, and companies that blog get 55% more web traffic. Additionally, 41% of B2B companies have acquired a customer through Facebook, showing that social media and blogging helps in every industry.

But, the most important statistic of all is one that will make your budget excited. Inbound marketing, such as running your own website that attracts potential clients, costs 62% less per lead than traditional, outbound marketing, where you have to reach out to clients yourself, saving you time and money while increasing your ROI.

Research the needs of your community

If you aren’t getting the response you’re looking for in your area, it might be because you aren’t providing what the practices around you need. Look into the most prevalent type of medical practice in your community. Do your services integrate well with their speciality or does it ignore what their patients need?

Also, look into the age of the practice. Newer businesses might not have the expanded budget for billing that an older practice does, but an older practice might be more set in their ways and resistant to change. Also, a younger practice might be more receptive to a system that relies heavily on technology while ​a doctor at a ​​more mature ​practice could prefer ​that you do more printing to show him the money.

Partner with local programs

Another great way to get your name out into the community is to get involved with local medical billing schools or training programs. You can create a scholarship for students that requires the applicants to write an essay on the future of medical billing or set up a booth during a career fair to share your business’s unique philosophy with the future of the medical field.

You can also offer training programs for the students with a certification process or open up a workshop the community at large to educate local practices on the latest trends in medical billing. A topic example for these workshops can include how to increase collections at the time of service.  

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