If you are thinking of working from home and you have been researching home-based work opportunities, chances are that you have seen one if not more than one advertisement for a business opportunity involving medical billing and/or medical coding. It is important for you to know that many of the advertisements for home-based medical billing work are scams. While there are some legitimate home-based medical billing positions out there, they are far fewer in number than the multitude of advertisements offering such “opportunities” would have you believe.
The United States Federal Trade Commission (FTC) has filed suit against some promoters of medical billing work opportunities because the promoters have overstated the income-generating potential of their so-called opportunities and have failed to provide pre-investment information as required by law to people who express an interest in their medical billing work opportunities. The promoters also claim that there is a huge demand for home-based medical billing professionals. The reality is that few people who pay for the “business opportunities” advertised by the promoters find any clients or make any money because competition in the medical billing industry is fierce, and most doctors and hospitals process their claims in-house. Those that do use outside workers most likely already have a relationship with a service provider that has been doing that work for them for a while, and they are not looking to change service providers any time soon.
One unfortunate thing about medical billing job scams is that the advertisements for the scam “opportunities” often appear in the help wanted section of the newspaper right alongside legitimate advertisements for hospitals that are hiring medical claims processors. How can you tell whether a medical billing work opportunity is the real deal? If you decide to call and inquire about an advertisement, ask the promoter to provide you with a list of at least fifteen people that have already purchased the business opportunity. Do not just ask for a couple of people that you can call, as the promoters may pay people to give glowing (false) testimonials. If the promoter is willing to provide a list of names so that you can choose for yourself whom to call, that is a good sign. Of course, it is just one of a few things that you should check. You should definitely follow through and actually call a few of the people on the list and ask them how the business works as well as who their clients are. Also, check with the Better Business Bureau and your state’s Attorney General Office Consumer Protection Division. These organizations are always on the lookout for scams and may have received complaints about the organization that you are inquiring about. Many home-based medical billing “opportunities” require an initial investment, so be sure to do your homework and avoid getting scammed.