Small Business

OK, you’ve thought about starting your own business working from house, but is it a good idea? What’s so great about starting your own business and spending your time doing your work from your home?

Here are 7 reasons why you should consider starting your own business from home…

1. Less time travelling to and from work. How much time do you think you will spend getting to and from your spare bedroom that now acts as your ‘office’ - a lot less than the time you used to spend sat in the car, hearing the same records on the same radio station, whilst the traffic you’re stuck in doesn’t move.

It may seem I’m making a silly point, but it is in fact a very key benefit to working from home because of the amount of ‘travel time’ you save, allowing you to either start work quicker, or see more of your family, or simply just to spend more time in bed!

2. You can save money. By the fact that a part of your home’s mortgage or rent can be offset as ‘office rent’ means you can actually save money working from home. Plus there are many other savings like the electricity, phone bills, car fuel costs, etc all of which you can use part of what you pay on your home bills to offset your tax bill.

3. More family time - this is a key one. When you consider that in the world there is never enough hours in the day, and spending quality time with those we love can often drop down the priority list, even when we know they should be amongst our most important priorities. Having the ability to work from home means even taking a silly thing like a coffee break means you can have a 15 minutes catching up with your partner or playing with the children, times you and they will value.

4. Time control. You are in control of your own time - you work when it suits you; at the times that best suits you. If your daughter has a swimming gala, you can take the afternoon off and be one of the few parents that could make it to support your little girl. You can then choose, if you wish, to make up any lost hours of work by working in the evening. It’s really only working from home that offers you this type of flexibility.

5. Share the business. By working from home, you may choose to share the business you’re your partner, and have many of the additional benefits of working together, sharing ideas, achieving things as a partnership - in both business as well as social. Now you and your partner may not feel working together is a good idea, which I respect, but it’s the ability that working from home offers which allows you to choose.

6. Create the working environment that suits you. Put around you the environment that you would most enjoy working in. I love music so whilst I’m working from home I like to play music and not just the work’s radio channel - whatever ever CD I want; I only have to please me. I also enjoy time with my dog, so he spends most of the time curled up at my feet in my home-office (when he’s not looking at me longingly for a walk!). The key point I’m making here is it’s you that creates around you the working environment you enjoy working in.

7. Finally …it’s fun! I really enjoy working from home and most folks I coach and help increase their incomes working from home, would say the same and agree - working from home is so much more relaxing and less stressful.

When you pull together all these 7 great reasons for starting your own business from home, it’s easy to see why it makes so much sense.

Tags: small business loans, small business startup, small business

Each state has passed a Clean Claim Law. The level of benefit these laws provide to medical practices and facilities starts on the low end with states such as South Dakota that provide little more than a slap on the insurance company’s wrist to states such as Texas which levy substantial financial penalties on tardy payers.

The fundamental concept behind Clean Claim Laws is that insurance companies must respond to a clean claim within a given period (typically 30 days for electronic claims). Systematic utilization of these laws will allow a medical billing service or medical practice to significantly accelerate and increase collections. In order to take advantage of the clean claim law one must have a monitoring system built into your medical billing process that identifies:

1. To which insurance companies does your state’s clean claim law apply (some payers are exempt);

2. The date the clean claim “clock” begins (i.e., the claims submission date),

3. Any events that legitimately give the payer more time to process the claim (for instance, a request for additional information);

4. When your practice has taken actions in response to payer requests;

5. The date when you received the payer’s final adjudication decision.

The idea of systematically tracking all of this information may be daunting, but with a smart system design it is possible and most definitely a worthwhile undertaking. After submitting a few Clean Claim law violation reports you will see your claims pay faster. I have seen situations where payers have actually called just to assure the practice that claims will be quickly processed.

One way to quickly get started using the clean claim law is to run a trial on a payer that you feel consistently takes more than 30 days to ajudicates claims. Find a small number of large claims for this payer that have gone past 30 days and then conduct a trial run with those claims. This will allow you to learn the fundamentals of how to submit and monitor complaints and see the results of your complaints.

Copyright 2006 by Carl Mays II

Tags: small business idea, small business loans, small business startup