Medical Billing Sold! How Can DBI Help You?

Davidson Business Investments is pleased to announce the sale of ProMed Billing Inc. a Medical Billing company providing practice solutions to Grangers Management Holdings Inc.

The transaction was a one of many that DBI has concluded in the Medical Billing and technology arena. DBI worked to accomplish client goals, bringing the best possible solutions to the table for both parties.

For further information on how we can help you accomplish your goals call Frank Davidson at 704-999-9728 for a confidential discussion.

2 New Business Listings GoDBI.com

$720,000 SDE Commercial Cleaning Service in North Carolina
Asking: $1,400,000
Gross Income: $1,150,000
Cash Flow: $720,000
Established: 1991
Inventory: $15,000 Included!
82 Employees

$9,500,000 Gross Collection Agency in Illinois
Asking: $1,300,000
Gross Income: $9,500,000
Cash Flow: $520,000
Established: 2006
39 Employees

Visit GoDBI.com to Learn More!

Medical Billing Collection Company

Frank Davidson is Actively Seeking a Medical Billing and/or Collection Company for a New Investment Group – Could It Be Yours?

Please Contact Mr. Davidson TODAY to Discuss Selling Your Business!

Admin@GoDBI.com

7 Steps To Selling Your Small Business

Selling a small business is a complex venture that involves several considerations. It can require that you enlist a broker such as Davidson Business Investments, an accountant and an attorney as you proceed. Whether you profit will depend on the reason for the sale, the timing of the sale, the strength of the business’s operation and its structure. The business sale will also require much of your time and, once the business is sold, you’ll need to determine some smart ways to handle the profit. Reviewing these seven considerations can help you build a solid plan and make negotiations a success.

1. Reasons for the Sale
You’ve decided to sell your business. Why? That’s one of the first questions a potential buyer will ask. Owners commonly sell their businesses for any of the following reasons:

• Retirement
• Partnership disputes
• Illness and death
• Becoming overworked
• Boredom

Some owners consider selling the business when it is not profitable, but this can make it harder to attract buyers. Consider the business’s ability to sell, its readiness and your timing. There are many attributes that can make your business appear more attractive, including:

• Increasing profits
• Consistent income figures
• A strong customer base
• A major contract that spans several years

2. Timing of the Sale
Prepare for the sale as early as possible, preferably a year or two ahead of time. The preparation will help you to improve your financial records, business structure and customer base to make the business more profitable. These improvements will also ease the transition for the buyer and keep the business running smoothly.

3. Business Valuation
Next, you’ll want to determine the worth of your business to make sure you don’t price it too high or too low. Locate a business appraiser to get a valuation. The appraiser will draw up a detailed explanation of the business’s worth. The document will bring credibility to the asking price and can serve as a gauge for your listing price.

4. Selling on Your Own vs. Using a Broker
Selling the business yourself allows you to save money and avoid paying a broker’s commission. It’s also the best route when the sale is to a trusted family member or current employee. In other circumstances, a broker can help free up time for you to keep the business up and running, keep the sale quiet and get the highest price (because the broker will want to maximize his or her commission). Discuss expectations and advertisements with the broker and maintain constant communication.

5. Preparing Documents
Gather your financial statements and tax returns dating back three to four years and review them with an accountant. In addition, develop a list of equipment that’s being sold with the business. Also, create a list of contacts related to sales transactions and supplies, and dig up any relevant paperwork such as your current lease. Create copies of these documents to distribute to financially qualified potential buyers.

Your information packet should also provide a summary describing how the business is conducted and/or an up-to-date operating manual. You’ll also want to make sure the business is presentable. Any areas of the business or equipment that are broken or run down should be fixed or replaced prior to the sale.

6. Finding a Buyer
A business sale may take between six months and two years according to SCORE, a nonprofit association for entrepreneurs and partner of the U.S. Small Business Administration. Finding the right buyer can be a challenge. Try not to limit your advertising, and you’ll attract more potential buyers.

Once you have prospective buyers, keep the process moving along:
• Get two to three potential buyers just in case the initial deal falters.
• Stay in contact with the potential buyers.
• Find out whether the potential buyer prequalifies for financing before giving out information about your business. If you plan to finance the sale, work out the details with an accountant or lawyer so you can reach an agreement with the buyer.
• Allow some room to negotiate, but stand firm on the price that is reasonable and considers the company’s future worth.
• Put any agreements in writing. The potential buyers should sign a nondisclosure/confidentiality agreement to protect your information.
• Try to get the signed purchase agreement into escrow.

You may encounter the following documents after the sale:
• The bill of the sale, which transfers the business assets to the buyer
• An assignment of a lease
• A security agreement, which has a seller retain a lien on the business

In addition, the buyer may have you sign a noncompete agreement, in which you would agree to not start a new, competing business and woo away customers.

7. Handling the Profits
Take some time, at least few months, before spending the profits from the sale. Create a plan outlining your financial goals, and learn about any tax consequences associated with the sudden wealth. Speak with a financial professional to determine how you want to invest the money and focus on long-term benefits, such as getting out of debt and saving for retirement.

Conclusion
Selling a business is time-consuming and for many, an emotional venture. A good reason to sell or the existence of a “hot” market can ease the burden, as can the help of professionals. It may also be possible to receive free counseling from organizations such as SCORE, and your local chamber of commerce may offer relevant seminars and workshops. When all is said and done, the large sum of money in your bank account and your newfound free time will make the grueling process seem worthwhile.

Read Full Article: http://www.investopedia.com/articles/pf/08/sell-small-business.asp#ixzz3bv8mb2nk

We Need A Medical Billing Company Right Away!

Sold

$1.4 Million Medical Billing in California
$1.4 Million Medical Billing in Florida
$3.6 Million Medical Billing New Jersey

We Need More Medical Billing Companies for Sale!
We’re Getting Top Dollar Right Now!!

Call Frank Davidson Today
704-999-9728

http://www.GoDBI.com

Buyers Seeking Insurance Agencies

We Have Buyers NOW!!

Seeking Insurance Agencies

DBI Adds Value To Your Business With 25 Years Experience Specializing In Insurance Agencies.

Owner Benefits Working with DBI Specialists:

Maximize Value  –  30,000 Registered Buyers  –  Free Opinion of Value  –  Negotiations That Accomplish Your Goals  –  Guidance Through Closing  –  Help With Financing And SBA Prequalification

Selling your company in today’s market, you need experienced brokers who are in touch with all of the different structures and transitional financing methods in order to get your transaction closed. You also need to be able to rely on the broker doing their job with honesty and respect for all of those who are involved. DBI has the experience and expertise giving the highest level of service in order to provide the support entrepreneurs need when selling their company.

How Can DBI Accomplish Your Goals?

Contact Us For a Confidential Evaluation!

704-362-1295

Admin@GoDBI.com

www.GoDBI.com

Davidson Business Investments

“We Go Above And Beyond In All We Do

 

5 Medical Billing Questions You Should Know The Answers To

Staying well informed on the latest changes in medical billing will ensure your practice runs as effectively as possible with the fewest amount of denied claims. Unfortunately this industry can change quickly, so you really have to make an effort to not just get on top of all the knowledge but also to stay on top of new information. It can become quite difficult to sort through all of the nonsense sent your way, and since some information is more important than others, we have put together this list of the 5 medical billing questions you should know the answers to in order to perform the task successfully.

Question 1: Who can bill claims using the CMS-1500?

Answer: Any non-institutional provider and/or medical supplier may use the CMS-1500 for medical billing purposes. Some examples of providers and suppliers that may qualify include:

Ambulance services
Certified registered nurse anesthetists
Clinic nurse specialists
Clinic psychologists and social workers
Nurse midwives
Nurse practitioners
Physician’s assistants
Providers of clinical diagnostic laboratory services
Providers of home dialysis supplies and equipment

Question 2: What refers to Medicare benefits when Medicare is not the primary insurance?

Answer: Medicare Secondary Payer (MSP) is the medical billing term used to describe benefits that are available when Medicare is not the primary insurance carrier. Medicare is the primary insurance when the patient is 65 or older and:

Has a small group plan through their own or a spouse’s employer
Has insurance made available through a retirement plan
Medicare is also the primary insurance when an individual is disabled and has a small group plan through their own or their spouse’s employer, regardless of age.

Question 3: Who is the payer of last resort?

Answer: Medicaid is always the payer of last resort when the patient also has coverage under other health plans. Medical providers must notify Medicaid of any third party insurance information they are aware of, in addition to informing them as to any payments they receive on behalf of the recipient.

Question 4: What set of questions are asked to determine MSP situations?

Answer: The Medicare Secondary Payer Questionnaire is given to determine MSP situations. The questions contained in this questionnaire should be asked during each admission for those who have other insurance coverage outside of Medicare. Doing so will also enable providers to determine whether or not other payers are primary or secondary.

Question 5: Which procedure codes are most often used by physicians rendering services?

Answer: CPT codes, which have been developed by the American Medical Association (AMA) in order to identify the most common medical billing codes used by physicians when treating patients. The most frequently used procedure codes are those relating to medical evaluation and management, a few of which include:

99201-05 New Patient Office Visit
99211-15 Established Patient Office Visit
99281-85 Emergency Department Visit
99241-45 Office Consultation

The answers to these five questions are important for anyone who does medical billing on a regular basis to know. It is important that you have a strong working knowledge of each of these situations. If you were unable to answer all these questions correctly, you may read the attached whitepaper or feel free to contact us to find out more information.   Source

Selling HealthCare Businesses for 25 Years, DBI Can Help Increase Your Companies Value!

Frank Davidson

Personal Cell: 704-999-9728

Direct Email: BizBroker@Hotmail.com

Live Chat: http://www.GoDBI.com

How Obamacare will impact medical billing in 2015?

It’s now been over four years since the Affordable Care Act, otherwise known as “Obamacare”, officially went into effect in the United States. However, we are just now learning the wide-ranging impacts the legislation has had on the healthcare industry, and in particular on medical billing in hospitals and doctor’s offices throughout the country. While we still don’t know the scope of changes that are yet to occur, there are some undeniable trends that seem to be making their way down the pipeline, particularly as we prepare for the oft-mentioned “employee mandate”, which, if all goes according to the (often revised) plan, goes into effect in 2015.

Medical billing has never been a particularly popular activity in doctor’s offices and in hospitals. Now, with the increasing number of medical coding requirements resulting from the Affordable Care Act, medical professionals are continuing the trend of outsourcing this work to companies that specialize in it. According to a report in Seeking Alpha, large outsourcing companies such as Firstsource Solutions and WNS are increasing their domestic US presence to accommodate a growing number of medical professionals who are choosing to outsource medical billing to them.

By 2015, more doctors and hospitals are projected to outsource their medical billing than ever before, in large part thanks to Obamacare and growing administrative costs. The other less discussed (but no less important) consideration is that outsourcing medical billing reduces liability on the hospital or doctor’s office.

While outsourcing is certain to increase in 2015, The Bureau of Labor Statistics estimates that the medical billing industry as a whole will increase in 2015 as well. In fact, it is estimated that the industry will grow by about 22% between 2012 and 2022. While some of this increase is in fact due to regulatory and administrative burdens resulting from the Affordable Care Act, many experts also believe that the changes from the ACA will actually reduce administrative issues, increase efficiency, and ultimately grow the medical billing industry at a slower rate than it otherwise would have in the absence of the Affordable Care Act.

The other key reason why the medical billing profession is expected to grow is the simple fact that, under the Affordable Care Act, more people will have access to healthcare, which means more medical coding and medical billing will be required. While increased access to healthcare for the overall population (and particularly the poor) is a worthy goal, it comes at the very real cost of increased administrative and regulatory issues, at least in the short-term.

While it’s true that one of the original promises of the Affordable Care Act was reduced difficulty for hospitals and doctor’s offices that needed to pre-certify or verify eligibility of a patient for a particular procedure, reality has proven itself to be more complicated. Early reports indicate that, at best, this process is as slow and cumbersome as it has always been, while critics claim that it is in fact less efficient than before the ACA was passed into law. Part of the problem stems from the fact that many insurance companies and medical offices still aren’t even sure how to properly code procedures and medical services; a problem that, while severe, should hopefully improve gradually in 2015 and onward if all goes well.

Obamacare is causing significant changes in the medical billing industry. Hopefully the negative aspects will diminish over time, while the promised benefits of the law start to take hold.   Source

Selling HealthCare Businesses for 25 Years, DBI Can Help Increase Your Companies Value!

Frank Davidson

Personal Cell: 704-999-9728

Direct Email: BizBroker@Hotmail.com

Live Chat: http://www.GoDBI.com