Owner: Marketing the biggest challenge to new business
Q&A with Holly S. Monger, owner of HSM Insurance Consulting, Vernon Hills
Q: Describe your business. What do you do?
A: I am a health claims consultant. I organize, track, audit, appeal and sometimes file health insurance claims. I take the information provided by the insured and make sure the insurance carrier has paid all health insurance claims correctly. If not, I appeal the claim. If the claim is paid correctly, I let the insured know how much they owe, if anything. I provide tracking of each claim I review and information for tax purposes. I also educate people to better understand their own coverage.
Q: What made you start your business?
A: I was helping family and friends sort through their medical bills and insurance statements and found it to be rewarding. I started to educate them on what to look for and understand their own coverage. After a while, my family and friends recommended I start a business helping people with their health insurance needs.
Q: What has been the most difficult obstacle in running or starting a small business?
A: In a “nutshell” ... marketing. Over the years I have tried many different ways of marketing. Most of them failed. My business requires trust and privacy, which is hard to market. I found I have to earn trust and referrals.
Q: What do you enjoy most about operating your business?
A: The reward is simply being able to educate and help people. Removing the stress and anxiety from their lives. Health insurance is not easy to understand and fighting for a person’s benefits quite often takes patience and perseverance. Many people do not have the knowledge, patience or time that it takes to wade through medical bills, claim statements and insurance benefits.
Q: Is this what you pictured yourself doing when you were young? When you were young, what did you want to be when you grew up?
A: No, at first I wanted to be a nurse. Nursing however, was not what I thought it should be at the time, so I learned to process medical claims for an insurance carrier instead. I learned every aspect of a medical claim from its inception to contract and payment.
Q: What keeps you up at night?
A: How to get to the people that need me.
Q: You could give one tip to a rookie business owner, what would it be?
A: Know that any business is a risk and build a network of support to help you. Especially, when the going gets tough.
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HSM Insurance Consulting
Business: HSM Insurance Consulting Location: Vernon Hills Owner: Holly S. Monger Year business started:<B> </B>1992
Website: <a href="http://www.hsmclaims.com/">www.hsmclaims.com</a>