The year 2005 saw the advent of the New Jersey State Department of Banking and Insurance implimentation of the Third Party Billing Certification requirement for all medical billing services in the state.
Prior to 2005, essentially anyone could start a medical billing business with little or no experience. To the benefit of physicians in N.J ., this is no longer possible, and the medical billing service is now accountable to a high set of standards.
All existing and new companies must meet these standards in order to operate in the state.
The process requires submission of an extensive detailed business plan, personnel qualifications and resumes, criminal background checks, full financial disclosure, liability and workmen's compensation insurance, advertising and marketing plan, and numerous notorized statements.
Netprophets met or exceeded all of the State requirements for Certification.