Dubai is a hub for outstanding medical care facilities, as providing a health care plan is made compulsory for all its residents. All UAE medical services, including hospitals, specialty clinics, testing centers, or drug stores, need to register with appropriate insurance providers to take care of and advise the vast number of patients.
The process of handling insurance claims is one thing the healthcare facilities take care of to get their compensation from over-investigating insurance providers amid rising operating costs and legal challenges to keep their medical facility up and to run. The consequence of abandoning this primary task will lead to delayed and decreased income, increased labor expenses, and decreased operating efficiency and profits.
The rational approach will be to outsource the process to professionals in to achieve a much quicker return from insurance companies and deal with the claims with a higher competence level. In today's times, establishing a medical billing company plays a significant role in the medical industry.
Business Setup in Dubai Medical Sector
In Dubai, there is no standard formula to start the healthcare business. For enrolling in the business and engage in this extension, it is crucial to ensure that your business is adequately established. It means identifying the company's target audience and obtaining the permits required to conduct business. While the Ministry of Health will supervise all the businesses, the following are the establishment options in Dubai, and regulatory authorities available:
Incorporating business in Mainland Dubai can be done by Dubai Economic Development (DED), Dubai. DED allows the location of your company anywhere in the Emirates. You may develop a medical billing company that is an environment with low leading costs or close to where your demographic target exists. The following are the steps for establishing this company.
Investigation of the Business Entity: You can either set up an LLC that needs a minimum of 51 percent owned by a local investor, a branch of a foreign corporation that is a wholly-owned parent company subsidiary, or a sole proprietorship where the entity owns the liability. A Local National Service Agent (NSA) is provided in the case of a single organization or a global branch.
Register your business name: This, too, can be done through the DED.
Apply for the initial approval: At this point, you are expected to know the entity's shareholders and general manager. You will apply the forms to the department, and you will be required to produce passport copies of all business persons involved and constitutional documents for the shareholder.
Apply for authorization to the Dubai Health Authority (DHA): To carry out the necessary business operation, an applicant would have to approach the DHA for approval once the application to start a business is underway. The approval process for DHA will vary according to the nature of the company you plan to pursue.
Collect the records and submit the same
Obtain final DHA approval: After the registration papers have been signed, the DHA is authorized to inspect the facility to ensure compliance with its regulations.
Issuing of DED and DHA license: If all the approvals have been given, your business license can be obtained, and the onboard and operating process can start.
When you have all permissions, you can start your own business in Dubai Mainland.
Dubai Free Zone
The healthcare sector, known as the Dubai Healthcare City (DHCC) has a separate free zone dedicated. It started in 2002 to meet the demand for high-quality, patient-centric healthcare. DHCC aspires to provide the UAE resident with world-class treatment and transform Dubai into a medical tourism center. The benefits of developing a company in the medical billing sector in Dubai are as follows:
- 100 percent International ownership
- Fifty years of zero income or corporation tax
- Zero Customs duties on goods or services
- A collection of tailor-made solutions
- An excellent platform to support those who work in your area
Scope of Medical Billing Company
Medical Billing Companies are the linkage between medical facilities, their patients, and insurance firms. They have services such as medical identification, population patient management, sales cycle management, account receivables, rejection management; policy follow-up, patient and claim to file, etc. Medical Billing firms are organizations that make claims on behalf of medical facilities to insurance providers and patients to ensure that their complaints regarding their services are paid out.
How to Set Up Medical Billing Company?
The Medical billing business with the Dubai Economic Department (DED) comes under a conditional license in the mainland. With a limited liability company (LLC), you could either set up the license as a legal structure or corporate structure.
The company maybe 100 percent owned by an expatriate in a conditional license, but the registration of UAE National as Local Service Agent is compulsory.
A commercial license framework would be 49 percent (expatriate) and 51 percent (local-national) of the UAE. There is an annual remuneration to be paid by the UAE National for all of the company's assets belong to the expatriate, and the UAE National will not intrude with the company's management.
How to Start Up Medical Billing Company?
- Registration of trade name
- Initial Clearance
- Digital signature authentication by the shareholder at the Department of Economic Growth
- Memorandum & Association Articles (For LLC Company) / Local Service Agreement (For Professional License)
- Final statement
- License issued
- 2-3 Name of the proposed organization
- Passport copy of owner and manager
- Visa Residence
- Present Sponsor NOC (if the applicant holds UAE Visa Residence)
- Agreement between Rental and Lease Office and Ejari.
Facility Requirement Service
A medical billing company may be set up on a general office, individual office, or facility within a business center. The minimum requirement of the office should be 200 sq. ft. Generally, for a 200 sq. ft. office, the company is liable for 3 to 4 Employment Visa in contrast to Investor Visas.
Employment Visa Eligibility Criteria
When provided, the license is valid for a maximum of 2 shareholder visas, whose name appears on the MOA, and each has a minimum share capital.
How Much Does It Cost to Start a Medical Billing Company?
The cost of the business setup in Dubai for medical billing may vary depending on the number of investors, the type of company, the legal nature. It is necessary to have a UAE citizen either as a Local Service Operator depending on the license type. Medical billing businesses offer options that make it easier for medical centers to scale up and perform day-to-day functions smoothly without the need to recruit, motivate, and pay additional staff.
Why Start a Medical Billing Business in Dubai?
Being a developed and prosperous city, Dubai 's population is health-conscious and strives physically and financially to obtain the best products and services in healthcare. If you have a basic knowledge of business setup in the UAE, there is enormous scope for starting a healthcare company in Dubai. The following are a few more advantages for companies in this sector -
- Company environment positive
- Unlimited investing sources
- Tax protection
At Commitbiz, we support many companies established in Dubai and the UAE and can provide useful guidance and experience in understanding the business environment. Contact us for further details to help set up a medical billing business in the UAE, or to grow a global company.