With the increasing demands of medical professionals, handling extensive tasks from international operations to client relations, spending significant hours transcribing medical data is the last thing to cross anyone’s mind.
A straightforward way to manage these resources efficiently is through medical transcription outsourcing services from a company specializing in fast turnaround and accurate transcription to take care of those tasks.
Why Outsource Medical Transcription?
Essentially, medical transcription outsourcing services are one way your medical practice can work smarter instead of harder. This way, your medical practice can prioritize revenue-generating activities such as patient care.
Medical transcription converts audio or video recordings into paper or electronic documents that are easily transmitted, edited, and stored. These medical transcriptions are typically stored in your EHR system. Medical transcription services have helped the healthcare industry operate at optimum efficiency.
Medical transcription outsourcing is one remedy many healthcare providers have discovered to reduce expenses and maximize existing internal resources. Whatever the size, a medical practice or provider can save considerably and increase its process efficiency by partnering with a medical transcription outsourcing firm to manage its non-core functions.
A study estimates that 70% of medical practices in the United States outsource medical transcription services to external companies because of skills shortages and new regulations. The main drivers for medical transcription outsourcing in the healthcare industry are risk mitigation, flexibility, and cost reduction.
Initially, medical transcription outsourcing may appear as an expensive venture that increases transcription costs. However, there are many ways in which medical transcription outsourcing services make sense. This activity can be cost-effective while still maintaining high-quality healthcare services and patient care.
Pay for Services Only When You Require Them
If you only use medical transcription services occasionally, it is not financially reasonable for an in-house staff to manage these tasks. The costs of paying employee salaries compared to medical transcription outsourcing services is much higher. You might realize the latter option is more cost-effective in the long run.
Alternatively, even if your demand for medical transcription services is high, medical transcription outsourcing services to a top-quality medical transcription service provider can still help cut down your costs. Remember that a professional medical transcription service provider has minimal chances of making speech-to-text errors. In many cases, these errors can cost your business through expensive litigation.
Some medical transcription service providers will also work with your existing employees to help streamline operations by supplementing your current solution. Medical transcription service providers can cover your employees’ vacation or sick time and provide additional capacity for growing medical practices.
Evaluating Medical Transcription Outsourcing
Other than evaluating transcription rates, you should also review the quality procedures and policies practiced by a medical transcription service company. The best firms offer strict multi-level quality guarantee processes to reduce the number of errors. When evaluating firms, a couple of other questions would be: can you provide voicemail transcriptions? Do you really need a medical scribe instead of a transcriptionist?
Reduce IT Responsibility
Medical transcription entails advancing software and investing in the best hardware to listen and transcribe with minimum to no errors. A healthcare facility is relieved of this hassle through medical transcription outsourcing services. IT for healthcare can be costly, and working with a HIPAA-compliant firm can help decrease some of that cost.
Ability to Manage Unexpected Influx of Transcription with Ease
The number of patients occasionally increases during certain seasons and less during others. The drawback of only having in-house resources during such times can prove challenging and may decrease process efficiencies and negatively impact time spent with patient care.
On the other hand, your medical practice may have less workforce to handle much work during high patient seasons. However, with medical transcription outsourcing, you only pay for the work you outsource.
Dismissal from Human Resource Responsibility of Hiring and Retaining
With medical transcription outsourcing services, the service provider is responsible for hiring, firing, or retaining medical transcriptionists. The hiring by HR, which would have entailed identifying, interviewing, and hiring exceptional medical transcriptionists in healthcare and medicine, is reduced.
Saves Money and Invests in Better Patient Care
Setting up an in-house medical transcription department implies investing significant time, money, and energy. These investments can be reduced to a great extent when you choose medical transcription outsourcing. In this regard, the surplus funds can be ingested in providing better healthcare and patient services.
Decrease Management Costs
Outsourcing medical transcription services comes with numerous advantages, especially to the management. The top authority is freed from the additional responsibility of providing infrastructural facilities and managing an entire independent department.
Provide Reports and Transcripts that are Highly Accurate in Shorter Turnaround Times
Among the most notable benefits of medical transcription outsourcing is that medical transcriptions are highly accurate. Transcriptions are also presented in shorter turnaround times when they can be input directly into the EHR.
HIPAA Compliant Medical Transcriptions
Medical transcription services ensure optimum accuracy. Therefore, service providers providing their transcription are the best in the category to build a reputation and preserve extended business relations with each medical practice client. They achieve this by delivering standard HIPAA-compliant medical transcriptions that go through detailed quality checks.
Maintain Records and Streamline Workflows – Deliver Better Healthcare
An independent unit that delivers fast and efficient medical transcription can boost your ability to maintain detailed patient documentation. As a result, you build an improved workflow that enables your medical practice to upgrade service provision mechanisms and better search for your patient’s concerns.
Medical transcription outsourcing services are a growing segment in next-generation patient care and medical documentation. There is no doubt that medical transcription outsourcing will help further transform the healthcare industry.
Nathaniel Smathers, is contributor to the DataMatrix Medical blog with a background in healthcare content creation for over a decade. Nathaniel has a passion for exploring the intersections of healthcare, data analysis, and digital innovation.