With the increasing demands of medical professionals, handling an extensive variety of tasks from international operations to client relations, spending significant hours transcribing medical data is the last thing to cross anyone’s mind.
One simple way to manage these resources efficiently is through medical transcription outsourcing services from a company that specializes in fast turnaround and accurate transcription to take care of those tasks.
Why Outsource Medical Transcription?
Essentially, medical transcription outsourcing services is one way your medical practice can work smarter as opposed to harder. This way your medical practice can prioritize revenue-generating activities such as patient care.
Medical transcription is the process of converting audio or video recordings into paper or electronic documents that can easily be transmitted, edited and stored. Depending on the workflow of your medical office or practice, these medical transcriptions are then stored into your EHR system. Medical transcription services have helped the healthcare industry operate at optimum efficiency.
Medical transcription outsourcing is one remedy that 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 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 the main drivers for medical transcription outsourcing in the healthcare industry are risk mitigation, flexibility, and cost reduction. Because of this, the trend of medical transcription outsourcing services is expected to continue.
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 can make a medical practice much more 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. When you evaluate the costs of paying employee salaries compared to medical transcription outsourcing services, 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. Keep in mind 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 in the form of expensive litigation.
Some medical transcription service providers will also work with your existing employees to help streamline operations by to supplementing your existing 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, it is recommended you 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.
Reduce I.T. 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.
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 to be 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. Nevertheless, huge amounts of information can also be easily handled.
Dismissal from Human Resource Responsibility of Hiring and Retaining
With medical transcription outsourcing services, it is the responsibility of the service provider to hire, fire or retain medical transcriptionists. The supposed work of the HR that would have entailed identifying, interviewing and hiring exceptional medical transcriptionists in the field of healthcare and medicine is reduced.
Saves Money and Invests in Better Patient Care
The option of setting up an in-house medical transcription department implies investing significant amounts of time, money and energy. These investments can reduce 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 and presented in shorter turnaround times.
HIPAA Compliant Medical Transcriptions
Medical transcription services ensure optimum accuracy. Therefore, in order to build a reputation and preserve extended business relation with each medical practice client, service providers ensure that their transcription are the best in category. They achieve this by delivering up to standard HIPAA compliant medical transcriptions, which go through detailed quality check.
Maintain Records and Streamline Workflows – Deliver Better Healthcare
When you have an independent unit that delivers fast and efficient medical transcription, you are able to boost up your ability to maintain detailed documentation of patient and medical records. Resultantly, you build improved work flow that enables your medical practice to upgrade service provision mechanisms and search for concern of your patients in a better way.
In general, medical transcription outsourcing services is a growing segment in the field of next-generation patient care and medical documentation. It is no doubt that medical transcription outsourcing will help further transform the healthcare industry for the better.
