Medical transcription: Reasons for outsourcing

Medical transcription has always played a vital role in the healthcare process by creating records of the patient – healthcare professional encounter, converting the audio files provided by the healthcare professionals into text format. Healthcare professionals depend on information found in these patient records to provide quality healthcare. Medical records also play a vital role in the process leading to reimbursements. In situations where healthcare professionals/ healthcare facilities have faced malpractice litigations medical records have provided evidence regarding the treatment process.

The service of creating patient records through the process of medical transcription can be obtained from various sources. Healthcare facilities could have the in-house staff transcribe these records or have independent contractors provide this service or avail the services of a professional medical transcription service provider. It has been found that outsourcing medical transcription needs to a professional medical transcription service provider is the most effective, efficient and economic solution for the medical record documentation needs of healthcare facilities.

What are the reasons for outsourcing medical transcription to a professional service provider?

• Cut expenses: One of the main and obvious benefits of outsourcing medical transcription is that of saving on costs. Outsourcing helps the healthcare facilities save as much as 40%-50% on current costs. This is made possible by choosing the right service provider who can pass on the benefits of using the right team, the right process, the right technology and the economies of scale achieved by this by way of lowered costs.

• Accelerating reimbursements: Outsourcing medical transcription ensures that the transcription takes place on time. As medical transcription is the foundation for starting the receivables cycle, maintaining turnaround time helps speed up the process.

• Cut down on payroll costs: Medical transcription is a people intensive process requiring a skilled and trained team to maintain the high standards required. Moreover coordinating medical transcription requires management, administrative and information technology staff. Outsourcing helps save on the payroll costs of these personnel

• Save on infrastructure costs: Executing medical transcription in-house requires infrastructure like space, utilities, furniture and transcription equipment. Outsourcing medical transcription allows for optimum utilization of these resources towards the development of the core business of providing quality healthcare.

• Availing the services of specialists: Outsourcing medical transcription ensures that the healthcare facilities benefit from the experience and skills of the service provider. This enables them to reap the benefits of quality services at lower rates and the benefits of the technology used by the medical transcription service provider that provide secure and speedy services with multiple benefits

• Improve workflow: Medical transcription is essential part of the chain leading to quality healthcare and the process of reimbursement. Outsourcing ensures that creation of patient records takes place on time without compromising any of the quality parameters. This helps improve the workflow.

• Survive and flourish in competitive environment: Decreasing costs, improved cash flow and the added benefits of security & multiple benefits of easy to use technology provided by the outsourced service provider helps healthcare facilities survive and flourish in this competitive environment.

There are numerous advantages of outsourcing medical transcription. However while outsourcing, it is important for healthcare facilities to evaluate the medical transcription service provider based on parameters like accuracy, turnaround time, cost, security and the technology used to avail maximum benefits.

TransDyne, a leader in the outsourced medical transcription industry has been providing medical transcription services for over a decade. TransDyne offers quality medical transcription at reasonable prices, executed by experienced and qualified medical transcriptionists with a very quick turnaround time executed through secure HIPAA and HITECH compliant channels, with very high levels of accuracy and all this with technology that is advanced but easy to use!

To avail outsourced medical transcription services from TransDyne, click here.