The healthcare community is under constant pressure to meet the increasing demands for quality services while still maintaining a healthy bottom line, meeting statutory obligations between numerous other obligations. Healthcare facilities and healthcare professionals are aided by many support services in their goal to meet all these contradictory demands placed on them. One such service that aid healthcare facilities and healthcare professionals is medical transcription. Medical transcription is the process of creating patient medical records from the dictation of healthcare professionals regarding the patient encounter.
Though this is essentially the main service provided by medical transcription companies, medical transcription also has a large to play in revenue management.
What is the role of medical transcription in efficient revenue management?
Documenting the care process in detail: It is a known fact the complete documentation of the patient encounter has a vital role to play in the reimbursement process. Medical transcription companies aid in this process by ensuring proper and complete documentation of the care process using skilled medical transcriptionists and rigorous processes to create legible and accurate patient medical records. This forms the base for coding and billing leading to reimbursement.
Documenting the care process on time: Another factor that medical transcription companies help in the reimbursement cycle is by expediting the process. Medical transcription companies ensure that transcription takes place as quickly as possible using a combination of skilled medical transcriptionists and the right process and transmitted back to the healthcare facility in a speedy and secure manner using the right technology.
Minimizing cost of transcription: Medical transcription companies not only actively aid in accelerating the reimbursement process but they also help reduce cost of transcription by limiting it to the actual usage and thereby contribute to indirectly to increasing revenues.
Reducing indirect costs incurred due to in-house transcription: Outsourcing medical transcription ensures that all the indirect costs incurred due to in-house transcription like the cost of real estate, cost of utilities, cost of management resources etc used for transcription are eliminated and can be used for developing the core business of the healthcare facility.
Providing support for adoption of EMR/ EHR: Apart from providing support for accelerating reimbursements and savings on cost of transcription, medical transcription companies also aid in the adoption for EMR/ EHR contributing to better revenue management. Some of the support services provided by medical transcription companies towards this end are:
- Editing and proofreading services for speech recognition software
- HL7 interface
- Structured dictation
- Structured transcription
- Discrete reportable transcription.
It can be concluded that medical transcription companies have a significant role to play in efficient revenue management by providing quality services.
TransDyne, a leader in the outsourced medical transcription industry has used their extensive background in information technology and their experience in serving the needs of the healthcare sector to provide affordable and integrated medical transcription solutions.
Among the software and tools offered by TransDyne for transcription, the smart delivery system has a large role to play in easing the path to EMR/EHR adoption The Smart Delivery system, which has features like User defined folder paths to enable easy imports to EMR systems is the suggested mode of document delivery where pre-defined file saving would help import documents to EMR systems. Apart from this TransDyne also offers discounted rates for those healthcare facilities that provide demographic data entered in the EMR rather than through other modes.
Along with medical transcription services involving multiple level quality checks to ensure accuracy, the use of the right technology for ease of use, turnaround time and security, at reasonable rates, TransDyne also provides discrete reportable transcription for adoption of EMR/ EHR.
To avail complete medical transcription services from TransDyne, click here.
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