One of the major factors in any commercial decision is the revenue and the health management sector is no different. In fact in the healthcare industry there is a constant effort to reduce expenditure and accelerate revenues. Sub contracting online medical transcription can aid health facilities in both these quarters.
How does outsourcing healthcare transcription assist optimize on costs?
Online medical transcription has been an integral component of health management by transcribing patient reports, which serve various functions. Patient records play an important responsibility in the following:
- Offers the basis of further care
- Provides details on the improvement of treatment
- Acts as evidence in case of legal issues
- Forms the foundation of coding and billing leading to payment
- Basis for referrals to other physicians
- Fulfills governmental obligation of maintaining patient records.
Though healthcare transcription is essential for the effortless managing and the commercial health of healthcare practices it is not a component of the core business of health facilities. And because online medical transcription is the practice of transcribing vital inputs like patient transcripts it requires time, concentration, capital outlay and skill that could dilute the focus of healthcare practices from their main business of delivering competent health management.
Online medical transcription needs to be timely, correct and HIPAA compliant to make certain of the smooth overseeing of healthcare practices. To make sure of this healthcare facilities would have to set aside a considerable part of their assets and this would effect in healthcare transcription being very expensive.
Outsourcing healthcare transcription ensures the suitable fix to restrain costs and makes sure that standards are kept constant. A specialized medical transcription vendor would ensure:
Correctness of above 99%: It is crucial that the information captured in patient reports is as accurate as feasible. To a sizable extent accuracy depends on the skills of medical transcriptionists. The skill of transcriptionists in turn counts on the medical transcription company having a stringent selection strategy and a comprehensive training program. By sub contracting online medical transcription healthcare practices essentially outsource all these activities. The competence of information captured in patient reports is high because of the relentless endeavors of the medical transcription company to hire the top-notch talent and train them to be specialists.
Turnaround time of 24 hours: Apart from correct information, the other major consideration is that formation of patient records should be quick. This not only aids the physicians deliver standard care but also assists hasten the cash flow of the healthcare facility, as medical transcription is the foundation for the coding and billing cycle
Confidentiality: Maintaining the security of patient data is not only compulsory by law but is the basis of the patient-physician relationship. Outsourcing medical transcription makes sure that the transcription vendor offers sufficient provisions to ensure HIPAA compliance of data during every phase of transcription
Technology that is effortless to utilize: Medical transcription services are aided and enhanced by use of technology. Software and tools not only speeds up the process and ensures for confidentiality, it also makes certain that healthcare professionals and support staff profit from multiple provisions like flexible modes of capturing dictation, preprogrammed transfers & retrievals, archiving, HL7 interface, remote printing and faxing etc.
Lesser costs: Subcontracted medical transcription makes certain restricting of expenditure in two certain ways. Sub contracting makes certain that the expense of transcription comes down by 40% to 50% ensuring savings. Contracting out also ensures that all indirect costs like overheads & utilities etc are also reduced.
TransDyne, a leader in the subcontracted online medical transcription industry delivers adapted solutions to the healthcare transcription needs of health facilities. TransDyne offers quality healthcare transcription at economical prices, performed by knowledgeable and qualified transcriptionists with a very quick turnaround time performed through secure HIPAA and HITECH compliant channels, with maximum levels of quality and all this with information technology that is advanced but easy to operate!
To avail complete medical transcription services from TransDyne, click here.
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