Medical Transcription – Reduce Upfront Capital Investment Through Outsourcing
Many healthcare facilities may not be aware that outsourcing their medical transcription needs can actually reduce their capital outlay in non-healthcare related areas.
Healthcare business is ever changing and needs huge investments in the latest equipments to give the best possible care to patients. This means having to stretch limited money resources to cover all needs. Investing in capital equipment not related to the core business, like medical transcription can stretch the already over worked budgets to the limit.
What is the Capital investment required for medical transcription?
Capital investment for transcription could be in the following areas:
Aï¿½ Computer systems for transcribing including monitors, headsets, foot pedals, keyboards etc.
Aï¿½ Software for the transcription systems
Aï¿½ Server for centrally uploading dictation files and downloading finished transcripts
Aï¿½ Furniture used by in-house transcriptionists
Aï¿½ Software for integration of the finished transcripts from various transcription sources into the healthcare facility’s central system.
Though not directly related to the core business, transcription is vital to the smooth running of a healthcare facility and so cannot be ignored. In a situation where too many demands are made on limited resources, one easy fix is to outsource transcription needs. This then shifts the onus of major capital investment on to the service provider.
But the decision to outsource transcription needs should not be taken lightly, and one needs to carefully evaluate the service provider in terms of:
Aï¿½ Accuracy: This means the percentage of accuracy in the transcribed document with relation to the audio files. Minimum of 99% and above would be acceptable
Aï¿½ Turnaround time: Turnaround time refers to the time taken to revert the transcribed report to you. A Turnaround time of not more than 24 hours for normal reports and 4-12 hours for STAT reports would be considered ideal
Data security: The service provider being outsourced to should be HIPAA/HITECH compliant. The service provider has to have adequate security measures so that the confidential data transmitted back and forth is safe and secure
Fair pricing: Pricing should be fair and reasonable for the services rendered. Pricing method should also be transparent and simple so that concerned parties can verify the same at any stage of the process
Technology: The technology used by the service provider eases the life of healthcare professionals and support staff by providing multiple benefits and making the transcription system easy to use
Above all the medical transcription service provider should offer services to take care of all transcription needs without involving any additional investments on the healthcare facility’s part.