Advanced Medical Transcription – How Outsourcing Ensures Savings
With increasing compliances and laws the healthcare industry has to deal with today, and along with increasing demand for their core services physicians have very little time left to handle medical transcription. Hence rather than keeping it in-house many physicians are opting for outsourcing their records to advanced medical transcription services which helps them avoid managing the staff involved in transcriptions, records, turnaround time, HIPAA compliance, technology, maintenance of equipment, and all the other verticals related to completing medical transcription services.
This has resulted in much more efficient systems and higher savings for various hospitals and healthcare centers, making simpler the process of healthcare for these physicians. Let’s take a look at some of the benefits physicians outsourcing transcription services are currently managing to take advantage of-
Economy of cost
The main advantage of outsourcing advanced medical transcription services is the cost-effectiveness procured as the transcription partner being a specialist is able to offer much more cost-effective rates as compared to getting it done in-house. The built-in cost benefits entail reduced training, administration, and HR costs along with shredding off the responsibility of annual maintenance of digital and transcription equipment.
Leverages Industry Experience
Advanced medical transcription companies have vast experience of working on an array of medical records and then the transcriptionists cross leverage their industry experience across various customers to provide high-quality superior records to all its customers.
Lowering of Investment
Healthcare center benefits from not blocking their investments towards investing in high-end dictation as well as technologically updated software for transmission, downloading, typing and submission of dictations; which is very essential during the medical transcription process. The investment requirement is hence lowered and money saved can be utilized in other activities of the healthcare center.
Staff & Administrative Responsibility
With advanced medical transcription services required in all the areas of the hospital or healthcare centers by outsourcing the entire process the healthcare center benefits greatly not only in reducing costs but also HR responsibility and administrative workload. Staff hiring involves expenditure on hiring, training and retaining the staff which is completely eliminated in the transcription area due to outsourcing.
Accuracy is one of the most important factors in the medical transcription industry and it is vital for patients’ welfare. Medical transcriptionists need to adhere to globally standardized, HIPAA compliant Medical transcription process and follow through with stringent multi-level QA procedures.
Advanced medical transcription services ensure all this is completely taken care of by looking into the editing, proofreading, and review of all the records. With timely quality checks and penalties, the service ensures complete accuracy which is maintained constantly.
Easily accessible reports
Outsourced transcribed reports being maintained on the service provider’s secure servers for two years are available easily to the physicians, through a secure and password-protected manner. When needed physicians can view and print or even distribute the reports for a second opinion to different locations, keeping in mind patient confidentiality.
Reduced IT Responsibility
Outsourcing transcription services also greatly relieve the burden of the IT department. While in-house the department is expected to manage and troubleshoot along with maintaining the various medical transcription areas. The IT department is also required to keep updated with latest technological demands; hence by outsourcing the department is freed of a huge and tiresome task and hence able to work on more important things, along with increasing tons of space on the server.
Outsourced advanced medical transcription services
All in all outsourcing Advanced Medical Transcription Services adds up to a more efficient, productive in-house team which can concentrate on other administrative tasks more accurately, while the physicians can solely looking into patient welfare.
Many healthcare units have seen their bottom line grow when they made the decision to outsource. This is mainly because with the increased time in hand the front office could schedule more appointments; with doctors able to see new and more patients. Moreover by getting increased time patient satisfaction too increased in turn increasing bottom-line and eventually resulting in higher savings.