In order to keep operating costs low and improve office efficiency and revenue, most of the healthcare facilities in the US outsource their transcription jobs to medical transcription service providers. Â Healthcare firms that employ medical transcription service providers do not have to make large investments to buy transcription equipment and train staffs because these costs are met by the medical transcription company.
Medical transcription services enhance efficiency and improve revenue of a healthcare organization by:
- Allowing medical professionals to focus on their core business activities and provide quality healthcare – this helps the healthcare professionals to make the best use of their time and maximize their productivity resulting in better revenue.
- Reducing money spent on costly equipment: Operational expense for in-house medical transcriptions is very high. In medical transcription outsourcing, there is no need to own a dictation system or upgrade to the latest equipment. This reduces overhead cost effectively.
- Reducing transcription costs: Medical transcription service helps healthcare facilities to save 40% to 50% on the cost of medical transcription. By implementing a third-party medical transcription service provider, you can save cost on employee benefits, such as payroll taxes, medical office space, health insurance, paid vacation time and office equipment.
- Quickening reimbursements: In medical transcription outsourcing, patient medical records are created on time. This can speed up reimbursements as patient medical records provide the base for coding and billing.
- Helping EMR/ EHR adoption: Allows the healthcare facility to adopt EMR/EHR by enabling transmission of data using HL7 interface.
Additional benefits of medical transcription services include:
- Saves your time as well as effort
- High level of accuracy
- Encrypted and secure file transfers
- Improves work flow
- HIPAA compliant medical transcription
- Short turnaround time
- Provides security measures to prevent vandalism of any information stored on system