The healthcare process is not only complex it is also an incredibly intricate and delicate process. Being an essential service healthcare has to deliver quality services every time! Healthcare depends on inputs from various quarters to be able to delivery quality healthcare every time. Therefore it becomes important for healthcare facilities to decide the focus areas and outsource the rest. This helps them not only focus on their core business better, but also cuts down costs and accelerates cash flow.
Medical transcription is one such activity that is an important contributor to the healthcare process, but not part of the core competencies of the healthcare facility. Outsourcing medical transcription creates synergies that result in improved healthcare services and lessening the burden of healthcare facilities in many vital areas.
What are the synergies created by outsourcing medical transcription?
The word synergy has been defined as the value of outcome that is much greater than the actual sum value of the inputs. Outsourcing medical transcription can be quoted as a good example of synergy. By outsourcing medical transcription, not only does the healthcare facility benefit from accurate, speedy, cost effective and secure creation of patient records, outsourcing also provides other benefits like:
Availability of a pool of skilled medical transcriptionists: The quality of patient records is dependent on the availability of skilled medical transcriptionists. To create a team of skilled medical transcriptionists would involve a lengthy process of selecting the right talent and training them. By outsourcing healthcare facilities effectively have open access to skilled medical transcriptionists as required without having to go through the process of recruiting and training. This creates a synergy of bigger pool of talent for healthcare facilities to draw on as needed without actually having them on the rolls thus eliminating a lot of hassles.
Elimination of Information Technology for medical transcription: The next ingredient that contributes to quality of medical transcription in terms of speed and security is technology. Technology has a huge role to play in the medical transcription process. Outsourcing medical transcription enables healthcare facilities full use of the software and technology developed by the medical transcription service provider for transcription without having to make huge investments. Healthcare facilities can enjoy the benefits of technology without the huge investments involved in developing and maintaining it.
Leveraged environment: Medical transcription in-house would involve investments in Information Technology, capital equipment and working capital. By outsourcing medical transcription healthcare facilities can leverage on the investments made by the medical transcription service provider in these areas and focus these resources on the core business
Pay per line: One of the major advantages of outsourcing medical transcription is that healthcare facilities can limit the cost of transcription to just the cost per line as charged by the medical transcription service provider. Essentially this means that they do not have to worry about factors like productivity, downtime, overtime, and extra charges for weekend/holiday/overflow transcription.
Cost control and improved cash flow: Not only does outsourcing medical transcription restrict cost to cost per line of transcription, it also cuts down the cost per line substantially by as much as 40% to 60%. The other benefit of outsourcing medical transcription is that the due to the speedy creation of patient records the process of reimbursement can also be speeded up, improving cash flow.
Security of patient records: Securing confidential patient records are one of the main concerns of healthcare facilities. This data is especially vulnerable during the medical transcription process. Outsourcing medical transcription ensures to the right service provider ensures that the patient records are protected by adequate measures in terms of people, processes and technology
It can be concluded that outsourcing medical transcription has a synergic effect by allowing healthcare facilities to leverage on the skills and resources of the medical transcription service provider. To reap the maximum benefit out of the outsourcing exercise it is important to source the right service provider.
TransDyne, a leader in the outsourced medical transcription industry provides customized solutions to the medical transcription needs of healthcare facilities. TransDyne offers quality medical transcription at reasonable prices, done by expert medical transcriptionists with a very quick turnaround time executed through secure HIPAA and HITECH compliant channels, with very high levels of accuracy and all this with technology that is advanced but easy to use!
To avail medical transcription services from TransDyne, click here.
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