As patient medical records are the basis for managing the revenue cycle the importance of healthcare documentation is magnified. Medical transcription – the process of converting the dictation of healthcare professionals regarding the patient encounter has been found to be one of the most efficient ways of creating patient medical records. Given the pressures of running a healthcare facility efficiently, outsourcing the medical transcription has been found to be an efficient and economical option.
Outsourcing medical transcription not only helps save on costs but also helps optimize the revenue cycle
How do medical transcription services help optimize the revenue cycle?
Detailed records: Complete and comprehensive documentation of the patient encounter has a vital role to play in the reimbursement process. Medical transcription companies aid in this process by ensuring proper and complete documentation of the care process using skilled medical transcriptionists and rigorous processes to create legible and accurate patient medical records. This forms the base for coding and billing leading to reimbursement
Timely creation of records: Another factor that medical transcription companies help in the reimbursement cycle is by expediting the process. Medical transcription companies ensure that transcription takes place as quickly as possible using a combination of skilled medical transcriptionists and the right process and transmitted back to the healthcare facility in a speedy and secure manner using the right technology
Reducing cost of transcription: Medical transcription companies not only actively aid in accelerating the reimbursement process but they also help reduce cost of transcription by limiting it to the actual usage and thereby contribute to indirectly to increasing revenues.
Minimizing overhead cost for medical transcription : Outsourcing medical transcription ensures that all the indirect costs incurred due to in-house transcription like the cost of real estate, cost of utilities, cost of management resources etc used for transcription are eliminated and can be used for developing the core business of the healthcare facility.
Enabling easy support for EMR/ EHR adoption: Apart from providing support for accelerating reimbursements and savings on cost of transcription, medical transcription companies also aid in the adoption for EMR/ EHR contributing to better revenue management. Some of the support services provided by medical transcription companies towards this end are:
- Editing and proofreading services for speech recognition software
- HL7 interface
- Structured dictation
- Structured transcription
- Discrete reportable transcription
It can be concluded outsourcing medical transcription to a professional medical transcription company helps optimize the revenue cycle.
TransDyne, a leader in the outsourced medical transcription industry has used their extensive background in information technology and their experience in serving the needs of the healthcare sector to provide affordable and integrated medical transcription solutions.
Among the software and tools offered by TransDyne for transcription, the smart delivery system has a large role to play in easing the path to EMR/EHR adoption The Smart Delivery system, which has features like User defined folder paths to enable easy imports to EMR systems is the suggested mode of document delivery where pre-defined file saving would help import documents to EMR systems. Apart from this TransDyne also offers discounted rates for those healthcare facilities that provide demographic data entered in the EMR rather than through other modes.
Along with medical transcription services involving multiple level quality checks to ensure accuracy, the use of the right technology for ease of use, turnaround time and security, at reasonable rates, TransDyne also provides discrete reportable transcription for adoption of EMR/ EHR
To avail complete medical transcription services from TransDyne, click here.
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