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 medical transcription could be in the following areas:

·       Computer systems for transcribing including monitors, headsets, foot pedals, keyboards etc.

·       Software for the transcription systems

·       Server for centrally uploading dictation files and downloading finished transcripts

·       Furniture used by in-house medical transcriptionists

·       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 medical transcription needs. This then shifts the onus of major capital investment on to the medical transcription company. 

But the decision to outsource medical transcription needs should not be taken lightly, and one needs to carefully evaluate the medical transcription service provider in terms of:

·       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.

·       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 Company being outsourced to should be HIPAA compliant. The Medical Transcription Company 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

Above all the Medical Transcription Company should offer services to take care of all the Medical Transcription needs without involving any additional investments on the healthcare facility’s part.

TransDyne not only offers Medical Transcription with accuracy of above 99%, with a 24-hour turnaround time, at fair prices and with Data security that will match and exceed industry standards, but also offers advantages like:

·       Reduced work on filing documents and tracking dictations.

·       Eliminating scope for missing documents.

·       No additional investment in Hardware or software.

·       Configuration for multi provider, multi user and multi location setting.

·       Upgrades without any change to the client’s computer

Outsourcing Medical Transcription to TransDyne not only reduces capital investment budget and eliminates the cost of repairs, maintenance and up gradation of equipments but would also help the healthcare facility improve patient care.

To avail medical transcription services from TransDyne, click here.