The process of healthcare has evolved into a complex business requiring the efforts of the management, administrative; information technology and other non- healthcare related personnel to ensure that the healthcare facility can provide quality care while still remaining profitable. Admittedly the main role in the provision of quality care is that of the healthcare professionals, but the other staff in the healthcare facility play a vital role in ensuring that healthcare professionals can concentrate on the process of providing quality care by ensuring all other functions are taken care of.
Similarly the process of healthcare draws inputs from various sources; some related to the healthcare field and some from other aspects that involve the business side of healthcare. To be effective and to function profitably in today's competitive environment it is important to have good support for the smooth running the healthcare facility. Information regarding the process of care is one such aspect that plays a vital role in several aspects of healthcare including risk management and revenue management.
Medical transcription is the process of creating patient medical records from the audio of the healthcare professionals' encounter with patients. Though essentially this is the service provided by medical transcription, the process of rendering these services is much more complex involving significant investment of time, capital and resources to be effective and meet all the quality criteria. A good fix to ensure that patient medical records are created in a professional manner, meeting all the quality criteria is to outsource the entire medical transcription process to a professional medical transcription service provider.
Outsourcing medical transcription to a professional medical transcription service provider ensures that patient medical records are created accurately, delivered on a timely basis, transmitted through secure channels and using technology that provides multiple benefits while still being easy to use. Not only this outsourcing medical transcription effectively results in cost savings as high as 40%-50% and also acts as a catalyst in quickening the revenue cycle.
To put it in a nutshell, outsourced medical transcription services can help foster business transformation.
What is business transformation and how do outsourced medical transcription services aid in business transformation?
Business transformation has been defined as a key executive management initiative that attempts to align people, process and technology initiatives of an organization more closely with the business strategy and vision of the organization. This is done by aligning resources towards desired outcomes such as increased revenue and increased customer satisfaction.
Medical transcription services can help foster business transformation by providing services that help in achieving the desired outcome:
- Increased revenue: Outsourced medical transcription services help in this aspect by providing services that help in the following areas:
- Help healthcare professionals concentrate on providing quality care: Outsourced medical transcription service providers help healthcare professionals retain the preferred and familiar method of documenting the patient encounter of dictation to transcription using familiar modes of dictation. This helps the healthcare professionals optimize their limited time and maximize their productivity resulting in better revenue.
- Reduce costs: Outsourcing medical transcription also helps healthcare facilities save as much as 40% to 50% on cost of medical transcription. Outsourcing medical transcription also ensures that the fixed costs of having medical transcription in-house are essentially transformed to variable costs
- Reduce overheads: Outsourcing medical transcription ensures that overheads incurred towards in-house medical transcription like real estate, equipment, information technology can be redirected to the core business of providing healthcare.
- Quicken reimbursements: Outsourcing medical transcription ensures that patient medical records are created on time and this helps in accelerating reimbursements as patient medical records provide the base for coding and billing.
- EMR/ EHR adoption: Outsourced medical transcription services also enable the healthcare facility to adopt EMR/EHR by enabling transmission of data using HL7 interface. Outsourced medical transcription service providers also provide editing and proofreading services for front-end speech recognition software transcripts.
- Customer satisfaction: The provision of quality healthcare requires quality information, outsourced medical transcription services enable this by providing services that include:
- Accuracy: Outsourced medical transcription service providers ensure that the information in the patient medical records is captured with maximum accuracy using a quality assurance process that involves multiple levels. Creation of patient medical records through the process of medical transcription also helps preserve the narrative portion of the patient medical record which is an important component for quality care and risk management
- HIPAA / HITECH compliance: Outsourced medical transcription service providers provide HIPAA compliant services, which is essential to preserve the sanctity of the patient- healthcare professional relationship.
- Increased focus on patient: By enabling healthcare professionals to document the patient encounter using the familiar method of dictation- transcription instead of using point and click templates, outsourced medical transcription service providers help the healthcare professionals focus on the patient rather than the documentation process resulting in better customer satisfaction.
It can be seen that choosing the right medical transcription service provider can help foster business transformation.
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 total medical transcription solutions with an inherent understanding of the working life of healthcare professionals and the operations of healthcare facilities. The medical transcription solutions provided by TransDyne help foster business transformation.
TransDyne offers quality medical transcription at reasonable prices, executed by experienced and qualified 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!
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