Due to the dynamic and critical nature of the health industry, several hospitals and health care professionals prefer outsourcing medical transcription service to a third party. As per a survey conducted by Black Book nearly 63% of hospitals in the US outsourced transcription service in 2015, which is expected to grow over 70% as the ICD-10 deadline is approaching.

Technological advancement has had a tremendous impact on the ways businesses operate in the world today. Better communication channels and internet technology has facilitated a constant flow of information in a safe and secure manner. This sea of change has impacted the field of medical transcription as well, wherein several hospitals, individual physicians engage transcription service providers such as Eyered for the job.

Although outsourcing medical transcription has been around for a while, several hospitals and care centers are still new to this concept. For the sake of such entities, here are 5 reasons why outsourcing medical transcription online shall prove to be a boon for your healthcare practice.

# Let you focus on Core Competency –Patient Care

Patient care is the core competency as well as priority of any hospital or health care center. Hospitals are a very busy place, with constant flow of patient. There are endless reports, lab results, discharge summary, patient history etc.  Outsourcing the transcription of the paperwork will reduce effort and let you focus on patient handling and aftercare.

# Reduces administrative burden- Accuracy and Quick turnaround time

Managing transcription in-house not only entails hiring of trained transcriptionists for the job, but also taking the onus of accuracy and turnaround time.  On the other hand letting a third party handle your transcription needs will not only reduce administrative burden, it will also assure accuracy and quick delivery of work. Most agencies have a dedicated and highly trained transcriptionists and requisite infrastructure to support the transcription of large volumes of data.

 No need for software upgrade – Reduced IT Cost

Investing in medical transcription software for in-house usage is an expensive proposition. You will need a dedicated IT department up maintain and troubleshoot problems, in addition to the need to constantly upgrade the software. However, outsourcing medical transcription, the IT cost shall be significantly reduced. You no longer need to hire several IT resources, renew annual subscription of software or pay hefty server cost.

 Improves efficiency and workflow – Higher Accessibility & Distribution

One of the best outcomes of outsourcing medical transcription online is that it will improve efficiency and assist in patient care.  Since all transcribed data are transmitted digitally, hospital staff or individual physicians can access all information regarding their patient via a simple log-in.  The interface of such web-based applications is extremely user-friendly where you can view, search, edit and print reports within no time.  This increases efficiency and workflow and even allow accessibility and distribution of medical reports, lab results etc.

 Compliances – Meets HIPAA Requirement

Every transcription agency offers their service keeping in mind the HIPAA compliance.  All files are handled in such a manner that makes access to unauthorized data impossible. Patient data is handled with utmost care and can only be accessed with approved and secured key.

Over the years, the need for advanced medical transcription has grown by leaps and bounds; this is due to the fact that hospitals and emergency service providers are often short of staff and need to dedicate as many people as possible to care of for the sick. Therefore, often the best way forward is to outsource transcription requirements to an agency which is not only well-equipped but is dedicated solely to offering such services. Moreover, there are many benefits when it comes to outsourcing your medical transcription services. Let’s have a look.

THE SERVICES ARE SCALABLE

Maintaining an in-house staff for transcription can often result in inflated costs and unnecessary hassles. Therefore, many find outsourcing to be the most viable alternative to hiring additional staff in-house. Compared to an in-house team; outsourced services are scalable, meaning, as your demand increases it’s the agency’s responsibility to provide you with unhindered services. When you outsource, you have access to an army of transcriptionists. And the best part is that you only pay for the work that gets done; thus, saving you money in the long run.

SPECIALIZED SERVICES

There are times when you might need the services of a specialist and you might not necessarily have that kind of a person on your payroll. Moreover, if you decide to hire, chances are, once the work gets done, that person is going to sit idle till the time such a requirement arises in the future. This is again going to inflate your overall costs. Advanced medical transcription service providers offer you specialized services whenever needed at competitive rates, that way, you only pay for specialized services when you actually need them rather than having to pay someone just for the sake of having a specialist in-house.

TIMELY WELL MANAGED SERVICES

This is another reason why hospitals prefer us when they decide to outsource. We at Eyered have a streamlined process and there is nothing that you need to manage as we take care of everything. With a scalable taskforce at hand, we can dedicate as many or as less resources we deem fit to get the job done. All you need is to quote you requirement and we take care of the rest.

QUALITY CONTROL

Ensuring the overall quality of the transcripts can often get too cumbersome for hospitals already reeling under a staff crunch and with so many other things to take care of. However, the quality of the transcripts is not something you can ignore as they need to be 100% accurate. At Eyered, this is one of the core areas we concentrate on to provide you with reports that are accurate with a quick turnaround time. Our staff is well-trained and qualified to perform at its optimum regardless of the volume of work at hand.

Outsourcing your advanced medical transcription requirements yields better results compared to when you do it in-house. This is because, hospitals primary responsibility is to dedicate as many resources possible to caring for the sick and wounded; while worrying less about the paperwork. Moreover, they save almost 30% which would otherwise go into paying full-time salaries and other benefits should they decide to hire an in-house team of medical transcriptionists. Therefore, unless you absolutely need that extra manpower in-house, outsourcing is definitely the best way forward!

Medical transcription services work on transcribing medical reports that are dictated by doctors, nurses or any other healthcare professional. Usually, dictations are voice files which are either called in over the telephone or uploaded digitally through the Internet and smartphone applications.

In today’s technology-driven world, there are various electronic devices can be used to record audio files, like toll-free call-in voice servers, digital handheld recorder, iPhone App, etc. The provider dictates chart reviews, operations, office visits, emergency room visits, diagnostic imaging studies and final summary, which is then given to a transcriptionist who further types them.

To keep a check on the patient’s health, doctors, nurses, or other healthcare professionals dictate a note in digital audio format. After that, the medical transcriptionists transcribe dictations into a word document which is sent back to the physician electronically.

Upon receiving, physicians will review them and make changes, if required. After that, it stores it with the patient’s medical record.

Earlier, professionally skilled medical transcriptionists working in the medical records department had to transcribe medical records. However, over the years, there has been a change in the medical transcription. Now instead of having an assortment of handwritten notes for the record, this approach has gone digital. Nowadays more and more healthcare companies are shifting their base to electronic format. It means these patient reports are safely stored in the electronic database. Also, they are available for immediate access and retrieval 24×7.

Medical transcriptionist’s convert dictated audio files into transcribed medical transcription reports.  It’s not only conversion, but they also edit and format reports and safely transmit them back either in a printed or electronic format for the review of a physician. Medical transcriptionists have complete knowledge of medical terminology, and they work in accordance with the global standards.

Though a healthcare unit can do medical transcription in-house as well; there are several benefits of outsourcing it to a competent transcription provider:

1. Pay for services only when you need them

If you need medical transcription services occasionally, it is not a good idea to have an in-house staff to manage these tasks. If you compare the expenses of paying employee salaries with outsourcing medical transcription, you might find out that the latter option is much more cost-effective in the long run.

Alternatively, even if you need medical transcription services on a regular basis, outsourcing services to a reputed medical transcription service provider can still cut down your costs. Keep in mind that a competent medical transcription provider makes fewer text errors. In many cases, these errors can prove costly to your business in the form of expensive litigation.

Then some medical transcription providers will also work with your current employees to streamline the process. These service providers can help you by covering your employees’ vacation or sick time. They are always ready to meet your additional needs if any.

2. Cut down your expenditure on IT

Medical transcription involves advancing software and investment in the best hardware to enable listening and transcribing of calls with minimum errors. However, a healthcare facility doesn’t need to worry about such expenses when they outsource medical transcription.

3. Free from the responsibility for hiring and training employees

With medical transcription services, it becomes the responsibility of the service provider to hire and train medical transcriptionists. It means the HR work that would have been involved in identifying, interviewing and hiring medical transcriptionists is reduced.

Proper medical care is the right of every individual, and suitable medical transcription services can make it happen. Companies like Eyered, offer you medical transcription services for the different branches of healthcare, like cardiology, pathology, dental, etc. Don’t forget to go for a free trial before signing up for any medical transcription service provider.

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Medical transcription today is one of the most sought-after services and the demand for such services is at an all-time high. With the ratio of patient to doctors increasing over the years, and hospitals having to cope with a number of issues; hospitals are finding it much better to hire medical transcription solutions providers than going at it all by themselves. We at Eyered, are one of the industry leaders in transcription services and today we are going to explain the pros and cons of hiring a service like ours to having your own in-house team of transcriptionists.

Hiring is the Biggest Issue

Say you have an in-house team of transcriptionists and one of them decides to leave. It’s obvious that you are going to have to find a replacement; however, it’s often very difficult to immediately find a replacement since finding a good transcriptionist is difficult and it takes time. Now compare this to a professionally managed medical transcription service provider and you don’t have to ever worry about anyone quitting or finding a replacement.

Staff Going on Holiday

Everyone needs a break at some point in time and so will your team. Moreover, you will need to give them the statutory pay as legislated in your jurisdiction even if they are obviously not going to work during this period. Compare this to outsourcing and you don’t have to worry about stuff going on leave and you have to bear the costs.

Slow Periods Vs Busy Periods

Eventually, you will have to deal with either slow or busy periods and they are both going to prove difficult. This is because during slow periods the pay remains the same for the employee and this will result in increased costs. Busy periods will result in a high volume of work putting additional pressure on your staff; thereby likely resulting in a backlog.

When you outsource your requirement, no matter whether it’s a slow period or a busy period, you will only pay for the amount of work that gets done. Moreover, since industry leading transcription providers are solely dedicated to this craft, your work will not delay in times when additional workload pours in since they are well-equipped to handle such contingencies.

Editing and Backing up Documents

All the editing happens on-site when you have an in-house team and this can give a certain level of control on the final output; however, it’s time-consuming and can result in backlogs if repeated edits are required during busy periods. Moreover, you will need to invest in additional infrastructure to backup documents resulting in increased overhead costs. When you outsource, the editing happens off-site; however, the quality doesn’t suffer as it’s done according to your specifications. Moreover, you don’t need to invest in additional infrastructure to backup documents as it’s taken care by the firm handling your transcription.

If we look at it, the pros of outsourcing your requirements heavily outweigh that of having an in-house team of transcriptionists. Moreover, if you look at it, the overall savings over the years will be exponential since you will only be paying for the work that gets done. Medical transcription solutions help you not only save money but also offer competitive services that have a quick turnaround time and the quality is always at par with your expectations.

Typist, the right hand of any company! Every company needs the help of professionals to take down notes, dictations, and correspondence in a really quick time without making any errors. This may sound an easy task but can turn into a situation of chaos if not done in a tactful manner. Here comes the role of a professional typist, stenographer or a transcriptionist depending upon their field of specialty. A stenographer cannot work as a medical transcriptionist, and a general typist can be involved in many other assistant jobs apart from taking notes.

Typist: A profession that got modified with technological advancement

The Typist, a famous movie of the year 1971, revolved around the love story of two typists and showcased the working style and situation in the time when this profession was quite in demand. With time, this profession has undergone major upheavals but survived the storm to retain its demand till today. From a typing machine to laptop, the medium has changed but typists still type documents, correspondence, and take notes from senior professionals in the company to circulate their memorandum. They are like general transcriptionists who can create documents out of recordings or from written notes. Typists who can type 50 to 90 words per minute on a computer have great career opportunities as word processors and data entry professionals. For creating subtitles and captions out of audios and videos, typists can come in handy. When a specialization is required, typists give way to stenographers and transcriptionists who are experts in specific terminologies of respective fields.

Stenographers for instantaneous transcription services

In courtrooms and academic settings where the transcript is required immediately, stenographers come in the scene. They can either type in shorthand or work on regular computers depending upon the turnaround time provided. In the courtroom, they work as court reporters penning down every word that is uttered during the proceedings. This helps in keeping a record of the proceedings for future reference when more clarity is required. In a traditional setting the stenographers are required to be available in the courtroom to document the event, but with advancement in technology, they also have the option to work from remote places as a CART specialist. These are Communication Access Real-time Translation specialists who make the best use of communication technologies to be virtually present during the courtroom session. The work of court reporters has been simplified with the advent of specialized editing software. To note down and transcribe different types of oral proceedings, stenographers need to have exceptional comprehension ability that distinguishes them from others.

Medical transcriptionists for creating accurate medical reports

To survive and to succeed in the field of medical transcription, the transcriptionists need to have the required skill set needed to create different types of medical reports with high accuracy and efficiency. Medical transcriptionist companies look for professionals who have the knowledge of vast medical terminologies that doctors use during the dictation. Medical transcriptionists adopt different dictation processes depending upon the requirement of doctors. They can either take down dictation in person or make the use of handheld digital voice recorders to transcribe them into the text format. The Electronic Medical Records (EMR) system helps professionals in making the use of technology in taking down notes and managing the transcribed documents. Reputed medical transcriptionist companies get works outsourced from different medical professionals and health care companies for creating medical reports in the given turnaround time. With the help of experienced medical transcriptionists, these companies have taken away the burden of such doctors and medical professionals who find it difficult to manage documents with patient’s diagnosis details for future reference.

Along with medical transcriptionists, there are many other specialized transcriptionists in different fields like – academic transcriptionist, legal transcriptionist, financial transcriptionist, etc. These transcriptionists have detailed knowledge of their respective fields, and most of them also have diverse work experience in the specific arena. These transcriptionists work either as in-house employees or as freelancers by making use of technological updates in the field.

It’s the better comprehension ability of typists, stenographers and transcriptionist that make them the need of the time even when technology is ready to overpower their task. To rely completely on technology, which gives little scope for understanding different accents and styles of speakers, is not a wise choice. Any video or audio recording needs to be transcribed to be easily accessible in all forms. These typing and comprehension experts will be in need even in future to transcribe and to manage written documents from various streams and sectors.