The primary goal of a healthcare facility, no matter how big or small is to deliver quality healthcare, profitably. To provide quality healthcare, healthcare facilities depend on a lot inputs like the right manpower- qualified, experienced, skilled healthcare professionals and support staff, the right equipment – laboratories, scanners, surgical equipments etc and information. Information in case of the healthcare process is available in the form of patient records. To be profitable, a healthcare facility needs to concentrate on reducing cost and quickening the cash flow, by accelerating the reimbursement process.
Medical transcription is the process by which patient records are created by transcribing the audio records of the patient-healthcare professional encounter into text format. However medical transcription requires inputs like capital investment in transcription equipment, training, allocation of real estate, use of information technology resources and other valuable resources.
Outsourcing medical transcription is an effective, efficient and economic fix for creation of patient records, thus helping in providing quality healthcare. Not only this medical transcription also helps in achieving the other goals of the healthcare facility by reducing costs and accelerating the receivables cycle.
How does outsourcing medical transcription help healthcare facilities achieve their goals of providing healthcare profitably?
Providing quality healthcare: Outsourcing medical transcription contributes to the achievement of this goal through the following means:
1. Maintaining accuracy: Outsourcing medical transcription ensures that expertly trained medical transcriptionists create the patient records, thus capturing complete and accurate information that can aid the healthcare professional in the treatment process. Accuracy is maintained by medical transcriptionists who are not only well trained to be familiar with the language of the specialty they are transcribing, but are also updated constantly with the latest developments in the specialty. Moreover the finished transcripts are transmitted to the healthcare professionals only after undergoing a stringent quality check to ensure errors are minimized.
2. Maintaining turnaround time: For healthcare professionals to take the right decisions regarding the treatment plan for the patient it is important that not only should the information be captured accurately, but also be available on time. Outsourcing medical transcription ensures that tight turnaround times are maintained using the right people, the right processes and the right technology.
3. Using technology: Outsourcing medical transcription can make tracing patient records easier to retrieve when required through powerful archiving facilities. This can be invaluable to healthcare professionals during the treatment process.
Profitability: Outsourcing medical transcription contributes to the achievement of this goal through the following means:
1. Reducing costs: Outsourcing medical transcription ensures that healthcare facilities benefit by way of enormous cost savings in transcription costs. Outsourcing medical transcription helps reduce cost by the service provider using a verifiable, measurable, definable, consistent, fair and honest billing method. Healthcare facilities also benefit from the economies of scale that come about due to the experience of the medical transcription service provider and the best practices established by the service provider.
2. Restricting cost: Outsourcing medical transcription not only ensures substantial reduction in the cost of medical transcription, it also restricts the cost of transcription to the cost per line, eliminating all indirect costs and overheads.
3. Quickening the receivables cycle: Medical transcription is the first step in the receivables cycle providing the basis for coding and billing leading to claims and reimbursement. Outsourcing medical transcription ensures that patient records are created on time, thus laying the foundation for a quicker receivables cycle.
Outsourcing medical transcription to the right medical transcription company can not only help in creation of quality patient records, but also help healthcare facilities achieve their goals.
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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