6 Interesting Facts & Benefits of Medical Transcription Services Outsourcing

Medical Transcription Services
Medical transcription services, MTS, is a unified healthcare profession where the voice-recorded medical reports dictated by physicians, nurses and other healthcare practitioners are transcribed. Medical reports can be voice files, lecture notes, or other verbal material.                   

Benefits of Using Medical Transcription Services:
Hospitals & medical centres deal with a lot of data every day, which is highly crucial & confidential as well. For eg patient’s history, treatment, medical reports etc. Illegible writing and incorrectly deciphered content are the most costly and disastrous mistakes which the healthcare industry must avoid. In the healthcare sector, mistakes that seem quite simple often might lead to physician termination or licence cancellation. Today, with proper medical transcription and electronic filing services, doctors/hospitals can use correct medical documentation and prevent costly errors. Further, outsourcing MTS to quality and a trusted service provider will make the job easy and 100% error-free for the hospitals and medical institutes or centres.

Let’s have a look at what are the benefits of using Medical Transcription Services.

  • Makes charting easy
  • High accuracy
  • Time and effort saving
  • Cost saving
  • Faster claims processing

Benefits of Medical Transcription Services Outsourcing:
There is a myriad of benefits in outsourcing MTS to a quality service provider. Today let’s have a quick glimpse of 6 Interesting Facts & Benefits of Medical Transcription Services Outsourcing. 

1. Increased Workflow and Productivity:
Effective workflow is imperative for customer satisfaction and is also considered as a tool for improving productivity. Workflow and Productivity are the two basic decisions that have a direct impact on a medical transcriptionist performance.

Transcription service professionals and managers must consider numerous factors to maintain overall productivity.

  • Total time to completion
  • Additional time & resource demands
  • Accurate predictions of the layering
  • Amount of QA utilization per MT

Outsourcing medical transcription services can give your staff more time to spend with patients, and thus increase productivity. As less paperwork for your staff to complete equals more productivity time. When adequate time and attention is spent on giving direct patient care, more patients receive the quality time they deserve. Hence, outsourcing your MT can help improve your practice and enhance productivity at every level.

2. Save time and money:
Hospitals that want to survive the reforms and the economic slowdown have to opt for futuristic technologies and avant-garde processes to save both money and time. Cutting costs without sacrificing quality is a highly demanded outsourcing trend for 2020. 

Let’s check with the best cost-saving possibilities through effective outsourcing.

  • Low-cost human capital
  • Unused or unnecessary equipment
  • Redirected/Reduced Staff
  • Success through consistent smart outsourcing.

3. Competitive Pricing:
There are a vast number of companies that offer services at competitive prices. But, to choose the one from a list of competitors that deliver their promise is a huge challenge. Companies offer competitive pricing, because they’re specialized, and can leverage the cost benefits of scale. They have better explored the industry and are well experienced about the advantage of efficiencies such as offshoring, technology systems, and crowd sourcing work. Usually, strategic outsourcing can do it better for you than what a hospital transcriptionist can offer. Transcription companies can offer savings through lower per line rates, and labour costs. Further, they eliminate the need for HR, administrative, and training costs, and also help in saving on maintenance and equipment outlays.

4. Save on Resource Hiring & Training:
Today, hiring professionals or experts in dedicated fields is a tiresome job. And managing to keep them is another. Hiring & training tools and processes do make the work easy but are also very expensive. It is a huge cost on the medical infrastructure to initiate and maintain such costly processes. After all the investments, if the process fails to deliver the expected outcomes, then it might lead to economical crisis of the hospital. To be safe from all resource-related complexities, outsourcing medical transcription services is the only viable solution. By outsourcing MTS, not only hiring costs will be saved, but also you can achieve higher ROI & productivity at a relatively low price.

5. Complete Data Security & Confidentiality:
The Health Insurance Portability and Accountability Act, HIPAA is a law that was established in 1996 to ensure the security and confidentiality of patient health data are stored and maintained. For healthcare facilities to remain HIPAA compliant, certain privacy regulations are to be met and must implement secure electronic access to patient health data. Healthcare organizations that fail to comply with HIPAA standards may ruin their reputation, be forced to pay fines, and suffer from other severe penalties. Hence, outsourcing your MTS to a company that is well reputed and HIPAA compliant would be an excellent solution.

6. Accuracy, Expertise, and Equipment:
To achieve a high-quality medical transcription, you must have 

  • Full-time transcribers, 
  • Invest in specialist equipment & software, 
  • The right IT infrastructure for safe capture and storage. 

Your in-house expert transcribers might not be able to consistently achieve the same high-accuracy results as an outsourced transcription service does. To successfully outsource your medical transcription, all you’ll need is a voice recorder and a computer to upload the voice files. You’ll have access to transcription experts with rich knowledge and expertise in medical terminology and equipment, and you’ll be able to enjoy the same level of accuracy and high standards without the ongoing costs for maintaining your team – and usually only at a fraction of what it would cost to pay full-time employees.

Maple Software is an ISO 9001:2015 (Equivalent to CMM Level 3) certified company that offers tailor-made Software and Mobile application development services, Quality Assurance, Transcription services , Revenue cycle management, & IT Staffing services aiding clients’ performance in healthcare, judiciary, public safety, and retail organizations throughout North America, Europe, Asia and Australia.  

We have been providing high standard transcription solutions to the increasing number of hospitals and physicians. By giving prominence to needs, requirements and understanding the unique cultures of every healthcare organization we have been successful in improving efficiency and contain costs in an ever-changing healthcare market.

With Maple Software Medical Transcription Services, you can ensure

  • Maintenance of 99.5% consistent quality in every report.
  • Excellent track record in TAT maintenance
  • HIPAA compliance
  • Confidentiality of patient information is maintained

    Maple Software – A Most Trusted and Reliable Medical Transcription Service Provider.