Benefits of Outsourcing Medical Transcription Services

outsourcing medical transcription services
December 23, 2016

Posted by MedbillingExperts / 0 Comment

Did you know that nearly half of all medical transcription duties are now outsourced? And as per experts this trend will continue to grow and reach new heights in the future. Some of the main reasons for the unprecedented growth of this trend are as follows-

Frees Up Your Resources to Focus on Your Core Functions

Whatever be the size of your practice, it is always beneficial to carry out focused allocation of resources, rather than scattering them across a range of non-core functions. That is what outsourcing offers to you.

By hiring an outsourced company to carry out your transcription job, you are essentially freeing up resources that can be reallocated to concentrate on your core business activities such as providing better quality care or expanding your business. This is particularly helpful for smaller and medium sized practices that work on strict overhead constraints and tighter margins.

Saves Overhead Costs

Along with freeing up time and resources, outsourcing can be very friendly on overhead costs. If you calculate the cost of maintaining an in-house medical transcription team, it would probably cost you 40% to 60% higher when compared to outsourcing. Also there won’t be the burden of paying staff salaries, managing the cost of recruitment or investing heavily in quality control mechanisms, IT support and more, which can run in hundreds or thousands of dollars depending on the size of your company.

Provides Competitive Pricing

Outsourced transcription companies can leverage the cost benefits of scale and offer competitive prices. And unlike your in-house team, they are better placed to take advantage of latest trends such as offshoring and crowdsourcing along with the other technological advancements in the industry. All this will mean that they offer services at a much cheaper price than what you can do internally.

Offers Unparalleled Level of Scalability

Transcription volumes are not constant all the times. This means that you are underusing your internal resources during low demand and overtaxing them in peak times. The only way you can overcome this crucial flaw is by outsourcing.

Outsourcing services offer scalability by allowing you to make payments on the basis of volume and demand. You can essentially pay by the number of minutes or number of lines and receive the same turnaround times regardless of your volume.

Provides 99.99% Accuracy

By outsourcing, all you need to do is record the dictation on a voice recorder and send it across to the service provider by uploading the voice files via a computer. A group of medical transcription experts on the other end will leverage their experience and expertise to transcribe the recordings. Once the initial transcription is done, the document goes through several rounds of proofreading and quality checks, before it is delivered at your doorsteps.

Provides Strict Adherence to Timeliness

Sometimes you will need patient records transcribed during odd hours or public holidays. And at this time you can’t rely on an in-house team who are only available during regular shifts to get the job done. The only way out for you in this situation is by outsourcing. Leveraging time-zone differences or by having staff who work on different shifts, outsourced transcription companies gets the work done in a timely manner even during weekends or on holidays.

How We Can Help?

If you think that outsourcing transcription services is right for your business don’t hesitate to contact us. Leveraging our extensive experience in the industry we offer customized transcription services to address your specific needs. By using the right mix of through knowledge, experience and state-of-the-art technology we offer seamless and worry-free transcription service within record turnaround time.

Contact us immediately and outsource your medical transcription requirements.

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