Medical Transcription Companies - Challenges Ahead

An improved health protection system is regarded as a growth stimulant all over the world. It plays the role of a catalyst for the overall social development, like improving education, productivity of people and generating a congenial environment for further investment. Complementing the countries in this effort is the ever-increasing growth of the medical transcription companies. Today the task before these companies is to make transcription more secure besides providing client focused services. In an ever-changing environment of rising population and changing lifestyles, demand of healthcare organizations with fast changing technologies pose a real challenge to medical transcription companies. How well physicians and hospitals across nations appreciate the services of these companies and what does future hold for this industry are questions generally echoed in the medical transcription circles.

Quality concerns

The demand for improved levels of quality in medical transcription is always growing. AHDI's standard code of practices takes care of the quality norms of medical transcription companies to a large extent. But is it sufficient in today's environment particularly when the medical transcription industry is evolving? How relevant are physician's requirements and technological changes and how fast the industry is going to absorb these changes? It can overcome these issues successfully only if it is able to deliver the patient documentation accurately and be responsive to the concerns of its clients. Accurate documentation drives revenue cycle management too. That calls for readiness on the part of the industry to structure its transcription services according to technological changes and physician's requirements – after all, end users are better judges for quality of what they require.

Outsourcing practices

For the U.S. Medical transcription industry offshoring is not something new. Still, several physicians and hospitals have reservations over offshoring their medical records – a major reason why several American MTSOs dominate this space and sub-contract the transcription assignments to their offshore units. Illustratively in India, nearly 70 per cent of offshoring revenue is generated by the sub-contracting units of these MTSOs. According to reports more than 40 per cent of transcription job is outsourced to U.S. MTSOs and a meager five per cent is shared with low cost destinations like India.

Technological impediments

Offshore companies particularly the smaller ones are not in a position to acquire new technology on an ongoing basis due to the nature of their contractual status and low workflow levels. Then there are strains due to shortage of trained manpower and the sluggishness in adapting to the frequent changes in technology like speech recognition practices and EHR technology.

Cost factor

For offshore companies opportunity of outsourcing does not translate into revenues as many of them are dependent on MTSOs for sub-contract work. Healthcare service providers to look for avenues to reduce expenses and consider medical transcription as a cost center. These factors tear into an already thin operating margin of these companies. However there are many companies who operate on their own without being the sub-contracted agents of the American MTSOs. This enables them to focus on the requirements of the end clients and deliver their services with dignity and at higher profitability.

Bracing up

With proper identification of the changing phases of medical industry coupled with training of transcription professionals with a firm resolve to offer customized services without compromising on quality standards, would certainly help Medical transcription services to brave the challenges thrown on the providers.

About the Author

Acroseas is a global provider of Transcription services & has been providing top-of-the-line transcriptions services to our clients worldwide. For more info - please log onto www.acroseas.com

Medical transcription services maintain good quality

Medical transcription services are in great demand today due to its growing need and demand in the health care and medical industry. It is something that every individual in the medical field looks at with a great relief since it is one of the most crucial jobs in the medical field and with the transcription firms taking up these jobs; it becomes simpler for medical professionals to simply concentrate more on their patients and not worry about managing transcriptions. These transcription firms are extremely reliable and once people hand over their transcriptions to any such firm, they can be rest assured that they will have the best transcription in hand without any mistake at all.

Medical services outsourcing has become very common as a number of firms abroad also understand that Indian transcription firms provide the best quality transcriptions and to make sure that they get the benefit of the same, they outsource their work to Indian transcription firms. Also, this is extremely beneficial to them in the monetary sense as well because transcription firms in India provide services at extremely affordable rates and owing to the difference in the currency rates of different countries, these firms abroad get their jobs done at cheaper rates. This is found to be extremely lucrative as they get the best service at affordable prices, inspiring many of them to outsource their work to India.

Medical services outsourcing is extremely dependable since they provide the best services and deliver the projects on time as well. They understand that they are handling one of the most crucial jobs in the industry and see to it that they do it extremely well. They are aware of the facts that in an industry like this, where there is a lot of competition, it is only good client relations that help you create a strong foothold in the industry and they strive hard to achieve the same.

Medical transcription services are provided by the best of professionals who are highly trained and certified to handle transcriptions and have a lot of experience in this field too. They are very particular about providing only the best and provide nothing but the best quality to their clients.

About the Author

Acroseas is a global provider of Transcription services & has been providing top-of-the-line transcriptions services to our clients worldwide. For more info - please log onto www.acroseas.com

Medical transcription services is not expensive

Medical transcription services have become extremely essential today with the medical and health care industry trying to provide the best possible services to their patients. They make sure that their patients receive complete treatment and make sure that all this is recorded carefully in the transcriptions. This gives them a medical record and history to fall back on for future use which becomes extremely necessary. Outsourcing these transcriptions to transcription firms is extremely beneficial since it takes a huge load off the medical professionals as they do not have to look into transcriptions, which in itself is an extremely taxing job and provide the best healthcare facility to their patients too.

Medical transcription services are provided by numerous transcription firms and all of these make sure that the quality of services remains up to the mark, no matter what. There are a couple of transcription firms that are big while the others are small. However, one shouldn't judge a firm by its size since all these firms ensure that the quality they provide doesn't falter as their client satisfaction is most important to them. Depending on one's requirement, they can check the various transcription firms out and choose one that suits their needs best.

Medical transcription services are not extremely expensive. This is mostly because of the growing competition that this sector is seeing today. Due to the benefits and the monetary rewards this industry provides, a number of people have started their transcription firms and thus the clients have numerous options to choose from. So if one transcription firm quotes extremely high rates, the client will simply stop taking services from that firm and move on to another firm that offers the same services at lower rates. To avoid losing clients and to get more clients most of the transcription firms quote extremely affordable rates benefitting the clients.

Those offering Medical transcription services understand that with the huge competition they face the only thing that will benefit them and enable them to carve a niche for themselves is making good connections with their clients by offering the best possible services. This is an industry in which good rapport with existing clients will bring in more business and these firms do exactly that.

About the Author

Acroseas is a global provider of Transcription services & has been providing top-of-the-line transcriptions services to our clients worldwide. For more info - please log onto www.acroseas.com