Posts Tagged ‘transcription services’

Medical Transcription Outsourcing – Effective Solutions

Healthcare sector has taken steps to improve its quality of life and death improving services by making it target oriented as other businesses and made it more customer centric. It is essential that they concentrate on their core activities of providing quality health life to society and outsource its support activities to organizations providing professional services in the industry.

Thus by allocating limited resources on non-core activities, heathcare services would be able to focus on improving its services.

In order to provide quality healthcare services, it is essential to draw inputs from numerous sources to complete the process. One important input contributing to healthcare process is information captured in patient records. Medical transcription is creating medical records of patients by transcribing audio files into text format. Patient records play an important role in providing continued care to patients as well as are essential in the process of reimbursement.

Medical transcription requires right combination of processes and technology and skilled manpower, in producing timely, accurate cost effective and secure services. To meet the desired standards, healthcare facility has to allocate its resources in monetary investment, skilled work force and time to its processes.

Effective solution to fulfill documentation needs of healthcare facilities is outsourcing medical transcription which maintains excellent quality and security standards. This helps in reduction of direct as well as indirect expense in the process.

How outsourcing medical transcription services are preferred?
Outsourcing medical transcription services is preferred because of benefits associated with it. It is opted because of following reasons:

Medical Transcription as a Home Business

The medical transcription industry continues to grow. As the need for individuals in this field keeps growing, the options for working at home also grow.

Starting a medical transcription home business is a good area to start in if you would like to work at home and receive the same pay you would if you were in the office. There are a couple of ways to work in your home-based MT business. One way is to find a traditional employer who gives you all the benefits of working in-house, but who allows you to do this from home. This is more likely to happen if you have worked for this employer in an office already. Another way to set up a medical transcription business is to accept clients through advertising. This would be a freelance MT business.

If you are going to start your own business, remember that it might take some time getting clients. Don’t forget that you are not limited in location. You may be able to find clients for your medical transcription business through the internet. As demand increases, the needs for your services will increase.

Though you want to charge the going rate for medical transcription, working from home allows you to be flexible with fees. You can charge somewhat higher than somebody working in an office because your client does not have to pay for insurance or a pension for you. Working in your own home business also allows you to set your own hours. If you want to work full time, you can. If you want part-time hours, this is not a problem. If you want vacation time, just be sure you don’t accept work that will not get done before you go.

If you like to be there to take your children to school and pick them up afterwards, a medical transcription business is a good option. It will pay more than most work-at-home jobs but offer all the benefits of being at home. You don’t have to worry about the commute or the parking. With a medical transcription business, you can work in the morning or, if you are a night owl, work in the evening.

Many people prefer to work from home. Few can actually make a living this way. Medical transcriptionists are among these few, and opportunities are expected to grow in the coming years.

If you are interested in a job that allows you the flexibility to stay home, consider a medical transcription business. It is one of your best options for working from home.

The Flexibility of Medical Transcription

One of the great things about a career in medical transcription is that almost anyone can set up an office to handle the duties of a medical transcriptionist or a medical transcription service. Even the office requirements are fairly generic, meaning this has the potential for a home-based business.

A computer and Internet connection are probably your biggest needs for medical transcription, though technology has truly come a long way in this field. More than ever, there are products that can help you along this path, making your work easier and aiding in your speed and accuracy.

If you know little about medical transcriptions, you may have the idea that a doctor or other health care professional records information on a tape recorder and the medical transcriptionist simply writes whatever is recorded. Digital recordings have greatly aided the medical transcription industry. No longer is there a need to deal with scratchy tapes and poor sound quality.

The industry is also making it easy to make dictation easy for your clients. You don’t even have to have the physical recording device used by the health care professionals in your hand. There are several options for telephone recording. You can set up a recorder especially designed for medical transcription on your own telephone line and have your clients call in their dictations. These systems are secure and easy to use for both you and the client. And once you have the dictations onto your personal recording machine, you can choose what to do with the information. You can route it to another destination (your computer dictation software, for example) or transcribe directly from the recorder.

Many of the recorders come with easy controls so that you can start, stop, pause, fast forward or replay segments of the recording using your feet or voice. This leaves your hands free to do their typing.

There are also several types of software available that will help you do your job more efficiently. It won’t take long to figure out that Microsoft and other typing programs aren’t ideal for medical transcription. The terms and proper names – including drug names – are not likely to be recognized. Mistakes are also likely to fall through the failings of those systems. Using the programs especially designed for the medical transcription industry will allow you to more accurately evaluate your work.

With the technology and training available, you can see that it’s a fairly simple matter to become involved in this industry. Many people even do so from the comfort of their own homes. However, this isn’t the home business for the busy parent who wants to work a few hours during their toddler’s daily naptime. Most deadlines associated with medical transcription are fairly tight and there’s no room for error.

There’s no doubt that medical transcription isn’t for everyone, but it is an important part of the health care industry and one that provides a good living for those who choose to pursue this particular aspect.

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How Medical Transcription Service Providers Benefit Health Care Clinics And Ultimately Save Them Mon

Medical transcriptions services are becoming more and more popular amongst health care clinics around the world. This is because not only is the traditional system of storing medical reports inefficient time consuming, but also because hiring medical transcription providers can help save money in the long run.
Main Benefits
Traditionally, all patient records have been kept on paper and filed away in cabinets. The biggest problem with this system is accessing these records quickly and efficiently. Especially in life threatening situations, any delay in accessing complete patient records can prove fatal. Using medical transcription services can ensure that all medical records are easily and quickly accessible, thereby ensuring that there is no delay in addressing an emergency.
Save on Storage
As you can imagine, storing paper records can take up a lot of storage space. Health care centers were forced to invest in larger and larger spaces just to store old records. In the long run, this can lead to a huge and consistent drain on financial resources. However, using a medical transcription service provider can ensure that no financial resources are wasted on storing records. Also, it ensures that all available space you have is efficiently used for the purpose of providing health care.
Save on Billing and Insurance Disputes
One of the biggest drains on financial resources for a health care center is unresolved billing and insurance disputes. And these are far from being uncommon. Papers can be lost or misfiled and this can easily cause a dispute leading to loss of revenue. Such situations can be averted by using the services of medical transcription providers. All records are immaculately kept on a digital medium, ensuring that there is no cause for a billing or an insurance dispute to arise.

Medical transcription Outsourcing- Outsource is the Best

Are you one of those who are still doing medical transcription in house??

Well, in that case it would be advisable that you outsource the medical transcription work as a lot of tedious work would be reduced for you, and you would be able to concentrate more on your patients.

As many times because of the transcription work being done in house, the average wait time of each patient increases. Patients will always like to be treated quickly and receive all the required attention from the doctors. Outsourcing makes it much easier for the doctors and the patients, also turn up to be more satisfied.

Outsourcing makes many things more convenient for the doctor and patients as well.

Medical Transcription Outsourcing also proves to be very cost effective to the doctors, physicians, clinics and hospitals, as they don’t have to invest on the labor and other expenses.

Due to the technological advancements the cost on warehouse is also reduced as doctors have an access to the medical transcribed reports on-line which is more convenient and quick to access.

Medical Transcription Outsourcing also helps to reduce time and effort in maintaining the staff, and other issues related to the staff. The medical transcription really has a good team, where all are really experts and have a good experience in transcribing the reports. Patient’s confidentiality is also given importance and is taken good care by the transcription firm.

Medical Transcription Outsourcing is mainly outsourced in developing countries like India as India is one of the countries that have a huge population, which is very efficient and fluent in the English language. Moreover medical transcription work when outsourced to India it is much more cost efficient for the developed countries.

Medical transcription work when outsourced also helps to reduce cost on various other things that the doctors or hospitals would have to pay. So to be cost effective it is advisable that you go ahead and look for a good transcription partner.

The transcription partner would be a great help and support for many medical transcription firms along with transcription work can also help you with medical coding and medical billing, so a lot of work pressure can be reduced, by simply having a nice transcription partner.

Affordable Medical Transcription Service

An increase in the demand for medical transcription has led to a corresponding increase in the number of service providers offering affordable medical transcription services. These medical transcription companies are a great help to individual physicians, outpatient clinics, group practitioners, hospitals and healthcare centers. They guarantee excellent transcription services with unique, reliable and complete solutions ranging from dictation capture to document distribution and storage.

High Accuracy Rates and Minimum Turnaround

Reputable medical transcription companies keep trained and experienced transcribers providing services to a number of specialties including orthopedics, gastroenterology, radiology, cardiology and more. One of the major advantages of medical transcription companies is that they provide digitalized documentation service converting voice recorded files into text format. Ensuring perfect accuracy in transcription services, these companies maintain in-house proofreaders, quality analysts and editors to give clients three levels of quality assurance. Besides ensuring 99% accuracy rates, the recognized medical transcription companies complete all projects within minimum turnaround time.

Ensured Confidentiality and Privacy

Medical transcription companies are perfectly optimized with advanced technological devices to meet various demands of the healthcare industry. They use convenient dictation methods for a total medical transcription solution. Most of the companies offer web-based transcription service providing various advantages to the clients. In addition to this, medical transcription companies provide toll free numbers making it easy for physicians to convey dictations using telephones.

When planning to outsource your medical transcription jobs, it is important to verify whether the affordable medical transcription service is HIPAA compliant. HIPAA compliant companies guarantee high confidentiality and privacy in their services following various rules and regulations of the Health Insurance Portability and Accountability Act.

Popular medical transcription companies provide affordable and secure medical transcription service using the latest document flow management software and advanced digital systems. Depending on the requirements of the clients they provide short term and long term services.

MTS Transcription Services (MTS) is one of the leading medical transcription companies in the US providing affordable medical transcription services to hospitals, private practices, health centers, physicians and medical consultants in California.

Medical Transcription Factoring Case Study

Launching a New Company
In May 2009, Terri Davis started Clear Choice Transcription, a diverse transcription company specializing in the medical field. Having spent 13 and a half years in the industry, Davis knew she would need help managing cash flow to meet payroll and keep vendors happy until the client payments started coming in. She also knew standard financing was not an option. This is when she decided to look into special medical transcription factoring.

“When we launched, our largest client was giving us overflow work only, and some of the smaller clients who were paying very quickly were not enough to fund payroll for future growth. Similar to other business owners in this industry, I did not have a lot of tangible assets to offer a bank as collateral. That’s a good thing in that there’s not a lot you need to purchase, but it made it very difficult to get standard financing,” says Davis.

A Flexible Factoring Lender
Clear Choice Transcription’s flexibility in working with their customers gives them the ability to work with different size medical practices, as well as clinics and hospitals. Clear Choice offers differing pricing structures and domestic and overseas transcription options, works within varying Electronic Medical Record (EMR) programs, and with different dictation styles and templates. And so they appreciated a lender who was flexible working with them.
That flexibility, and expertise, is what sold Davis on PRN Funding, even though they considered other funding partners.

“They were very knowledgeable in the medical transcription industry, and the information I received was very impressive. From the very beginning, they worked with me whenever we needed something a little different. For instance, we had to break a large client’s invoice down into different parts due to issues with the client’s billing system. Instead of simply saying no, PRN Funding immediately presented a very easy factoring solution and it worked out very well,” she says. “And I genuinely like the people at PRN Funding. Their response time is great and they made me feel we were on the right track in partnering with them.”

PRN has an intimate knowledge of the medical transcription industry that helps them help their clients.

“We’re unique in the medical transcription factoring industry in that before I started PRN Funding I worked for the nation’s largest medical transcription company,” says founder Phil Cohen. “So I know the industry inside and out and we have a good number of clients in the space. Having worked in the industry for such a long time, my account managers and I bring a lot of expertise to the table.”

Stabilizing Cash Flow
“In this business, as I am sure with most, without cash flow you’re dead in the water. You can’t pay your people, you can’t move forward, and growth is most times impossible,” Davis says.

Medical transcription financing was a great option for Clear Choice Transcription, allowing Davis to bring in the people she needed in order to take on more work while continuing to meet payroll obligations.”

Terri’s largest client was having some issues with their accounts payable system, getting invoices processed, and there were invoices that were aging out past 60 days,” Cohen recalls. “She was stressed about the fees involved with medical transcription funding, but it was nothing compared to the stress she would have felt if she wasn’t able to make payroll.”

Quadrupling Business Growth
Medical transcription factoring with PRN Funding gave Davis the stable cash flow she needed to quadruple Clear Choice billings in just a nine-month period.

“Thanks to PRN Funding, we had the cash flow we needed to bring in enough people to convert this very large client into a full service account, instead of just the overflow work we had been receiving. That was a huge growth for us. It also helped us bring on new clients, too,” Davis explains.

In the beginning Clear Choice had 25 medical transcriptionists in the U.S. and an offshore vendor. Today, they have 110 medical transcriptionists in the U.S. and about 150 on their offshore team. In a very short time frame, Clear Choice Medical Transcription had grown dramatically.

Value-Add: Peace of Mind
To Davis, knowing she has PRN Funding behind her gives her a secret weapon in the competition for new clients.

“It’s the security of having them there. If there’s a client we’re chasing after and their terms need to be extended to 45 or 60 days, knowing in the back of my mind that I have access to the cash flow immediately after invoicing gives me a very big bargaining chip with the prospect. It’s very helpful in bidding on new clients, to know that we can accommodate their needs without over-extending ourselves.”

As an ongoing PRN Funding client, Davis is excited about the future.

“In this industry, if you don’t have a huge bankroll in the beginning it’s very difficult to get started. We were lucky to find PRN Funding in the beginning, and I’m looking forward to continued growth,” Davis says.

Online Medical Transcription

Medical transcription, also known as MT, is the diligent process of converting a health care provider’s dictated notes in to accurate and readable data records or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals, into text format.

Medical Transcription is one of the fastest growing home-based professions in the country. Many companies offer medical transcription outsourcing in lower cost. The demand for qualified
medical transcriptionists continues to accelerate, creating unprecedented financial and career opportunities for individuals who have the skills to succeed in the fast paced environment of

medical transcription.Medical transcription ( MT ) can be performed by medical transcriptionists ( MT ‘s ) who are employees in a hospital or who work at home as telecommuting

employees for the hospital; by medical transcriptionists working as telecommuting employees or independent contractors for an outsourced service that performs the work off site under

contract to a hospital, clinic, physician group or other health care provider; or by medical transcriptionists working directly for the providers of service (doctors or their group practices) either on site or telecommuting as employees or contractors.

Major benefits of medical transcription outsourcing offers includes

* Excellent data privacy and security
* Complete compliance with HIPAA guidelines
* FTP and browser based 256 bit AES encryption protocol file transferring
* Swift turnaround time
* Better quality assurance at three levels
* Digital and toll free number dictation methods
* Continuous technical assistance and customer support
* HIPAA compliance

Medical Transcription Companies provide radiology transcription in the imaging center and Teleradiology environment. They also offer services to teleradiology clients and preparing orders
and images for the radiologists.The main aim of the Medical Transcription and Medical Transcription Companies is to effectively communicate with clients to facilitate smooth operations and efficient turnaround times. The serivces are also cost-effective and of high-quality.

Our extensive catalog of Medical Transcription Companies and Medical transcription Services will leave you with an answer to all your questions. This page of MedicExchange features not
only a wide range of MT companies and MT Services names but also their specific features and details that can bring you to a decision about which company and product to choose.

In short, medical transcription is a specialized trade that requires a lot of effort from potential transcribers. It is essentially a life-long investment that requires transcribers to continually study reference materials, technology, and medical terminology.

Medical Transcription Outsourcing is heavily in Demand

Medical transcription is documentation of medical records. Medical transcription experts are called medical transcripts or transcribers. Partially sub-contracting the business to an outside agency is referred to as a service provider and is called outsourcing. Transcribers listen to dictations of health care professionals can be in digital or analog format, which are then converted to text format. These files generally have patient

Medical transcription outsourcing – Have Trust when you Outsource

Medical transcription outsourcing industry has developed over the years, and this was only possible because of the believe rendered by doctors on the medical transcription firms. This confidence shown by doctors and hospitals has provided the Medical transcription firms to deliver accurate reports.
It’s become simpler for doctors to maintain the patient’s reports, as they don’t require to invest their time and energy on working on arrangements for transcription work. It would have been a big nightmare, if these reports would have to be maintained in paper filed formats. Definitely, hospitals and clinics would need to have big store rooms filled with these files, thanks to the technology and medial transcription firms, that have made things easier and better to maintain.
While preferring for Medical transcription outsourcing , both the doctors and medical transcription firms to keep few critical points in mind, so that the partnerships exist for long.
They are as follows:
Doctors and hospitals should search for the most experienced company to avoid damage of their work and waste of time in coordinating for improvements.
Medical transcription firms should have sure training sessions for employees, on improving their work and also on modern technological transfers related to medical transcription field.
Doctors should the outsourced company, as that would assist build trust and better dealings between medical transcription firm and the doctors.
Medical transcription firm should have effective transcribing machines, software’s and headphones.
Doctors while recording the tapes should try to be clear in their speech, loud and avoid taking pause’s so that it’s easy for transcribers to transcribe the reports.
Medical transcription firms should appoint special doctors in house, to check the transcribed reports, this helps to avoid misspellings of medicine’s specified by doctors in the recorded tapes.
Medical transcription firms should value time and deliver reports on the said time. Meet the turnaround time.
Doctors should understand if there is any problem because of which the reports could not be delivered which would be a rare case.
Medical transcription firms should have a quality management team to check, recheck all the reports and make the required changes before sending the reports to the clients doctors or hospitals.
Medical transcription outsourcing helps hospitals and doctors to get work done from specialists.

Thus, better understanding at both ends would help in a long term relationship building, which would be beneficial for all the parties directly or indirectly involved in it.

Medical Transcription
Medical transcription, also known as MT, is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals, into text format.