Healthcare organizations based in the US are now facing several challenges that are drastically affecting not only their relationships with patients, but their reputation and brand as well.
Apart from the recent developments in the Healthcare Act, medical executives and decision-makers need to comply with the new regulations and deadlines, and stay competitive as the US economy is still working its way to bounce back from recession.
Healthcare organizations now turn to medical transcription outsourcing
in hopes of resolving challenges.
posted an article that identifies the benefits of outsourcing medical transcription processes:Reduce capital expenditures.
Organizations no longer have to spend on tools and equipment that need to be upgraded and maintained in the long run. The average cost of maintenance for the transcription tools is 17 percent of the total cost of the entire equipment every year.
Medical transcription outsourcing operations can be scalable.
The volume of medical encoding work is often unpredictable and organizations need to be able to adapt to the changes quickly. They have to align all of their departments and processes as they work towards one goal, which is to deliver results. This is where outsourcing comes in handy - healthcare executives can address the fluctuating demand and focus on their core processes.
Cut management costs.
Medical transcription involves processes that eat up time and budget. Health information managers, CFOs, and even private physicians have to deal with dictation, sending and receiving data, and even storing information. Outsourcing will also reduce the costs of managing full-time staff. Minimize labor costs.
Hiring full-time employees for medical transcription work would mean spending on salaries and government- mandated benefits. Outsourcing can be done on a project basis, or to cover the sudden influx of work. Data is more accessible.
Outsourced medical transcription operations are usually web-based or server-based. This means patient information and other crucial data can be accessed anywhere and anytime through a secure system. Software used in these set-ups makes tasks a breeze for transcriptionists because they can rummage through the hundreds of profiles and find what they need easily with a search function. Maximize the capabilities of your IT department.
The IT departments of healthcare organizations that do not outsource medical transcription work are often pushed to their limits. Apart from having to manage and maintain day-to-day IT processes of a facility, they also have to maintain the additional equipment and software used specifically for medical transcription. They would have to familiarize themselves with the tools used by medical encoders and allot server space specifically for transcription work.
Minimize HR and employee management work.
Since medical transcription is different from providing medical care to patients, a healthcare organization would need to hire a different set of human resources personnel to address the management needs of health information management employees. Through outsourcing, providers will be the ones sourcing and managing candidates for HIM processes, which ultimately lessens unsuccessful hires and losses.
Promptly meet deadlines.
Medical transcription service providers have built their entire process on the concept of being able to deliver accurate results on time. They take pride in doing so because their business depends on their image and brand. In fact, some suppliers also include performance guarantees to ensure high quality output. Shorten turnaround time of billing process.
It has been reported that there have been bottlenecks when it comes to cash flow in medical organizations - even amongst physicians who practice privately. Some cannot handle the volume of work to be done, and some encounter errors that lead to longer processing time. Outsourcing gives companies the ability to allot their time and resources to the core processes of the organization and put their patientsí welfare first.