Growing Expectations from Transcription Companies

Several healthcare organizations today look for a medical transcription system that is able to meet their future needs. Cost savings, cost restructuring, improvement in quality, and access to talent are some of the major requirements hospitals demand which “makes the outsourcer a change agent.”

 

A large number of Medical Transcription Service Organizations (MTSOs) have gone on consolidation mode because of “mergers and acquisitions, greater emphasis on adoption of EHRs and spread of health information exchanges across the nation,” says an article that appeared in the fortherecordmag.com.  The article, quoting Bob Thomas, a HIM consultant for transcription and computer-assisted coding says that most hospitals demand high quality, ability to meet turn around times (TATs) and affordability from MTSOs; which is a real challenge.

 

Quality

Quality and TAT should be top priority for an MTSO. It drives revenue cycle management. However, industry should be able to structure the transcription services according to technological changes and physician’s requirements because they are the best judges for quality of what they require. According to Susan M. Lucci vice president of field operations for Webmedx and past president of the Association for Healthcare Documentation Integrity (AHDI), maintaining quality has a price and hospitals should be willing to pay for it.

 

 

Turn-around Times (TAT)

“Establishment of an appropriate TAT is an important negotiation point between hospitals and MTSOs,” says the fortherecordmag.com article. For establishing TAT, clearly “defined expectations” are crucial because transparency is a must in service-level agreements to ensure maximum performance. It is also necessary to cover facility demographics, volume and clinician dictation practices. Another aspect is the growing prevalence of EHRs and the steady march towards real time access to information and the speed and consistency at which an MTSO is able to deliver a quality transcription which makes delivery of care more critical. They should also be able to absorb the excess fluctuations in volume and capacity disruptions which hospitals are likely to experience from time to time.

 

Affordability

Operating budgets of even the most successful institutions continue to be on a narrow range despite positive signals in recovery of nation’s economy. It is an open fact that hospitals nationwide are on a cost cutting spree. As a result offshore outsourcing has already gained popularity as a strategy for cutting transcription costs. These organizations save cost by ”lowering the overall cost by reducing the scope, defining quality levels, re-pricing, re-negotiation, and cost re-structuring.” MTSOs should have a positive outlook towards this strategy.

 

Looking Ahead

Medical Transcription is definitely a flexible application. Besides providing client focused services, MTSOs have a major responsibility today i.e., to make transcription more secure. It can counter the challenges successfully only if it is able to deliver patient documentation accurately and remain responsive to concerns of their clients.  Success depends on how best MTSOs are able to negotiate the three major requirements of the industry as Bob has put it; Quality, Turn around times and Affordability.  For hospitals it depends on how best they are able to make use of the services of an MTSO optimally. That is another challenge.

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  • John Keith

    Transcription companies are in growing phase, but in customer perspective choosing a company is always a big task. In my experience i can suggest SpectraMedi MSO without any doubt. For getting more details visit: http://www.spectramedi.com/medical-transcription-services.html

  • http://www.outsourcestrategies.com/ Outsource Strategies

    Very useful article! Outsourcing transcription truly helps the organization to save costs and resources. By outsourcing these tasks, organizations can focus on their important responsibilities. Make sure to approach an experienced company to perform the transcription process.
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