Medical Transcription School

Medical Transcription Service

In recent years, traditional hospitals have come under competitive attack by more efficient managed care organizations. In an effort to remain competitive, a lot of health care providers have turned to outsourcing as a means of cutting costs. Many of the processes that were previously performed internally are now being contracted out to third parties. Medical transcription is no exception. The outsourcing of medical transcription work to professional medical transcription service organizations relieves hospitals of the administrative headaches and overhead burdens associated with internal production and allows them to focus their attention on improving service and lowering costs.

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There is considerable evidence to suggest that contracting out work to medical transcription service providers is a much less costly alternative to producing reports internally. Most savvy healthcare providers today understand this and are responding appropriately. The significant cost-cutting pressures which continue to drive the industry toward consolidation, managed care, and capitation, virtually guarantee that the outsourcing trend will not only continue but accelerate in coming years.
This proliferation of outsourcing agreements has spawned a new generation of small medical transcription services intent on carving out a piece of the pie. Interestingly, in spite of its rapid growth, the medical transcription industry is still considered a cottage industry. While there are a few truly national medical transcription service providers, the industry is at this point still dominated by the hundreds of small local medical transcription service companies located wherever hospitals and clinics are found.
In truth, the internet has completely transformed the way business is conducted in the medical transcription industry. It is no longer necessary for medical transcription service providers to locate themselves in close proximity to their health care clients. Nor is it imperative that the medical transcriptionists employed by the medical transcription service provider be located near their employer. High speed internet connections are completely dismantling geographic barriers. Increasingly, all medical transcription is done remotely and transmitted electronically. The typical flow of work if for a medical transcriptionist working from home to electronically transmit her completed work to an employer -- generally a medical transcription service provider. Then, after conducting quality control, final editing, and formatting processes, the medical transcription service provider in turn electronically sends the completed files on to the hospital or clinic client. In this context, actual physical interactions and travel times are kept at a bare minimum and productivity increases dramatically reducing costs and increasing incomes.

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