Looking for ways to cut costs has become a way of life in most medical
offices and institutions. One very efficient way to reduce expenditures
has been found to be the outsourcing of medical transcription services.
In the past medical and business transcription was performed by in
house based employees. This means that the institution not only had to
pay salaries, health care benefits, vacation and sick pay for their
employees, they also had the expense of the physical space and
equipment needs. Hospitals and other institutions have found that
outsourcing of their transcription needs eliminates some of these
internal management responsibilities and costs.
Most institutions pay on an average 28 to 36 percent more for their in
house transcription then they would pay for the same if it was
outsourced. Studies done in the past have found that a production based
transcriptionist working in her or his home has a cost of nearly 37
percent less per character than an in house transcriptionist.
Another consideration of outsourcing transcription is accuracy of work
and turn around time. Even with on site transcriptionists many
hospitals have physician complaints regarding the quality and accuracy
of the transcription and the turn around time of their dictations. Turn
around time is directly related to the productivity of the worker. It
was found that on site transcriptionists have many more disruptions and
a much lower production rate when compared to outsourced
transcriptionists. The on site transcription production rate is around
39 percent less than production based and home based transcription
production rates.
At the completion of a nearly two year study it was found that
hospitals and other institutions could save as much as 33 - 38 percent
a year utilizing outsourced transcriptions services.
Explore your outsourcing options. You may find that you get much more for your money.
