Role Of Medical Transcription in Superior Healthcare Collaboration
The field of medical transcription has made enormous progress throughout the years. However, with the advent of the EHR system, many people assumed that medical transcription would become obsolete. While the widespread use of electronic health records (EHR) had great potential for improving healthcare for providers and patients it had no visible effect on the demand for transcription services.
In 2021, the medical transcription industry was estimated to be worth $66.5 billion worldwide. The IMARC Group forecasts that the market will grow to $96.5 billion by 2027, with a CAGR of 5.9 percent between 2022 and 2027. This signifies the degree of importance medical transcription holds while being just a tiny part of a massive industry. This post will attempt to accurately describe medical transcription and how it can help enable superior healthcare collaboration.
What is Medical Transcription?
Medical transcription services are required to aid the process of listening to, interpreting, and transcribing medical voice recordings of patient histories, operative reports, and clinical notes prepared by physicians, nurses, or other healthcare practitioners. A medical transcriptionist with a solid grasp of the field’s specialized terminology, anatomy, and physiology is the ideal candidate for performing the duties above. Medical transcriptionists must have fast typing speeds and precision when transcribing audio recordings into written papers. Some of the terminology used in this field is quite sophisticated and specific. Therefore, any translations must be spot-on. They can translate the transcriptions’ content in a way that aids billing and provides clarity for doctors, patients, and insurance companies. Not only is it necessary to transcribe the patient’s medical information, but it is also necessary to revise and proofread any reports generated by speech recognition software.
Benefits of Medical Transcription
Increased Focus on Patient Care
When medical practitioners are not focused on fulfilling administrative responsibilities, they can devote more time to patient care. When your information is correctly organized, you have access to a comprehensive narrative of your patient’s history, including what you have previously communicated to the patient. Simply going back over what you have already stated will assist you in remembering the essential aspects of a specific situation, which will immediately improve the care you provide.
Cost-cutting
You may think it’d be a good idea to bring in-house medical transcriptionists rather than outsource the work. However, maintaining an in-house team with salaries, payroll, taxes, and health insurance may be costly. Meanwhile, you could do the same job at half the cost by outsourcing transcription services to a professional service provider. In addition, finding someone who offers something like radiology transcription might be challenging, given that it requires you to understand the profession well.
Accuracy
Accuracy gains a whole new meaning when working with an experienced medical transcription provider. Moreover, to guarantee that no erroneous medical jargon, typing errors, or misspelled words made it into the final transcript, your transcribing service provider will maintain a stringent level of quality control. Medical transcribing services are available from specialists in various fields, including neurology, cardiology, and dermatology. Transcription services like this can cater to your specific needs. No longer need to deploy many in-house residents for quality assurance when outsourcing is used.
Better Medical Coding and Billing
Medical coding and billing are essential to running a successful medical practice. To no one’s surprise, filing claims for processing is not a straightforward procedure. A claim is denied during processing directly impacts your bottom line. Using a medical transcribing service can reduce the likelihood of making mistakes like these. As a result of your meticulous charting, filing insurance claims will be a breeze.
Impact on perceived privacy
A physical scribe in the room can seem like a blatant invasion of privacy to patients. However, by utilizing the services of a virtual scribe, the increased perception of privacy can go a long way in improving communication between the physician and the patients.
Scalable
Variability in annual appointment volume is to be expected in most practices. The last few weeks of summer may be hectic as parents rush to schedule their children’s yearly checkups before school begins. It’s possible that during the busy season, your staff will need to work harder than usual to accommodate the increased number of scheduled appointments and the additional duties that come with seeing more patients than usual. Most virtual medical transcription providers offer a range of services that include radiology transcription services and they allow you to scale up or down at will.
The Conclusion
It is no longer necessary for medical practitioners to be concerned about managing an in-house transcription team as the trend toward outsourcing medical transcription is growing stronger by the day. A further advantage of this technique is that it makes it possible to obtain error-free transcriptions of reports on time, enhancing the quality of treatment provided to patients and the overall workflow. In addition, making the entire workflow more efficient opens new avenues for collaboration that could not have been possible before.
