Transcription Services Cost: Healthcare Organization

Healthcare organizations are among the busiest ones. They produce a lot of notes and documents every day. 

Healthcare-related jobs vary widely, from keeping patient records and handling administrative documents to producing financial statements, accounting, and other documents. 

They also produce many kinds of audio content every day. Therefore, working with a transcription service is a great choice. 

However, many refrains from working with the specialist ones due to the higher transcription services cost in medical sector. 

Is it really more expensive than other services?

For some healthcare organizations, transcription services cost is one of the intervening aspects. 

Transcription Services CostUsing voice recognition software is mostly not enough due to a lot of problems with the technology. 

While speech recognition and transcription technology are improving all the time, accuracy remains a question in the domain of language transcription. 

In most cases, the transcribed texts still need human touch to ensure accuracy in terminology. 

 

Transcription Services Cost: What Determines for Cost?

In medical sector, the cost of medical transcription can make the problem worse. 

The medical transcription is mostly charged per line, with price range varying from a country to another. 

Overall, they are more expensive than general transcription service. 

However, it must be noted that the cost is equivalent to the energy, capability, and competence required from a transcriptionists to do the job. 

Actually, a number of aspects determine the transcription services costs, including:

 

Highly Specialized Terminology

It is widely known that the healthcare industry is identical to highly specialized terminology.  

Therefore, the transcription job can only be done by those who have background knowledge and/or education in the similar domain. 

In some cases, even transcriptionists from medical science cannot do all of the transcription jobs. 

For instance, someone whose background is nutrition may not be familiar with terminology in dental medicine. 

Consequently, transcribing audio contents in nutrition and dental medicine may be done by different transcriptionists. 

 

Quality Assurance

Medical transcription mostly goes beyond entering data into the system and getting the results in a few seconds. 

Even if the transcription agency is supported by automated transcription software, there is another crucial step, namely, proofreading by a transcriptionist. 

Transcription Services CostThis aims at making sure that the clients get highly accurate and proofread text. 

For quality assurance, the transcriptionists mostly work in a team, particularly when the contents in the audio file are related to some different specialities in medicine. 

This certainly adds to the transcription services cost.

 

Confidentiality

In fact, price can be less significant if you are concerned about quality and security, and timeliness. 

Imagine that you hand over recorded speeches or conversations between the medical professionals and the patients. 

They may provide confidential information about their identity and health. Such sensitive information should not be exposed to public. 

Accordingly, the healthcare service needs to make sure that the transcription agency keeps all the information safe.

 

Timeliness

The team of medical transcriptionists needs to work intensively, if not under pressure, to make sure that the job is done before the deadline. 

Healthcare is a sensitive industry. Lateness in intervention may lead to serious implications. 

That is why medical transcription services cost is higher since the team has to work harder to make sure that everything is on the track. 

In certain cases, the healthcare institutions want to pay more as long as the team of transcriptionists can do the job within the turnaround time requested.

 

Transcription Services Cost: How to Reduce?

For those who want to cut the transcription services cost, using speech recognition or automated transcription software. 

The software is helpful enough for quick results. However, if every part of the speech in the recorded conversation is important and if linguistic structure, accents, or gestures are important, then the software may not be helpful enough. 

The transcribed text needs to be checked and proofread by a transcriptionist. The result is much more accurate, but hiring a transcriptionist means additional cost. 

Transcription Services CostYou can actually cut the cost of medical transcription by having a regular partnership with a reputable transcription agency. 

If the transcription volume is huge and you are repeat customers, you may negotiate for a price discount. 

The service agencies commonly offer discounts for their loyal customers. Overall, having a medical transcription cost do the job will save your time. 

You can reduce the burden of these tasks and allocate the human resources in your institution in a more effective way by having the experts do the transcription jobs.

In fact, the transcription services cost per minute is actually not expensive if you see it from the benefits that your institution enjoy. 

For instance, properly transcribed charts and accurate information on the patients’ condition allow the healthcare professional team and billing team to do their job in a hassle-free way. 

The billing team can code claims easily while the medical team can offer the best treatment and follow-up for the patients. 

Not only speeding up the work process, accurate transcription also lowers the risk of denial and complaints, right?