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Medical transcription has evolved to become a crucial pillar in a successful healthcare service. Nevertheless, the global financial crisis has been also reflected on the healthcare sector and reduction of the costs of medical transcription is indispensible. So, how can you reduce your medical transcription expenses? Picking up the right voice transcription software is crucial if you are planning to shrink your medical transcription budget. Even if you have hired human transcriptionists, efficient voice transcription software can reduce their working hours and hence, aid in reducing your expenses. Outsourcing the US work load of medical transcription to offshore transcriptionists has proven to be the magic stick that could markedly shrink the financial burden of medical transcription. Outsourcing can cut 40% to 70% off the medical transcription bill when the work load is carried by in-house US based transcriptionists. The medical transcription cost the US more than 16 billion dollars in the year 2010, although more than 40% of the work load had been outsourced to remote medical transcriptionists. An increase in the outsourced work load is expected when all concerns of health care professionals, regarding offshore outsourcing, are properly addressed by medical transcription agencies. Most medical transcriptionists charge healthcare providers per line of transcribed medical data. Astonishingly enough, a US based transcriptionist’s per line charge is nearly ten times that of a transcriptionist based in India or the Philippines. Hiring specialized Medical transcription agencies can usually reduce your expenses when compared to the payouts of individual transcriptionists. Research thoroughly all available transcription agencies and go for ones that are well supported by a considerable number of testimonials and positive reviews. If you prefer working personally with your medical transcriptionist(s), it is wise to look for transcriptionists that are well versed with the terms of your specialty. Medical transcriptionists are not always familiar with unpopular or rather vague medical terms. Nowadays, some medical transcriptionists specialize in specific medical fields just like physicians and nurses do. If you are a neurologist, a medical transcriptionist who specializes in neurology will definitely save you time, effort and money. Moreover, he/she would sure do the job more efficiently. Should you hire a Medical transcription company? Or is it better to find a team of medical transcriptionists to personally work with? Well, it is really hard to answer these questions, but it is worth saying that every situation is unique and has its own special needs. To simplify, your work load shall determine whether or not you should resort to specialized Medical transcription agencies. Reduction of medical transcription expenses has never been urgent, especially during the current global economic crisis. Adequate understanding of your organization’s work load and special needs is the key factor to creation of a successful plan to reduce your medical transcription expenses.
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