Outsourcing Transcription To Save Costs
By Kelly Gillis, Wed Dec 7th

Looking for ways to cut costs has become a way of life in mostmedical offices and institutions. One very efficient way toreduce expenditures has been found to be the outsourcing ofmedical transcription services.

In the past medical and business transcription was performed byin house based employees. This means that the institution notonly had to pay salaries, health care benefits, vacation andsick pay for their employees, they also had the expense of thephysical space and equipment needs. Hospitals and otherinstitutions have found that outsourcing of their transcriptionneeds eliminates some of these internal managementresponsibilities and costs.

Most institutions pay on an average 28 to 36 percent more fortheir in house transcription then they would pay for the same ifit was outsourced. Studies done in the past have found that aproduction based transcriptionist working in her or his home hasa cost of nearly 37 percent less per character than an in housetranscriptionist.

Another consideration of outsourcing transcription is accuracyof work and turn around time. Even with on sitetranscriptionists many hospitals have physician complaintsregarding the quality and accuracy of the transcription and theturn around time of their dictations. Turn around time isdirectly related to the productivity of the worker. It was foundthat on site transcriptionists have many more disruptions and amuch lower production rate when compared to outsourcedtranscriptionists. The on site transcription production rate isaround 39 percent less than production based and home basedtranscription production rates.

At the completion of a nearly two year study it was found thathospitals and other institutions could save as much as 33 - 38percent a year utilizing outsourced transcriptions services.

Explore your outsourcing options. You may find that you get muchmore for your money.

About the author:Article courtesy of http://www.transcription-guide.com