Transcription outsourcing can help you maximize your practice’s revenue and improve its overall efficiency.Your main role as a healthcare professional should be to provide each and every patient with top-notch medical services. Therefore, focusing on the business aspect of your practice to determine whether or not insurance has paid you for your services may be difficult. To avoid the headache and challenges that come with strict compliance regulations, massive amounts of medical information, deadlines, and tight budgets, many medical organizations turn to transcription outsourcing.
Many medical professionals don’t know enough about the business side of their practice to understand what is necessary to improve it. When you opt for transcription outsourcing, you can learn more about your practice and receive an in-depth outside analysis of its strengths and weaknesses.
A transcription outsourcing service such as Applied Medical Services can give you insights on the following and help you make sure that your practice is not hurting because of what you do not know.
How much it costs you to see each patient and what your collection is per patient for every type of insurance.
Who your competition is and what they are doing better than you are.
What your most frequent denials are and whether they could be avoided by improved efforts on the front end.
Where your patients are coming from?
How your marketing efforts are doing and what you can do to enhance them.
Transcription outsourcing can also help you eliminate staffing concerns and save money. It’s not simple or cheap to keep well-trained experienced transcriptionists on an internal team. Full-time transcriptions can be very costly when you factor in a yearly salary, health insurance, and payroll expenses for every employee. By outsourcing, you can avoid the complex issues and high costs that come with recruiting, staffing, and managing proficient transcriptions in-house.
In addition to the HR benefits, transcription outsourcing can improve your accuracy and turnaround time and shorten the accounts receivable cycle. Managing your own medical transcription process will force you to manage employees, records, medical coding, technology, HIPPA compliance, and more. By outsourcing medical transcription, you can simplify your workflow and in turn, ensure condense your accounts receivable cycle.
By working with a reputable transcription outsourcing company such as Applied Medical Systems, you’ll finally be able to concentrate on patient care and leave all of the complexities that come with medical transcription to us. For more information on our services and how you can profit from our years of experience, contact us today.