3 Ways Medical Transcription Is Good for Your Budget

Many businesses, including busy medical practices, are looking for ways to keep expenses in check these days due to concerns about costs. While you may be focusing on internal ways to maximize your savings, there’s one other option you may not have considered. Medical transcriptionist services are an extremely effective way to ease your budget concerns while still doing what you do best – and keeping your patients and clients happy at the same time. Below, we highlight three ways medical transcription services are good for your budget.

1. Eliminating Potentially Costly Errors

Unintentional errors and oversights can be costly, especially with electronic health record issues. This could involve fines and penalties, or possibly legal costs if transcription or data entry errors result in a malpractice case or similar legal issues. Fortunately, this risk can be minimized with outsourced EHR transcription. Medical transcriptionists are highly skilled and trained to have an eye for detail. What’s more, these experts use software that ensures compliance with EHR regulations, which also reduces the risk of related fines or costly billing errors.

2. Streamlining Internal Staff Costs

Things like overtime pay for extra work that needs to be done can quickly escalate and stretch an already limited budget for any medical practice. By outsourcing medical transcriptionist services, there will be less of a need for overtime for transcription-related duties. This also means your staff can stay focused on more direct patient interactions and their main daily responsibilities. Easing the burden on your internal staff is also good for your budget because of added benefits that often include:

• Less of a need to hire extra staff to handle transcription work
• Reducing stress for your internal staff, which often means fewer sick days and related costs
• Eliminating the need to be concerned about benefits and similar expenses for new full-time staff members

3. Giving You Time to Work with More Patients or Clients

One other way you’ll keep your budget in check with medical transcription is by attracting more clients because you’re able to focus more on your work. Let’s say, for example, you normally perform independent medical evaluations for workers’ comp cases or medical hearings. In this case, outsourced medico-legal transcription gives you more time to work with clients by allowing you to simply dictate your notes. This same benefit can be enjoyed by busy medical practices or ones with a smaller support staff.

Our Accuracy and Availability Saves You Money, Too!

Medical transcription services are extremely flexible in that they can fit into your particular practice or line of business in many cost-effective ways. In fact, we have an impressive 99.5% accuracy rate, plus we’re available 24/7. This further saves you money by giving you instant access to external support for transcription-related needs in any way that’s convenient for you. Furthermore, you won’t have to be overly concerned about accuracy or potentially costly errors. The added peace of mind is also very much appreciated. Contact us today to learn more about our transcription services and all-inclusive pricing.