Transcription Companies And Your Healthcare Organization

While some healthcare organizations turn to their administrative staff members for dictation and transcription projects, others are making the most of outsourcing options available from medical transcription companies. Medical transcription companies can help healthcare organizations of all sizes and budgets enjoy the benefits of high quality reports and transcription service and make use of today’s innovative technologies to submit reports and data. Turning to outsourced transcription companies offers several benefits and can even keep your costs for these services as low as possible. When you need quality, HIPAA-compliant reports on a consistent basis, transcription companies offer a wealth of benefits with a fully-equipped team of professionals standing by.

Transcription companies make it easier than ever to complete dictation and transcription projects with ease. Your healthcare professionals simply send over dictation tapes and recordings via the web or mail to the company, and they manage the transcription and reporting. After submitting the dictation, there is very minimal communication and contact required; this saves your doctors and physicians time during their busy schedules, and saves the organization time overall.

The dictation is then processed into a transcription by a staff of well-trained medical transcription professionals. After transcribing the data, the transcriptionist can code and store it accordingly to transfer it into a file. The files are stored on a secure server, and all information is held in strict confidentiality. Your transcription company can explain what type of security system they have in place for all data transmissions, and may also provide extensive information on their process for HIPAA law compliance and other rules and regulations that may apply to your business.After converting the data into a transcription,it is prepared for processing and reporting. At this stage, most reports are sent to a transcription companies’ quality control department to check for accuracy, HIPAA-compliance and other regulations that ensure utmost quality of the final product. This entire process can take just 24- 48 hours, which means your doctors, physicians and healthcare professionals can have their documents and reports in less than 2-3 days.

Today’s innovative technologies have made it easier for healthcare professionals to obtain data from transcriptionists at a touch of a button. Instead of waiting to print out reports and other information from the transcription companies, doctors can download the report directly to a computer or handheld device for easy access. During the dictation process, most doctors can also submit data directly over the phone or web-enabled device. This means the transcriptionist will receive a quality voice recording immediately, reducing the risk of errors and discrepancies and once again ensuring a final product of the utmost quality.

Transcription companies can manage the entire dictation-to-reporting process with accuracy and efficiency in mind, and will also ensure that all data remains confidential throughout the process. Instead of investing time and money to train your staff, outsourcing the project can help you make the most of your resources. When time is of the essence in your busy healthcare organization, transcription companies are a very valuable resource for your medical transcription needs.

Source : http://www.212articles.com/

Medical Transcription in India: A challenging career option!

Medical Transcription is one of the fastest growing fields in health care business in Western countries, especially in the US where the entire healthcare industry is based on insurance, and detailed medical documents are needed for processing insurance claims. Therefore, the hospitals and doctors avail medical transcription services to cater with the demands of documental records, basically outsourcing the business. In the last few years, India has shown an unprecedented success in this field of medical transcription cashing in on the outsourced business from US and other western countries.

Medical Transcription provides an exciting and challenging job option with an ever expanding knowledge based career. It is the process whereby a medical transcriptionist has to accurately and swiftly transcribe medical records dictated by doctors and their associates comprising of history and physical reports, clinical notes, office visit notes, operative reports, consultation notes, discharge summaries, official letters, psychiatric evaluations, laboratory reports, x-ray and MRI reports and pathology reports. A medical transcriptionist is a person who carries out the process of converting the voice format of medical data into text data.

The data is received in the form of digital data files and voice data files and converted into text format in the process of transcription. There are certain prerequisites to convert those voice files into text documents which basically involve transcription and editing. To ensure maximum accuracy, the editing part of the transcribed files include quality checking, visual proofreading, spelling checks, grammatical corrections, rephrasing to streamline the context, and removal of inconsistencies and illogical content so that the desired accuracy of at least 98% is met before being uploaded back to the clients.

Read More Article...

CBaySystems keen to list on Indian bourses

CBaySystems India, the healthcare business process outsourcing (BPO) services company, is planning to list on the bourses in a year's time.

"We have plans for listing on the Indian bourses. We are looking at further expansion of our infrastructure in the country, for which we need to raise capital locally. With our turnover to double next year, the opportunity for growth also increases," said Raman Kumar, Chairman and CEO, CbaySystems. The revenues from India operations are about Rs 120 crore and are expected to double by next year.

The company is planning to expand operations in Ahmedabad, as well as its Nagpur and Vizag centres. It also intends to build a campus in Hyderabad SEZ with a capacity of 2,000 people. The company has centres at Vijayawada, Guwahati and Hubli.

CBaySystems Holding, the parent company of CBaySytems India, is listed on the AIM platform of London Stock Exchange (LSE). The parent company will relist on the LSE after completing the recent acquisition of MedQuist, a Philips company. "With this acquisition, our turnover will move from $70 million to $400 million. We hence feel the company needs to be on the mainboard," said Kumar.

Lehman Brothers and SAC Private Capital Group hold over 55 per cent stake in the holding company. Both these players had invested $123 million in CBay, which was used for the MedQuist acquisition. Other shareholders in the company are Godrej Industries, GMO and Kingdon Capital.

The company will continue to look at fresh buys. "Acquisition remains a focus. We are looking for companies with capabilities in the medical transcription space, including receivable management. These could either be BPOs or companies with technology skills," said Kumar.

The MedQuist buy catapults CBaySystems into a leading position in the medical transcription business. MedQuist has nearly 8,000 employees in the US and this would boost the revenues of CBay Systems Holdings to $400 million (around Rs 1,680 crore) for this year. The company's revenue for the quarter ended December 31, 2007 was $57.7 million (around Rs 242 crore).

CBay's headcount in India is 5,500 and the acquisition will bolster its Indian operations. "We have still not decided whether MedQuist's work will be offshored. The decision has to come from the company's management team.

About 6-7 per cent of the business currently comes to India. If we get 10 per cent of the work to India to leverage the offshore capability of CBaySystems, it will be worth $30 million," said Kumar.

Source : http://www.business-standard.com/