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Outsourced Medical Transcription – Competitive Pricing

Posted Sep 25 2012 3:38am

The possibility of gaining attractive savings is an aspect that attracts clinics, hospitals, other healthcare practices and individual physicians to outsourced medical transcription. The affordable cost is supported by expert talent, speed and precision that is hard to find in one’s own practice. The 24 hour turnaround is also impressive. This article takes a look at competitive pricing offered by healthcare transcription outsourcing companies – factors that influence it, the savings calculator and the free trial from where the partnership between the healthcare practice and the service provider begins or ends.

Factors Influencing Medical Transcription Pricing

You should only outsource to a vendor who can guarantee you a minimum savings of 30 percent on operating costs. The common method of pricing is based on the 65 character line including spaces. If the client prefers, the pricing can be done based on characters. Factors that influence the cost are:

• Volume of transcription required
• Medium of dictation – Dictaphone, toll free, personal computer or other means
• Quality of recording
• Media receipt and delivery
• Document management flow system
• Upload frequency
• Equipment rentals
• Specialty requirements
• Disc backups
• Turnaround time

The final proposal may depend on factors such as kind of dictation, technology problems, ramp up periods, reassignment of personnel and outsourcing segments.

Savings Calculator

It is not uncommon for medical transcription outsourcing companies to offer possible clients use of their savings calculator so that they can calculate themselves how much they would have to pay for their requirements. If the clients know the cost in advance, they can assess whether they really would get considerable savings by outsourcing to that particular service provider.

Free Trial

Always ask for a free trial if you are trying to choose between different transcription service vendors. The completed project would give you an opportunity to assess whether or not the accuracy and quality is up-to-the-mark. If not, you just have to try the free trial of another service provider.

Please Note

When assessing a service provider with respect to privacy, look for transparency, fairness, flexibility and customization. Make sure the company you outsource to, having given you the assurance of affordability, doesn’t end up imposing hidden charges on you. To be safe, just ask the company if they have any additional charges which they have not already spoken to you about, before outsourcing to them.

Other Cost Related Benefits

Some of the other benefits you can look forward to from an established healthcare transcription company are volume discounts and no set-up charges.

How Do You Really Save on Operating Costs?

It is actually because the burden of software, manpower, technology, capital, training and management for your transcription requirements would be on the shoulders of the service provider. They would not be at a loss because they would be using the same resources to serve multiple clients associated with multiple medical specialties. These multiple clients would be sharing in the service provider’s transcription related operating expenses.

Value for Money Industry

The above is an overview of the competitive pricing associated with outsourced medical transcription. Considering the wide range of benefits that the industry offers to the healthcare fraternity, it’s true value for money.


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