Sunday, May 20th, 2012

Do you know what medical transcription is all about? Medical Transcription, or MT, is utilized by allied health professions by way of reports that are voice recorded. These reports are dictated by healthcare professionals and/or physicians and are converted into a text format. Originating in 1975, this transcription was developed through a process called MRP, or Manufacturing Resource Planning, with an advanced version formatted later called MRP2. Evolving from typewriters to electronic typewriters to computers, medical transcription is conveyed through speech recognition or SR or continuous speech recognition also known as CSR.

With the growing need for electronic records that would be permanent and precise, the storage and transfer of medical records from desktop computers connected to efficient and effective servers has changed the face of medical record service. Giving rise to services of medical transcription companies globally, goes through several stages. As soon as a patient leaves a doctor’s room after examination and discussion of the problems or history, the doctor utilizes and records the diagnosis and plan of treatment for the patient. This information is dictated into a voice-recording device or in to a telephone that can be dialed to connect to a central server which can either be situated in the transcription service office or unit or in the hospital. With the vital information being relayed to the medical transcriptionist, the doctor can access the report as soon as it is transcribed.

How are Medical Records Transcribed?

There are many medical transcription companies who offer voice recognition software that provide services to hospitals, health systems, and clinics internationally. The medical transcriptionist then format, edit and review the medical document with the use of equipment called a medical transcriber. Using state-of-the-art technology to streamline data, the MT companies transcribe various types of medical records that cover the gamut of transcription services that follow HIPAA and HITECH Act standards and practices. Offering their expertise to healthcare facilities and providers, MT companies train them to hone and develop skills.

As a criterion, they are required to absorb, inculcate and render perfect medical records that adhere to HIPAA and HITECH regulations. The MT companies train them with knowledge of medical terminology, anatomy, memory and typing skills, spelling, accuracy, punctuation multiple specialties, multiple report types and grammar besides being proficient on the computer. With constant upgrades the transcriptionist is put through stringent paces to maintain charts, file records, adhere to related templates and complete transcribing with quick turnaround time. They must also be efficient enough to identify and transcribe various accents and pronunciations.

Medical transcription service is often outsourced as the cost is cheaper in various countries as compared to the U.S. dollar. With the outsourced medical transcription being cost-effective and efficient, many of the foreign outsourcing companies have realized profits with the work adhering to security, privacy, quick grasp of accents, geography, knowledge of medical terms and drug names. The outsourced transcriptionists offer value, quality and capability besides offering their principals the advantages of outsourcing medical transcription.

V Transcription offers the Benefits of Outsourced Medical Transcription

V Transcription has established itself as an excellent medical transcription company in Belden, Mississippi, USA. Blending accuracy, timely delivery and a cost-effective approach, the company provides quality transcription to vendors overseas with expertise, experience and efficacy. V Transcription is powered by Infra-ware to provide outsourced medical transcription solution for medical records documentation. The company delivers medical reports adhering to stringent HIPAA regulations, besides following all the latest updates of the HITECH Act. Incorporating data-interchange with healthcare facilities, the transfer process evolves on a 128-bit SSL certified platform to ensure protection and privacy.

More so than ever, insurance price hikes in the US are becoming common place. The insurers are fighting back in many cases, albeit in vain as it is only to defend profit margins as opposed to something more conceivable such as cost of operations increasing or anomalies in the amount of claims being submitted.

However, in the UK, BUPA recently made a very risky, yet honourable amendment to their corporate plans. This amendment saw the Open Referrals Process forced upon corporate clients. The Open Referrals process means that, instead of referring these patients directly to a consultant, GPs will have to provide them with an open referral (a referral for a procedure with no named consultant).

Now this has come under criticism, mainly from BUPA’s intermediaries who were shocked that they had no prior knowledge of this change and potentially some doctors who will view it as another attempt to interfere in the referral process and reduce choice.

The point of the matter is that this represents a bold move.

Prior to this, BUPA polled their intermediaries, existing open referral clients and some 12,000+ members, resulting in the majority preferring to make private medical insurance more sustainable above all other wishes, such as premium increases.

This shows that two industries, both facing huge health policy shake-ups on their respective sides of the Atlantic acting in very different ways in response to potential industry crisis; one protecting margins by reducing service delivery costs, the other pushing premiums up.

It would be unfair to compare the two in complete isolation which points me to recent news that Aviva UK has revamped its cancer cover in response to demand for a more comprehensive offering. It could be argued that this is nothing more than a PR exercise following the Mercer report, a study that found elements of cancer cover and care are confusing to corporate decision makers selecting medical plans, as well as claimants covered by those plans.

However Aviva not only responded to those claims by removing limits, but also added “aftercare” benefits including cover for consultations with dieticians and help with the cost of wigs (up to £100) and external prostheses (up to £5,000).

There is more evidence of innovation among UK Private Medical Insurance companies issuing money back guarantees as a method of gaining competitive advantage.

Whether UK or US based, Private Medical Insurance companies need to utilise the recent bravery and innovation which Aviva and BUPA have both displayed, especially now that the recent Health and Social Care Bill has been passed by the House of Lords, which will see a level of private healthcare competition incorporated into the NHS.