Archive for May 19, 2012

Four Vital Features Favoring The Use of Fixed Cost Pricing Model For Medical Practitioners

Different pricing models are followed by different Medical Transcription companies. In this article, we look at the distinct features of fixed cost pricing model for transcriptions, which makes it indispensable for medical practitioners.

Medical Transcription companies have different pricing models for transcription services according to the needs of the client. Some of the pricing models offered by Medical transcription companies include:

  • Fixed Cost Model
  • Time and Material Model
  • Offshore Development Model
  • Cost-Plus Model
  • Transactional Model
  • Milestone and Incentive Based Model

With so many pricing models at the disposal; it becomes very difficult for Medical practitioners to opt for the right pricing model for the transcription services. Each of these pricing models has its own advantages and disadvantages. Let us now look at some of the inevitable features of Fixed Cost Pricing Model, which makes it indispensable for Medical practitioners:

  • Pre-defined costs: Fixed cost pricing model does not involve any hidden cost. Unlike other pricing model where the medical practitioners cannot predict the end cost of the project, in fixed cost pricing model the scope of the work and costs attached with the project are pre-defined. Hence, this feature becomes a decisive criterion in opting for fixed cost pricing model over other pricing models.
  • Result-oriented project management: Unlike other pricing models, fixed cost pricing model is result-oriented, and takes project timeline as an ultimatum. The major objective of fixed cost pricing model is getting favorable results, rather than scrutinize methods of the performance. As a result, it is widely used for government projects, because it provides more conviction over the final result.
  • No question of cost escalation: During inflation, medical transcription companies face the risk of cost aversion, which is completely negated with the implementation of fixed cost pricing model. Hence, there is no question of cost escalation in fixed cost pricing model.
  • Ideal for small projects: Fixed cost pricing model is ideal for small projects or projects with pre-determined requirements, where the output needs to be delivered within constrained budget.

Fixed cost pricing model produces a win-win situation for the medical transcription company and medical practitioners. Mediscribes is a renowned medical transcription company that uses fixed cost pricing model for delivering transcription services to the clients. To learn more about our Services, click here.

About Mediscribes

Mediscribes, Inc. is one of the fastest growing Medical Transcription & document management systems providers in United States, based in Metro Louisville. Mediscribes is an ISO 9000-2001 certified company, rendering cost-effective consolidated transcription solutions to major hospitals, clinics, and other healthcare facilities in United States. Mediscribes is the most value-providing organization in the market today with a strong presence in America and offshore locations. The firm specializes in providing highly accurate transcription adhering to ADHI guidelines in unbeatable turnaround time with robust & proven document management system as its vantage point to its esteemed clientele.

Mediscribes provides end-to-end transcription solutions as its primary offering. For our customers, we focus on dictation systems, both ASP as well as enterprise level solutions, with the help of our most valued asset ezVoiceIntelligence (ezVI), providing specialty-specific qualitative transcription along with a “whole nine yards” document management system. Mediscribes specializes in EMR data integration as well. Our data dispatch department is highly proficient in integrating transcribed reports into any type of EMR. Healthcare facilities that do not have EMR get the option to use our web-based file monitoring interface called eTranscribe for global access to their data. eTranscribe has special features of E-signing, E-faxing, auto-printing, and user-friendly document search criteria.

For additional information, please visit http://www.mediscribes.com

Media Contact (Mediscribes)
Mike Perry
marketing@mediscribes.com

Mediscribes
12806 Townepark Way
Louisville, KY 40243-2311
Ph: 502-400-9374
http://www.mediscribes.com
http://www.bizscribes.com
Copyright © 2009. Mediscribes.
Mediscribes is a registered trademark. All Rights Reserved.

7 SCINTILLATING BENEFITS OF HIRING IN-HOUSE MEDICAL TRANSCRIPTIONISTS

There are lots of medical transcription companies that opt for outsourcing medical transcriptionists instead of in-house medical transcriptionists. In this article, we look at various benefits derived by an organization, if they opt for in-house medical transcriptionists.

Medical Transcriptionist is one of the most demanding jobs present in the market. With the help of Medical Transcription services, medical practitioners can lessen their burden of electronic documentation for all patient records. But the major question that the medical practitioners face is, whether they wish to outsource these services or hire someone in-house. We are all aware that there are two options available to medical practitioners to take care of the transcription needs. They are:

  • In-house
  • Outsource

Let us now look at some of the benefits of hiring an in-house medical transcriptionist:

  • Availability of staff member throughout the day:One of the advantages of recruiting an in-house medical transcriptionist is that their services can be rendered throughout the day. Their day-to-day tasks includes:
    • Correcting errors
    • Making changes
    • Carrying out new tasks on regular basis

They are also trained to become accustomed with:

  • Medical terminology
  • Lexicons associated with the medical profession
  • Brand names and phrases which help medical transcriptionists to carry out their daily tasks smoothly
  • To maintain secrecy for honoring any confidential agreement: If the organization has signed any confidential agreement due to sensitivity of the information to be derived, it is always recommended to opt for an in-house medical transcriptionist. This makes it easier for the organization to keep the flow of information in check. The in-house medical transcriptionist is directly accountable for honoring the confidential agreement.
  • Flexibility in responding to changing business environment: If there are abrupt changes in the business environment of the organization, hiring in-house medical transcriptionists is the only option. They can adapt to the changing business situation, and can apply their logic in providing necessary services swiftly.
  • Total control of manager: Manager has total control over in-house medical transcriptionists. It is much easier for the managers to manage the transcriptionists effectively, as they are working in the same domain/building of the organization. They can even give regular instructions to the in-house medical transcriptionists about their day-to-day activities.
  • Performance based appraisal: The in-house transcriptionists are full-time employees of the organization. But their appraisal is based totally on performance, hence, they have the additional incentive to raise their bar, and prove their efficiency to grow in the organization. This makes the performance of the in-house transcriptionists formidable.
  • Increased quality and efficiency: If medical transcriptions are outsourced from a third party, the files that the organization receives may not be of superior quality. It is also possible that the transcribed files do not reach on time. Even if the organization gets the files on it, checking them to ensure the quality becomes a headache. Hence, it is always advisable for the organization to recruit in-house medical transcriptionists, who can deliver the quality on timely basis.
  • Preserving sensitive data with the organization: When an organization outsources medical transcriptions to a third party they take a risk of losing sensitive data to the outsourced party. By hiring in-house transcriptionists, the organization can preserve the sensitive data and honor their part of agreement with the client.

Recruiting in-house medical transcriptionists has its own sets of advantages and disadvantages. Being a Global Medical Transcription Companie, we understand the needs of our clients, and can provide customized solutions as per their needs. If you wish to learn more about Mediscribes, click here.

About Mediscribes

Mediscribes, Inc. is one of the fastest growing transcription & document management systems providers in United States, based in Metro Louisville. Mediscribes is an ISO 9000-2001 certified company, rendering cost-effective consolidated transcription solutions to major hospitals, clinics, and other healthcare facilities in United States. Mediscribes is the most value-providing organization in the market today with a strong presence in America and offshore locations. The firm specializes in providing highly accurate transcription adhering to ADHI guidelines in unbeatable turnaround time with robust & proven document management system as its vantage point to its esteemed clientele.

Mediscribes provides end-to-end transcription solutions as its primary offering. For our customers, we focus on dictation systems, both ASP as well as enterprise level solutions, with the help of our most valued asset ezVoiceIntelligence (ezVI), providing specialty-specific qualitative transcription along with a “whole nine yards” document management system. Mediscribes specializes in EMR data integration as well. Our data dispatch department is highly proficient in integrating transcribed reports into any type of EMR. Healthcare facilities that do not have EMR get the option to use our web-based file monitoring interface called eTranscribe for global access to their data. eTranscribe has special features of E-signing, E-faxing, auto-printing, and user-friendly document search criteria.

For additional information, please visit http://www.mediscribes.com

Media Contact (Mediscribes)
Mike Perry
marketing@mediscribes.com

Mediscribes
12806 Townepark Way
Louisville, KY 40243-2311
Ph: 502-400-9374
http://www.mediscribes.com
http://www.bizscribes.com

Copyright © 2009. Mediscribes.
Mediscribes is a registered trademark. All Rights Reserved.

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