Archive for Medical Transcription Outsourcing

MedAssets deal could pave way for regional and provider-led GPOs

The VHA-UHC Alliance’s planned acquisition of MedAssets’ group purchasing organizations and consulting business will make health systems reconsider their GPO allegiances and open up the market to disruptive models, experts and industry insiders say.

Consultants, as well as former and current GPO executives, say the deal could push providers toward smaller, regional GPOs that focus on local sourcing and niches. The mega-GPO created from the merger could lose members who are uncomfortable with the GPO’s size and changes that may come after integrating the two companies.

MedAssets announced Monday that it had been acquired by Pamplona Capital Management for $2.7 billion, which would immediately sell its spend and clinical resource management segment to VHA-UHC for an undisclosed price. Pamplona said it would integrate MedAssets’ remaining revenue-cycle management business with Precyse, its own revenue-cycle software.

Several consultants expressed concern that VHA-UHC could become disorganized as it works to integrate yet another major acquisition. The company has said it would announce a new name in the coming weeks, as it continues to integrate the operations of VHA, a major not-for-profit hospital GPO, and UHC, an alliance of most of the nation’s academic medical centers. The merger between the two closed in April.

To make matters more confusing, MedAssets hasn’t quite integrated the culture of Broadlane Group after acquiring its former rival in 2010 for $850 million, said former Broadlane CEO David Ricker, who is now CEO of BroadJump, a developer of software that helps hospitals manage their costs and see what others are paying for supplies. Some former Broadlane members liked the GPO’s stricter, more-committed model instead of MedAssets’ more flexible models that let hospitals use other vendors, he said.

“You’ve got former Broadlane clients still with MedAssets who were still pushing very hard to get to that Broadlane model,” Ricker said, adding that those hospitals may not wait to see what VHA-UHC decides to do next.

Dallas-based Tenet Healthcare Corp., a former member and majority owner of Broadlane, announced earlier this year that it wouldn’t renew its MedAssets contract. It chose to sign a five-year contract with HealthTrust, a committed-model owned by HCA. Experts said Tenet officials wanted a higher-commitment model in hopes of it leading to better prices.

Former Broadlane executive Brian Pellegrini, now managing director of spend performance consulting at the Advisory Board Company, said he expects HealthTrust executives to go after MedAsset members, especially the legacy Broadlane customers. Those members “are probably going to be the ones with the hardest time seeing a path that makes sense for them to remain with this new organization,” Pellegrini said.

Ricker and Pellegrini said they expect emerging regional GPOs, often developed by health systems, will be winners in this deal. Smaller, regional GPOs tend to pick a niche, such as physician preference items or purchased services, and focus on delivering strong contracts mainly in that space that can supplement a provider’s national GPO.

“Hospitals are going to be a lot smarter about how much their supply cost goes up every year, and savings touted by some of these organizations just aren’t real,” Ricker said. “The only way to get your physician-preference item spend under control is to source locally and regionally, and that’s not what a massive org with (VHA-UHC) and MedAssets is going to accomplish.”

These smaller firms now have a chance to show hospitals executives why it pays to have more than one GPO, said Daniel May, a managing director at Huron Healthcare. He pointed to the Plano-based Texas Purchasing Coalition and Atlanta-based Partners Cooperative that have been successful honing in on certain supply segments, with TPC showing strength in physician-preference items and Partners focusing on commodities.

Ricker, Pellegrini and May all mentioned that provider-led GPOs such as Amerinet, which is owned by Salt Lake City-based Intermountain Healthcare, and HealthTrust could also benefit from the MedAssets fallout. Amerinet CEO Brent Johnson is betting on that too, as he transforms his organization from a traditional GPO to a professional supply-chain organization.

“These people do this to make money,” Johnson said. “Intermountain didn’t. We did it because we trusted that you were going to be a model to the industry, teach us best practices … and we’ll go from there. If down the road people just aren’t willing to get off the administrative fee and the traditional GPO, then maybe our model is wrong, but I don’t think so.”

Johnson fully acknowledged that national GPOs have a hard time adopting the committed model that tends to get the best prices from vendors. He sees customers doing increasingly more on their own and within their respective regions to get more efficient contracts, which is why Amerinet–which will get a new name in 2016–is rolling out consulting solutions and outsourcing services over the next year to help customers manage their supply spend beyond their contracts with the GPO.

“We see ourselves as a very unique alternative rather than being connected to a huge GPO that’s out of touch with service,” Johnson said. “People will understand the importance of total non-labor spend. That isn’t done through a traditional GPO.”

These services will be offered at a lower cost than Amerinet’s competitors and the GPO will charge fewer administrative fees, Johnson said.

As more and more customers look into creating their own regional GPOs, the new Amerinet could help them plan out their administrative fees structure and other complex systems needed to manage it, Johnson said. And if they don’t have the talent or resources to handle some of those processes, they can outsource them to Amerinet.

“We welcome the change (at MedAssets) because we think it adds flux and a lot of confusion in the market that allows us time to build our solution, and I think it builds a lot of uncertainty for a lot of their customers, which allows us to go to people who didn’t want to talk to us before,” Johnson said.

A lot of health systems were already considering their options for switching GPOs before this announcement, said Dr. Mitch Morris, U.S. leader of Deloitte’s providers industry practice. Many of his clients have been stepping back and evaluating what they’re getting from their current GPO relationships.

The new GPO entity created following the merger will have to put together a story of how it will perform even better and drive even greater value, Morris said.

“If I were them, I’d be talking to my customers and reassure them that not only are things not going to get worse, they’re going to get better,” Morris said. The impact as far as lost customers will probably not be felt for years, he added. The scale of the company will be hard to beat in its ability to negotiate better prices because of its volume, “but clients won’t feel very special when they’re a part of something so big,” he said.

MedAssets was successful because it offered an alternative model from some of its competitors, said Doug Pedersen, a managing director at Accenture Strategy who focuses on healthcare.

For example, while VHA-UHC’s Novation GPO and Premier have private drug label brands and lean toward contracts with just one vendor, MedAssets officials have said that they’re against private labeling and that their customers prefer multi-source contracts. VHA-UHC executives have similarly pointed out that MedAssets hasn’t engaged in guaranteed-volume contracts that some believe can prevent drug shortages, a known strategy for Novation.

“It’s up to the purchaser to bring in the value of what you’re buying without breaking it,” Pedersen said. “It wouldn’t be wise to just take their members.

MedAssets

want to have the ability to demonstrate to all of those customers that they have a really good product.”

 

6 Empowering Benefits of Medical Transcription Outsourcing

Medical transcription business is on the rise and so medical practitioners need to decide whether they wish to conduct medical transcription in-house or outsource it to an offshore location. In this article; we look at the various benefits that can be derived from outsourcing medical transcription services to an offshore medical transcription provider.

Medical transcription business has become quite popular. But doctors are so busy with their day-to-day schedule; it becomes very difficult for them to transcribe the documents at the time of patient visit. Hence; they outsource the medical transcription service to a third party. Let us look at some of the benefits of outsourcing medical transcription services:

  • Cost effective: The major reason for outsourcing medical transcription service is the cost benefit that can be derived from it. Offshore locations give tremendous opportunities to medical practitioners to get the transcription services done at a cheaper cost that is normally associated with US. Some of the additional benefits of outsourcing transcription services to off-shore locationare:
    • Lower per line cost
    • Lower direct labor costs
    • Lower costs in HR, administrative and training areas
    • Lower annual maintenance costs for maintenance of digital and transcription equipment
  • Exploits industry experience: Clients stand-out from the rest of transcription industrywith the help of experience gained by them. They have significant experience working on wide array of medical records like:
    • Operative Note
    • Discharge Summary
    • Progress Note
    • Emergency Room Procedure
  • Exploit time zone differences on offshore locations: The time zone difference between India and US gives an advantage to the clients to download, transcribe and transmit the documents overnight so that US medical practitioners get the transcribed document the following working day. This ensures fastest turnaround time in the industry.
  • High quality and accurate medical records: Medical transcription service providers adhere to globally standardized, HIPAA compliant medical transcription processand follow stringent multi-level QA procedures. The QA procedures include:
    • Editing
    • Proofreading
    • Reviewing of completed records

Medical transcription service providers ensure that quality of the transcribed documents is maintained. They also enforce penalties to those who do not adhere to the quality standards and turnaround times.

  • Reduced HR responsibility in Hiring, Training and Administration: Human Resources departments of healthcare facilities and hospitals can substantially reduce the time, resources and effort on hiring, training and maintaining medical transcription staff on their payroll. Medical transcription is required across all the departments and functionalities, 24 x 7 including on-call and emergency room procedures. Hence; if the transcription services are outsourced then the number of staff required for payroll processing, hiring and administrative responsibilities are reduced drastically.
  • No affect of seasonal fluctuations in staffing: U.S. medical transcription business is seriously affected by seasonal fluctuations. During winter patient consultations are on the rise and during holiday seasons such as Christmas and Thanksgiving; hospitals are largely understaffed. When the medical transcription services are outsourced to offshore locations, these seasonal fluctuations in staffing do not affect the business.

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 GREAT WAYS TO PREPARE FOR MEDICAL TRANSCRIPTION TEST

Medical transcription companies select medical transcriptionists after taking initial tests. In this article; we look at the different ways through which medical transcriptionists can prepare for the test.

Medical transcription companies have different evaluation techniques for assessing the skills and knowledge of an MT during the hiring process. Medical transcription tests generally consist of grammar, vocabulary, and typing tests with selected voice files. They can be stressful if proper preparation is not done before the interview. These tests may include: grammar, vocabulary and typing tests with selected voice files. Let us look at some of the ways to prepare for medical transcription test:

  • Carry reference material if allowed by the medical transcription company: Most of the medical transcription companiesallow medical transcriptionists to use reference materials during medical transcription testing. If that is the case, then carry your reference materials like: dictionaries, medical word books, favorite medical websites etc. in an organized manner so that they are handy and can be useful during test.
  • Take a good nap night before the test: It is always advisable to have a good night’s sleep before taking the medical transcription test. You will feel refreshed and energetic for the all important test. Start the day with a fresh mind. Take a hot bath before the tests; so that you are well awake and alert for the test.
  • Disconnect with all distractions of the outer world prior to the test: Before you start off with the transcription test disconnect from all the possible distractions of the outer world. Inform your family members and friends not to distract you from the test. Turn off your mobile, radio etc. before initiating the test.
  • Relax and take deep breath before answering a question: When you start a test, take a deep breath so that your mind does not turn out to be blank. Even if you are unable to answer a particular question, skip to the next question. You can then go back to correct or complete the answer. Always revise the answers before submitting it to the employers.
  • Take a short break before the test: It is always advisable to take a short break before going for the typing test. Browse internet on mobile, listen to music on radio, see text messages, walk around etc.
  • Always leave some space for difficult words in the transcribed documents: The actual typing test will determine your appointment. Hence; it is very important to relax and breathe easily before taking the test. There are times when medical transcription companies give you difficult dictators. Hence; it is always advisable to keep blank spaces. Do not guess at a patient’s medical records. A medical transcription company will hire you quicker if you leave blanks than guess.
  • Always proof-read the dictation before sending: After completing the transcribed document always re-listen to the dictation for proof. If you have left some blank spaces then try to fill them up. If you have made some mistake then correct it immediately. Take a break, relax and then run the spell-check option for accurate results.

A good medical transcriptionist would always take care of the points mentioned above.

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.

3 Indispensable Characteristics Prevalent in Good Medical Transcription Companies

Medical transcription services have become an integral part of the health care domain. With so many medical transcriptioncompanies already in the market, it becomes very difficult for the medical practitioners to identify the right company for their needs. There are three indispensable characteristics which need to be prevalent in good medical transcription companies:

  • Dependability of the service provider: According to HIPAA guidelines; personal information of the patient should not be displayed to another identity except the medical examiner. Hence; care should be taken that the information provided is safe and secure with the medical transcription company. Check the clientele of the service provider. It will give you a fair idea of the goodwill of the provider. Also check the quality of the transcription services including accent and technologies used in transcribed document.
  • Efficiency of service: The most influential deciding factor in selecting a medical transcription service provider is the value provided by the transcription company to the medical practitioners. A quick turnaround time at a feasible cost is an additional bonus. Usually good transcription companies take less than 24 hours to deliver the report. However; there are other companies which provide the services in 4 to 6 hours with an additional cost. A good transcription company will always charge you on number of lines in the transcription. You should always ask if they charge any additional cost for corrections in the transcription.
  • Type of technology adopted: Lots of technologies are used by medical transcription companies including toll-free phone dictations, recording on hand-held digital devices and PC applications. A good medical transcription company will always use latest technology in a secured manner; so that the information is safe.

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.

5 Definite Reasons To Integrate Transcription With EMR System

Medical transcription business has reached a new milestone with the integration of eMR. In this article; we look at different reasons to integrate transcription services with eMR system.

With the emergence of Electronic Medical Record (EMR) system; there was a big question mark over the medical transcription industry. But with the synchronization of both these processes medical practitioners have been able to save lot of time, increase productivity and get accurate documentation in a timely manner. Let us now look at some of the reasons to integrate transcription with eMR system:

  • Quick and efficient output: Medical practitioners are usually busy in their clinics/practices so they do not have time to type patient’s notes into eMR system. Hence; dictation systems helps medical practitioners in saving time and directly integrates the transcribed document in eMR system. This enables the doctors to keep up the pace with their productivity rate.
  • Synchronization with eMRs: eMRs have significantly reduced the workload of medical transcriptionists. With the help of the software the transcribed documents can be directly inserted in the eMR of the respective medical practitioner by using Discrete Reportable Transcription (DRT). eMRs are meeting the “meaningful use” requirements, and a complete and accurate patient visit record is being recorded.
  • Generates profit: It becomes quite cumbersome for the medical practitioners to stop typing into eMR during each patient visit. This results in reduced patients which ultimately reduces the profit. Using a lucrative dictation system, medical practitioners can continue to see more patients thereby increasing the profits.
  • Decreases data-entry costs: Medical practitioners cannot be used for data-entry tasks. They are too good of a resource to be wasted on data-entry tasks. If you hire an in-house medical transcriptionist you need to pay salary and benefits. Voice recognition systems are too costly and show a higher error rate than a human transcriptionist.
  • Accuracy of information: If the medical practitioners type their own notes it can lead to higher error rate. Usually they have to shift from one appointment to another which can affect the accuracy of the notes. Also there are times when medical practitioners use copy-paste or copy-forward function on eMR which results in inaccurate information being stored on patient’s record.

With the amalgamation of eMR with Medical Transcription business it becomes very easy for Medical Practitioners to conduct their day-to-day activities. A global medical transcription company exploits the services of eMR in an expertise manner; and gets the transcribed documents done in a quick time.

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.