Are you hearing your healthcare corporate office talk about saving money and seeing more news about medical transcription companies thinking about outsourcing? Almost all corporations are talking about it. It seems like they can never get enough profit, right? Wake up! Start looking now for new opportunities in medical transcription.
Here is just one example that I saw as I was looking for content regarding business transcription. While the article I read was about medical transcription, it should make you think. Why would a company want to consider outsourcing in the first place?
First, let’s look at the article I read that made me realize that I should alert my readers. You need to be aware of the distinct possibility your job could be at risk, especially if you are a full-time employee. Ouch, that hurt, didn’t it?
Here is the article:
SPH could lay off medical transcriptionists
By: MICHAEL ARMSTRONG
Thu, 02/01/2018 – 9:58am
Five employees working as medical transcriptionists at South Peninsula Hospital could lose their jobs if the hospital follows through with subcontracting their work to a Lower 48 company. Teamsters Local 959 challenged the proposed layoff by filing a grievance, later denied by the hospital.
SPH is not the only company that may be considering this.
The article went on to say:
In that same letter, Huff Tuckness said that medical transcription work would be subcontracted to MModal, a Franklin, Tennessee, company.
Benefits of Outsourcing Medical Transcription
An article put out by Healthcare BPO examined the popular 2018 predictions pertaining to medical transcription. One of the items they mentioned is that it is very likely that the outsourcing of medical transcription to Asian countries. Onsite medical transcription departments are going to find it more difficult to compete with the turnaround times and quality that these overseas companies can provide. So let’s look at just some of the benefits of outsourcing medical transcription.
- Outsourcing can help streamline a company’s operations allowing the doctors and specialists to spend more time with their patients.
- Depending on which company is outsourced to, the company can exceed expectations when it comes to speed, reliability and accuracy.
- There is no need to invest in training or hiring in-house specialists.
- Capital expenditures and labor costs can be reduced.
- Compliance of evolving HIPAA and HITECH regulations can be made the responsibility of the company doing the medical transcription.
The Healthcare Industry Is Not Flying Solo
Medical transcription is a wide-open field. So you think that you might not have to worry about losing your job. After all, your specialty is legal transcription or business transcription; you are safe, right?
As I mentioned in the beginning of this post, almost all business entities think about how they can send off work to independent contractors at one time or another. But, from what I am reading, if you do medical transcription, you must think about what your options are going to be in the future. Will you need to change your career into an entirely different field? Or, will you stay in the transcription field.
If the latter, make sure that your keep your transcription tools handy in order to be successful.
Borlok Transcription started doing transcription in 2006, and started out doing all sorts of transcription. We started out in the freelance marketplaces like Elance.com and oDesk.com (now known as Upwork.com). It took us awhile to feel comfortable doing transcription, but we hung in there – and you can too!