Medical Transcription Service: Tools For Cost Comparison
A quality medical transcription service company can help you reduce operating costs
, increase productivity and improve patient care. While there are many things to consider when choosing a medical transcription service, this article will discuss how costs are calculated and provide you with tools for cost comparison.When it comes to choosing a medical transcription service company, give preference to those who will take the time to fully explain how they charge for medical transcription so that you can compare "apples to apples" when evaluating your choices. Most physician practices are surprised to learn there are many ways a medical transcription service charges per line.
How does a Medical Transcription Service Calculate Costs?
Medical transcription service can be billed many different ways. Medical transcription providers have been known to calculate rates based on the page, report, minute, word, gross line, character, keystroke and other metrics. All of these methods are highly variable and can dramatically affect the per line rate. It is important that you understand exactly how you will be billed.
Some of the most popular methods of billing include:
- ASCII Line
- ASCII Line 65-Character
- 65-Character Line
- Gross Line
- Gross Page
- Per Minute
- Visible Black Character
- ...and many others
How Can I Compare Medical Transcription Service Costs and Choose the Right Company for my Practice?
Over the years, medical transcription service providers have used a variety of methods to calculate lines of transcription and some have become very creative. Unfortunately that leaves you to determine if you're actually getting the best price for your transcription services. Most medical transcription service companies charge per line of text. Some may define lines with fewer characters or count each hard line break as a new line, so be sure to get all of the details.
One of the best ways to compare medical transcription service costs is to provide each of the companies in consideration with a sample document. Have them price it out for you so that you can see how they distribute their rates. Remember, though, that because of varying per line rates and counting methods, the lower price won't always be the better choice.
Find out what other services are included in the rate. For example, some medical transcription service companies will charge for headers, font changes or hard returns, while others will include these services at no additional cost.
In addition, some medical transcription providers will tack on extra costs for services like start-up fees, template creation, integration fees, training, customer service and/or sales tax. The important thing to remember is that you compare "apples to apples" when it comes to line rate calculation. Ask all medical transcription service companies that you are comparing to provide you with a clear definition of their line counting methods and include fees for additional services and support.
Lastly, many medical transcription companies now offer free trials of their services - take advantage of this. It will be worthwhile to send a recording or two to each of the companies you are investigating. For each of these trials, also pay attention to the details of how the provider works and results such as:
- How long does it take them to respond?
- Are their customer service reps helpful and friendly?
- Is their cost comparison fair and accurate?
- Can they provide you with documentation proving compliance with security and privacy requirement?
- What is their turnaround time? 24 hours, 48 hours or longer?
Whether you are a solo provider, small physician practice, mid- to large medical practice or community health center, please remember to consider how medical transcription service providers define a line of transcription.
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