What is medical transcription? And what are its benefits - to the physician? the patient? and the medical transcriptionist? I have posted some that might be of use to your query.
Medical transcription is the process of converting (specifically - transcribing) dictated audio medical reports of health care professionals (doctors) that pertains to the patient’s medical history - his prognosis, diagnosis, lab results, psychiatric evaluations, office evaluations, emergency room reports, and operative reports into printed text or into electronic data text formats by a medical transcriptionist, either to record or update the patient’s medical status as well as a reference for assisting patients in claiming their health care benefits from insurance companies or suing a person.
Its key benefits are listed below:
To the Doctor:
1. Information is more accurately conveyed over the scribbled notes of medical doctors. The use of text formats rather than relying on hand written notes reduce diagnostic errors and misunderstandings.
2. It reduces the work load for physicians. Doctors can quickly attend to another patient who needs medical attention.
To the Patient:
It assists in insurance claims and legal issues. The patient can readily take his insurance health care benefits or if he wants to sue another person for physical damage, he can use it as an evidence in court.
To the medical transcriptionist:
1. It provides a stable income. medical transcriptionists are paid 6-7 cents per line, which if we calculate the average lines per day of an MT, he would earn at least 40 Dollars per day. Which is already high, if the employee works in outsourced countries.
2. Provides home-based work. Ultimately, MTs aim for home-based work because it literally increases the pay rate.
As of now, this profession has proven to be one of the fastest growing professions in the health care industry. It is now a world-wide phenomenon. According to the U.S. Department of Labor, the medical transcription business is estimated to be worth US$10 to $25 billion annually and growing 15 percent each year. This is faster than the average for all occupations.
Although, more and more MTs are becoming home-based, there are still a lot that work in clinics, hospitals, and doctor’s offices.
All in all, medical transcription is a lucrative source of income as well as a great and unique profession as it offer a lot of benefits to the worker.