medical billing transcription supplier information

One question that healthcare organizations constantly ponder is: How can we reduce days in accounts receivable and accelerate the revenue cycle? Finding an answer to that question is essential to the success of any healthcare organization.

One strategy that healthcare systems and hospitals often overlook is the potential impact of restructuring transcription services to reduce days in accounts receivable, including the possibility of outsourcing those services. Business process outsourcing models have become commonplace in many industries. Healthcare organizations are learning the positive effects of information technology (IT) and supply, and are now beginning to understand the opportunities and benefits of outsourcing transcription and document delivery.

Health Midwest, recently acquired by HCA and now the Midwest Division of HCA, is a family of hospitals and healthcare services in the Kansas City, Mo., area with 1,787 inpatient beds and a transcription volume of 36 million lines annually. By centralizing and outsourcing its transcription services, the system experienced significant cost savings. The change also contributed to a reduction in days in accounts receivable.

Following are the steps the organization took to assess and improve its transcription services.

Step One: Situation Analysis

Previously, Health Midwest had outsourced transcription among more than 20 different smaller companies and one primary provider, the largest medical transcription company in the United States. Some of Health Midwest's hospitals had several transcription partners because departments such as radiology, pathology, and cardiology all used different transcription vendors. This decentralized approach had occurred because each facility continued to maintain relationships with its own transcription partners as Health Midwest grew and merged with each hospital and facility.

However, this decentralized model was not efficient. Health Midwest was experiencing significant backlogs and delays due to poor turnaround times and lack of responsiveness from its primary transcription provider. Service often suffered because many of the vendors did not work over weekends. There was no single consistent, verifiable methodology regarding invoice reconciliation.

Also, Health Midwest wanted to develop a systemwide electronic medical record (EMR), but could not do so efficiently when trying to interface with so many disparate transcription systems.

# posted by Medical Information : 1:43 AM