Future Outlook For Medical Transcription
According to the U.S. Department of Labor, the future outlook
for medical transcription looks good. This is a lucrative, in
demand-career with great growth opportunities.
If you're considering a medical transcription course or are
already taking one, this is good news. It means you will have
plenty of employment as well as financial opportunities.
Although, medical transcription is predicted to grow and remain
stable, there are a few common concerns among the MT community.
These are the most common.
Will voice recognition replace transcriptionists?
There has been talk for a long time about voice recognition and
new software which will replace the jobs of MTs. This will not
affect you any time soon. There are a number of growing issues
and concerns with this software. It is not being used in a large
setting and has not yet replaced the need for medical
transcription on the whole.
Medical terminology is complex and the regulations for patient
records are stricter than ever. At present, the most accurate
way to transcribe these records is by trained MTs. According to
the Medical Records Institute, which actually promotes the use
of computerized medical records, current research shows use of
speech recognition in the medical fields is less than 1%. What
about offshore transcription companies? Some companies are using
offshore transcription companies to save money. However, while
outsourcing medical transcription to offshore companies can save
money, many companies are not following this route.
There are various concerns and issues with outsourcing to
offshore companies. Offshore MT companies are not required to
comply with HIPPA regulations. This means they don't follow the
HIPPA security and privacy guidelines to safeguard medical
records.
In some cases it can be done, but mandatory agreements required
by HIPPA guidelines must be signed. And precautions must be
taken so that data isn't sent overseas. The overseas vendors
must log on to U.S. database to do their work, which means extra
systems and measures must be put in place. This can be expensive
and time consuming.
Although, some companies may find the need for saving money is
worth these risks, most won't.
I agree with the U.S. Department of Labor Statistics and believe
the future of medical transcription looks good and there are
many opportunities out there for the taking.
However, although the future of MT looks promising, times HAVE
changed. MTs of today should start adapting to the ever changing
business technology around them.
The technology is there and available for us to take our
businesses to the next level. With a few clicks of a mouse we
can build our own MT website, set up an online diary or download
files for transcribing.
Be smart in your business, keep up with the times, adapt to
technology and your future outlook will look better than ever.