Because of the unique nature of the English language, transcription services become an important part of business when speech is recorded or dictated.  When we transcribe we give direct specification to the pronunciation of words.

If every day spelling reliably indicated the actual pronunciation of words then insurance transcription likely wouldn’t be necessary – but it doesn’t in most cases.  This is due to the fact that spelling in the English language is blatantly irregular.

An example is the English word “write”.  We know that the W must be ignored.  When pronounced, it is identical to “rite” and “right”.  These words, known as homophones, could be misinterpreted if one were merely listening to a recorded insurance claim investigation.  It would be up to the listening to identify the context.

Those processing insurance claims and listening to these investigations have to contend with the ambiguity inherent in a lot of spelling sequences.  Some spellings are entirely ambiguous.  Consider hearing the word “entrance” – is the speaker using the words “entrance” or “entrants”.

Even an individual with an advanced understanding of the English language, such as an employee tasked with insurance transcription in house, could sometimes forget important phonetic rules – even basic ones.  Outsourcing to an insurance claim transcription service provides insurance companies with a professional experienced in phonetic transcription, ultimately producing more accurate transcriptions.  Something that is critical when documentation much be used for financial and legal representation around events that occurred.

This is also why speech recognition and voice to text software should be avoided.  While an affordable solution, there are typically issues with accuracy where phonetics are concerned.  Software does not often understand the context in which a word is used.  It uses algorithms to assume the most appropriate spelling or word based on the speech of the individual.  Speech issues in a recording could lead to improper insurance transcription – which can lead to problems if legal issues arise surrounding a claim.

Get Claims Processed Faster with Outsourcing

Echo Documentation Solutions is a national dictation and transcription solutions and technology provider making transcription faster, less expensive and more accurate.  Contact us today to discover how Echo Documentation Solutions’ insurance transcription services can help you improve the quality and accuracy of your claim investigation transcription.

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An issue that businesses consistently face, especially insurance companies, is that in-house transcription takes up a great deal of time and man power.

While outsourcing insurance claim transcription is a viable option, many organizations are opposed to this based on the assumption that there is a high cost involved.  What they don’t consider is that keeping transcription in-house is far more expensive.

Salaries & Wages

Unless you have an office staffed with unpaid interns, every employee costs money.  Your employees are required to transcribe that data and – depending on the volume – this can lead to overtime depending on claim load.

If your employees are on salary and work extended hours, you can expect a loss of productivity due to burn out.  Employees who work extended hours can’t effectively maintain that pace over the long term.  As a result the quality suffers, or you’re forced to bring on additional staff to cover the additional claim transcriptions.

Management Expenses

You’d like to be able to trust your employees implicitly.  Unfortunately, the work of any employee typically needs at least some sort of review.  Insurance claim transcription requires review for accuracy and must be tracked to ensure they are completed in a timely manner.

For managers, this takes time away from reviewing and managing more critical components of the business.  If you hire individuals specifically for the purpose of reviewing and finalizing insurance transcription then you’re paying higher wages for additional supervisory positions you wouldn’t need if you were outsourcing to insurance transcription services.

Information Technology

Transcription can’t be done accurately without the right technology.  This includes costs such as purchasing equipment, maintaining that equipment (with in-house or outsourced IT professionals), and training employees on the use of specialized hardware and software for transcription.

Overflow and Delays

Every action results in cost, especially delays in processing insurance claims.  It’s not uncommon for delays to force the hand of managers where they hire on help quickly, flail under the backlog, or wind up outsourcing some of the transcription.  However, when that’s done at the last minute with a tight deadline the outsourcing typically costs more to ensure a rapid turnaround.

The Best Alternative

Insurance claims transcription services provide a great service and is one of the primary ways insurance agencies find relief from a heavy work load and tight budgets.  With a quality transcription service, insurance companies see a number of benefits.

• Improved quality of claim transcription resulting in more accurate processing
• Reduced man hours among in-house staff
• Elimination of the need to contract additional staff based on claim volume
• Reduced delays in transcription due to back logs
• More productive employees capable of focusing on critical tasks

Get Claims Processed Faster with Outsourcing

Echo Documentation Solutions is a national dictation and transcription solutions and technology provider making transcription faster, less expensive and more accurate.  Contact us today to discover how Echo Documentation Solutions’ insurance transcription services can help you save money and improve employee productivity.

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