The Future and Foundations of Medical Transcription

There was an interesting article in For The Record Magazine last month that the medical transcription factoring specialists at PRN Funding wanted to share with our medical transcription readers–Utterly Essential. Keep reading for a brief overview of the article:

Could it be that the old way of doing things is more effective than the new? When it comes to medical transcription, many doctors still stress the benefits of dictation for providing patient care that is at once more personal, nuanced and efficient.

In his 2007 article in Family Practice Management, David E. Trachtenbarg, MD shared that “clicking or typing text multiple times is generally slower than dictating…Using discrete data, it took me 95 seconds to complete 17 clicks for yes-or-no questions, five text boxes that required typing and two drop-down lists. In contrast, it took me 41 seconds to document the same history using dictation.”

Furthermore, Jason Mitchell, MD, was quoted in Utterly Essential as saying that dictation can “capture nuances and subtleties that cannot be communicated strictly through EHR fields.”

While dictation certainly makes relationships between individual patients and doctors more personal, meaningful, and effective; in the grand scheme of data collection, the tape recorder certainly has its shortcomings. Even with burgeoning vocal-recognition technology like Apple’s “Siri,” harvesting, codifying and putting dictated notes to good use is a process that presents many challenges to the health information industry.

After all, EHR has many benefits. Though it has been criticized for turning highly-paid doctors into data-entry clerks, medical practices are experimenting with cost-effective methods of implementing the process.

One method-which is rapidly becoming dated-involves a scribe whose job is to communicate with the physician and record the finer points of the patient’s case. This allows the doctor more time to see more patients.

Though it would seem to make sense to have nurses act as scribes, Jason Mitchell, MD, argues otherwise. Mitchell, who acts as the assistant director of the American Academy of Family Physicians’ Center for Health IT, believes it to be “more cost-effective to bring someone in on a lower pay scale.”

According to For the Record, Mitchell goes on to assert that “as software becomes more developed… the scribe’s role will eventually become obsolete.”

What does this mean for our medical transcription factoring clientele? It means that the future of EHR has to incorporate, in some meaningful way, the efficient, interpersonal process of dictation. Software must be developed that can enter dictation into EHR, codify it for future diagnostic purposes, and save it for the physician’s use.

By improving the process of extracting discrete data from patients’ narratives, the combined forces of dictation and EHR could save lives in both the present and the future, using all of the methods and information from the healthcare industry’s past.

Social Media for the Mind and Body – Jiff Reveals ‘Circle of Life’

If you can believe it, there is now a social network devoted to the collective wellness of healthcare consumers. Members of Jiff Inc.’s new platform, Circle of Health, will be able to embed a profile at the center of their very own network of friends, family, doctors, nurses, and insurance agents.

According to last month’s edition of the health information magazine, For the Record, Circle of Health (a HIPAA-approved service) will allow consumers to “share medical documents, videos, and information useful to managing health and wellness” with a network of three to fifteen people. This limited size will allow for greater privacy, facilitating simpler interactions among members of each network. Furthermore, Jiff is pushing to further simplify their platform by constructing an array of applications for member use.

The service may prove revolutionary, says Jiff CEO Derek Newell: “To date, healthcare has been communicated only on paper and through phone calls and office visits. This is a $2.7 trillion industry without an effective way for physicians to communicate and effectively keep track of the patient’s progress between office visits. Circle of Health changes that.”

Our medical transcription factoring clientele can find out more about this service on Circle of Health’s website.

Home Healthcare has a Banner Month

Our home healthcare factoring clientele should take pride. The industry has contributed a whopping 10 percent of an estimated 69,000 new jobs added to the U.S. workforce this past May. Though (according to this jobs report) the total number of added jobs landed well below most economists’ forecasts, healthcare continues to grow.

According to Vicki Hoak of the Pennsylvania Homecare Association (whose website informed this report), “This demonstrates what we in the homecare industry have known for years. Not only is homecare clinically-advanced, cost-effective and patient-preferred, it is also a job creator and an economic force to be reckoned with.”

Reiterating the Rights of Home Caregivers in Pennsylvania

The homecare factoring specialists came across a worthwhile article in the Pennsylvania Homecare Association’s weekly e-newsletter, and we wanted to share the details below:

Officials in the Pennsylvania Department of Health recently met with Susan Heinle of Visiting Angels and the Pennsylvania Homecare Association (PHA). They discussed the legal roles and abilities of homecare aides in medication assistance, and of “nurses employed by private duty homecare agencies and defining specialized care for homecare agencies and registries.”

Currently, the law prohibits Pennsylvania home nurses like Heinle from assisting their patients with the application of basic medications such as eye drops, topical creams and pills. These limitations affect both patients and families, who wish “to help their loved ones stay at home as they age but need help with medications.” PHA CEO Vicki Hoak decries the state of things: “not being able to provide this assistance is very frustrating to many of our members because families simply can’t afford to have a nurse come to the house just to hand over pills.”

Following this meeting, the Department of Health has decided to formulate a series of FAQs that, according to a press release on the PHA website, “will address medication assistance and provide further clarification on what is and what is not specialized care. This clarification is expected to be released in late summer.”

The goal of these discussions is the eventual optimization of home nurses’ legal capabilities. The effectiveness of the industry and its ability to assist its patients depends on the reformation of Pennsylvania’s legislation as it currently stands. These reforms would greatly benefit our homecare factoring clients in their respective missions-the improvement of the lives of each and every one of their clients. For more information, visit the PHA’s website.

CMS Approves New Rates for HCBS Waivers in Pennsylvania

Last week, CMS approved new rates that were proposed by the Office of Long-Term Living (OLTL) for those home care agencies that provide services under HCBS waivers, including Act 150, Attendant Care, Aging, CommCare, OBRA and Independence.

A couple of different regions were affected by the new rates:

Allegheny, Beaver and Westmoreland Counties
Decrease in reimbursement for PAS (personal assistance services) from $21 to $17.16.

Philadelphia County
Increase in reimbursement for PAS from $15.76 to $19.12.

Montgomery County
Decrease in reimbursement for PAS from $24 to $19.12.

There are a couple more counties throughout the state of Pennsylvania that will see slight decreases or increases.

The Pennsylvania Homecare Association has been following the new rate change closely and advising its members on how best to handle the changeover. Click here for more information on the New Rates for HCBS Waivers.

Home Healthcare Factoring: The Right Funding Solution for Your Home Health Care Agency

Instead of waiting weeks or months to receive payments from Medicaid, Medicare, insurance companies and/or private consumers, would your home health care agency rather have your cash immediately? Did a bank recently turn down your business loan application? Are your home health care receivables available to be collateralized?

If you answered ‘yes’ to one or all of the questions above, then home health care agency invoice financing is by far the best funding option for your business. Allow me to elaborate…

Home health care invoice funding is the conversion of accounts receivable into cash by selling outstanding invoices to a factoring firm. Home healthcare agency financing is a viable financial solution that gives companies immediate cash to manage operations more efficiently. Home health care care agency owners can then use liquid capital to make payroll, pay taxes and meet other recurring financial obligations.

Click here for some additional key concepts about home healthcare agency invoice funding.

Health Care Staffing Factoring Helps Business Owners Expand Agencies

Health care staffing factoring is beneficial for growing agencies struggling to make payroll while their clients (medical providers) take weeks or months to pay for their services. Oftentimes, these agencies can’t qualify for traditional financing because banks look at a company’s past-aka: a profitable operating history-in order to extend credit. However, medical staffing funding companies are more concerned with the agency’s future-aka: its growing accounts receivable-in order to extend credit. Let’s take a look at how one healthcare staffing agency used invoice factoring to improve its cash flow.

Slow Payments Hinder an Agency’s Growth
A new healthcare staffing agency was successfully staffing LPNs and CNAs at a handful of local hospitals. Since the company’s inception six months ago, it had gained an outstanding reputation for placing the most qualified and hard-working nurses. Even though the healthcare staffing agency was a popular choice, the owner kept turning down new clients because he was struggling to make payroll and pay taxes. Simply put, payments coming in were much slower than the agency owner had originally anticipated, and his cash flow was out of sorts.

Click here to find out how the health care staffing agency owner used invoice funding to help stabilize his cash flow.

Medical Dictation and Transcription Goes Mobile with New Application

Webahn, Inc. recently announced the release of Accent HD, which is a new app for iPad that helps doctors dictate, review reports, print, and manage files in multiple formats such as PDF, RTF, and Text.

“Our goal is to provide flexible technology that moves with health care providers,” Vinu Nair, Webahn CEO said in the official press release, “Our solutions help doctors improve productivity and spend more time with patients.”

In essence, Accent HD is an app that offers a simple but intuitive interface for dictation that uploads via WiFi to OvernightScribe. Files are then transcribed, and posted in the clinic account. Physicians can carry the iPad with them to review archived reports, then dictate immediately upon seeing a patient.

Click here to read the official press release: New iPad App Accent HD Takes Medical Dictation and Transcription Mobile

Happy Medical Transcription Week 2012

Did you know that President Ronald Regan established May 20-26 as National Medical Transcriptionist Week? He did–In 1985.

So the medical transcription invoice funding experts at PRN Funding, LLC wanted to wish all of medical transcription blog readers a very Happy Medical Transcription Week!

Of course, the MT industry is not going away, but it is in a constant state of flux as large MTSOs acquire small ones in addition to incorporating EHRs. If you’re an MTSO or a transcriptionist, we want to hear your thoughts on the future of the industry. Feel free to leave comments.

Hospitals Benefit from Outsourcing Release-of-Information

Did anyone happen to read ROI in a Hybrid Environment in For The Record magazine’s April 23rd issue? It a nutshell, the article discussed the pains involved with switching over a facility’s paper medical record system to an electronic medical record system. The article referred to the transition phase as an ROI (Release-of-Information) Process.

Although the article was an interesting read, the outsourced medical transcription factoring specialists at PRN Funding wanted our MTSO audience and any other business owner of an outsourced healthcare company to be aware of the side bar article that accompanied the article, Outsourcing Can Help. It caught our attention, and for the convenience of our business owner readers, we’ve summarized the small article below:

A lot of hospitals think that transitioning to EHRs will reduce staffing needs around ROI–This assumption couldn’t be further from the truth. As a matter of fact, the staffing needs tend to increase in order to avoid falling behind while personnel adjust to new policies and procedures. Furthermore, there’s an underlying need to have specially-trained individuals to help train staff and assist with ROI implementation.

Steve Hynes, president of MRO Corp was quoted in the article: “Switching to EHRs “can be very resource intensive for the hospital and specifically for the HIM department to manage the changes while keeping up with day-to-day operations…Over a long period [resource needs] might fluctuate, but there will be a temporary bubble to get everyone up to speed during the conversion.” And that’s exactly where MRO Corp because outsourcing ROI is a way to lessen the labor-intensive burden.

We may be jumping the gun, but it sounds like outsourced ROI companies could be another good candidate for invoice factoring, as hospitals routinely take their time paying vendors.