Medical Scribes Role in Transcription Industry

The medical transcription invoice funding specialists recently stumbled upon an “Open Letter Series” written by AHDI’s 2011 Director, Kristen Hagen, discussing the role of medical scribes in the healthcare documentation industry.

Even though, Ms. Hagen wrote the Let’s Talk About…Medical Scribes Open Letter in February, the information within it is still very relevant for our medical transcription factoring blog readers. Here are some tidbits of information we wanted to highlight:

What is the background of a medical scribe?
“Today scribes are commonly referred to as Clinical Information Managers. The primary function of a scribe is the creation and maintenance of the patient’s medical record, which is created under the supervision of the attending physician. The scribe documents the patient’s history and story through direct observation of the physician’s interaction with the patient as well as the procedures performed, the results of the laboratory studies, and the other ancillary information gathered at the point of care…The demand has traditionally been filled with eager pre-medical students, learning first-hand about the workflow patterns and patient care they will deliver in the future.”

What are the skill set requirements and training required to become a medical scribe?
“Medical scribes may be trained on site or through affordable online distance education programs. Skill sets include strong English grammar, a compelling interest in healthcare and  patient improvement, a strong desire to work in a clinical setting, superior analytical and resource skills, understanding and training in enabling technologies…an understanding of information workflow, attention to detail, keen listening skills, and strong multi-tasking abilities…Scribes are also expected to be well-versed in HIPAA and regulatory compliance, and like MTs, scribes have a steep learning curve, with clinical shadowing required in the post training phase.”

Could this be a stepping stone for medical transcriptionists and others in the medical transcription field? Is this an alternate career path for medical transcriptionists?
“There are similarities and distinct differences between medical transcriptionist and medical scribes, as are there in comparing these roles with any other health information management role…Healthcare will need professionals who have flexible resume of contributory skills applicable to an EHR-centric documentation setting. Scribing is a potential alternate documentation setting for medical transcriptionists.”

Ms. Hagen’s two-cents:
“I can tell you that transcribing and scribing are neither competing nor complementary. They are quite unique, with some overlapping fundamental training but with divergent connection to technology and practical application. They are simply two of the many current and evolving roles available for those who seek career in the documentation of healthcare encounters.”

Q: What do you think about the medical scribe industry?

How Medical Billing Companies Can Increase Their Cash Flow through Factoring

While the public’s confidence on the economy continues to spiral downward, the demand for health care in this country continues to grow.  According to the National Coalition on Health Care, the U.S. spent approximately 17% of its GDP in 2008 on health care costs.  That percentage is expected to jump to 20% by 2017.

Doctors’ offices will soon be flooded by 78 million baby boomers as they become eligible for retirement.  To handle this sudden influx, physicians will have little time for the day-to-day business operations of their practices and must focus primarily on patient care.  As a result, medical billing companies are seeing increased demand for their services.

More and more doctors are outsourcing services such as medical billing and coding to subcontractors, and these companies are reaping the benefits.  However, due to the slow pace at which insurance companies approve patient claims, it takes a while for doctors to be paid, and in turn it takes even longer for them to pay their vendors, especially medical billing companies.  According to the American Medical Billing Association, it takes an average of 90 days for paper claims to be reimbursed.  Granted the advent of an electronic claims system has lowered reimbursement times, it is still problematic for medical billing companies to wait to be paid.

For example, an insured patient goes in to see a doctor.  The cost of the visit is $100.  Because the patient is covered for this visit, the doctor must make a claim to the insurance company and wait an indefinite amount of time for the claim to be approved.  If the claim is not approved, the doctor must send more details of the visit.  This increased lag creates a problem for doctors who would rather spend their time with patients than following up on claims.  Therefore, doctors turn to experts and subcontract medical billing companies to handle these issues.

Whether they are start-ups trying to gain a market share of this ever-increasing business, or a veteran company trying to beat the slow-payments system of insurance companies and doctors, a viable and flexible option exists for companies called medical billing factoring.

Medical billing factoring is converting the accounts receivable of a business into cash by selling outstanding invoices to a ‘factor’ for a discount.  Accounts receivable factoring gives the medical billing business immediate access to cash so that it can manage its operations more efficiently.

Instead of waiting months to be paid by doctors’ offices, medical billing companies can use factoring services to get cash now to pay for their employees and ongoing business expenses.  They can also use the money to expand their businesses, such as hiring and training new employees or purchasing new equipment, in a time when the healthcare industry demands these companies more than ever.

Doctors need all the time they can get to provide care for their increased number of patients. While the amount of work has increased and the payments remain slow, outsourcing medical billing duties gives doctors more time with patients.  By factoring their receivables, medical billing companies do not have to wait to be paid and can continue expanding their businesses in a market that is favorable towards this niche.

NOTE: This was originally written for PRN Funding’s web site, and a re-print addition also appears on FactoringInvestor.com.

Find Nursing Info on Twitter

Howard Gerber of Sunbelt Staffing did a great blog post about how nurses can use Twitter to stay up-to-date on nurse industry news. For the convenience of our nurse staffing industry readers, the temporary nurse staffing invoice funding specialists at PRN Funding wanted to re-post the valuable information on The Factoring Blog as well:

As a nurse, you probably work long hours and have very little down time to read about medical news, keep up with other nursing journals or nursing issues. Twitter can make it much easier to keep up with the latest news and information. By following accounts specific to the field of nursing, you can have all of the news and information sent to you in short bursts that can be read quickly. If they interest you, you can follow links for more information. With free Twitter apps available for all smart phones, you can keep up while on breaks at work or while you are on your commute home – as long as you aren’t driving!

@NursingTimes

This Twitter account is maintained by the Nursing Times website. They tweet multiple times a day and include news items related to the field of health, nursing, and nursing education.

@AmericanNurseToday

This is the official Twitter account of the journal for the American Nurses Association. They tweet news articles from their own journal as well as from other health publications several times a day.

@NEJM

This Twitter account is maintained by the New England Journal of Medicine. While this is not a journal specifically for nurses, they do provide a wide range of medical information. The Twitter feed is updated several times a day as new articles are published to their site.

@AmJNurs

The American Journal of Nursing is a peer-reviewed journal that has been publishing evidence-based articles since 1900. Their Twitter feed is updated numerous times a day during the week and include links to their own articles, news articles, and information posted by other health organizations.

@MinorityNurse

Minority nurses, nursing students, and faculty often face unique challenges in the field of medicine. This account tweets frequently and includes links to their own articles as well as to general health articles and resources for minorities.

@MedSurgNurses

This Twitter account is maintained by the Academy of Medical-Surgical Nurses. This is a national organization specifically for medical-surgical nurses. They update several times daily during the week with links to nursing news and resources as well as recommendations for other Twitter accounts to follow in the field of health.

@aorn

This is another nursing specialty account maintained by the Association of PeriOperative Registered Nurses. They discuss issues specific to their field as well as general health topics and items of interest to nurses in general.

There are hundreds of Twitter accounts that are maintained by nurses, nursing students, nurse educators, nursing journals, nursing schools, and nursing associations. Use these as a starting point and look at the organizations they are following as well as who they have as followers to find even more accounts you may be interested in.

Schedule Released for 2011 CDIA Conference

CDIA (formerly MTIA) published an interactive schedule of events for it’s 2011 Conference. The 22nd annual medical transcription and clinical documentation industry conference will be held in Charlotte, NC April 13-16.

According to CDIA’s web site, those interested in viewing the interactive conference schedule can click on the session titles on the page to read the session summary and speaker bio.

(NOTE: Not all sessions are currently clickable, as CDIA is still collecting information from speakers and finalizing the schedule. Please check back frequently for updates.)

AAPC Launches ICD-10 Resource Site

According to the ADVANCE Perspective HIM Blog, the American Academy of Professional Coders, a trade association dedicated to serving the medical coding industry, recently created an ICD-10 resource site in preparation for the government’s mandated ICD-10 changeover in October 2013.

ICD-10 is expected to affect all heathcare professionals, not just the administrative medical coders and medical billing staff.

Among the key features include:

  • An ICD-10 code conversion tool allowing users to translate an ICD-9 code to ICD-10 instantly;
  • ICD-10 news and articles from industry experts helping prepare for implementation;
  • Two interactive floor plan tools that show how ICD-10 affects all aspects of a practice or health plan; and
  • An online application used to track and graphically measure the ICD-10 implementation progress.

For further information about ICD-10 implementation, please visit the AAPC ICD-10 site.

Medical Transcription Educational Opportunities Available at MTIA 2011 Conference

According to a brief write-up in March’s issue of Plexus, MTIA will once again offer a morning of education sessions that are specifically aimed at practicing MTs on Saturday, April 16, in Charlotte, NC. Available for a special price, medical transcriptionist attendees will learn:

  • ICD-10 Implementation
  • Revenue Cycle Process
  • Meaningful Use

MTs can choose between two different registration options:

  • MT Package #1 – Saturday morning classes only 9am-1pm; and
  • MT Package #2 – Saturday morning and the closing reception of the MTIA Conference scheduled for April 15 from 5:30-6:30pm.

MTs must register using the MT Package Registration Form: http://www.mtia.com/downloads/MTIA2011_MTPackage_RegForm.pdf).

Recent Study Says Healthcare Employment Showing Significant Growth

Did anyone else see NursingCorp’s February eNewsletter? In it, the Caracci’s discussed the State of Healthcare Employment based on a recent study released by the Altarum Institute’s Center for Studying Health Spending. Here are some of the study’s key findings:

  • In 2007, private sector healthcare employment was 9.5 percent of the total US employment. In 2011, it increased to 10.7 percent.
  • From 2007-2011, non-healthcare jobs have decreased 6.8 percent, while healthcare employment increased 6.3 percent.
  • Currently, 34 percent of all healthcare employment is taking place in the hospital setting, 22 percent in nursing and residential care facilities, 17 percent in physician’s offices and 19 percent in the outpatient setting.

Transcend to Acquire DTS America

Last week, Transcend Services, Inc. announced that is was entering negotiations to acquire DTS America, Inc. The transaction is expected to close next month.

Transcend Services, Inc. is a Nashville, TN-based medical transcription company that serves approximately 30 hospitals, plus a number of clinics and surgery centers in 13 different states.

Andrew Miller, Jr., CEO of DTS America was quoted in the press release saying: “In order to continue our ambitious growth plans, DTS needed to find a larger partner that both recognized the value of our employees and was committed to providing excellent customer service. I believe Transcend is the best partner for our employees and clients and I am excited by the capabilities that each of  us brings the other.”

Click here to read the entire press release: Transcend to Acquire DTS America.

MTIA Officially Changes Name to CDIA

Back in August, it was rumored that the Medical Transcription Industry Association (MTIA) was going to change its name to the Clinical Documentation Industry Association (CDIA).

The CDIA made the official announcement on February 21 at a private press briefing and reception at the HIMMS11 Annual Conference and Exhibition. The name change reflects the fact that the transcription profession is evolving into an editing funding with the advent of EMRs.

Under its new name, the CDIA will continue to promote the value of clinical narrative in capturing information-rich health stories that can be tagged and re-purposed to meet criteria for use and distribution in the EHR.

Click here to read more on the CDIA Name Change Announcement.

New Learning Resource For Factoring Brokers and Referral Sources

Part of PRN Funding’s commitment to maintaing strong relationships with our factoring referral network is writing articles for various invoice factoring publications. Now we’ve made it even easier for brokers to access those articles via a special section on our web site: Factoring Broker Articles. Check out one of the video description below:

Factoring Prospects: Weeding Out the Bad to Find the Good

As cash flow consultants, it’s your job to deliver companies with cash flow issues to the appropriate funding source. Although this task sounds easy enough on paper, in reality, it’s not always a simple feat. Picture this scenario: You find a candidate in need of cash flow who has been in business for two years, gets paid in less than 45 days and wants to expand. Eager to help this business owner get the cash he needs to expand, you refer this person to one of your factoring sources immediately. The factoring company has communicated to you that they are interested in pursuing the deal, and they’ll have an update for you as soon as they reach out to the prospect. The next day, you get a phone call from the factoring firm telling you that they are no longer interested in the deal. Has this ever happened to you? If so, then I have some good news. There are three questions cash flow consultants can ask their prospects that will drastically reduce the chances of the above situation ever happening again. And if it hasn’t happened to you yet, and you’re not asking the appropriate questions, then it’s only a matter of time before it will happen. Continue reading…