| The medical transcription industry is one that has | | | | to differentiate between words that sound very |
| been growing and will continue to do so in future | | | | similar to one another. |
| years. It will move forward alongside Health Care | | | | That is certainly not all that modern transcription |
| as the need to update client files quickly will only | | | | software can do. For companies that are |
| increase as the nation's demand for Health Care | | | | competitive in the medical transcription business, |
| increases. The face of the industry has changed | | | | there are options available that provide them with |
| drastically over the last decade moving from | | | | a complete platform. This will handle a number of |
| what now seems like archaic methods of taking | | | | the different aspects of their business and will |
| speech files and transferring them to text to the | | | | improve profitability in a number of ways. |
| situation today where sophisticated transcription | | | | Modern transcription software platforms can |
| software programs are guiding the way | | | | provide workflow management. Instead of having |
| companies do business. | | | | mid-level managers attend to the distribution of |
| It was not very long ago that voice recognition | | | | work, this can be automated and streamlined by |
| software was able to do little more than | | | | using the software platform. The best ones will |
| recognize numbers. Any attempt to speak into it | | | | have the ability to provide automated workflow |
| would be met with an output full of gibberish. | | | | to users and can also be adjusted manually when |
| Now, speech recognition technology has moved | | | | the occasion presents itself. |
| forward to the point where the best transcription | | | | The possibilities go much further than that. Going |
| software can boast error rates that are | | | | hand in hand with the workflow management, |
| significantly below 5%. It has meant that the | | | | platforms can actually manage payroll and |
| medical transcription industry has become far | | | | accounting duties. It makes sense to tie these |
| more efficient. This is at least true for those | | | | systems together and to have a complete |
| companies that have the latest software. | | | | package where work is distributed and billed for |
| Medical transcription software is not the same as | | | | seamlessly. On the back end, these software |
| your standard speech recognition technology. The | | | | platforms can also provide automated delivery of |
| major difference is in the size of the dictionaries | | | | the finished product to clients. The best ones can |
| and the vocabulary required in doing medical | | | | do this in a number of different formats according |
| transcription. The English language uses | | | | to the clients' preferences. |
| somewhere in the area of 60,000 words that are | | | | Companies that are serious about competing in |
| commonly used, depending on what source you | | | | the future of the medical transcription industry will |
| use for research. When you include scientific and | | | | need to not only have transcription software, but |
| medical terminology, this number balloons to | | | | a complete medical platform that will allow them |
| somewhere around 300,000. Not only does that | | | | to work efficiently and significantly increase |
| mean much larger dictionary files must be used, | | | | profitability. |
| but the software must be sophisticated enough | | | | |