A community of 30,000 US Transcriptionist serving Medical Transcription Industry


New to the board - want to start up a business - scc


Posted: Jul 07, 2011

Hi Everybody:  I'm new to this board, still navigating around a bit.  I know this question has probably been asked many times before, but here goes:

I have 30+ years' experience as a MT/CMT, had a business 20 years ago that did very well - booming, in fact.  I had to sell the business and relocate, now working for a hospital part-time, needing to supplement my income.  I am considering starting up a business again, since I did so well before, but the whole geography of MT has dramatically changed in the last 10 years.  I have been out of the loop for a while, not participating in any discussion boards, and have been isolated working at home.

My hope was to pick up maybe four or five accounts, straight typing, that would see me through for another 6 years until I retire.  I have done a lot of research on the internet, and it appears from what I have read that there is still a large number of MDs in private practice who have not made the transition to voice.  However, I also see that there are federal incentives for physicians to go digital.

Just wondering what you all think of this goal - is it realistic in the current MT environment?  Do you think there is enough of a client base to hold  for 6 years?  Should I change vocational directions? 

 

I may want to work for you!! - anon

[ In Reply To ..]
Not sure as we have gone full circle here in the MT world. Almost all small businesses have been eaten up by the big services because new technology is voice. The young docs coming out of college have computer skills and some do the voice and edit it themselves. The hospitals are buying their own VR programs. It is all about speed now. VR gives them fast results. Even the cost of all the updated drugs and new terminology out there...the services usually provide that and all that headache is not on the independent MT. Go for it though. You did it before, so why not. You can only hope you do good and then Medquist or Transend will make you an offer after 6 years!! But if you do...be a better, kinder, compassionate and understanding employer..that the industry needs.

Re: I may want to work for you - scc

[ In Reply To ..]
I had great employees before, and I expect that would happen again. Just gotta figure out the other logistics first!

Thanks for your input...

Today's environment - ic mt

[ In Reply To ..]
Most physician offices aren't going to voice. They are using point and click type programs and they have to be moved away from a physical chart as their only record to an EMR by, I believe 2014. So if they are doing straight typing, you'd likely have to be able to interface with whatever program they are using to do it. So your "in" would be to market them a program YOU want to use and one you could use for other offices.

And I don't think you'll find doctor offices that are going to just be doing straight typing for the next 6 years. Technology is just changing too fast.

You might want to poll your local offices and see what programs they are using for their dictation, but don't just ask if they are using voice recognition because, as I said, a lot of them aren't.

Reply to Today's Environment - scc

[ In Reply To ..]
Thanks so much for your response. So, what I am understanding is that I would purchase the package that I would use for several clients. They would dictate, I would straight transcribe, and then the report would go into their EMR. Am I correct? I called Nuance and was appalled at the cost - wonder if you or anybody can recommend another system?

Again thanks!

Perhaps check out EMDAT. They have a website. - Looks like an interesting program. (NM)

[ In Reply To ..]
x
Response to EMDAT - scc
[ In Reply To ..]
Thanks - I will definitely look at this. I appreciate your input!

I love straight typing. - be

[ In Reply To ..]
I think it would be a great idea for you to start your own business. If you do and it is straight typing, it would be great if you would consider me for employment. I have 5 years experience.

Reply to I love straight typing - scc

[ In Reply To ..]
Definitely. I just gotta get this thing up and going!

HIPAA 2013 incentives - ohiocarole

[ In Reply To ..]
You might want to take a look at this website. http://www.hipaasurvivalguide.com/hitech-act-4101.php

It'll give you an idea of what doctor's have to look forward to by 2013. I'm guessing a lot of them will retire (the docs who are too old to learn how to type their own stuff). Residents are already typing their own stuff (been doing that now for about 2 years). Obviously they will continue that when they become MDs/DOs. That'll leave some in the cracks, but they'll still have to align with either a hospital or an insurance company (HMO/socialized medicine) to be reimbursed.

I thought voice recognition was going to kill transcription, nope my own Federal Government.

Response to HIPAA - scc

[ In Reply To ..]
Thanks for the information. I'll check it out!


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