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Medical rewrite: Why the $116M Spheris sale will change the transcription business - dnr

Posted: Apr 24, 2010

http://nashville.bizjournals.com/nashville/stories/2010/04/26/story1.html?b=1272254400^3245651

This link was on the Benchmark KB Dashboard

Medical rewrite: Why the $116M Spheris sale will change the transcription business

The sale, which was scheduled to close Thursday, combines the country’s two largest players in a $15 billion medical transcription industry struggling to reinvent itself in the face of technological advances.

Whether it succeeds could determine how health care providers meet guidelines for federal stimulus dollars and how your next doctor’s visit becomes a matter of medical record.

“This sale is a decision point for companies moving forward,” said Chris Cashwell, senior vice president for client development at Nashville-based Webmedx Inc., the fourth-largest transcription company.

“Do they want to continue to be seen as an outsourced commodity for driving down costs or a technology partner in improving patient care? Whoever wins that marketing battle with providers will end up the winner.”

Also of note in the article, - dnr

[ In Reply To ..]
"According to a recent survey by KLAS, an independent research firm that monitors medical transcription companiesâ�� performance, 44 percent of companies have seen their dictation volume rise within the past year while another 40 percent said they stayed the same.

At the same time, doctors are including more information in patientsâ�� medical records, and some hospitals and clinics are requiring doctors to document more, according to the KLAS report."

Guess there really isn't a shortage of work, just a shortage of what Kumar will let us have.

Also of note in the article, "Each year, independent research firm KLAS ranks medical transcription companiesâ�� overall performance based on a variety of measures. "

MQ rates 9 and CB rates 11

Kumar may no longer have a choice - So says my boss

[ In Reply To ..]
My team was just informed that we will be getting some accounts back from the Indians due to the doctors complaining about their quality. Revenge? Priceless.

Yes, priceless. - dnr

[ In Reply To ..]

yeah!! - raining pennies

[ In Reply To ..]
This makes 2 areas now.another post two weeks ago said they got some big accounts back from Indai because clients were very dissatisfied. she was in the south I believe. This made my day also! I noticed the last week I had way more of my primary than what I was used to getting.not sure what is up with that.we have been having ot off and on this week though. I hope this is all a step in the right direction.

Important fact about KLAS: Only 15 companies were ranked last year. sm - Soon to be ex-MQ MT

[ In Reply To ..]
This was Webmedex's first year, and some of the other big companies were not ranked. I think you have to pay to be ranked and very few do it.

Theyre ALL "losers", in my opinion. -nm - Rocky Raccoon

[ In Reply To ..]
nm

Preziosi, What a dumb thing to say! - mere transcriber

[ In Reply To ..]
Instead, medical transcriptionistsâ�� roles must evolve from a mere transcriber of doctorsâ�� notes to an editor of patientsâ�� medical records, Preziosi said

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