Transcription Co. Profit 101 - 5150

For a transcription company, their biggest sales pitch is voice recognition.  This is how it works . . .

1.  Hire us, and it will only be a matter of a few months, and 75% of your documents will be 100% voice recognition - cost 0.3 cents per line.

2.  During the system training, the cost is 0.20 cents a line for documents that are transcribed completely from voice.

3.  Documents that are edited by transcriptionists, are only 0.7 cents per line.

The hospital does the math, and realizes that for next years' budget, they can lower transcription cost by 75%.

For the transcription company, they make huge profits on all 3 processes above.  Straight typing paid to MLS at 8"ish" cents per line, still gives them a 12"ish cents per line profit.

Edit documents still give them 3-4 cents per line profit (although NOW it is doubled because we halved our editing lines)

100% voice recog is pure profit at 7 cents per line, just overhead for servers and programmers periodically.  They don't even require work pool oversight - it's all automatic.

We are the work pool creating the algorithoms for the future of 100% voice recognition.  Our knowledge, radar-like ears, and willingness to do the right thing creates the perfect storm for software programs that are hungry to learn the habits of each dictator.