When searching for a medical transcription company to support your practice, there are many things you should consider. In addition to the type of experience the company has and the quality and accuracy of their services, pricing should be at the top of your priority list. After all, one of the main reasons outsourcing medical transcription services makes sense is because you can save money on the high cost of keeping an in house team of transcriptionists.
Unfortunately, some medical transcription providers charge hidden fees that can be very costly. By choosing a company that is not upfront about all of their fees, you may end up losing money rather than saving money on medical transcription services. Here is a brief list of some of the most common types of hidden fees that you should be weary of when shopping for a company to handle all of your medical transcription needs:
1. Implementation Fees
Electronic medical records (EMRs) and electronic health records (EHRs) have allowed health care professionals to provide their patients with a higher quality of care. Since they are now required by law, many medical transcription providers are charging their clients a hidden implementation fee to integrate their medical transcription platform with an EMR or EHR.
2. Line Count Fees
Some medical transcription companies charge by the line for their services. In most cases, the number of billed lines is calculated by adding up the characters that are physically printed on a page and dividing that number by a predetermined number such as 55, 60 or 65. While this pricing method may be favored by these companies, it can actually hurt you as a client because you may get billed higher than expected when there are more characters and lines being counted. Additionally, some providers pay charge you a flat rate and then add on a line count fee.
3. Cancellation Fees
When you hire a certain medical transcription company, you really have no way of knowing whether or not outsourcing their services is a smart business decision that meets the needs of your practice until they have actually serviced you. Some providers will lock you into a contract and charge you lofty fees if you decide that they are not right for you and wish to cancel. At times, these cancellation fees may not be clearly communicated before the contract is signed and instead be hidden in the terms and conditions.
The best way to avoid extra fees is to read the contract in its entirety and ask questions if items are not clear. Be sure to specifically address implementation, line count, and cancellation fees when discussing the contract. If the company skates over the question or avoids giving a clear answer, it may be best to reconsider your relationship.
Avoid Extra Fees with Fast Chart
Unlike other medical transcription providers, at Fast Chart we are transparent about our pricing structure. When you make the smart decision to take advantage of our services, you’ll never be surprised when it comes to your bill. We offer an affordable pricing structure and have built our pricing with your clients best interest in mind. For more information on Fast Chart, we encourage you to contact us today for a free quote.