In-house transcription looks like the ideal way to do away with the troubles of getting all your transcripts, the high costs notwithstanding. However, even a perfunctory analysis will show you why the demerits of doing so, far outweigh the merits.When one factors in all the internal costs incurred for setting up and keeping such a unit running, the final figure attains levels as high as 300% of what an outsourced transcription service will do it for. The indirect costs include:
50% Medical Transcription Utilization
A professional Technical Support team
Cost of purchasing and maintaining equipments.
Depreciation of existing equipments.
Upgrading software
Rentals, Electricity etc. for office space and utilities.
Cost of training and recruitment of staff.
When one factors in all the internal costs incurred for setting up and keeping such a unit running, the final figure attains levels as high as 300% of what an outsourced transcription service will do it for.
Other than costs, the transcription staff you hire will most certainly consist of freshers just out of college or dabblers trying their hand at something new. Expecting quality output from such recruits is a tough call. Moreover, these recruits are sure to jump to other companies, once better opportunities come up. Your efforts to build a worthy in-house transcription team will come to nought.
