Is medical transcription a dying field? This is a question some people have been asking lately. According to the Bureau of Labor Statistics, medical transcriptionist employment is expected to drop by 7 percent by 2030. However, the BLS also reports nearly 7,000 new openings are expected to be available each year. This certainly indicates a continued demand for medical transcription services. In fact, we’re happy to report the answer to the “is medical transcription still in demand” question is a resounding yes! We explain why below.
One of the top reasons why medical transcription is still in demand is because of the need to be mindful of electronic health record requirements. By taking advantage of EHR transcription services, medical practices can ensure compliances with EHR requirements while easing this burden for already busy staff members. Medical transcriptionists are trained to properly enter appropriate codes and pay extra attention to the details required to maintain accuracy.
Part of the reason why there has been speculation about the decrease in need for medical transcription work is because of the shift to a remote lifestyle for many people. This occurred largely during the first year or so of the COVID-19 pandemic. In the medical profession, pandemic-related precautions also contributed to an increase in telemedicine services, which are virtual “office visits” or medical appointments. However, doctors, nurses, physical therapists, and similar healthcare professionals typically don’t have the option of working from home due to the nature of what they do. Plus, even if more patients are benefiting from virtual appointments, any audio notes recorded in relation to those visits still need to be transcribed.
Artificial intelligence has come a long way over the years as far as accuracy goes. And this is another reason why there have been reports of a decreased demand for human medical transcriptionists. But the accuracy of AI isn’t as good as what’s possible by highly trained transcriptionists. A 2020 benchmark report notes Microsoft’s transcription accuracy is around 80 percent, and Google is in the same ballpark. Now, some speech-to-text providers claim accuracy ranging from around 84 percent to as high as 90 percent, although this is the exception and not the rule. What’s more, human transcriptionists are able to pick up on any unique nuisances with dialects and speech patterns to further improve accuracy rates.
Enjoy all the many benefits that go along with medical transcription personalized to your needs by contacting a reliable medical transcription company. At 360 Transcription, we provide an assortment of useful and customized services ideal for any budget and a wide range of service needs. Whether you prefer to outsource everything or only get the added support you need for what you do internally, we’re here to help. Contact us today to learn more.