Is Medical Transcription Still in Demand?

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 that nearly 7,000 new openings are expected to be available yearly. This certainly indicates a continued demand for medical transcription services. We’re happy to report the answer to the “Is medical transcription still in demand?” question is a resounding yes! We explain why below.

Doctors Still Need to Meet EHR Requirements Accurately

One of the top reasons medical transcription is still in demand is the need to be mindful of electronic health record requirements. By taking advantage of EHR transcription services, medical practices can ensure compliance with EHR requirements while easing this burden for already busy staff members. Medical transcriptionists are trained to enter appropriate codes and pay extra attention to the details required to maintain accuracy.

Working from Home Isn’t Usually an Option for Medical Professionals

Part of the reason there has been speculation about the decrease in the need for medical transcription work is the shift to a remote lifestyle for many people. This occurred mainly during the first year or so of the COVID-19 pandemic. In the medical profession, pandemic-related precautions also contributed to increased 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 benefit from virtual appointments, any audio notes recorded about those visits still need to be transcribed.

AI Software Will Never Replace Human Transcriptionists

Artificial intelligence has come a long way over the years regarding accuracy. And this is another reason there have been reports of a decreased demand for human medical transcriptionists. But the accuracy of AI could be better than 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. Some speech-to-text providers claim accuracy ranging from about 84 percent to as high as 90 percent, although this is the exception and not the rule. What’s more, human transcriptionists can pick up on any unique nuisances with dialects and speech patterns to further improve accuracy rates.

Experience the Many Benefits of Medical Transcription Services for Yourself

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 various 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.