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Medical Transcription Service (outsourced)

 
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xericx

posts: 31

Apr 03, 2008 4:07 PM ET    Quote  Report Abuse
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I have a deal in place with a medical transcription company out of the country.

They will charge me a certain rate for their transcription services for doctors and I will market here in the united states for them and charge whatever i want to charge. 

I would bill a client, then I would collect from them, and I will pay the transcribers. 

What are some considerations here? 

MiteyMite

posts: 489

Apr 04, 2008 1:41 PM ET    Quote  Report Abuse
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I have past experience owning a medical transcription corporation for a good many years.
 
Here`s a consideration that comes to mind........ consider having extra working capital.  
 
My experience was that doctors, hospitals, home health cares, etc., are extremely slow payers.  With that in mind, you should have a good amount of funds available to pay your outsourced transcribers and other expenses for a while, in case you`re not paid in a timely manner.
xericx

posts: 31

Apr 04, 2008 11:50 PM ET    Quote  Report Abuse
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I agree and thank you for your input.  I`m in the due dilligence stage trying to hammer out the exact format.

I am in the medical field and know how long things take.  I`m targeting the small, self-established doctors who incorporate themselves.  What I will offer is on-site setup and a more hands-on approach on my end and a hands-off approach on their end.   What I offer the outsoucing company is marketing and billing ease for US clients at a premium ( I will tack on a few extra cents per dictated line...maybe 30% or so..I`m trying to figure that out based on market conditions).

I`m trying to find the pricing scheme so I have a few emails out to people I know, then I`ll figure out the billing structure and methods to do this.   any suggestions would be helpful.





xericx

posts: 31

Apr 08, 2008 12:00 AM ET    Quote  Report Abuse
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I got some feed back as for current market conditions and I have determined that the price the outsourced firms are charging is too close to the current market so I might have to pass. I`m number crunching but doesn`t look good.



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