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In-House vs. Third-Party: Who Should You Trust for Your Transcription Needs?

In-House vs. Third-Party: Who Should You Trust for Your Transcription Needs?

By: sageknox

10 May 2017

Large-scale firms and organizations often rely on clerical or administrative professionals to handle paperwork, communications, and file management tasks to support their primary functions. For audio and video recordings, a designated staff member is given the responsibility of transcribing the files into written formats. But for certain industries, like the medical or legal professions, there are drawbacks in keeping a full-time staffer on sensitive transcription jobs. On the flip side, not all third-party transcription services are alike, which begs the question: what should you choose for your transcription service needs?

Weighing the Costs

Of course, employing a third-party service that can scale to your organization’s needs is certainly more cost-effective than employing someone full time. Smaller firms can get away with utilizing staff workers who have multiple tasks to handle transcription jobs, but as you begin to grow and take on more projects, you’ll want to partner with a reliable transcription service provider that can quickly and professionally deliver your vital materials for future use. Some services begin at as little as $0.75 per minute, whereas employing a full-time professional transcriber may reach $40,000-60,000 per year and continue rising the more specialized your needs.

Skill Set and Capacity

Chances are, whoever is tackling your current transcription needs isn’t specially trained and lacks the proper equipment. Professional transcribers work remotely and in conjunction with a project manager, ensuring your transcription needs are met on time and with the utmost attention to detail. Furthermore, should your company take on a major project or need to retroactively transcribe older files for posterity or digital transfer, you’ll need someone who can handle the scale and scope of a major influx of new materials. An established transcription service provider has a network of reliable transcribers ready to go at a moment’s notice – a far cry from the frustration and expense of finding new employees or freelancers available to work in short order.

Security and Confidentiality

Naturally, you’d assume that an in-house transcription provider would be much more secure and reliable than a third-party provider. However, in the case of HIPAA requirements or sensitive legal matters, experts say that trusting a third-party provider with experience in the medical and legal fields is more likely to guarantee your company’s privacy and security. Because of the scale and nature of the transcription business in these industries, third-party providers like Transcription Hub have much more experience handling sensitive documentation and records than an inexperienced in-house transcriber. Additionally, putting all your eggs in one basket, so to speak, means a single party has access to all the confidential records in your company. A reputable third-party transcription service evenly distributes sensitive information to guarantee privacy between different projects.

For more information on specialized transcription services for your organization, contact Transcription Hub today for a free quote or submit your project by using our automated sign-up process.