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Interesting facts about Insurance Transcription Services

Interesting facts about Insurance Transcription Services

By: Kevin

11 Oct 2021

Transcription, in one form or another, has always been used by mankind as a crucial document for multiple purposes. Today, though there are various options like voice recognition software and AI-driven techniques, no machine could match up the precision and accuracy of an experienced human transcriptionist. Here let us find some of the interesting facts and information about Insurance transcription services.

Speed up the process

The interesting and informative details about Insurance Transcription Services are they engage well in speeding up the process of the case. As we all are aware there is a huge amount of work involved in every insurance claim, and to ease or alleviate the burden in the multiple documentation processes, Insurance transcription is an effective and functional tool that speeds up the process.

To understand this a bit deeper, a victim who has met with a car accident usually makes a statement through the form of an interview with the investigators. Here in the process, a recorded statement will be required to extract precious information. This phase will be carried out by a professional human transcriptionist who has vast knowledge in insurance compensations and claims, works by the company standards, and eventually has the skillsets to transcribe accurately. As such, arriving at an accurate assessment, the insurance company will determine whether the insurance claim is indeed valid.

Apart from this, the insurance company may also conduct an additional round of oral interviews from the claimant and the witnesses in the incident. Jotting down the crucial statements of the interview will be a time-consuming, and tedious job to do. Ideally, to give a solution to this, the use of a transcription expert can be the biggest factor to save time and increase productivity.

The transcription service provider needs to have an eye on the veracity

Transcription is not a job that can be performed with less attention. It is highly attentive work that requires sheer concentration. Even a short statement from a claimant or the witness could be a huge turnaround in the case. Therefore, keen ears with absolute attention are a prerequisite. Also, the insurance company will be able to come up with more accurate decisions if only it has sufficient information at hand. This is also one of the many reasons why Insurance companies see the transcription service provider as a crucial entity.

The interesting fact to come across while speaking about insurance transcription is the popularity and necessity among insurance companies. People from across the globe are considering medical insurance to prepare for imminent or impending health uncertainties. Being a bridge between the clients and the insurance company, the transcription service provider enhances the process of coming up with quality documentation during the insurance claims and compensation.

Finding a way to address technical jargons

A transcriptionist has to pay a lot of attention to every utterance and interjection spoken during the interview or investigation. Looking up the definitions of the technical and advanced jargon used might be a hinder to the turnaround time however, every transcriptionist might cross this path. This use of unfamiliar words is time-consuming but they ought to be defined and known well by the transcriptionist to add value and quality to the documentation.

Transcription never alienate hearing-impaired people

On top of all, this is one of the most interesting facts about Transcription service providers. While audio recordings are not ideally a cup of tea to the hearing-impaired, the availability of transcription at hand serves the purpose of neutrality. This delivers a clear message that people are being valued irrespective of disabilities. If a claimant or a witness involved in a case is deaf, the transcription becomes a valid document as an exerted effort has been made to ensure anyone has a chance to access information.

Measure to maintain a record

Another necessity of insurance transcription helps healthcare, legal, and media experts to maintain a record of all the essential documents by transcribing the audio recordings gathered. These records in the present or the future will serve as a crucial piece of evidence. Sometimes, the insurance claim process takes weeks, months, or even years based on the complexity of the claim. Also, the recorded statement which is made available as part of the claim will be used in case the claim is taken to a court of law for settlement.

At Transcription Hub we specialize in transcribing all insurance audio in a secure online environment. We process tens of thousands of pages of recorded statements each month for our clients. Our specialization includes providing a scalable and customized solution to our prestigious clients which are tailored based on their needs. We pride ourselves on building a mutually beneficial and long-term relationship with our customers. What sets us apart is how we take the time to get to know the unique transcription needs of your company & work accordingly.

We strive to make privacy and security a top priority to remain compliant with the Health Insurance Portability and Accountability Act (HIPAA) and other federal regulations. Our expert team of transcriptionists is equipped to manage, track and transcribe all insurance-related audio to verbatim transcription.

The reports we generate are many and to name but a few

• Claims
• Field investigations for theft, property damage, accidents, etc.
• Recorded statements,
• Summary reports,
• Fraud investigation/probes reports,
• Insurance claimant statements,
• Insurance interviews,
• Telephone conversations,
• Insurance meetings,
• Carriers insurance,
• Third-party administrator's insurance, and
• Independent adjusters insurance etc.

Thankfully, at Transcription Hub, we offer services upon request and engage professional human transcribers for verbatim transcription who are experts in providing 99% accuracy. We have a successful track record and have established a benchmark of providing accurate, timely, and intelligible transcripts. We never want you to lose your words and context in transcription when you already found the best in the cards.

We work in a compliant, discreet, and professional manner. We are the trusted insurance vendor for many of the leading insurance companies across the US with a record of transcribing more than 5 million minutes. We also specialize in transcription services for academia, legal professions, healthcare, media, government, businesses, and more.