MTBC PracticePro Review

By
Adam Uzialko
,
business.com writer
|
Feb 04, 2020
Image Credit: Lisa S. / Shutterstock

Many medical transcription companies offer additional services. In fact, it is uncommon that medical transcription is the main source of revenue. In fact, many transcription companies couple this service with other products and services in the healthcare space, particularly health IT products like practice management software and electronic medical records (EMR) systems. MTBC is one such company that offers transcription as well as revenue cycle management (RCM) services. Medical practices that use  MTBC's EMR, practice management and/or billing solutions can use the company's ancillary medical transcription service for an exceptionally low rate – the lowest we identified in our review of medical transcription services. Even if you're not a customer of MTBC, its services remain competitively priced, but its medical transcription service is more basic in terms of flexibility.

MTBC Medical Transcription Services

MTBC Medical Transcription Services

The Best Medical Billing Service Providers of 2020

The Verdict

If you use MTBC's medical billing services, you qualify for an extremely low rate for medical transcription. This makes MTBC a strong contender for healthcare organizations needing medical transcription and a medical billing service.

View all of our recommendations for medical transcription services on our best picks page.

Pricing

Medical transcription companies have multiple ways of billing for their services. The most common is the visible black character (VBC) method. Using this method, companies charge for every VBC, like letters and punctuation marks. This works out to a 65-character line, which is the standard for billing. MTBC uses this model and charges two separate rates: one for nonclients and one for clients that utilize its other services.

  • Standard medical transcription services: For basic medical transcription for nonclients with a turnaround time of 24 hours, MTBC bills 8 cents per line. This is on a par with the industry average.

  • Medical transcription services for existing MTBC clients: For basic medical transcription for MTBC clients with a turnaround time of 24 hours, the company charges 4 cents per line. This is the lowest rate we found out of the five companies we evaluated.

MTBC's pricing is competitive by industry standards even for nonclients. However, it lacks some of the features and options that other services provide that charge the same rate. For non-MTBC clients who need regular medical transcription with flexible options, an alternative service might offer more features. However, MTBC clients can't beat the exceptionally low rate the company offers.

There is no contract or monthly minimum. It is purely on an as-needed basis. If you are an RCM client or use their EMR or practice management software, you'll need to sign an agreement to use MTBC for transcription. After that, you can use it whenever you need it for the low rate of 4 cents per line. Otherwise, you can use MTBC's medical transcription services even for a one-off project at 8 cents per line.

Features

There's more to medical transcription than simply uploading the audio file and then receiving the transcribed document. A service's accuracy rate and quality assurance matters, as does its flexibility in receiving audio dictation and returning transcribed documents. Immensely important are the security measures the service puts in place to guarantee the safety and privacy of sensitive medical information.

Here's a look at MTBC's features and how the company compares with its competitors.

Accuracy Rate

MTBC reports an accuracy rate of 99%, which is higher than the industry average of 98%. The company declined to elaborate on its quality assurance process and how it achieves its accuracy rate.

Turnaround Times

Standard turnaround is 24 hours or less from the time the company receives audio dictation from the client. Unlike other services we reviewed, MTBC doesn't offer expedited service. According to the company, it returns transcribed documents "within 24 hours."

Audio Dictation Delivery Methods

Clients can provide dictation in any audio file format, including MP3, MP4 or WAV.

Transcribed Document Delivery Methods

MTBC employs an encrypted web portal to deliver transcribed documents. If you'd prefer, you can have MTBC email you documents through its encrypted email inbox. Yet another option is MTBC can print hard copies of documents upon request and send them directly to you.

Integrations

MTBC has integrations with 39 major EMR platforms, including Allscripts, Cerner and Practice Fusion. According to the company, it is working toward interoperability between multiple EMR systems using blockchain technology.

Security

The company declined to elaborate on the security measures they have in place, including the level of encryption it uses to protect data. However, according to HIPAA privacy laws, the minimum required encryption for healthcare organizations and third-party service providers is 128-bit encryption.

Other Services

MTBC is primarily focused on the other products and services it provides: medical billing, practice management software and EMR systems. MTBC competently performs medical transcription without the bells and whistles. For MTBC clients who pay a lower rate and need occasional medical transcription, it is a good option. However, for organizations that require more extensive medical transcription services, comparably priced services that offer more flexibility are out there.

Limitations

While MTBC offers extremely low-cost medical transcription services to its existing clients, medical transcription is clearly an afterthought for the company. Not only are its transcription services buried on its website – instead, the company advertises RCM services, practice management software, EMR systems and telemedicine – the company representative we spoke with was disinterested in the medical transcription services, stating that most providers the company works with prefer to use voice recognition software. If medical transcription isn't a high priority for you, MTBC's services are sufficient, especially if you are already a client who can take advantage of the exceptionally low rates. However, if medical transcription is important to your business, you might consider a company that considers medical transcription services more central to its business model.

In addition, MTBC's lack of flexibility with its turnaround time means healthcare organizations have no options but to wait for 24-hour delivery. Other services we evaluated offered multiple options for turnaround times, including as quickly as 45 minutes. If you are typically not in a hurry for your transcribed documents, MTBC's turnaround time won't pose a problem. However, if your organization needs documents quickly, you might consider a medical transcription service with more flexible turnaround times.

Editor's note: Considering a medical transcription service for your practice? Fill out the questionnaire below, and you will be contacted by our vendor partners to help you find the right service for you.

 

MTBC Medical Transcription Services

MTBC Medical Transcription Services

The Best Medical Billing Service Providers of 2020

The Verdict

If you use MTBC's medical billing services, you qualify for an extremely low rate for medical transcription. This makes MTBC a strong contender for healthcare organizations needing medical transcription and a medical billing service.

Adam Uzialko
Adam Uzialko
Adam C. Uzialko, a New Jersey native, graduated from Rutgers University in 2014 with a degree in political science and journalism and media studies. He reviews healthcare information technology, call centers, document management software and employee monitoring software. In addition to his full-time position at Business News Daily and business.com, Adam freelances for several outlets. An indispensable ally of the feline race, Adam is owned by four lovely cats.