3 Tips for a Healthy Partnership with Your Insurance Transcription Vendor

/0 Comments/in /by Tyler Marshall

Outsourcing can reduce costs, but getting the most value out of your insurance transcription vendor requires effort from both parties. Whether your company already outsources insurance transcription or you are considering doing so, the following tips will help you get the most out of the relationship.

 

#1: Involve Staff at All Levels within the Organization

All individuals within the organization should be a part of the decision making process. Bring in vendor management (aka procurement), business process owners, and end users. End users typically include adjusters and your subrogation team. End users are especially important. Do a requirements analysis and have them involved in ongoing communication with your vendor. This is one of the easiest and most effective ways to surface issues quickly and address them before they become major problems.

When staff from multiple areas of the business come together to make key decisions, results significantly improve. These individuals need to understand how processes work, what to do when there’s a problem, and how to fully utilize vendor’s services. Giving your vendor access to staff will allow them to educate, train, and equip end users.

If you are just getting started with an insurance transcription vendor, make sure the following questions get answered:

  • What is the recommended workflow and does this need to be adapted to your specific needs?
  • What security risks exist and how are they mitigated?
  • What does your order volume look like – is this consistent or should your vendor be prepared for fluctuations?
  • What is the customer service response time?
  • What happens if there’s a mistake in a transcript?

Companies should involve the entire team to ensure a productive working relationship between insurance transcription vendors and company’s staff.

 

#2: Communicate Goals and Strategy

Make sure all parties are clear on expectations and goals. Get specific. For example, a task as simple as explaining how to batch upload workers compensation transcription files can be valuable information the vendor can share to streamline the process and save you a significant amount of time.

Also, keep in mind that vendors are often willing to adjust to an insurer’s needs. Do you see a better way to do something? Bring it up with your vendor.  Oftentimes, vendors are willing to make modifications to better suit client needs when it is within the scope of their contract to do so.

Vendors can also be great sources of knowledge. Insurance transcription vendors typically do work for multiple insurers. This means they often have decades of insight and experience in what tools and methods work best. They can be experts in best practices related to transcription. For example, vendors can provide advice on everything from how to best transfer audio files and completed transcripts (portal, SFTP, API, etc.). Many vendors also have excellent input on how to optimize call recording quality. If audio quality improves, so will the resulting transcripts.

When you view the relationship as a partnership, you start to find more win-win opportunities.

 

#3: Regularly Evaluate Results

Insurance transcription vendors routinely provide reporting to customers. Some standard metrics include:

  • Percentage of transcriptions completed within promised turnaround
  • Breakdown by order type (rush, priority, standard)
  • Monthly transcription order volume
  • Average page count

Keep in mind that vendors are often willing to customize reports for customers. Report frequency and the metrics included within the report are customizable.

Ongoing reporting simplifies the vendor management process because trend analysis is possible. Insurers can identify potential areas for cost savings (e.g. is subro ordering more priority orders than anticipated?) and catch potential issues before they grow into real problems.

The time and effort invested in involving staff throughout the organization should result in a productive, mutually beneficial business partnership.

4 Ways Insurers Can Utilize Transcription and Translation Services

/0 Comments/in , /by Tyler Marshall

If you’ve kept up with our blog over the last few months, you already know that working with a quality transcription provider is essential to the overall claims process. But why do insurance carriers need to work with a transcription company in the first place, and what do they do with the text files once they’ve received them back?

Here are four ways insurers can utilize transcription and translation services.

#1: As Part of Claims Files Destined for Arbitration and Subrogation

One way that many property and casualty companies utilize transcription and translation services is for files that are in recovery.

The arbitration and subrogation portions of the claims process are essential. This is the time in which insurance companies are able to reclaim outstanding funds that have already been paid out and make a positive impact on the insurer’s bottom line.

In situations that involve sending a basic subrogation file to an adverse carrier that has accepted some degree of liability, including a transcribed statement is more of a courtesy to help them complete their file. It depends on each individual carriers’ practices, but overall it’s a common practice throughout the industry.

But when it comes to an arbitration claim, the need for a textual transcript is even greater. In order to make each case as complete as possible, Arbitration Forums specifically recommends having a verbatim transcription done on each recorded audio statement. The reason for this is that arbitrators who review cases do not have the ability to listen to audio files and could be missing out on key data by not having the information included.

Consider this example as a prime reason why a transcript is important for arbitration. Imagine a situation where an insured’s statement greatly affects the outcome of a case. The only two options you have as an adjuster is to send in the file with your notes on what happened during the call or send a verbatim transcription over as part of your findings. In this situation, your notes are generally considered secondhand information and won’t be weighted as heavily as a direct transcript. Thus, there’s a big chance that the liability outcome could be very different simply because a transcript was or was not wasn’t included in your submission.

#2: To Translate Spanish Audio to English

For some insurance companies, it isn’t always possible to keep a staff member who speaks Spanish on the claims team. This is where many firms opt to use an outside transcription and translation company.

The process works whether your audio file includes a discussion with an insured, a claimant, a witness, or virtually anyone else. Once the audio is submitted, it is translated into English text so that the adjuster can clarify what the other party said during the recorded statement. In situations where a friend or family member might be translating on the phone for the person you are interviewing, this transcript can be key, as it allows you to compare what the person actually said in their native language with what the third-party described during the call. Allegis even gives you the option of including the original Spanish is textual form, including along with the English translation to provide, making the transcript as comprehensive as possible.

This service is also important if you regularly send files to arbitration or your company’s special investigation unit. Many arbiters and investigators do not speak Spanish, but appreciate having a text transcript that has been translated for their review.

#3: To Help Detect Fraud

Another way insurers can utilize transcription and translation services is to help detect fraud.

As much as it is great to think that everyone who files an auto or home claim is telling the truth, it just isn’t how things pan out in reality. According to the Insurance Information Institute, approximately $32 million is paid out on fraudulent property casualty claims each year, or right around ten percent of all paid losses.

Where the audio files and subsequent transcription documents play a role is that they provide documentation coming directly from insureds and claimants. These statements can often be compared to one another to help find discrepancies or even outright lies, as analyzing written language is far easier for an adjuster than having to sift through audio files. In addition, verbatim insurance transcription files generally include pauses, mix-ups in language, and other cues that can indicate the occurrence of fraudulent activity.

The other reason why having a transcript is important when it comes to fighting claims fraud is that it allows investigators evidence when they are trying to prosecute a third party for insurance fraud. In court cases, these transcripts are often used as a way to prove guilt. If the file ever goes to litigation, that transcript can make a difference because it specifically captures every on the audio recording.

#4: To Make File Notes Easier to Read Among Claims Staff

A fourth way that insurers can use transcription and translation documents is to simply keep their workflow moving smoothly.

When you convert audio to text, you end up with a file that can be read over quite easily and quickly. Should the file change hands in your department at any time, the new person on the claim can be brought up to speed without too much effort. For example, if an adjuster is out sick, a coworker can easily pick up the claim and continue working on it by reading the recorded statement transcription. Not only does this make the whole process easier overall, it saves the second adjuster a great deal of time, as reading the file takes far less effort than listening to a recording in real time. And, as anyone who has worked in the industry will tell you, time is a critical component to effectively managing claims!

Furthermore, this ability is also important for companies that regularly send claims through an escalation system. The previous adjuster does not have to provide as many direct notes in the file, as the new adjuster will be able to look information up using the exact words from the recorded statement transcription.

As you can tell from these four reasons, transcription and translation files are crucial to the way claims adjusters conduct business. While these are prime examples of why insurers need this type of service, they aren’t the only reasons. The ability for supervisors to review adjuster work for positive attributes, claims departments to look for examples on how to handle customer service, and several other important facets to the overall claims process all involve audio transcription files.

6 Tips for Hiring a Professional Transcription Service

/5 Comments/in /by Tyler Marshall

Are you searching for a new, high quality transcription company to work with? In order to ensure you are getting the best service possible, it is always important to thoroughly vet all potential recorded statement transcription firms prior to signing any contracts. But how do you know what questions to ask and how to tell if a provider is subpar?

At Allegis, we only offer top-notch transcription services to insurance carriers. However, we understand that there are many other industries requiring transcription services, such as medical, legal, education, and others. This guide is designed to be helpful no matter what industry you are in.

Here are six tips for hiring a quality transcription company.

Tip #1: Find Out Their Level of Expertise within Your Industry

One of the most important steps to take when hiring a quality transcription company is to find out their level of expertise within your industry. Many vendors focus on a specific industry. Find out who some of their past and present clients are as well. Have they served numerous universities and only one police department? Well, if you’re in law enforcement, they’re probably not the best vendor for you.

On the opposite end of the spectrum are vendors who say they can meet the needs of just about any industry. This isn’t an impossible business model to execute on – but it’s very difficult to do it well. If you are speaking with a vendor who serves numerous industries, make sure they segment transcriptionists by industry expertise and transcription type (type: meaning, verbatim, edited, slightly edited, etc.). The important thing is you don’t want the same transcriptionists switching from one industry to another. The same goes for transcription styles.

Also consider that industry expertise also means you get transcriptionists who understand industry-specific nuances, specific jargon, abbreviations, and unique phrases. Thus, it is vital that you find a quality transcription provider who has extensive experience with your particular industry and use case.

Tip #2: Inquire About Their Data Security Procedures

In some industries, the audio information being transcribed to text doesn’t include personal or confidential information. However, many companies requiring transcription often do have sensitive data within their recordings, including social security numbers, health records, financial data, and more. This is especially true for the insurance industry; recorded statements are fully of sensitive and personally identifiable data (PII). If your firm falls into this category, it is imperative that you work with a quality transcription team who places a high emphasis on data security, and who have documented, vetted security procedures and technology in place.

Hackers these days are smart. They know what companies to target to get the information they need for identity thefts and can easily find weaknesses within company systems. Any recorded statement transcription company you work with should utilize the latest tools available to keep your client’s personal data safe—from the moment the audio files arrive until the moment you receive the final transcript and beyond. They should also continually monitor their systems and adapt to changes in information security technology as they arise.

Tip #3: Ask About Turnaround Time and Scheduling

Another important thing to inquire about when hiring a transcription firm is their turnaround time. Are there set guidelines as to how many days a file should take to be transcribed before it is returned or is the schedule open-ended? It is important to be wary of any company that leaves the timeframe open because it could signal delays in your project, which might be a deal breaker for you.

You’ll also want to know whether or not they offer any sort of rush ordering. Working with a company that offers this type of service can be crucial during moments when an unexpected incident comes up that leaves you in a tough spot. Instead, find out what their policy is on emergency orders and the fastest turnaround time possible. Also, see if there’s a simple process for initiating these types of orders. Can you submit the rush orders online or do you have to call up customer service? The former method is much more convenient.

Tip #4: Determine How They Handle Changes in Workload

It is also important to ask any transcription companies you are thinking of hiring how they handle changes in workload. Certain industries, such as the legal and insurance fields, have a particular ebb and flow of the number of transcriptions they require at any given time. Some months can be insanely hectic, while other months can be slower (December is a good example of a slow month for insurance transcriptionists).

You’ll want to ask any potential transcription provider if they have the staff to handle a large surge in transcriptions and whether they scale their workers accordingly. This simple detail plays a major role in the quality of your final transcription project, so it is vital that you inquire ahead of time to give you an idea of what to expect if the situation ever arises.

Tip #5: Request Examples of Previous Projects

Another thing you should do when trying to find a high quality transcription provider is request examples of previous projects and references. This can include sample transcriptions, prior project details, and references from customers willing to speak with potential customers such as yourself.

While you can simply ask these questions, it is often better to speak with existing customers and review sample work before taking the plunge. You want to pick the right firm because, ideally, you’ll work with them for years to come. Switching is a pain and you want to minimize the chances of a switching headache as much as possible.. Marketing can make a company sound better than they really are, but example data from past projects provides a much clearer picture of how a firm performs when it comes down to getting the job done.

Tip #6: Learn What Quality Standards They Require for Their Transcriptionists

When it comes to verbatim transcription, quality is everything. Ask any company you are considering working with what standards they hold their transcriptionists to. Is it ninety-eight percent or higher? How many mistakes do they allow on a review? The greater the standard, the more likely your piece will come back complete and free of error.

In short, it is important to do thorough research before deciding on a recorded statement transcription company. Failure to do so can spell tons of trouble for your firm, but fully vetting a quality provider can mean a happy business partnership for many years to come.

7 Tips for Hiring a Verbatim Transcription Company

/0 Comments/in , /by Tyler Marshall

Hiring a verbatim transcription team to handle your firm’s recorded statements is an important part of the claims process. However, finding a provider that meets the exact needs of your company doesn’t have to be a difficult task. Consider these seven tips when looking around.

#1: Ask Whether They Do True Verbatim or Clean Verbatim Transcription

In some cases, the manner in which something is said is far more important than the words that are used. With insurance claims, this could not be more important. During a recorded statement, an insured or claimant is often conveying their side of the story. Inflection, emotion, and even brief pauses can make that information translate differently on paper—which can make a big difference during litigation or arbitration proceedings.

Companies transcribing in “clean verbatim” style remove brief utterances (“uhms,” “ahs”), filler phrases, and false starts. True verbatim transcription includes all these elements, which are quite important to the claims investigation and arbitration process.

Ask any transcription company you are considering hiring which one of these two process they offer or even if they provide a choice between them.

#2: Determine How Secure Their Data Security Protocols Are

Another thing to consider when deciding between providers is how secure their data protocols are. In this day and age, identity theft is a huge problem among large corporations—and insurers are definitely not immune. Very personal details of both insureds and claimants are revealed during a recorded interview, and turning those audio files over to a company that doesn’t have a data security plan in place can be detrimental to your business, should a data breach ever occur.

Be sure to also ask how long they keep audio files before securely deleting them. Some insurance transcription companies hold these recordings for months or even years, which can leave your firm unprotected against data theft if there is ever a large scale breach.

(Hint: Allegis Transcription offers top-notch enterprise-grade security procedures in place to protect the sensitive data of our clients.)

#3: Request Information on the Average Transcript Turnaround Time

Time is money in the insurance industry. Sometimes, getting a transcription file back in a reasonable timeframe can make a huge difference, such as when a file is about to go to arbitration or when you are up against a tight deadline.

Finding out that your new verbatim transcription company takes weeks and not days to return a document to you when you’re on a strict schedule can be incredibly frustrating. Thus, it is vital to ask about this part of the process before deciding to hire a particular translation company.

(Hint: At Allegis, our average turnaround time on transcription files is about four days. However, we also offer priority and rush services to ensure you have a document returned in as little as four hours.)

#4: Ask Whether They Can Handle Your Volume Level

Whether you have only a handful of transcriptions per month or several thousand, it is important to ask any firm you are considering if they can handle your particular volume level. Many companies offering insurance transcription online aren’t fully equipped or staffed for taking on large orders, which can create a huge issue as your company and transcription needs grow. Find one that meets your current order level now, but can also keep up with your volume in the future.

(Hint: At Allegis, we produce an average of 150,000 verbatim-style pages per month for our clients and are comfortable handling a wide range of order volumes.)

#5: Find Out Their Experience with the Claims Industry

There’s no doubt that insurance transcription is its own special niche.  One of the most important things to consider when hiring a verbatim transcription firm is what their level of experience with the industry entails. Find out whether or not they are familiar with industry jargon, claims protocol, and procedures. If they aren’t skilled in working with insurance claims specifically, it might be time to consider someone else.

(Hint: The insurance industry is Allegis Transcription’s primary focus. In fact, we work with some of the biggest carriers in the P&C industry.)

#6: Inquire How Long They’ve Been in Business

It is also important to inquire how long the transcription company has been in business. While some of the methods utilized today in verbatim transcription are state-of-the-art—instant uploads, digital files, secure backup, etc.—the industry has actually been around for many, many years. If they’ve only been open for a short amount of time, consider working with a firm that has more experience to ensure you’re getting the best possible service.

(Hint: Allegis has been in business for nearly two decades.)

#7: Ask What Their Accuracy Standard is for Verbatim Transcription

Accuracy is extremely important when it comes to recorded statement transcription—especially verbatim files. Ask any company you are considering what their accuracy standard is for their transcriptionists. Do they regularly review files? What is their internal filtering process like? With the insurance industry being so high stakes, it is really important to work with a transcription provider who takes accuracy very seriously.

(Hint: Allegis Transcription has a very high 98% standard for our verbatim recorded statement transcriptions. Find out more here.)

Finding the right verbatim transcription provider takes a little time and effort. However, keeping these seven tips in mind will ensure you hire the right one for your needs.

Transcribe In-House or Outsource? Seven Factors to Consider

/1 Comment/in /by Tyler Marshall

Assessing Your Options

Understanding how other insurers manage recorded statement transcription and the implications of transcribing in-house vs. outsourcing, will help insurers determine their own approach. Until now, insurers and third party administrators (TPAs) have had little insight into how their peers procure recorded statement transcription services. Many insurers use in-house transcription teams, some outsource, while others take a hybrid approach.

 

How Other Insurers Are Answering This Question

Traditionally, insurers maintained internal staff for recorded statement transcription. This began to change a little over 20 years ago when some insurers began outsourcing recorded statement transcription work to various vendors. Since then, the popularity of outsourcing has only increased.

Allegis’ 2014 market research indicates that eighty percent of the top twenty five largest property and casualty (P&C) insurers outsource at least part of their transcription. Sixty five percent outsource all transcription to one or more vendors. Fifteen percent take a “hybrid” approach by utilizing both an in-house team and partially outsourcing. Twenty percent keep all transcription in-house.

 

Every Insurer Has Unique Transcription Needs

Every insurer is unique and what works for one insurer may not be the best option for another. The remainder of this post details seven major areas to take into account when determining your approach to recorded statement transcription.

 

Seven Factors to Consider

1) TRANSCRIPT TURNAROUND RELIABILITY

Outsource: Vendors closely monitor turnaround times based on strict service level agreements. Contracts often stipulate penalties for missed turnarounds. Some vendors may prioritize work from certain clients over others.

In-House: Staff vacations or illnesses can impact reliability. Having transcriptionists on-site can make it easier for management to monitor productivity and ensure on time transcript completion.

 

2) WORKFORCE LOCATION

Outsource: Transcriptionists are typically spread out geographically. This model tends to expand access to workforce talent. Some vendors are 100% US-based, while others use transcriptionists from across the globe, often based in countries such as India or the Philippines.

In-House: Many insurers have on-site teams, but our recent market analysis found a growing number of insurers using remote, employee transcriptionists. As employees they still receive traditional benefits, but work from home. Also, to a lesser extent, we found that some insurers are using independent contractors, while continuing to manage these individuals with internal resources. We should note that we have not seen insurers use remote transcriptionists based outside the U.S.

 

3) WORKFORCE FLEXIBILITY

Outsource: Transcriptionists are only paid for the amount of work produced (e.g. number of minutes or pages transcribed), which incentivizes productivity.

In-House: Sick leave and vacation days can cause fluctuations in production capacity. Workers may be paid the same regardless of how quickly they complete a project.

 

4) WORKFORCE BENEFITS

Outsource: Vendors can typically offer their services for less because many hire independent contractors. This eliminates the need to pay fringe benefits, taxes, health insurance and other related expenses.

In-House: Many insurers with in-house teams hire transcriptionists as full-time employees, which necessitates paying for benefits.

 

5) WORKFORCE MANAGEMENT

Outsource: Venders often have substantial experience in regularly hiring and maintaining a large workforce.

In-House: Taking on hiring and turnover costs can be more than many insurers anticipate.

 

6) QUALITY

Outsource: This varies from vendor to vendor and the greatest factor affecting quality tends to be workforce location. For example, US-based transcriptionists tend to produce higher quality transcripts than transcriptionists based in the Philippines. The rigorousness of a vendor’s quality control process also plays a large role in quality outcomes.

In-House: This can be a challenging issue for those overseeing in-house teams. Benchmarking your team, especially smaller teams, can be difficult and hiring quality control staff can be cost prohibitive. Although, for in-house, on-site teams, having a supervisor physically present and reviewing work can promote higher quality work.

 

7) SECURITY

Outsource: This depends on how a vendor receives audio files and returns completed transcripts. Unsecured email is notoriously risky. Secured online order management, secured TLS email, or Secure File Transfer Protocol (SFTP) can be very safe.

In-House: If an in-house, on-site team uses secured emails, this can be a very secure setup. Teams that neglect to secure their email communications (e.g. TLS encryption) and/or work offsite without implementing security software, VPN connections, and other important security measures can expose the company to significant security risks.