There’s a premium on professional transcription services because it’s not something which can be automated or done by unskilled transcriptionists without the proper tools. The devil is in the details, because there are certain sectors which need extreme levels of accuracy in transcribed data. Even a single mistake could prove to be extremely costly. It might be easier to start with an understanding of the concept, and then move to actual industry requirements and solutions. A basic explanation of the transcription industry is that they convert speech in audio or video formats into text in some digital format. A transcriptionist listens to the recorded or live feed and must accurately type it into text. It’s not wrong to think that anyone with half a brain should be able to do this, but speed and accuracy are critical to this field. This is why only professionals can do this job, and even they need the help of hi-tech hardware and software tools to maintain accuracy while providing huge volume transcriptions. As a general rule, a 15-minute audio track must be transcribed within an hour. Tools aside, the job calls for intensive training and has a fairly high learning curve. Medical transcription providers require their staff to be well-versed in the field of medicine and aware of all the terminology that physicians use. Many will hire pharmacy and nursing assistants and train them to be transcriptionists. Way it works is that doctors record the case details and other information they want to see in case files, and send over the audio to be transcribed. The job has to be done perfectly, because even a small error or omission can be fatal for patients and would inevitably end up as a medical malpractice claim. Such errors have been known to end the careers of the medical professionals involved. Another concern is the security provided for the audio files and transcribed data. In the U. S., health care providers are required to handle data in a manner that is HIPAA complaint and protects the security and privacy of patient records. Then there’s also the issue of compatibility. The provider has to be able to provide text data in a format that is compatible with the naming protocols and standards required for the Electronic Medical Record (EMR/EHR) system used by the client. The same high degree of accuracy is required for legal transcriptions. Lawyers record hours of depositions and then need to have it all transcribed word for word. Again, a single error can make the difference between winning and losing a court case. If it happens because of a clerical error, that’s again grounds for a malpractice lawsuit against the lawyer. Recorded speech transcriptions aside, there are many value-added professional transcription services that are in heavy demand. For instance, audio may be transcribed into text in several languages. Live video streams need closed captioning, and this is yet another area where no error will be tolerated since there is no verification process and it cannot be corrected. The bottom line here is that trying to get transcriptions done on the cheap often leads to be very expensive. Read more about The Importance Of Professional Transcription Services visiting our website.