Cost Benefit Analysis for Transcription SITUATION: You are evaluating other alternatives for your transcription needs as you are continuously plagued with backlogs due to staffing shortages. You are analyzing two alternatives are listed below as well as the present situation as a third alternative. A full-time work week at your facility is 37.5 hours per week. All other information is included below. 1) Determine the cost of each alternative including personnel, training, equipment costs and any other stated associated costs. follow the statement of the alternative Statistical information and costs 2) Define the advantages and disadvantages of all 3 alternatives remembering that there are other aspects than the financial impact that must be considered in making a decision 3) Determine which alternative you would choose and justify your decision ALTERNATIVE Eliminate in house transcription area and send out all transcription work to an outside service. Retain half-time clerk to distribute and file reports who will then report to assistant director ALTERNATIVE II: Retain one transcriptionist for STAT work. Send all other transcription to the outside service. Retain half-time clerk for filing and distribution. Both will report to assistant director ALTERNATIVE II: Continue with current situation of in-house transcription as stated below. . BASELINE INFORMATION Current Personnel 1 Transcription Coordinator/Supervisor $62,000 annual salary (Status: Exempt not eligible for O/T) 3 Full time transcriptionists 1 Half time transcriptionists $22.00 per hour $22.00 per hour $15.50 per hour Half time cler 28% full time workers only) 7% of annual base wage Additional work hours 12 hours extra per week average per transcriptionist Benefits Hiring/Training Costs 2 hours per week for supervisor per week 3 hours per week for clerk Equipment: Lanier Digital Dictation System (leased at $3200/month) 4 Lanier Transcribers (owned) 5 PCs (owned) Plan to upgrade all PCs at $1250 each Equipment Maintenance $357.00 annually for each piece of owned equipment Other costs Copies $.035 per page (all reports are copied for distribution to providers) Types of Reports Total 21215 10293 15963 20842 STAT (Included in total) Discharge Summaries Operative Reports Consultations History & Physical Reports 6500 1850 3359 60% of Discharge Summaries are 2 pages long 50% of operative reports are 2 pages long 30% of consultations are two pages long 100% of H&Ps are 2 pages long Service Costs Discharge Summaries and all non-STAT work $4.50 per page STAT reports One copy of each report included with returned work for provider. $6.00 per page HINT: Consider who gets overtime pay and at what rate it is paid Cost Benefit Analysis for Transcription SITUATION: You are evaluating other alternatives for your transcription needs as you are continuously plagued with backlogs due to staffing shortages. You are analyzing two alternatives are listed below as well as the present situation as a third alternative. A full-time work week at your facility is 37.5 hours per week. All other information is included below. 1) Determine the cost of each alternative including personnel, training, equipment costs and any other stated associated costs. follow the statement of the alternative Statistical information and costs 2) Define the advantages and disadvantages of all 3 alternatives remembering that there are other aspects than the financial impact that must be considered in making a decision 3) Determine which alternative you would choose and justify your decision ALTERNATIVE Eliminate in house transcription area and send out all transcription work to an outside service. Retain half-time clerk to distribute and file reports who will then report to assistant director ALTERNATIVE II: Retain one transcriptionist for STAT work. Send all other transcription to the outside service. Retain half-time clerk for filing and distribution. Both will report to assistant director ALTERNATIVE II: Continue with current situation of in-house transcription as stated below. . BASELINE INFORMATION Current Personnel 1 Transcription Coordinator/Supervisor $62,000 annual salary (Status: Exempt not eligible for O/T) 3 Full time transcriptionists 1 Half time transcriptionists $22.00 per hour $22.00 per hour $15.50 per hour Half time cler 28% full time workers only) 7% of annual base wage Additional work hours 12 hours extra per week average per transcriptionist Benefits Hiring/Training Costs 2 hours per week for supervisor per week 3 hours per week for clerk Equipment: Lanier Digital Dictation System (leased at $3200/month) 4 Lanier Transcribers (owned) 5 PCs (owned) Plan to upgrade all PCs at $1250 each Equipment Maintenance $357.00 annually for each piece of owned equipment Other costs Copies $.035 per page (all reports are copied for distribution to providers) Types of Reports Total 21215 10293 15963 20842 STAT (Included in total) Discharge Summaries Operative Reports Consultations History & Physical Reports 6500 1850 3359 60% of Discharge Summaries are 2 pages long 50% of operative reports are 2 pages long 30% of consultations are two pages long 100% of H&Ps are 2 pages long Service Costs Discharge Summaries and all non-STAT work $4.50 per page STAT reports One copy of each report included with returned work for provider. $6.00 per page HINT: Consider who gets overtime pay and at what rate it is paid