How long will it take to recoup the costs of implementing speech recognition software in my office?
Obviously this can be highly variable and depends on whether your providers are currently using paid transcription or direct data entry. Likewise, if your users are currently hand-typing, the ROI will depend upon how you value the time, productivity and reduced billing from inefficient documentation. The following table shows ROI calculations for a pilot study of speech recognition software at Dartmouth-Hitchcock Medical Center and shows the time to break even with speech recognition software compared with varying levels of annual paid transcription.
