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    Future of Medical Transcription

    The medical transcription industry will continue to undergo metamorphosis change based on many contributing factors like advancement in technology, practice workflow, regulations etc. The evolution toward the electronic patient record demonstrates that, over time, documentation habits will change either through standards and regulations or through personal preferences.

    There will also be demands to enhance patient safety, increase efficiency, and reduce costs. It is mandatory for service providers and healthcare practices to migrate to a HIPAA compliant environment which come with inbuilt software technologies and modern day transcription solutions.

    Currently, medical transcription off shoring from India generates USD 195 million in revenues; and is expected to reach over USD 647 million by 2012. The medical transcription outsourcing grabbed a lot of media attention in India during 1997 - 99, well before 'BPO' became a household term. People were excited about the huge opportunity that India had hit upon. However, the industry witnessed a rough patch around 2000

    “Significant growth is envisaged for this industry in the near future; mostly centred around Medical Transcription Service Organizations (MTSOs)”, says Prem Sarkar CEO of Harvest a decade old training organization. Today, the US$195 million strong industry is up again, and silently supplying to the US$12 billion medical transcription industry in the US. There has been a systematic ramp-up and a steady flow of business. During one of his visits to America Mr Sarkar offered a US Hospital a flat 40% saving in administration cost by outsourcing transcription work to India .

    With high costs and manpower constraints in the US, MTSOs with proven offshore capabilities will be in an advantageous position in future. According to analysis “the industry will witness greater consolidation, with large American MTSOs eyeing the smaller Indian offshore vendors.

    India is the top outsourcing destination with primary advantages of low operating costs, well educated and qualified talent pool with strong lingual capacity. Most of the work outsourced to India by U.S MT firms and hospitals focus primarily on quality work at the lowest cost. The work that is outsourced is generally the work done by US based transcriptionists. These firms have found that the work can be completed in a timely fashion within the TAT with high quality from India at a savings of almost 50%.and above. However, successful outsourcing to India still entails challenges which are firmly grounded in cultural differences between the countries lacks of quality the training and expertise in MT, Billing and Coding.

    With high costs and manpower constraints in the US, MTSOs with proven offshore capabilities will be in an advantageous position in future. According to analysis “the industry will witness greater consolidation, with large American MTSOs eyeing the smaller Indian offshore vendors.

    India is the top outsourcing destination with primary advantages of low operating costs, well educated and qualified talent pool with strong lingual capacity. Most of the work outsourced to India by U.S MT firms and hospitals focus primarily on quality work at the lowest cost. The work that is outsourced is generally the work done by US based transcriptionists, billers and coders at a much higher cost to the provider. These firms have found that the work can be completed in a timely fashion with high quality from India at a savings of almost 50%. However, successful outsourcing to India still entails challenges which are firmly grounded in cultural differences between the countries. Further, Indian labor lacks the training and expertise in MT, Billing and Coding.

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    Health Counselling

    The medical transcription industry will continue to undergo metamorphosis change based on many contributing factors like advancement in technology.
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    Pratical Training

    The medical transcription industry will continue to undergo metamorphosis change based on many contributing factors like advancement in technology.
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    theoretical training

    The medical transcription industry will continue to undergo metamorphosis change based on many contributing factors like advancement in technology.
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