Translation and Transcription Process | Medical Transcription Service Company

100 %
0 %
Information about Translation and Transcription Process | Medical Transcription Service...
Health & Medicine

Published on December 11, 2007

Author: amar519

Source: slideshare.net

Description

Translation and Transcription Process System information. Medical Transcription Service Company. Affordable transcription and accurate translation services

UNDERSTANDING MEDICAL TRANSCRIPTION BUSINESS IN INDIA WITH GAINS AHEAD “ The learning and knowledge that we have, is, at the most, but little compared with that of which we are ignorant.” Plato © Copyright Gains Ahead

MEDICAL TRANSCRIPTION OVERVIEW Medical Transcription, also known as MT, is an allied health profession which encompasses the process of transcription or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals into text format for various medico-legal purposes © Copyright Gains Ahead

Medical Transcription, also known as MT, is an allied health profession which encompasses the process of transcription or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals into text format for various medico-legal purposes

NEED FOR PATIENT CARE DOCUMENTATION A medical report is a permanent medico-legal document that formally states the results of a medical investigation Report is created to comply with laws and serve in support of an insurance claim Transcribed record is more legible and accurate documentation To facilitate communication among healthcare professionals Aid and advance the science of medicine © Copyright Gains Ahead

A medical report is a permanent medico-legal document that formally states the results of a medical investigation

Report is created to comply with laws and serve in support of an insurance claim

Transcribed record is more legible and accurate documentation

To facilitate communication among healthcare professionals

Aid and advance the science of medicine

CURRENTLY THE SERVICE IS BEING PROVIDED BY Casual Transcriptionists working from home or home office Medical Transcription Companies Medical Transcription Departments at the Hospitals/Clinics *Both by domestic and outsourced resources © Copyright Gains Ahead

Casual Transcriptionists working from home or home office

Medical Transcription Companies

Medical Transcription Departments at the Hospitals/Clinics

*Both by domestic and outsourced resources

THE PROCESS Dictations are recorded via hand-held devices (recorder) or telephone connected to computer; the computer records the entire dictation Dictations transferred via internet using file transfer protocol, email or any other suitable transfer method Reports are transcribed in suggested format (usually word/doc format) Transferred back via internet either through secured file transfer protocol system or any other suggested method © Copyright Gains Ahead

Dictations are recorded via hand-held devices (recorder) or telephone connected to computer; the computer records the entire dictation

Dictations transferred via internet using file transfer protocol, email or any other suitable transfer method

Reports are transcribed in suggested format (usually word/doc format)

Transferred back via internet either through secured file transfer protocol system or any other suggested method

THE PROCESS © Copyright Gains Ahead

PROCESSED REPORTS USED FOR VARIOUS PURPOSES © Copyright Gains Ahead

ALLIED SERVICES © Copyright Gains Ahead Document Management Medical Billing and Coding Scanning and Indexing Appointment Scheduler Patient Reminder Services Lab Order Integration MEDICAL TRANSCRIPTION

MARKET SIZE A broad estimate, the market size is of 10 to 25 billion US dollars annually (source www. wikipedia.org) Growing steadily by 15% each year India’s share is roughly over 200 million USD per year Capturing less than 2% of the overall size of the US market Tremendous opportunity waiting to be tapped © Copyright Gains Ahead

A broad estimate, the market size is of 10 to 25 billion US dollars annually (source www. wikipedia.org)

Growing steadily by 15% each year

India’s share is roughly over 200 million USD per year

Capturing less than 2% of the overall size of the US market

Tremendous opportunity waiting to be tapped

THE INDIAN EDGE – COMPETATIVE ADVANTAGE Indian wages – as low as 1/8th of those in US Large pool of English speaking population Around 12-hour of time zone difference Growing steadily by 20% each year in India Good conversion value © Copyright Gains Ahead

Indian wages – as low as 1/8th of those in US

Large pool of English speaking population

Around 12-hour of time zone difference

Growing steadily by 20% each year in India

Good conversion value

WHAT INDUSTRY EXPERTS HAVE TO SAY? HEALTHCARE BPO HAS GOOD FUTURE Deccan Herald Indian BPO companies will be able to grab business worth $800 million from US healthcare companies alone Demand for healthcare outsourcing has also been seen in European countries like Germany and France Till date, USA is the biggest market for healthcare outsourcing but now even the UK based companies are trying to follow the suit India's inherent strength is the quality of our human resource pool © Copyright Gains Ahead Experts taken from articles published under NASSCOM media room press coverage

HEALTHCARE BPO HAS GOOD FUTURE

Deccan Herald

Indian BPO companies will be able to grab business worth $800 million from US healthcare companies alone

Demand for healthcare outsourcing has also been seen in European countries like Germany and France

Till date, USA is the biggest market for healthcare outsourcing but now even the UK based companies are trying to follow the suit

India's inherent strength is the quality of our human resource pool

UP AND RUNNING The Hindu Business Line eworld The Indian medical transcription industry is on its feet again and appears to have learnt from past mistakes At least 120-150 companies engaged in medical transcription in India The sector is clocking an annual revenue aggregate of about $220-240 million According to the AAMT, the global medical transcription pie is estimated to be anywhere between $12 billion and $20 billion, with the US being the largest market Only 50-60 per cent of the US transcription market gets outsourced Approximately 10 per cent is offshored to countries such as India and the Philippines © Copyright Gains Ahead Experts taken from articles published under NASSCOM media room press coverage

The Indian medical transcription industry is on its feet again and appears to have learnt from past mistakes

At least 120-150 companies engaged in medical transcription in India

The sector is clocking an annual revenue aggregate of about $220-240 million

According to the AAMT, the global medical transcription pie is estimated to be anywhere between $12 billion and $20 billion, with the US being the largest market

Only 50-60 per cent of the US transcription market gets outsourced

Approximately 10 per cent is offshored to countries such as India and the Philippines

MEDICAL TRANSCRIPTION BACK IN THE PINK Sujata Dutta Sachdeva, The Sunday Times Of India Since 2004, the sector has slowly but steadily worked its way up It generates revenues worth $195 million The figure is expected to go up to $647 million by 2010, according to ValueNotes study © Copyright Gains Ahead Experts taken from articles published under NASSCOM media room press coverage

Since 2004, the sector has slowly but steadily worked its way up

It generates revenues worth $195 million

The figure is expected to go up to $647 million by 2010, according to ValueNotes study

MEDICAL TRANSCRIPTION INDUSTRY RACING AHEAD Sapna Agarwal, Business Standard The $250 million lean medical transcription (MT) industry in India is racing ahead to grab a major slice of the global $12 billion pie  As per a NASSCOM report, MT will become the fourth largest foreign exchange earner in the next five years With six to seven strong contenders and 200 serious players in all, the employment potential of the industry is huge The MT service in India has generated over 20,000 jobs and will add at least 25 per cent more jobs per year © Copyright Gains Ahead Experts taken from articles published under NASSCOM media room press coverage

The $250 million lean medical transcription (MT) industry in India is racing ahead to grab a major slice of the global $12 billion pie 

As per a NASSCOM report, MT will become the fourth largest foreign exchange earner in the next five years

With six to seven strong contenders and 200 serious players in all, the employment potential of the industry is huge

The MT service in India has generated over 20,000 jobs and will add at least 25 per cent more jobs per year

RISKS AND ISSUES Entry Barrier – Difficult to penetrate US market because of high marketing costs Quality Concerns – Attention to quality is the only way of building and maintaining trust in the market, even price conscious and pricing competitiveness alone will not ensure success Labor Dependent – The business is manpower dependent, needs excellent human resource and management skills Strong rupee value Political and destabilizing factors Perceived threat from intelligent voice recognition software © Copyright Gains Ahead

Entry Barrier – Difficult to penetrate US market because of high marketing costs

Quality Concerns – Attention to quality is the only way of building and maintaining trust in the market, even price conscious and pricing competitiveness alone will not ensure success

Labor Dependent – The business is manpower dependent, needs excellent human resource and management skills

Strong rupee value

Political and destabilizing factors

Perceived threat from intelligent voice recognition software

CONCLUSION This no doubt is an attractive project since it is not only hugely profitable, but also presents much potential for scaling up substantially. The threats and issues mentioned seem infinitesimal in comparison with the benefits, profitability, and huge potentials. The infrastructure for this project can also be used for allied services Expert guidance is essential to integrate technology, infrastructure, training, and for procuring business. © Copyright Gains Ahead

This no doubt is an attractive project since it is not only hugely profitable, but also presents much potential for scaling up substantially. The threats and issues mentioned seem infinitesimal in comparison with the benefits, profitability, and huge potentials. The infrastructure for this project can also be used for allied services

Expert guidance is essential to integrate technology, infrastructure, training, and for procuring business.

INTRODUCTION – GAINS AHEAD Gains Ahead is a specialized Transcription Consultancy and Outsourcing Solutions Company that envisioned and pioneered in creation of the flexible transcription business and service practices that today enable transcription business providers and transcription service seekers to operate more efficiently and to produce more value. © Copyright Gains Ahead

Gains Ahead is a specialized Transcription Consultancy and Outsourcing Solutions Company that envisioned and pioneered in creation of the flexible transcription business and service practices that today enable transcription business providers and transcription service seekers to operate more efficiently and to produce more value.

SERVICES © Copyright Gains Ahead ORGANIZATION DEVELOPMENT PRODUCTIVITY MANAGEMENT RECRUITMENT TRAINING INFRASTRUCTURAL SETUP MARKETING SOLUTIONS BUSINESS PROCUREMENT SUCCESS

WHY GAINS AHEAD Deep transcription industry and business process expertise with proven track record Mobilizing the right people, skills, and technologies to help clients established their business and help established clients to improve their performance End to end solutions at one stop © Copyright Gains Ahead

Deep transcription industry and business process expertise with proven track record

Mobilizing the right people, skills, and technologies to help clients established their business and help established clients to improve their performance

End to end solutions at one stop

CONTACT US Registered Office Gains Ahead Amar Pal Singh, President Contact: +91 9313068885 Email: business@gainsahead.com Website: www.gainsahead.com © Copyright Gains Ahead

Registered Office

Gains Ahead

Amar Pal Singh, President

Contact: +91 9313068885

Email: business@gainsahead.com

Website: www.gainsahead.com

Add a comment

Related presentations

Related pages

Transcription and Translation - National Human Genome ...

... and tools for classroom lessons.One of these resources focuses on the topics of transcription and translation.This resource is an interactive ...
Read more

Transcription, Translation and Replication

Transcription, Translation and Replication . Contents. 1DNA, RNA and protein synthesis; 2DNA replication. 2.1Mistakes in DNA replication;
Read more

Transcription | Translation and Transcription Process ...

Translationandtranscription.com the best place to know about latest transcription work trend, transcription rates, Transcription Company, Machine and tools.
Read more

French Transcription | Translation and Transcription ...

French transcription services are mostly needed for academic transcription such as lecture or seminar transcription, conference transcription, ...
Read more

Transcription (genetics) - Wikipedia, the free encyclopedia

Transcription factories can also be localized using fluorescence in situ hybridization or marked by antibodies directed against polymerases.
Read more

Ribosomes, Transcription, and Translation

Ribosomes, Transcription, and Translation The genetic information stored in DNA is a living archive of instructions that cells use to accomplish the ...
Read more

Transcription and Translation - YouTube

You can learn more about transcription and translation in this course I taught with Udacity: https://www.udacity.com/course/viewer... This is ...
Read more

Medical Transcription Services Company, Medical ...

Medical Transcription Company. MTS Transcription Services, a Managed Outsource Solutions Company, based in Tulsa, Oklahoma, providing accurate medical ...
Read more

Transcribe and Translate a Gene - Learn Genetics

... "Transcribe and Translate a Gene," Learn.Genetics, 22 June 2014, ...
Read more

Transcription - YouTube

NDSU Virtual Cell Animations Project animation 'Transcription'. For more information please see http://vcell.ndsu.edu/animations Transcription ...
Read more