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Newsletter - Point and Click vs. Transcription...   Message List  
Reply | Forward Message #103 of 215 |
MT India Newsletter

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27 Nov 2004
***********************************************************
ADVERTISEMENT:
****************
HealthScribe India is looking for Medical Transcriptionists

Employee Benefits:

Include an excellent career growth opportunity, attractive remuneration
package including free food, transportation, medical/accident insurance
cover, and all statutory benefits.

* Experienced MTs have the opportunity to work from home.
* Experienced MTs will be paid a joining bonus of Rs. 10,000 on joining
HealthScribe.  This is in addition to regular salary and line incentives.
* Outstation Experienced MTs will be paid Rs. 3000 pm for 2 months towards
accommodation.

Click here for details:
http://www.mtindia.org/advt.html

Or email to healthscribe@...

***********************************************************
ADVERTISEMENT:
****************

Billing and Coding Seminar in Delhi - Dec 11.

* Chief speaker - Mr. Bruce Westernberg, an academician, and a pioneer in
the US Reimbursement processes.

* The objectives of the seminar are:
=> Opportunity to network with Industry experts.
=> Training in basic and advanced concepts in billing and coding.

* Who should attend?
=> Healthcare BPOs wanting to expand business in US healthcare
=> MTSO interesting in entering billing/coding domain
=> Individuals interested in an advanced crash course in billing and coding

* How to Enroll?
=> Please get in touch with Mr. Sudhir Mehndiratta. (
sudhir@... and
9811203654).
=> There is a nominal fee of Rs 3000 for a firm (2 participants) for the
seminar, which is refundable if you are not able to attend.

********************************************************

Point and Click vs. Transcription...

********************************************************
Dear Friends,

Thanksgiving Greetings from Team MTIndia!

For The Record's latest edition has an analysis of EMR data entry vs. tradit
ional transcription methods, advantages and disadvantages.

To read the entire article:
http://www.fortherecordmag.com/ftr_enews1104.shtml

To participate in the Coffee Break XV, click here now:
http://www.mtindia.org/jobs/

Entries to Coffee Break XV must reach us before 1700 hrs, 01st of
December. Enjoy

Ciao!

Maj (Dr.) Amit Chatterjee, SM
Strategist / Founder ~
mailto:amit@...
MT India ~ www.mtindia.org
"The Community of MT Professionals"

***********************************************************
NEWS AND VIEWS :
*****************

1) MEDICAL TRANSCRIPTION: The Resurrection...

Or is it? With about 12,000 people and $115 mn in revenues, the medical
transcription industry was never really dead. It was just going through a
tough transition. Now, that seems to be over

According to US Bureau of Labor Statistics (BLS), there were a total of
97,810 medical transcriptionists working in the US in May 2003, the latest
period for which data was available. "Contracting out transcription work
overseas," the 2002 Employment Outlook report noted, is "not expected to
significantly reduce the need for well-trained medical transcriptionists
domestically." This is reflected in a press release from the Medical
Transcription Industry Alliance which said, "There are insufficient numbers
of qualified medical transcriptionists to meet the enormous demand."

However, not everyone who started out pursuing this opportunity a few years
back survives today to grab the second chance. Those who survive are the
ones who invested in understanding the business and establishing a name for
themselves in the market. These are the ones that are reaping the benefit.
Fortune actually favors the prudent these days.

Says Raman Kumar, CEO of C-Bay Systems, arguably the largest medical
transcription company in India with a controlled workforce (direct and
indirect included) of 3,500 people, "Companies in the early phase relied
solely on the middleman to get business. That cannot be a viable business
model because it is important to own the customers. Otherwise, the customer
begins to dictate terms to you."

The C-Bay model was completely opposite to what most people were following
in India during those days. "We set up our front-end office in the US and
focused on building our presence in the market. It takes much more
investment to set up the front-office. So, that's where we focused
initially."

It managed its back-end by setting up relationships with franchisees who
were trained by C-Bay and by keeping a strict control on the quality of the
work. Kumar reasons that, "We did not waste our efforts in the back end at
that time. After consolidating our front end presence, we focused on the
back end."

With the front end in place, C-Bay turned its attention to the back end and
set up its own center in Hyderabad, Bangalore, and a joint venture with
Godrej in Mumbai. It also acquired some of its franchisees and is still
actively negotiating for some more deals.

And that is a very significant difference in the strategy of companies that
are dominating the medical transcription industry today. Needless to say,
companies like HealthScribe, Heartland, Spryance, Acusis, and Focus Infosys
have a strong presence in the US.

Says Suresh Nair, CEO of HealthScribe India, "We have a small number of HBT,
but that is not our primary model. Our HBTs are essentially ex-employees who
may have moved to different cities or may have quit for personal reasons."
HealthScribe employs 1,350 people of which only about 100 people work from
home.

Acusis that actively promotes HBT finds it a viable model. "Technology has
matured enough to allow people to work from home," says KB Anand, COO,
Acusis. "We have a tech team of 50 people who have developed a customized
solutions called Accusuite, which manages voice from US to India, and
assigns it to a specific HBT."

While ITeS has been touted as the industry that could harness the idle
talent of housewives, young mothers, and others by allowing people to work
from home, medical transcription is the only industry that has actually done
it. It is estimated that HBTs execute between 10-20 percent of the MT work
that is offshored to India.

The industry is leaving no stone unturned to address the security of patient
information. It is one of the reasons why MT companies in Bangalore have
come together under a banner called Indian Medical Transcription Industry
Association (IMTIA).

Says Suresh Nair who is also the president of the association, "The idea is
to share experiences and best practices amongst members. Most often,
security breaches occur because people are not aware of them."

Hospitals were appalled at the poor quality of work that was being churned
out by the industry. "Lured by the hype numerous garage start-ups came up,
with little focus on quality and processes which soon reflected in the
shoddy work," says Som Marappa, president and CEO of US-based MedSoft, with
delivery centers in Bangalore, Coimbatore, and Mysore.

Today, the industry watchword is quality. "The industry has learnt that it
is only the focus on quality that will see it through," says Suresh Nair.
With 98 percent accuracy levels expected, it is indeed a tall order. The
industry is sparing no pains to gain this level of accuracy. The average
training is about nine months long and the employee gets productive only
after a year. "The gestation period in training a medical transcriptionist
can take up to two years and that is why it makes sense to look at
destinations with lower cost structure," says V Raman Kumar.

The margins, contrary to popular belief, are not small. At 15-18 percent, it
is quite healthy by the outsourcing industry standards. But that kind of
margin is expected only after reaching a scale, due to deployment of
technology as well as economies of scale.

The MT industry does not necessarily have to work at night, except in cases
offering 24x7 service. The attrition rate at 15 percent is, therefore, far
lower than the BPO industry. Says Veer Sagar, chairman of Selectronics
Equipment and Service, "This is intelligent work which requires an
analytical and logical mind. This goes a long way in curbing attrition
because the work is not repetitive."

At the same time, there was a shortage of qualified transcriptionists. In
the Journal of AHIMA, Carrie Boatman, director of professional relations for
the American Association for Medical Transcription said, "The problem facing
employers is that the majority of the transcriptionists graduating from a
program require additional training before they can be truly productive.
Training the staff is not a popular option. Training transcriptionists is an
expensive proposition that can require six months to a year."

http://www.voicendata.com/content/bporbit/default.asp

2) MedQuist Inc. has announced the appointment of two new officers to the
MedQuist senior management team.

On November 29, 2004, Terry Cameron will join the Company as senior vice
president of marketing and business development. Terry joins the Company
from Ingenix, Inc. (a United Healthcare Company), where he had a similar
position leading Ingenix to great success via new product planning, market
research, alliancing and acquisition activities. Prior to his Ingenix
experience, Terry was a vice president at Medicode, executive director of
Washington University's Practice Plan, and director of revenue cycle
management of the Duke University Health System.

On November 30, 2004, Jim Weiland will join the Company as the senior vice
president of sales to lead the Company's newly combined sales force. Jim
comes to MedQuist from Cardinal Health, Inc., where he was vice president of
corporate solutions. Jim has an extensive career spanning over twenty years
of leadership in healthcare sales, finance and operations with American
Hospital Supply, Baxter, Allegiance Healthcare and, most recently, Cardinal
Health. Jim has been recognized as a top performer and results driven leader
in each of his assignments

http://www.mysan.de/international/article7875.html

3) Excerpt from Advance on offshore outsourcing

"I guess I'm probably an example of someone who has done a turnaround on the
issue of offshore," admitted Brenda J. Hurley, CMT, FAAMT, director of
industry relations, Medware Inc. "I am now totally convinced there is plenty
of opportunity for every skilled MT in the United States. It's just simply
that there aren't enough professionals to provide the current workforce
needs," she assured.

Supporting Hurley's statement, Donald (Skip) L. Conover, president, CBay
SystemsT, stated, "There was a study done through the Medical Transcrip-tion
Industry Alliance last year, in which 69 companies participated, and they
identifiedat that time1,800 open positions."

And according to David Iwinski, president and CEO, Acusis®, "Even the
American Association for Medical Transcription has said that even if you
doubled the foreign producers, we still wouldn't have enough Americans for
the jobs available in the United States."

Everyone is also familiar with the "coding shortage," and Michael von Grey,
MBS, BSc, RevenueMed Inc., states, "There is an existing coding shortage,
and it's only going to become more pronounced."

The reason is, said von Grey, "We have an aging population and a projected
increase in patient acuity, factors that lead toward growth in the number of
MTs and coders that will be required."

Capacity Concerns

In response to this HIM labor shortage in the United States, many
professionals in the field feel the number one benefit to offshore
outsourcing is, coincidently, capacity.

"The good thing about some companies operating out of offshore locations is
that there is a lot of capacity available." Conover continued, "In our
industry it's not true that jobs are being sent overseas at the expense of
the American worker. Going offshore is a matter of getting the work done at
all," he explained.

And Iwinski added, "No matter what we think, politically and so forth, there

just aren't enough people in the United States."

With a shortage of coders and MTs comes a shortage of staff members for HIM
directors to manage. So to keep up with the changing times, HIM directors
need to take on a new role. "I think we're only scratching the surface of
the useful data that can be extracted from transcription, coding, etc.,"
Iwinski added. "If the HIM directors start to envision themselves as
extractors of useful managerial, treatment and patient data and less as
paper pushers, they'll have very long and possibly much more fulfilling
careers."

4) MedQuist to Display Product Enhancements at RSNA's Global Forum

MedQuist's clients and guests will have not one, but three, opportunities to
view demonstrations of the company's products, which are designed to
increase customers'; revenue cycles and decrease their costs, at the
Radiological Society of North America's 90th Assembly and Annual Meeting in
Chicago from November 28 - December 2.

MedQuist, a leading provider of electronic medical transcription, health
information and document management services, will feature SpeechQ for
Radiology, its speech recognition application, at three locations at RSNA's
Global Forum. MedQuist will have its own booth to give product
demonstrations, and will share booths with Philips Medical Systems and
Stentor to highlight how their products integrate with Philips'; and
Stentor's PACS solutions.

In the MedQuist booth, three products will be featured: SpeechQ for
Radiology(TM), which employs the world's most innovative speech recognition
technology; on- and off-site transcription services, which offer user-
friendly, technology-driven solutions; and CodeRunner(TM), which provides
customers with a computer-aided coding application.

http://www.mysan.de/international/article8177.html

5) MedScribe to set up centre in Chennai

US-based MedScribe Communications Inc., which is into medical transcription
business, would set up its own centre in Chennai for medical transcription
and associated software development.

The $5 million company would begin operations on December 1 with a 20-member
team, and expand it to around 100 by the end of first year. The number would
increase to 200 in two years, said R. Chandrasekaran, Chief Financial
Officer, MedScribe. He is also one of the promoters.

The company outsources work to four Indian firms (two in Chennai, and one ea
ch in Hyderabad and Bangalore), with bulk of the work going to two
Chennai-based firms. Around 300 employees are doing medical transcription
work for the company in India, he said. Having its own presence would
complement the work done by existing vendors, and the company would continue
to expand its business with the existing vendors, he said.

The cost for transcribing was $14 an hour in the US as against $175- $225 a
month in India. If it were to escalate by 40-50 per cent, it would not be an
advantage to outsource work from India, he said.

http://sify.com/finance/equity/fullstory.php?id=13618327

++++++++++++++++++++++++++++++++++++++
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Mediweb Infotech Pvt. Ltd. All cited articles are copyright of
their authors and/or respective publications. Please feel free to
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as long as it is left intact with all links unchanged and this
notice.

Thank you for your interest in MT India!

The MTIndia Team
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