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Jun 18, 2005

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Know MT? Work from home & earn well!

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Dear Friends,

Excerpts from an article by Mansi Aneja in the Economic Times:

<One of the earliest versions of outsourcing in India, MT vanished
within a short span of time after making little ripples for the
enthusiastic youngsters. You can call it the second coming of
medical transcription in India, and by what industry insiders say
this time round it's here to stay.

"During the dotcom boom time of the 1990s, MT was considered to be
a lucrative business. Training was easy. There were literally
thousands of training institutes across India. People paid as much
as Rs 50,000 for a four-month training," says Chris Salins,
president, Yes Medical Practice Services (YMPS).

"People took a simplistic view of medical transcription and thus
the quality was lost. Not only that, many companies jumped into it
without ensuring the basics. This is one of the main reasons for
the mediocre status of MT in India ," says Rajiv Shetye, vice
president, operations, Spryance India.>

<Has the Indian MT scenario changed now?

What we now see is a more stable version of medical transcription.
The shake out of 2003 eliminated many smaller players as they were
not able to live up to the quality standards. The healthcare BPO is
a $200bn business worldwide and medical transcription is alone
worth more than $12bn. India, right now only accounts for about
$110mn of the business though the opportunity in the next three
years is for it to grow to $5 bn-$6 bn. Globally the MT is growing
at 15 per cent annually.

India has the advantage of getting more medical transcription work
as the work force here is relatively young. "More and more US-based
companies are looking to outsource work here and the revenues are
likely to grow by about 40 per cent," Shetye adds.>

<What do you get:

"More than any other industry, this one needs real quality. No
matter how good the technology is, people are the most important
here," says KB Anand, COO, Acusis India. An average person with 2-3
years experience can earn anything between Rs 25,000 and Rs 28,000
per month. "An outstanding performer can earn up to Rs 45,000 per
month," says Anand.

Spryance on the other hand pays about Rs 6,000-Rs 12,000 a month to
an entry level person. An editor depending on his/her skills can
earn between Rs 10,000 and Rs 25,000 per month. After editor
Spryance has mentors who oversee the work of the MTs. A mentor can
get a monthly salary of about Rs 35,000-Rs 40,000. After that
micro-entrepreneurs who have their own teams can get about Rs
40,000-Rs 50,000 a month.

Salins says that it is an excellent career in today's times. One
can start earning with Rs 5,000 and then double the salary in the
first three years to grow to about Rs 35,000 within five years.>

<Why is this a great career?

Believe it or not, this is one arena where working from home is
actually followed as a business model. Spryance has over 650 people
working from home. At Acusis all the medical transcriptionist
across seven cities work from home. Only the editors and senior
editors work from offices.

"This is one BPO where you can earn well without disturbing your
biological clock," says Anand. The normal turn around time is 24
hours. So, one doesn't need to be awake according US timings to
take queries.>

So, here's your opportunity to grab the next big job generator in
the country."

To read the entire article:
http://economictimes.indiatimes.com/articleshow/1139955.cms

Ciao!

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

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Eight years into production, Worldtech's team of 400 MT's services
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several major cities planned over the next two years.

Worldtech, the leading transcription house of Andhra Pradesh, is
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Teamleaders, and home-based workers. All positions are at our
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Medical Transcriptionists. Minimum 2 years experience in medical
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Senior MT/Proofreader. Minimum 5 years experience in medical
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only after reaching on-site production parameters of quality and
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Contact: Venkat Nimmagadda, General Manager, HR, at Worldtech MGR
Estates, Saibaba Temple Road, Punjagutta, Hyderabad 500082. Tel #
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contactus@....

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NEWS AND VIEWS :
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1) CBay Named to the Healthcare Informatics 100 Honoring Leading IT
Companies in Healthcare

CBay Systems, Ltd., a leading provider of healthcare solutions,
announced that it has made Healthcare Informatics magazine's top
100. The annual listing ranks companies providing healthcare
products and services by IT revenue.

CBay's primary service offering is medical transcription and an
expansion into other health information services is under way. V.
Raman Kumar, CBay's Chairman and CEO, credits the company's growth
to the hard work and dedication of CBay's entire team of healthcare
professionals. He said, "Teamwork, in addition to the continued
loyalty of our long time customer base, enables CBay to deliver
consistent, high quality services to our over 500 global clients.
Our expansion into other healthcare BPO services will not only add
to our already record setting growth, it will also provide
additional service offerings that our clients desire."

CBay has enjoyed consistent industry recognition, most recently
being named one of the "Ten to Watch in 2005" by Forbes.com, and in
2004 by making the Deloitte Technology Fast 500 for North America
and the Fast 50 in Maryland, which annually rank technology
companies by percentage revenue growth over the past five years.

http://www.mysan.de/article130284.html

2) STPI keen to promote skilled personnel for software units

The Software Technology Park of India (STPI) is keen on developing
human resources for promoting software and IT industry, said STPI
Director R Rajalakshmi in Tiruchy on Saturday.

Launching the "on-campus medical transcription training programme"
at the Shrimati Indira Gandhi College (SIGC), she said the turnover
from medical transcription is poised to cross the Rs 100-crore mark
this fiscal, a growth of about 25 per cent from the previous
financial year.

Explaining the steps taken to strengthen the skills of youth, she
said the STPI had encouraged companies to form consortiums, which
would in turn be enable to identify the talent of graduates from
educational institutions across the State.

She said any student with soft skills could become a successful
transcriptionist. She lauded the Indira Gandhi College for having
taken a lead in bringing this programme to Tiruchy. The medical
transcription programme is an eye-opener for all students from
various discipline including microbiology, biochemistry, maths,
physics and computer science.

The students undergoing training would be given a stipend of Rs
3,000 during the on-the-job-training in Chennai. After successful
completion, the students would be given placements to any company
attached to EMITRAA, a consortium of medical transcription
companies in Chennai.

Out of 300 students, 180 were selected in the screening test
conducted by the EMITRAA. In the first batch, 60 students would
undergo the training, which would commence from Monday, she added.
EMITRAA directors Sethuraman and Jayaraman said the students,
particularly girls, had the ability to sustain undiluted interest,
which would be translated into strength.

http://www.newindpress.com/NewsItems.asp?
ID=IET20050619020446&Page=T&Title=Southern+News+-+Tamil+Nadu&Topic=0

3) NRI scripts BPO dream in Punjab

At NRI billionaire Nanak Kohli's initiative, at least 10 villages
in Punjab are trying to make girls net-savvy and fluent in English
to help them land BPO jobs.

Kohli, 73, known as the ''Rolls Royce Sikh of Washington'',
explains how he came to focus on the girl chid. ''I wanted to start
a project for the best of the best, but then the writer Khushwant
Singh advised me to concentrate on the poorest of the poor,'' he
says.

Kohli is looking to train 10,000 girls at 100 centres and hopes to
make the centres become self-reliant. ''Believe me, in one year's
time they will get not just word processing work, but telemarketing
and medical transcription as well,'' he says.

http://www.indianexpress.com/full_story.php?content_id=72706

4) ZyDoc Optimizes Olympus DS 4000 Professional Digital Recorder
for
e-Transcription Service

ZyDoc now features the Olympus DS 4000 Professional Digital
Recorder for its award-winning e-Transcription service. Doctors
improve productivity using the Olympus handheld recorder with
intuitive slide controls and automatically upload dictations in
seconds. ZyDoc software ensures HIPAA compliance and facilitates
faster document turnaround with e-signature, browser-accessible
secure Internet based records and automated download and printing
of transcribed documents.

http://www.prweb.com/releases/2005/6/prwebxml246153.php

5) CyMed, Inc., Honored as Top Emerging Technology Company in the
Nation's Strongest Tech Market

The Greater Richmond Technology Council recognized CyMed, Inc., at
its Tenth Annual Technology Stars Program as the top Emerging
Technology Company in central Virginia.

In business since November 1998, CyMed now documents over 10
million health care patient visits annually as electronic medical
records that are generated through a unique application of
technology, labor and process management. Utilizing experienced
medical transcriptionists and editors, voice recognition,
electronic signature, state of the art security, electronic
signature, and Six-Sigma management principles, CyMed has become
the third largest national service provider in an industry with
over 1,500 domestic and international competitors.

http://home.businesswire.com/portal/site/google/index.jsp?
ndmViewId=news_view&newsId=20050613005799&newsLang=en
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All original content of this newsletter is © Copyright 1998-2005
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
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Thank you for your interest in MT India!

The MTIndia Team
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