Apr 30, 2006
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Medical Transcription Outsourcing - Opportunities and Challenges - A
NASSCOM - AAMT initiative

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Dear Friends,


NASSCOM India ITES-BPO Strategy Summit 2006, will hold a workshop on
Medical Transcription Outsourcing - Opportunities and Challenges -
in association with AAMT. Peter Preziosi, PhD, CAE. Executive
Director, AAMT will be attending.

14:00 - 15:30 hrs - 8 June, 2006
The Leela Palace, 23, Airport Road
Bangalore

http://www.nasscom.org/eventdetails.asp?id=486&head_id=1101

As is evident, the event is directed towards CEOs/COOs, rather than
the practitioner MT.

Would practitioner MTs be interested in attending a meet addressed
by Peter Preziosi, Executive Director, AAMT, directed towards
quality, standards and credentialing (certification - RMT, CMT,
Fellowship) at Bangalore? Other issues such as the future of the
profession, the impact of privacy/security legislation on
outsourcing, speech recognition, electronic health records etc could
also be covered. You might consider an Indian chapter of the AAMT...

At this point, I am running a preliminary survey to see how many of
you would be interested in attending such a meet at Bangalore on
June 8th, between 6-8 pm. Registration fees will be Rs. 200. A
downward revision of the same might be possible if we get a good
response, relative to the numbers I based my calculations on.

Please send an email to survey@... , if you are interested
in participating. Please enclose the following details about
yourself:
Name:
Company Name:
City:
Suggestions: (Keep it brief, please)

The survey closes on Monday, May 8th and a definitive announcement
and registration will be made thereafter.

Cheers!

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

"It takes years to become an overnight success! Inch by inch, it's
a cinch."

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NEWS AND VIEWS :
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1) Medical Transcription: an attractive career choice

Medical Transcription is one of the fastest growing fields in
healthcare. It is growing at a very rapid rate of 10 per cent to 15
per cent due to the growing aging population. The MT industry is
estimated to be more than $12 billion business in the US. There is a
tremendous demand for medical transcriptionists. Opportunities for
employment are available throughout the year.

There is a growing volume of work in the US MT industry, but there
is a growing shortage of Medical Transcriptionists there. These two
factors necessitate the US MT companies to outsource work to
countries like India, Philippines, etc. India is the preferred
destination for a number of reasons. Firstly, the MT industry has
reached a matured stage here. There is availability of a sizeable
number of English-speaking graduates. The 12-hour time zone
difference between India and USA is an advantage. There is cost
saving when work is done here. These factors have placed India as
the automatic choice.

In India, the MT industry is an IT-enabled service offering large-
scale employment with a huge foreign exchange earning potential. The
MT industry in India is more than 10 years old and is a pioneer in
the BPO segment, as services were started in 1994-1995. There are
over 500 MT companies in India, located in metros and most of the
major cities/towns like Bangalore, Chennai, Coimbatore, Hyderabad,
Delhi, etc. Medical transcription in India has gained recognition in
the US like the IT services. NASSCOM, a national association
spearheading the Indian software and services has been showcasing
India internationally, with the slogan "Move work to India". It is
now well poised to gain a larger market share in the years to come.
As a result of the increasing demand for transcription services in
India, there is a compelling need for medical transcriptionists than
never before, making medical transcription an attractive career
choice.

http://www.deccanherald.com/deccanherald/apr192006/avenues15491320064
18.asp

2) MedQuist Launches Solution for Automated Emergency Room Coding

DocQment Code ED Plus provides today's mobile ED caregiver with a
highly functional, PDA-based dictation tool that allows physicians
or other caregivers to dictate reports at the point of care
delivery. This solution can also access the hospital's registration
system to obtain necessary patient demographic data for reporting
and coding purposes. Customers can also add state-of-the-art
transcription software that features integrated speech recognition
capabilities and outsourcing editing services. To efficiently
complete the charting process, DocQment Code ED Plus includes an
intuitive Web-based electronic signature component. With this
solution, reports are distributed directly to the appropriate
hospital systems and/or the EMR. Remote coding technology is also
available, along with Natural Language Processing (NLP)
capabilities, that provide suggested codes for the coders to
consider, improving both their quality and productivity.

http://biz.yahoo.com/prnews/060426/phw030.html?.v=52

3) Manor Care Q1 Earnings Fall On Unusual Expenses in MT business

Provider of health care services Manor Care Inc. said its first
quarter earnings fell from last year due to the impact of about
$0.21 per share for the unusual expenses. The Toledo, Ohio-based
company earned $25 million or $0.30 per diluted share for the
quarter, in comparison with $40 million or $0.46 per diluted share
registered in the corresponding quarter of last year.

Manor Care's quarterly results included a non-cash asset impairment
charge of $7 million after tax or about $0.09 per share, related to
its investment in its medical transcription business, Heartland
Information Services.

http://www.tradingmarkets.com/tm.site/news/BREAKING%20NEWS/235051/

4) From a group of friends to market leader

In 1982, a group of chartered accountants got together to form Karvy
Consultants with a capital base of Rs 1,50,000. C Parthasarathy, M
Yugandhar and MS Ramakrishna, the concerned CAs, registered their
entity as a company on July 23, 1983, which initially offered
auditing and taxation services.

Cut to '06, the Karvy Group has seven group companies, including
Karvy Stock Broking and Karvy Computershare.

The company has also entered into the IT enabled services (ITeS)
space in '00 and operates CKar Systems, a 500-seater, multi-shift
medical transcription centre at Hyderabad in a JV with C Bay systems
in the US. The facility employs 800 medical transcriptionists and
transcribes 1,00,000 lines each month. It is also into commodity
trading through group company Karvy Comtrade, which, market sources
say, is one of the fastest growing divisions. In fact, they are said
to be in the top slot in terms of MCX turnover.

http://economictimes.indiatimes.com/articleshow/1509719.cms

5) Rising in career top charts is Medical transcription

Unfortunately due to high salaries many of our talented doctors,
nurses and paramedical staff are working in the MT industry and we
are seeing a shortage of such staff in the hospitals. There are
hardly any junior doctors available today - either they are studying
for PG entrance exam or working in some such industry.

http://www.medindia.net/news/view_news_main.asp?x=9637

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Thank you for your interest in MT India!

The MTIndia Team
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