July 08, 2006
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Challenges for the Indian MT Industry

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Elico Ltd. is a Hyderabad based ISO 9001 certified healthcare BPO
undertaking medical transcription, medical coding, medical billing,
and related services for prestigious clients in the US. We are
looking for proofers/editors with at least 4 years of experience in
medical transcription. Besides excellent work culture, and
world-class infrastructure, we offer a joining bonus of Rs10,000.
E-mail your resume to hrites@... or call us on
040-23771258 or 9866005445 within 7 days and fix an appointment.

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Dear Friends,

Here is a summary of Suresh Nair's (CEO, Spheris India)
presentation at the NASSCOM meet:

*Very large growing market opportunity with a declining capacity in
the US

*India will definitely be a preferred destination outside of the US

*Rates will need to start going northwards to allow for better
entry salaries, infrastructure, growth etc

*Get quality certified-process and individuals to develop
confidence

*Get security certification

*Indian technology companies should start partnering with Indian MT
companies in designing intelligent solutions that can make the
Indian MT's more productive and deliver higher quality

*Indian companies should move training where it really belongs i.e.
in colleges

*This will allow an increase in almost a 10% margin for most
companies

*Ideally UGC should be sanctioning programs in medical
transcription as the drive for more jobs from the government opens
ups more vocational training

Ciao!

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) Medquist signs a long-term contract with Iridium

Hitech Entertainment Ltd said its subsidiary Geosoft Technologies
(TVM) Ltd has signed a long-term BPO contract with US-based
Medquist.

The agreement with Medquist would provide substantial strength to
the operational performance of Geosoft, Hitech informed the Bombay
Stock Exchange.

The contract at full capacity levels can generate upto Rs 22.5
crore in terms of annual revenues, it added.

http://economictimes.indiatimes.com/articleshowcnews/1693786.cms

2) CBaySystems Introduces CBayFlo VoiceDirect

CBaySystems announced the general availability of CBayFlo
VoiceDirect - its own automated digital dictation and voice capture
system.

With the introduction of CBayFlo VoiceDirect, hospitals who are
dependent on expensive, proprietary dictation systems from
Dictaphone, DVI, and Lanier can enjoy new freedom and flexibility.
CBayFlo VoiceDirect incorporates the same features and quality at a
significantly lower price. At the same time, it is built on an open
technology platform that allows it to interface with legacy
Dictaphone, DVI, Lanier and home-grown systems. This allows a
smooth migration path (with zero training) as well as easy
integration with other HIM systems.

http://biz.yahoo.com/prnews/060706/dcth010.html?.v=60

3) Cuts will have a major impact

UNION leaders have described a hospital trust's plans to cut 500
jobs and close as many as three wards as a "devastating blow." East
and North Hertfordshire NHS Trust, which is already heavily in
debt, has been faced with more pressure after primary care trusts,
also suffering from financial difficulties, are seeking to buy
fewer services from Lister Hospital and other hospitals cutting the
Trust's income.

The Trust will eliminate vacant posts, stop providing services
where PCTs do not meet the full costs and pursue existing projects
which will result in a reduction in staff - for example merging
medical record departments and medical transcription outsourcing.

http://www.thecomet.net/content/comet/news/story.aspx?
brand=CMTOnline&category=News&tBrand=herts24&tCategory=newscomnew&ite
mid=WEED29%20Jun%202006%2010:54:01:983

4) PRN Funding Awarded for its Commitment to the Medical
Transcription Industry

At the conclusion of the 17th Annual Medical Transcription Industry
Association's (MTIA) Conference, PRN Funding, LLC was honored for
its dedication to the medical transcription industry when it was
presented with the Circle of Commitment Award. The award was
created to recognize companies that have demonstrated ongoing,
sustained support of the medical transcription industry.

Founded by a former transcription service executive, PRN Funding
has a precise understanding of the unique challenges of the medical
transcription funding industry-more specifically the intricacies of
receiving payment from hospitals and medical clinics in a timely
manner. PRN Funding provides working capital to medical
transcription service owners (MTSOs) to fill the financial gap
between when they invoice for their services and when they receive
payment from their customers - a process known as
"factoring," which provides the cash needed to sustain and grow a
healthcare business.

http://www.prnewswire.com/cgi-bin/stories.pl?
ACCT=104&STORY=/www/story/06-15-2006/0004381363&EDATE=

5) MT Company develops E-learning portal for TOEFL courses

Pondicherry-based Medical Transcription Company - Azimuth software,
plans to launch its own e-learning portal for TOEFL courses
shortly. Azimuth's General Manager K Anand said that the e-learning
portal would be called Azimuth Academy, which would also venture
into teaching other prospective courses such as medical
transcription and the like.

http://www.ciol.com/content/search/showarticle1.asp?artid=85933

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Thank you for your interest in MT India!

The MTIndia Team
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