Outsourcing industry has changed economics of many countries. This industry is based on a simple fact that, by outsourcing, companies can drastically reduce their costs and in turn earn more profits.
Today we see that there are companies that offer outsourcing in the fields of Voice based services or call centers, data entry services, back office, secretary services, Medical transcription outsourcing services, medical billing and coding services etc.
Outsourcing of services a boon to companies:
Most of the headache of handling backend operations is managed by outsourcing industry. Companies are actually busy with their front end operations. It makes companies very difficult to manage backend as well. Thus the outsourcing industry is a boon to such companies. Now imagine a situation where you are sunning a hospital. You have a lot of administrative functions to handle. You need to ensure that the staffing of nurses and doctors is proper. Billing etc also have to be taken care off. Apart from this you also need to take care of the transcription of doctors. Ensure that the files are properly places etc. Wow a huge mess! Now in this situation if someone approaches you to share a burden of yours at a very minimal cost, what will you do? I am sure that you would like to outsource some of the services across. Hence outsourcing industry is a boon to many companies.
What is Medical Transcription?
In many advanced countries like USA, UK etc, medicine is given at most importance. The process is a bit complicated yet very effective. Let us discuss medical transcription in USA. In the US, every person has a unique identification number called the SSN or Social Security Number. Now, medical records of every person are mostly online and are saved or linked to this SSN. Now when some person, approaches a doctor or a hospital, doctors cross examine the patient, advice treatment for them and carry on their medical proceedings. All this is not types directly; it is recorded instead. These recordings are then sent across in the form of wave files to transcription companies. These files are then converted from wave files to word documents and are sent back to the hospitals where they are again restored and linked to patient’s medical records. The key cornerstones of this industry are time to complete the job work and accuracy of work.
Countries like India have an edge over others for MT industry:
Indian geographical location is one of the biggest of advantages. Technically we are about 12 hours behind America. This gives us added advantage. Doctors finish their dictations and upload the files by evening. Evening in US, is dawn in India, we can complete the work during day here and again upload the completed files by evening in India. Evening in India is morning in the US. Hence this cycle is the biggest advantage for India. Apart from this the quality of output expected is far better that any other country. Thus most of the doctors are turning to Indian companies for their Medical transcription outsourcing needs.
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