 |
 |
 |
 |
 |
 |
|
Medical Transcription There are 20 medical transcription (MT) companies currently operating in the Philippines, 11 of which are MT schools and training facilities, delivering quality outputs to the global MT outsourcing industry. The U.S. accounts for 47% of the $25-billion market, with approximately 6,700 hospitals whose medical records have to be converted to electronic format in order to comply with the requirements for federal certification. The local medical transcription industry is projected to produce $7 million this year, as foreign MT outsourcing companies continue to seek Filipino medical transcriptionists for their familiarity with U.S. medical standards, terminology and practices. Accessibility to cost-effective telecommunications and other business infrastructure have also boosted the industry. The 12-hour time difference between the U.S. and the Philippines facilitate the speedy delivery of output to U.S. hospitals. The rising global demand for competent yet cost-effective workers has resulted in the dearth of medical transcriptionists. To address this, academic institutions specializing on MT have been established while existing schools have begun offering MT courses. To further promote the rapidly growing sector, local industry players have formed the Medical Transcription Industry Association of the Philippines, Inc., and are currently pursuing an individual certification system to ensure the MT firms' competencies. Some services offered by local MT companies are:
|
|
|
|