Home Transcription Jobs booming despite of recession

Despite global economic downtrend, the Medical Transcription (MT) industry is looking for a further growth buoyed by a report of the NASSCOM stating that recession has not hit the healthcare industry.

Reverse is the trend in medical transcription outsourcing in the US, which is witnessing agonising attrition in large scale in IT, financial, manufacturing and other sectors.

MT companies in India observe that the demand for medical transcriptionists is great. There is currently a shortage of qualified medical transcriptionists - and demographic trends suggest that the outlook will continue to be favorable for some time to come. Good medical transcriptionists typically have no problem in obtaining and maintaining employment.

“High-speed Internet access and faster, more reliable operating systems have made collaboration and information exchange more efficient than ever before. Technology advances such as these make it possible for us to offer home-based transcriptionists positions to our staff. This enables us to create a pleasant, family-friendly work environment that promotes both productivity and employee satisfaction,” says Anupam Gupta, HR Executive, MTHomeMD.com.

What is medical transcription?

Medical transcription is the process where one accurately and swiftly transcribes medical records dictated by doctors and others, including history and physical reports, clinic notes, office notes, operative reports, consultation notes, discharge summaries, letters, psychiatric evaluations, laboratory reports, x-ray reports and pathology reports.

It involves receiving dictation by tape, digital system or voice file, and using earphones, a foot pedal for start-stop control and a word processing program. It sometimes includes the use of a printer and sometimes a modem. A variety of word-processing systems are used. It requires good listening and language skills, computer skills and knowledge of medical terms.

Advantage of being in India

MEDICAL TRANSCRIPTION AS A PROFESSION

In simple terms, MT is the conversion of doctors’ digitized audio files into text files. The doctor, while examining patients or performing surgery, dictates the details of the procedures into a Dictaphone which is attached to the computers. The data is collected and transferred to the respective Transcription Company in the form of voice files. The Transcription Company downloads these files and transcribes them using sophisticated software. Upon completion, these files are transferred back to the doctors via the Internet. 

Advantage of being in INDIA

1) A virtual 12-hour time zone difference with USA makes it possible for
us to meet the turn-around-time for MT work. Since we work when it
is night in USA, we are able to deliver work faster than Medical
Transcription companies based in USA
2) A huge pool of English speaking and skilled Computer literate
manpower.
3) Cost of employing qualified personnel is much lower than the USA.

Job Profile of Medical Transcriptionist

The primary task of the medical transcriptionist is to transcribe, format and proofread medical records. Medical records for transcription are primarily sourced from the USA. They are outsourced for transcription from a variety of healthcare settings including doctor's offices, private/public hospitals, clinics, laboratories, legal offices, veterinary and medical clinics, research centres. Dictations are done not only by doctors but also by surgeons, nurses pharmacists, therapists, nurses and other paramedical staff. Medical transcriptionists receive the doctor's dictation by tape, digital systems or as a voice data file. Digitised data through the Internet is the most common means of receiving medical data from the USA.

The local transcription company receives the data and they uncompress it. At this point, the medical transcriptionist takes over. Using a suitable word processing programme/application the audio file is transcribed and edited. There are two stages in MT. The first is the actual process of transcription by a medical transcriptionist. This is followed by proofreading and editing. The MT industry employs a number of proofreaders, junior and senior editors as well. Proofreaders and editors perform the following functions:

* Visual proofreading
* Electronic spellcheck
* Grammar check
* Checking for medical inconsistencies and inaccuracies

The medical record - now in text form - is then routed back to the concerned doctor or hospital.

Is Medical transcription on revival ?

Industry players unanimously agree. "The potential is huge," says Vishal Jain, CEO of Delhi-based Rekha Transcription India. All the key medical transcription companies, he notes, have been logging 30-50% growth. "We are all scrambling for capacity and this is because transcription companies in the United States are scrambling for capacity.

Indeed, that's what is driving this growth. While the $12 billion medical transcription industry there (US), is growing at 20%, the growth of employees is only 10%. The industry, says Valuenotes, will grow to $16.8 billion in 2010.

Around 30% of the work is outsourced in the United States, of which around 10-15% comes to India, which offers a huge cost advantage - work here is 30% cheaper.

Medical transcription was among the first IT-enabled services to be outsourced to India. It is the process whereby one transcribes medical records dictated by doctors and others, including history and physical reports. It is in demand in the US as the entire healthcare industry there is based on insurance and detailed medical records are needed for processing these claims.

After a boom in the mid-1990s, when a lot of mom-and-pop shops erupted on the scene, the industry went bust around 2001, following a huge decline in the quality of work.

Medical Transcription Certification - by MU

For students who have just completed class XII and want to take up a career that directly prepares them for work, University of Mumbai's Garware Institute of Career Education and Development is the place to go to. For under-graduate diploma courses, students seeking admissions will have to appear for an entrance exam followed by an interview. 

Medical Transcription
Admission on the basis of a written test and interview
Duration: 6 months (Part time)
Fee Structure: Rs 15,000/-

Home Based Medical Transcription : “A Second Income”

In general a MT or a QA has to work 8 hrs to 10 hrs in a day. Either you work in general shift or in some special shift timing, each one of you have close to 2-4 hrs spare in daily routine to do transcription at home. Thus there is chance to make second income.

"Second Income" is the one that we always dreamt of and always wanted to make or earn quickly. That is the basic nature of the human being to make best out of the current resources.

Home transcription is the best option as a second income for MTs/QAs in medical transcription industry. In general a MT or a QA has to work 8 hrs to 10 hrs in a day. Either you work in general shift or in some special shift timing, each one of you have close to 2-4 hrs spare in daily routine to do transcription at home. Thus there is chance to make second income.

Some of the medical transcriptionists have chosen home transcription as their full time job. Which is bit risky !!! As they not sure that how much they gona make in a month. It could be more or less. A fixed income always help to plan out expenses. If you are working for a company then its shields you from ups and down in a business life cycle. Hence the best option is a home transcription as a second income.