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With the increasing industry of call center in the country, medical transcription was touted as the next bright spot for the country.Five years ago, there are already more than 100 medical transcription companies in the country. And as the end of 2007, the work force of the sectors increases as the data gathered from the industry organization Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI) showed. But fast forward to recent years, the landscape of the industry has changed considerably. At present, there are only 50 medical transcription companies now compared to five years ago when there was double that number. Only the legitimate players were able to carry on the business forces that tested the industry. According to Myla Rose M. Reyes, president of MTIAPI (Medical Transcription Industry Association of the Philippines, Inc.), the result was due factors and issues, especially those in the areas of capacity building, quality of output, market competition and economic conditions. And with this, the country remains a "distant second" to India in terms of the volume of medical transcription works being redirected to the country. However, despite of the said issue, the country continue to have its standing for having an improved quality medical transcription, the thinning price points and margins are limiting the local companies’ ability to offer attractive career options and compensation packages for medical transcriptionists. So with the polishing of minor skills in this industry, it is expected that the country could be able to meet the demands of the global market. [via bworldonline.com] |
