What is Medical Transcription

-The process of producing reports from dictation by medical providers of the 
 details of  patient office visits, clinical, radiographic, and operative procedures.
-Virtually every encounter a patient has in the medical arena is documented.

Recording for medical procedures is required by U.S. laws

• The old practice was to have the medical secretary do the transcribing for the doctor. As the amount of work increased, doctors found it necessary to hire a person (aside from the secretary) specifically to do the transcription.
• With the advent of the internet, and spiralling costs of healthcare in the U.S., doctors are now encouraged to look outside the U.S. for transcription service providers where:

                >Costs are lower than the U.S.
                >Command of the english language is prevalent

Source: Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI)

• Labor costs are lower in the Philippines    
  -US$13-17 per hour in the U.S. vs. US$0.80 per hour in the Philippines
• Filipinos have high affinity for American English nuances
• The Philippines has a huge pool of highly skilled, quality medical and technology professionals

• -Infant industry – first company started in the Philippines in 1997
• -Currently, there are thirty (30) companies operating in the country
  
>Most have 10-150 seats (or work stations) >Only 5 companies have 250-600 seats
• Although the Philippines is an ideal provider of outsourced transcription service, India presently controls 50% of the outsourced business
• The Philippines currently accounts for 3% of the outsourced business.

Source: Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI)