Medical Transcription in India and the recession in the United States

The Indian rupee has increased in value against the dollar over the past five years. The dollar, the value of nearly 48 Indian rupees was five years ago, is now less than 40 years. The question is whether this appreciation of the rupee has made it unattractive for outsourcing companies want to reduce costs.

One of the sector in outsourcing in India by the United States to reduce the costs of medical transcription. The saga of outsourcing has been driven by anotherFactors

• high labor costs in the United States - the average annual salary for a medical transcriptionist is approximately U.S. $ 30,000 (www.bls. Gov), while the Indian medical transcriptionist is about one fourth of that amount.

• The welcoming nature of the profession - the average American would have difficulty managing a household with a salary medical transcriptionist.

• An aging workforce - the average American medical transcriptionist is 50 years and overwhile the average Indian medical transcriptionist is about 25 years.

• The time factor of response - medical transcriptionists who work in Indian companies, all day in three shifts, and there is a shortage of skilled labor. A doctor can claim to dictate his report within a few hours after the application below.

• Companies Government of India to start a medical transcription services and gave them tax exemptions.

• United States --Government efforts to cut health care costs.

• India has a skilled workforce, with the largest population of English language in the world.

Fourteen years ago, the recording was from the United States. British population in India is more than the total population in the United Kingdom and the United States. English has a special status in India - in parliament, courts, broadcasters, media and schools.

What is the situation today? The dollar is low and the rupee isRising. Medical transcription outsourcing in India is still a viable alternative to low cost?

Industry experts say the cost is not the only motivation for outsourcing, and even if one of the most important factors. A large number of young people willing and energetic potential medical transcriptionists in shifts around the clock in the offshore investment by a U.S. company could make things easier for training for a particular customer. The regulatory environment of an offshore centeralso contribute to achieving benchmarks of high quality and response times.

The outsourcing trend continues unabated. While some people that 20% of all medical transcription business is entrusted to warn others, the figure as high as 50%. Some companies in the United States, also claim the job done in secret and have onshore outsourcing their work to the public without it.

Jargon such as narrowing of the exchange rates can be confusing, but in the end, the fall of the dollarCombined with the increase of the rupee may mean the wage bill and lower profits of companies in India are outsourcing jobs. While the appreciation of the rupee that affect business in India, companies can be more competitive, because India is a very strong medical transcription has developed over the last ten years. In this scenario, Indian companies have the transcription for hospitals British and Australians.

For the largest players inmedical transcription industry is not, the exchange rate does not matter. They found their pool of talent and are encouraged. These companies encourage their brightest CMT on transcriptionists medical centers are available at Thomson Prometric testing centers to pay their taxes. New initiatives in research and development will be continuously carried out in such companies. These are the players even larger for the discovery that the Indian work ethic farbetter than the American.

The work situation in the United States is also a cause for concern. While the workload of U.S. medical transcription is increasing every year, is also the work back each year, applications which are for the deficit. In 1980, medical transcription an attractive offer and the potential employer has received many applications, but today the situation is different, because many Americans believe that the medical transcriptionis not an attractive proposition. That worries many companies that have outsourced their work so far.

In recognition of the national shortage of medical transcriptionists, said the Ministry of Labor as a medical transcription professional occupations as a prelude to the creation of a national training begins. Medical Transcription Industry Association and the Association for Healthcare Documentation Integrity apprenticeability provision for claimsQualified graduates selected medical transcription training programs, and it was learned that the U.S. Department of) Labor (DOL this application (www.mtia.com) approved.

Although it is hoped that many are involved in these programs, the shortage of American talent to a Catch-22 situation for most businesses that do not prefer, medical transcription outsourcing in India or other countries.

Most large companies that offer medical transcription employees also use abroad of United StatesTranscription, because a number of health professionals still prefer to write with U.S. forces. Dies kann zu einem Missverständnis, dass amerikanische medizinische Schreibkräfte sind besser als die indischen sind, aber die meisten Anbieter etablierten in Indien haben nun die medizinische indische Schreibkräfte sind so gut wie bewiesen, wenn nicht besser als ihre amerikanischen Kollegen, vor allem beim Umgang mit Diktatoren are not native speakers of English.

Larger suppliers transcription doOutsourcing the work history, the rise of the rupee notwithstanding. For example, large companies have shown it can stand up to and still managed a profit, while maintaining the highest standards of quality. No customer outsourcing in India to save a few bucks, if the quality had to be wrong.

As customers faster response times, high quality and reducing the burden of waiting, the scenario of the future is probably a mixture of onshore and offshore medical transcription,especially with the scarcity of labor in the United States.

Last but not least, the HIPAA standards would be better served by outsourcing medical transcription. A medical transcriptionist in a foreign country who is not a patient or what his condition is curious. The patient would be just another faceless person to do the work that would be just another file to be transcribed. Confidentiality of medical records would be automatically backed up. Someone calledVenkatanarasimhalakshmiraju, for example, that transmits a medical report in Hyderabad, would not be bothered or care of a pregnant Jane Doe or John Doe prostate.

A stranger in a corner of the world, recording their records as a matter of routine would be best to protect your privacy as curious as anyone in the neighborhood, because you appear sick and do not seem to work.