An Overview Of The Medical Transcription Business In India

Summary

Medical transcription is estimated to be a $6 billion industry in the USA, employing around 270,000-350,000 transcriptionists, and demand for medical transcription services is growing at 10-20% per year. India's enormous pool of (poorly paid) English speakers make it a logical outsourcing base. As per a NASSCOM report, the industry will be worth Rs. 40 billion by 2008, and could employ as many as 50,000 people.

In the last few years, there has been tremendous growth in the industry, as many entrepreneurs have jumped in, lured by the large potential market and apparent lack of entry barriers. However, since 2000, there has been a sharp decline and several of the smaller start-ups have vanished without a trace.

Most of the early entrants lacked the requisite expertise and industry knowledge, as well as infrastructure. However, the survivors are growing stronger and are even looking to exploit related downstream and upstream opportunities.

Table of Contents

1. Introduction

2. The Process

3. Why India?

Table 1: Comparison of wages of MT professionals - India vs. US

4. The Indian Medical Transcription Industry

5. Key Success Factors

Training / Availability of trained people

Quality/Process

Size/Scale

Infrastructure

Marketing

Other issues

6. Conclusion

7. Related opportunities

Downstream

Upstream

An Overview of the Medical Transcription Business in India (June 2002, Pages 12)

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