medical billing transcription supplier information

Wall Street News Alert's "stocks to watch" this morning are: WaveScribe International Corp. (OTC: WSBL), Connetics Corporation (NASDAQ: CNCT), Elan Corporation (NYSE: ELN) and Symantec Corporation (NASDAQ: SYMC).

WaveScribe International Corp. (OTC: WSBL) may appear on the radar screens of aggressive investors and traders this morning! Yesterday after the markets closed, the company issued a press release emphasizing the importance and size of the medical transcription market.

Recently, speech recognition solution provider ScanSoft acquired the transcription platform provider MedRemote in a deal valued at more than $12 million in stock and cash.

Details of the sheer market size in which WaveScribe operates could excite investors! The healthcare industry spends approximately $15 billion annually on transcription production. According to the company's press release, WaveScribe understands the magnitude of this and seeks to capture 1% of this growing market. WaveScribe President and CEO Cris Bahar stated, "We understand why ScanSoft would make this move. It's a natural course for them to pursue and validates what we have said for quite some time. WaveScribe continues to stress the importance of the medical transcription industry in our on-demand world. Hence, WaveScribe's on-demand word processing platform and services encompasses the medical transcription industry in addition to other fields that require mass document processing such as general business, legal and lectures on a global basis rather than only U.S.-based."

Investors continue to watch the progress of WaveScribe! WaveScribe offers the first web-based transcription software that was designed, developed, and deployed by transcriptionists. Documents created through WaveScribe have a 128-bit security encryption, HIPAA and Privacy Law compliance. Access to a transcribed document for editing, reprints, updates, 24 hours a day in a simplified and cost-effective manner to handle the task of document control is now available. The WaveScribe platform requires no software to purchase, and installation is not required. The typist/transcriptionist utilizing the platform can create documents on the go, including loading pre-existing documents. Traditional methods of dictation such as from tape, digital recorder, dial-in, pushed or PC-generated dictation can be maintained, creating a significant dollar savings.

# posted by Medical Information : 4:40 AM