medical billing transcription supplier information

One of the largest growing sectors of the medical field is that of medical transcriptionists. Hospitals, clinics and doctors offices require the doctors’ words to be put into writing for patients’ files and other documentation purposes. In addition, a most hospitals require it to be in digital format. Hence, the need has arisen for people to translate doctors’ oral reports into digital documents.

Although employed secretaries often do this job, it is quickly becoming big as an area for outsourcing. When outsourcing, the transcription can actually be done more quickly than it can in-house. This is because the outsourcing firm or individual devotes full time to the assignment, while a secretary is constantly interrupted with phone calls and other duties.

In a time of growing interest in home-based businesses, these two needs have merged. Many people make a good living from their home computer typing up medical transcripts. It’s a job that pays well. However, this isn’t an easy job. Specialized training and experience are required. If you have it, you’re in demand. Recent years have shown an increase in demand for medical transcriptionists, but a smaller supply. Therefore, it’s a ripe field for the entrepreneur.

As a outsourcing medical transcriptionist, you would be providing services to medical facilities of all types who outsource this activity. You don’t even have to live in close proximity, as long as you have a reliable computer and Internet connection. They will send you an audio file and you type it up, making sure each word is clear and spelled correctly. It is crucial that it be accurate, as this will serve as the doctor’s documentation.

Many American and foreign companies alike are getting on board and offering medical transcription services. In the U.S., it’s usually existing medical companies that offer these services to other medical facilities. Asian companies are the target of many other American health care institutions for outsourcing their transcription needs.

As an industry, it is growing particularly quickly in India and the Philippines, where labor costs are significantly cheaper. Some estimate it is the 4th largest outsourcing industry in India. It’s gaining ground in the Philippines, where it is one of the government’s top 10 priority growth sectors. It is particularly suited to this field because of the Filipino high literacy rate, proficiency in English and medical training. The population of both countries has always been adept at information technology.

Research shows that the U.S. spent $2.3 billion in 2004 for medical transcription outsourcing services. That number is expected to grow to $4.2 billion in 2008. Worldwide, the U.S. Department of Labor has projected the demand for medical transcriptionists to reach $20 billion.

The demand is there, at least for now. If you’ve always dreamed of your own business and are willing to be trained, go to the Internet and do a search on “medical transcription training”. Research several different courses and choose which one suits you and your present circumstances. You’ll be your own boss making a decent income all from home in no time!