Medical transcription industry


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The presetation contains informatin about the Global Medical Transcription Industry and the Strategy followed.

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Medical transcription industry

  1. 1. Medical Transcription Industry Prepared by: Rohit Dobaria Maulik Shah Viral Jani Jigar Modi Arvind Senta Hemanshu Vasava
  2. 2. Medical Transcription <ul><li>It is an allied health profession. </li></ul><ul><li>Deals in the process of transcription, or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals, into text form. </li></ul><ul><li>Trained professional is known as Medical Transcriptionist. </li></ul>
  3. 3. Overview <ul><li>Confidential patient information is converted to written text document </li></ul><ul><li>It is printed and placed in patient’s record </li></ul><ul><li>Can be accessed by the physician for future review </li></ul><ul><li>Medical Transcription can be performed by MTs who are employees of the hospital or Outsourced. </li></ul>
  4. 4. The medical transcription process
  5. 6. Quality Assurance Process <ul><li>Accuracy rate for experienced transcriptionists is 98.5% </li></ul><ul><li>No concessions to this stipulation </li></ul><ul><li>Compensation packages and incentive schemes are directly linked to quality levels </li></ul>
  6. 7. <ul><li>Transcription – MTs with 1-4 years of actual work experience. </li></ul><ul><li>QA Level I –MTs with 5 years of actual work experience with various accounts and specialties. </li></ul><ul><li>QA Level II – MTs with 7 years of actual work experience with various accounts and specialties. </li></ul>
  7. 8. Medical Transcriptionist <ul><li>Medical understanding </li></ul><ul><li>practical knowledge of medical language, anatomy, physiology, disease processes, pharmacology, laboratory medicine, and the internal organization of medical reports </li></ul><ul><li>Above-average knowledge of English punctuation and grammar </li></ul>
  8. 9. <ul><li>study medical language, including Greek and Latin suffixes, prefixes, and roots </li></ul><ul><li>Versatility in use of transcription equipment and computers </li></ul><ul><li>Advanced proofreading and editing skills </li></ul>
  9. 10. Medical Transcription Industry <ul><li>One of the fastest growing fields in healthcare industry </li></ul><ul><li>High demand in Western countries especially in US </li></ul><ul><li>one of the fast growing IT-enabled services in India </li></ul>
  10. 11. <ul><li>India is one of the preferred location for Medical Transcription outsourcing </li></ul><ul><li>Healthcare industry not affected by the global recession </li></ul><ul><li>Industry is worth Rs. 40 bn at present </li></ul>
  11. 12. <ul><li>U.S. MT Industry - $16.8bn </li></ul><ul><li>Total work off-shored – $860 mn </li></ul><ul><li>India has captured - $ 647 mn </li></ul>
  12. 13. Strategy
  13. 14. <ul><li>We will transcribe all types of medical reports </li></ul><ul><li>History & Physical Reports </li></ul><ul><li>Consultation Reports </li></ul><ul><li>Operative Reports </li></ul><ul><li>Progress Reports </li></ul><ul><li>Emergency Room Notes </li></ul><ul><li>Clinic Notes </li></ul><ul><li>Referral Notes </li></ul><ul><li>Medical Imaging Reports </li></ul>
  14. 15. <ul><li>TARGET CUSTOMER </li></ul><ul><li>We will offer quality Medical Transcription Services to Hospitals, Surgical Centers, Physicians, General Practioners, subcontracts from MT companies and Independent Physicians across the United States, United Kingdom, Canada, Australia, etc. </li></ul><ul><li>  </li></ul>
  15. 16. <ul><li>CORE STRATEGY </li></ul><ul><li>Employ a highly- experienced team of transcriptionists, familiar with various specialties, speech patterns, accents and dialects. </li></ul><ul><li>Regular assessments, reviews, extensive skill testing and ongoing education of our transcriptionists </li></ul>
  16. 17. <ul><li>We will provide quality transcription service at cost effective rates. </li></ul><ul><li>We will offer a 3-day no-obligation trial of our transcription services and three sample reports. </li></ul><ul><li>We will ensure that our employees are well-trained. </li></ul>
  17. 18. <ul><li>Hired employees will have to participate in a compulsory, intensive training program. </li></ul><ul><li>Continuous revamping of training materials  </li></ul><ul><li>The personnel hired for the job will be students from nursing and related medical fields. </li></ul>
  18. 19. 7Ps
  19. 20. Product <ul><li>Convenience & Usefulness of the report information at the tip of finger. </li></ul><ul><li>Quality work for all the report. </li></ul>
  20. 21. Place <ul><li>Internet. </li></ul><ul><li>The transcription would be viewed by the doctor on the server of the hospital. </li></ul><ul><li>Website of the doctor if Practitioner. </li></ul>
  21. 22. Price <ul><li>Penetration Price. </li></ul><ul><li>As we will be hiring the medical and nursing student the salary cost will be low so we can provide low price. </li></ul>
  22. 23. Promotion <ul><li>3 days (No Obligation) trail. </li></ul><ul><li>Register on online portal. </li></ul>
  23. 24. People <ul><li>The employees are well trained. </li></ul><ul><li>High level of QA. </li></ul><ul><li>Good knowledge of medical terms. </li></ul><ul><li>Good knowledge of English, different accents, etc. </li></ul>
  24. 25. Process <ul><li>Ready report within 24 hours. </li></ul><ul><li>Billing. </li></ul><ul><li>Insurance. </li></ul><ul><li>Further reference. </li></ul>
  25. 26. Physical Environment <ul><li>Comfortable as every report will be included for each customer. </li></ul><ul><li>Customized as per physician’s requirement. </li></ul>
  26. 27. <ul><li>Thank You </li></ul>