Asian medical transcription industry to rise in 2010?

Medical transcription provides patients, physicians and government with accurate information for decision making. Healthcare analysts think that MT industry in Asian countries like China, India and Philippines will rise significantly in 2010. The technological advancements in healthcare sector has created the need for documentation of patient information in digital form in order to make hospitals paperless. MT involves conversion of voice-recorded reports as dictated by physicians and/or other healthcare professionals, into text format. According to research reports, the Indian medical transcription industry is expected to reach $647m by the end of 2010. Better English language skills, cheap labor, cost advantage and quality work culture have made most of the global MT vendors to look for Asia, especially India, as prospective market for MT. Almost 70 percent of the major MT vendors of US have already outsourced their work to India. Linda Yaniszewski, chair of the the Medi