• June 24, 2019

Global Medical Transcription Services Market Outlook to 2024: Focus on Consultation Reports, History & Physical Reports, Operative Reports, and Other Reports - ResearchAndMarkets.com - Odessa American: Business

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Global Medical Transcription Services Market Outlook to 2024: Focus on Consultation Reports, History & Physical Reports, Operative Reports, and Other Reports - ResearchAndMarkets.com

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Posted: Wednesday, June 12, 2019 5:55 am | Updated: 6:15 am, Wed Jun 12, 2019.

DUBLIN--(BUSINESS WIRE)--Jun 12, 2019--

The "Medical Transcription Services: Global Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.

This report provides separate comprehensive analytics for the US, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets.

The report analyzes the worldwide markets for Medical Transcription Services in US$ Million. The Global market is analyzed by the following Service Segments: Consultation Reports, History and Physical Report, Operative Report, and Other Reports. The US market is further analyzed by the following Mode: In-House Services, and Outsourced Services.

The report profiles 103 companies including many key and niche players such as:

  • Acusis India (India)
  • Audio Dicta Transcription Services (USA)
  • Care Technologies India Private Ltd. (India)
  • eTransMed, LLC (USA)
  • iMedX Inc. (USA)
  • M*Modal IP LLC (USA)
  • Medical Transcription Services (USA)
  • Nuance Communications, Inc. (USA)
  • TopTrans Company (Philippines)
  • Total Transcription Solutions, Inc. (Philippines)
  • TransDyne (India)
  • TransTech Medical Solutions (USA)
  • Vennar Soft Inc. (USA)

Key Topics Covered

1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

2. INDUSTRY OVERVIEW

At A Glance

Preface

Transcription Services - Critical Component in Government and Industrial Sectors

Medical Transcription Services - Benchmark vs. Need

MT Services and its Benefits to Healthcare Professionals

Making Recall of Patient Information Easy

Medical Transcripts in Digital Format

Saving Healthcare Professionals' Time

Medical Transcription - Marching Ahead amid Technologically Advanced and Automated Environment

Embracing Innovative and Latest Technologies

Current and Future Analysis

US - The Largest Market

Globalization and Medical Transcription

Emergence of New Supply Markets in Eastern Europe and South America

MT Industry Remains Unscathed from Economic Recession

Hospitals Favor MT Services as Market Conditions Toughen

Favorable Economic Trends Positively Influence MT Services Market

3. MARKET TRENDS, ISSUES AND DRIVERS

Positive Outlook for the Healthcare Industry - Key Growth Indicator

Outsourcing Gathers Steam

Sourcing Strategy/Model: Means to Achieve Business Process

Sole Sourcing - A Model for Increasing Operational Efficiency

Radiology Services Offer Lucrative Outsourcing Prospects

In-house Vis-a-Vis Outsourcing

Offshoring Gains Traction

Off-shoring to Drive Cost-Effectiveness

A Brief Sketch of Major Outsourcing Destinations

India

Philippines

Nearshoring Finds Favor among Businesses

The Debate on Voice Recognition Technology Continues

Speech Recognition Technology - Impact on Medical, Legal and General Transcription

General Transcription

Legal Transcription

Medical Transcription

Front-End Solution Application Still in Nascent Stage

Speech Recognition Editing Services Gain Momentum

Advancements Revolutionize MT

MT: No Longer the Lone Choice for Creation of Medical Records

Is EMR System Really a Threat for MT Services?

ICD-11: Boon or Bane?

Gradual Shift to "VBC" based Pricing Model

Aging Population - A Vital Demography

Preventive Healthcare Trend Offers Potential

Advantages of Medical Transcription Drives Demand

Advanced Technologies to the Rescue

Robotic Automation Makes In Roads in BPO Industry

Social Networking Trend Transforms Business Strategies

Growth of Internet-Centered Technologies

Faster Adoption of Cloud-Based Medical Transcription Services

BPO Providers Warm up to Green Computing

Medical Transcription Outsourcing - A Review

Reasons for Outsourcing MT Services

Outsourced MT Services

Advantages of MT Outsourcing

Drawbacks of Outsourcing MT Services

Medical Transcription Offshoring

Offshoring - A Lucrative Option to Curb Business Expenses

Offshoring Barriers

Developing Nations - A Haven for MT Outsourcing Services

4. INNOVATIONS AND TECHNOLOGICAL ADVANCEMENTS

Digital Technology and Medical Transcription

Adoption of New EHR System

Speech Recognition Technology for the MT Services Market

AI and Voice Transcription

5. MEDICAL TRANSCRIPTION - AN OVERVIEW

Types of Transcription

Types of Transcription Services

Medical Transcription - A Core Component for Enduring Healthcare

Medical Documentation - A Critical Task

Medical Transcription Services Come to the Rescue

Medical Transcription Process - At a Glance

A Step-by-Step Approach

A Glimpse of Voice Capturing Equipment/Process

Digital Medical Transcription - A Contemporary Approach

Accuracy - A Critical Factor

What Type of Medical Records are Transcribed?

Medical Transcription Service Specialties

Benefits of Medical Transcription

Disadvantages of Medical Transcription

6. COMPETITIVE LANDSCAPE

AI based Transcription Services - Startups Challenge the Established Players

Enough Room for New Startups to Test Waters

6.1 Focus on Select Players

6.2 Product/Service Launches

Vanan Online Services to Launch Vanan Healthcare Service

Surgical Notes Launches SNChart Mobile Transcription Application

TranslateNow Launches TranscribeNow Division

6.3 RECENT INDUSTRY ACTIVITY

Mediscribes Chosen by the US GSA for Medical Transcription Services

M*Modal Supports FHN's Migration to MEDITECH's Web EHR with M *Modal Fluency Direct

M*Modal Acquires Landmark Transcription

iMedX Receives Contract from Vizient to Provide Medical Transcription Services

Keizer Solutions Acquires Scryptions International

M*Modal Enters into Agreement Under Vizient's Private Label NOVAPLUS

M*Modal Enters into Agreement with Vizient

iMedX Extends Agreement with HealthTrust to Provide Transcription Services

AHS Selects M*Modal for Transcription and Front-End Speech Recognition Platform

M*Modal Expands with New 84 Seat Facility in India

MedAssets-Precyse and Equation Integrate into Single Enterprise - nThrive

iMedX Acquires OzeScribe

7. GLOBAL MARKET PERSPECTIVE

8. REGIONAL MARKET PERSPECTIVE

8.1 THE UNITED STATES

A. Market Analysis

Outlook

Innovative and Efficient Services Accrue Several Benefits

Mounting Healthcare Spending Offers Robust Opportunities

HIPAA Directive for Privacy of Critical Patient Data

Medical Transcription Industry Resilient to Economic Recession

Outsourcing Opportunities Promote Medical Transcription

Drivers of Offshoring in a Nutshell

Health IT System Unfolds New Opportunities for BPOs

Measures to Mitigate Employee Deficit

Nearshore Strategy Gains Strength

Indian Firms Set Up Onshore Service Centers in US

Offshoring Challenges

The Adoption of ICD-11 - Market Implications

Synergy between Medical Transcription and EMR Technology Essential for Viable Patient Care

EHR - A Threat to Transcription?

B. Market Analytics

8.2 Europe

A. Market Analysis

Current & Future Analysis

Technological Developments Transforming Medical Transcription Industry

B. Market Analytics

8.3 Asia-Pacific

A. Market Analysis

Outlook

Asia Pacific Medical Transcription Market

Key Trends Influencing the Asian Market

Sustained Increase in Technological Advancements

Increase in Demand for Skilled Manpower

Increase in Outsourcing of Transcription Services

Easy Worldwide Accessibility

Robust Growth in New Emerging Markets

Why India is the Best Offshore Destination for MT Services?

Philippines - "The Second Offshore Destination of Choice"

Overview of Select Regional Markets

India - A Prelude

The Global Powerhouse for MT Services

Key Destinations

Growth Proponents

New Lease of Life for MT Industry

A Quick Look at the Industry Structure

MT Industry Immune to Global Economic Melt Down

Home-Based Transcription Sector Gaining Traction

Local Government Drive Market Growth

Frenzied Competition Ahead for India

The Changing Role of Indian BPOs

Focus Shifts to Smaller Towns and Cities

KPO Industry Gains Efficiency

Emerging Competition Fails to Affect India's Dominance

India Vis-a-vis Other Global Destinations in KPO Market

Major Challenges Confronting India's BPO Industry

Attrition - The Bane of Indian BPO Sector

Rising Salaries Affect India's Edge as a Cost Competitive Destination

Philippines - A Destination for High-Quality MT Services

High Growth on Cards

Growth Drivers

Growth Restraints

Philippine Government Measures to Brace MT Industry

HIPAA and AAMT Standards - A Key Performance Measure

Nursing Graduates Switch Role

Lack of Aggressive Promotion Perturbs MT Industry

Planned Initiatives for MT Industry Evolution

Malaysia

B. Market Analytics

8.4 Rest of World

Market Analysis

9. COMPANY PROFILES

Total Companies Profiled: 103 (including Divisions/Subsidiaries - 108)

  • The United States (78)
  • Canada (5)
  • Europe (3)
  • Asia-Pacific (Excluding Japan) (21)
  • Africa (1)

For more information about this report visit https://www.researchandmarkets.com/r/uwkwp6

View source version on businesswire.com:https://www.businesswire.com/news/home/20190612005428/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics:Healthcare Services

KEYWORD:

INDUSTRY KEYWORD: HEALTH OTHER HEALTH MANAGED CARE

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 06/12/2019 06:55 AM/DISC: 06/12/2019 06:55 AM

http://www.businesswire.com/news/home/20190612005428/en

© 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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