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The recent boom in Information Technology and Telecommunications, both in terms of facilities and costs, has thrown open exciting opportunities for exports to the developed countries especially in case of intellectual labor intensive industries such as Software Development and IT enabled services. According to National Association of Software and Service Companies (NASSCOM), the key body looking into the IT industry’s growth in India, the revenue generation by remote processing alone is pegged at approximately US $2.5 billion by the year 2004.
In the United States, the health care industry is based on insurance and detailed medical records form the basis for insurance claim processing. Furthermore, the medical practices are bound by a strict code of ethics and legal statutes that have to be observed diligently, as any negligence can lead to multi-million dollar lawsuits. Therefore, a very high level of documentation at every stage of medical treatment is the only way to prove non-negligence in the treatment process.
The extensive documentation procedures can take considerable amount of a doctor’s valuable time. Thus, the doctors dictate medical reports on to a computer using an instrument called a dictaphone which stores information as digitized audio, and specialized professionals called Medical Transcriptionists then convert the audio into document form. The Medical Transcription market is already over US $18 billion in size and growing at a rate of 12% annually. |
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