university of california san diego medical center

university of california san diego medical center
The Indian rupee has steadily increased value against the U.S. Dollar in the last five years. The dollar, which is worth almost 48 Indian rupees five years ago, now has a value of less than 40 question is whether This assessment of the value of the rupee has outsourcing unattractive for companies to reduce costs.

One of the industry to India from the U.S. to reduce costs is Medical Transcription. The outsourcing saga has been on many factors:

• High labor costs in the U.S. - the average annual wage for a U.S. medical transcriptionist is approximately $ 30,000 (www.bls.gov), while that of an Indian medical transcriptionist is about a quarter of that amount.

• The unsympathetic nature of the profession - the average American it would be difficult for the management of a family on a salary of medical transcriptionist.

• The aging workforce - the average American Medical transcriptionist 50-plus years, while the average Indian medical transcriptionist is about 25 years old.

• The turnaround time factor - medical transcriptionists in Indian companies are working around the clock in three shifts, and there is no shortage of skilled labor. A doctor can be expected to sign its report within a few hours, they dictated.

• The Indian government encourages businesses to start Medical Transcription Services and gave them tax exemptions.

• The U.S. government tries, the cost of health care.

• India had a skilled workforce with the largest English-speaking population in the world.

Fourteen years ago, the recording was from the United States. India is English-speaking population is more than the total population of the United Kingdom and the USA. English has a special status in India - in parliament, courts, broadcasters, media and schools.

What is the situation today? The dollar will fall and the rupee is rising. Is Medical Transcription Outsourcing to India is still a viable low cost alternative?

Industry insiders believe that the cost is not the only motivation for outsourcing, although it is one of the most important factors. A large number of young and energetic potential medical transcriptionists to work in shifts around the clock in a U.S. company in the offshore investment would ease issues of training for a specific client. The regulated environment of an offshore center would also help towards achieving high quality and turnaround time benchmarks.

The outsourcing trend continues unabated. While some people, that 20% of all medical transcription is outsourced, while others, the number as high as 50%. Some companies based in the United States are also entitled to work in the country and outsource their work secretly, without admitting it publicly.

Colloquial language such as narrowing of exchange rates may sound confusing, but ultimately the downfall of dollars in connection with the rising rupee may lead to higher wage bills and less profit for companies which outsource jobs to India. While the appreciation of the rupee, the shops in India, can still be competitive, because India has a very strong medical transcription industry during the last ten years or so. In the present case, we have Indian companies transcription also for British and Australian hospitals.

For larger players in the medical transcription industry, foreign currency fluctuations did not change this role. They have their talent pools and maintained. These undertakings should send their brightest medical transcriptionists, the CMT-examination of the Thomson Prometric Center available near their centers and refund of fees. New research and development initiatives are constantly in these companies. These players will also be greater discovery that the Indian work ethic is far higher than the U.S..

The labor situation in the U.S. is also a reason for alarm. While the American Medical Transcription Industry workload increases each year, staff is also declining each year, raising questions about who is for the shortfall. In the 1980s, medical transcription was an attractive offer many employers and potential candidates, but today the situation is different, because many Americans believe that medical transcription is no longer attractive. This worries a lot of companies that are not outsourced their work so far.

In recognition of the shortage of medical transcriptionists nationwide the Department of Labor declared medical transcription as a profession as a prelude apprenticeable establishing a national training program. The Medical Transcription Industry Association and the Association for Healthcare Documentation Integrity for apprenticeability provision for qualified graduates of the selected Medical Transcription Training and it is learned that the U.S. Department of Labor (DOL), which this application (www.mtia.com).

Although it is hoped that many will participate in these programs, the lack of American talent can become a Catch-22 situation for most companies that do not prefer Medical Transcription Outsourcing to India or other countries.

Most large Medical Transcription company, the workers abroad also offer U.S. transcription, since a number of providers in health care still prefer American transcriptionists. This can be caused by a false idea that the American Medical transcriptionists are better than the Indian, but most established manufacturers in India have now proved that Indian medical transcriptionists are as good as, if not better than their American counterparts, especially when dealing with dictators, the German is not their mother tongue.

Larger suppliers are transcription factors, the history of outsourcing work, the rise of rupee notwithstanding. For example, large companies have proven that they are their own and still managed profitably, while the highest quality standards. No client outsourcing to India, to name just a few dollars, if the quality is too bad.

As customers expect faster turnaround times, excellent quality and reduced costs, the scenario of the future can be a mixture of onshore and offshore Medical Transcription, especially with the labor shortage in the U.S..

Last but not least, HIPAA regulations would be better served by outsourcing medical transcription. A medical transcriptionist in a foreign country would not be curious about a patient or what his or her condition. The patient would be just a faceless person who has work to do, would be just another file to transfer. The confidentiality of medical records will be saved automatically. Someone named Venkatanarasimhalakshmiraju, for example, Transcribe a medical report in Hyderabad do not care or be bothered about a Jane Doe of pregnancy or a John Doe of the prostate.

An unknown person in a corner of the world transcribing your medical records as a matter of routine would be better at protecting your privacy as someone in the neighborhood of curious why they become ill and not return to work.