Global Medical Transcription Services Revenue Is About 5 Billion USD In 2017

New report published by Global Info Research which offers insights on the global Medical Transcription Services market.

Medical transcription, also known as MT, is an allied health profession dealing with the process of transcribing voice-recorded medical reports that are dictated by physicians, nurses and other healthcare practitioners. Medical reports can be voice files, notes taken during a lecture, or other spoken material. These are dictated over the phone or uploaded digitally via the Internet or through smart phone apps.

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Global Medical Transcription Services Market: Forecast by Type / Application / Region

The major players in global market include:, Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions , Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT, LC Transcription Services.

On the basis of product, the Medical Transcription Services market is primarily split into:, Outsourcing, Offshoring.

On the basis on the end users/applications, this report covers:, Hospitals, Clinical Laboratories, Academic Medical Centers, Other.

Medical transcription, also known as MT, is an allied health profession dealing with the process of transcribing voice-recorded medical reports that are dictated by physicians, nurses and other healthcare practitioners. Medical reports can be voice files, notes taken during a lecture, or other spoken material. These are dictated over the phone or uploaded digitally via the Internet or through smart phone apps.

Medical transcription (MT) is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians or other healthcare professionals, into text format. Medical transcription services provide the groundwork for the adoption of electronic medical records (EMR) system. Medical transcription services allow hospitals and providers to outsource a critical business process, reduce costs, and improve the quality of medical documentation, without additional capital investment. The global medical transcription services market is primarily driven by adoption of medical documentation and recording systems, government’s initiatives in health information infrastructure, implementation of EHRs, technological innovations through the use of electronic technology to reduce turnaround time, increasing focus on lowering costs and increasing productivity and improving the quality of patient care while ensuring patient’s safety.

In the last several years, global market of Medical Transcription Services developed rapidly, with an average growth rate of 5.7%. In 2017, global revenue of Medical Transcription Services is about 5 billion USD.

Any healthcare institute in order to acquire medical transcription service can either outsource the job to a domestic medical transcription service organization, offshore or opt for both methods. Outsourcing is the most preferred mode of service procurement in medical transcription with the market share of 71.4% in 2017. In addition, large internationally operating healthcare organizations prefer to opt for both the modes of service procurement, due to reasons such as ease of operations, rapid turnaround times and easy allocation of monetary resources on the basis of nature of reports.

Medical Transcription Services can be applied in Hospitals, Clinical Laboratories, Academic Medical Centers and Other. The most of Medical Transcription Services is used in Hospital, and the market share of that is about 55.7 % in 2017.

North America is the largest consumption place, with a consumption market share nearly 78.3% in 2017. North America currently dominates and is expected to retain its position in the medical transcription services market in the future. Growth drivers for this market in North America are factors such as rise in aging population and passing of Patient Protection and Affordable Healthcare Act, 2013.

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Related Information:
United States Medical Transcription Services Market 2018 Forecast to 2023
Europe Medical Transcription Services Market 2018 Forecast to 2023
North America Medical Transcription Services Market 2018 Forecast to 2023
Asia-Pacific Medical Transcription Services Market 2018 Forecast to 2023
China Medical Transcription Services Market 2018 Forecast to 2023
EMEA Medical Transcription Services Market 2018 Forecast to 2023
Global Medical Transcription Services Market 2018 Forecast to 2023

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