It is a fact that at least 20 to 30% of the Medical Transcription work in other countries, including India and the Philippines, with maximum work to India. Why does this happen?

We analyze the current situation of medical transcription in the U.S.. An average transcriptionist in the U.S. earns about $ 35,000 per year with most of them in the late 40s and above. Given the unappealing nature of this occupation, the bulk of the workforce consists of people from home who are retired. Even medical transcription is not easy as it is deemed necessary. Sitting on the computer desk for 8 hours and listening and editing at the same time is a skillful and monotonous work, which further discouraged Americans venture into it. Also, the turnaround time TAT is still an important factor, the American transcriptionists optimally during the evenings or nights. This is certainly an unattractive working for most of the aging workforce.

All this resulted in slow transcription companies to search for more opportunities in other countries where medical transcription work can be done with an acceptable degree of accuracy in the TAT. This resulted in the transcription outsourcing to countries with high English speaking population a reliable and dedicated staff, the best of them from India. It would be wrong to say that the majority of the work currently done today is to India. This is due to a variety of reasons:

- Indian workforce includes a majority of young people who are in their mid-'20s.

- Do you have a skilled workforce with the highest percentage of English-speaking population in the world, even greater than in the U.S..

- Indian government strongly supports all business process outsourcing venture investments quickly, easily and affordably.

- Cheap with skillful workers salaries less than a quarter of their American counterparts.

- Large pool of trainable workers, and responsible, which in most species more than dedicated and loyal American counterparts.

- Last but not least, the TAT is very likely to Indians, as it is 12 hours prior to the U.S..

Because of all these reasons, a large part of outsourcing is being done to India (and some other countries) with the U.S. Dollar to Indian rupee exchange rate to add fuel. Recently, 1 U.S. Dollar was almost equal to 50 rupees, albeit with declining U.S. Dollar and the economic recession, the changeover is now only about 40 rupees. This has led to a significant decline in profits to the Indian colleagues, but because of the strong economy and cheap labor, most of the large Indian company that is partly owned by American giants were able to overcome the losses and still a profitable profile.

The recent U.S. Dollar but drowning has led to outsourcing to reduce as more and more Americans are becoming unemployed and underpaid. The down-sliding economy and downsizing has been a major concern for most of the average wage, Americans are on the lookout for other opportunities to earn and in such moments, medical transcription knowledge is very useful. About 5-10 years back, on average, per line for transcription was approximately 13 to 20 cents. But because of the dwindling economy and outsourcing encore on fire, so is the average pay per line has focused on only about 4-9 cents, which has affected every pay check transcriptionist.

Outsourcing, but is presently still high enough, partly because of the shortage of labor in conjunction with an aging workforce, the difficulty of working in shifts. In some ways benefited the majority of American companies and healthcare industries. However, with the global economy on the rise, it will not last long enough in the choice of outsourcing is not a profitable company and at this point, a large demand for a strong and dedicated American workforce is at a peak. All in all medical transcription in the U.S. is currently on the increase, more jobs and more people participation in training to work, even part-time as transcriptionists. Transcription provides fast money with only a few months of training in the comfort of your own home. Most of the transcriptionists in the U.S. are employed. There is no shortage of jobs and still an average MT earns about $ 35,000 per year. So the future of transcription stays good!

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