MANILA, Philippines -- Despite a huge potential market in the United States alone, the medical transcription industry is challenged by the lack of qualified workers and the continued depreciation of the US dollar.
According to the Medical Transcription Industry Association of the Philippines (MTIAPI), the medical transcription or MT market in the US alone is valued at $18 billion. The Philippines, though, serves only one percent of the total outsourced market.
MTIAPI has set a revenue target of $110 million this year and by increasing the country's market share even just three percent, the industry estimates $254 million in less than three years.
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Friday, February 15, 2008
Medical transcription firms fear further US dollar decline
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