Sunday, June 15, 2008

Philippines Firms Got $1.4 Million Transcription Contracts

Philippine medical transcription companies won $1.4 million worth of contracts with American clients during a marketing mission, the government announced.

A recent mission to an exhibition and conference of the American Health Information Management Association (AHIMA) in Philadelphia showed large US companies that Philippine companies can handle US accounts and has enough headroom for future demand, said the Center for International Trade Expositions and Missions, a part of the Department of Trade and Industry.

The association represents more than 51,000 specially educated health information management professionals in the US healthcare industry.

Industry projections show Philippine annual revenues from transcription at 20 million lines –translating to $1.2 million — and 130,000 charts for medical coding, amounting to $175,500.

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