The Philippine medical transcription industry will not be spared from the effects of the global economic slowdown although its share in the global market is small, an executive of a transcription company said Tuesday.
Speaking in one of the sessions at the BPO Summit Philippines 2008, Fred Kumetz, chief executive officer of medical and transcription firm eData Services said that the medical transcription (MT) sector is not immune to the effects of the slowdown in the economy of the United States, where most MT clients are based,
“The belief that medical transcription is recession proof is a fallacy,” said Kumetz.
Kumetz, however, said that the effect of the slowdown in the global MT industry will be “totally insignificant” because the Philippine MT industry is too small to be affected by the financial crisis.
The transcription sector is one of the non-voice sectors of the BPO in the Philippines. In 2007, the sector generated US$197 million and it has grown by an average of 24 percent during the past three years.
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Sunday, December 7, 2008
Medical transcription industry to take a hit from US recession
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