Project Report For Medical Transcription
Introduction
Project report for medical transcription is as follows.
Medical transcription is one of the most professional IT-related services. The medical industry requires highly competent data processing jobs. Doctors keep medical records for future reference and follow-up with each patient. Furthermore, medical records are useful for better treatment in areas such as health care, insurance claims, and medical research.Â
A detailed electronic medical record decreases the possibility that any critical outcomes may be overlooked. Because of the high cost of computer operators and typists in other countries, medical transcription has become a financially viable company as the internet’s popularity has grown.
Product & Application of Medical Transcription
In this technique, a doctor in another country (say, the United States) dictates a patient’s case history and suggestions directly to a computer, where the information is saved as voice files. These files are sent to the server from the doctor’s computer.Â
The server of a medical transcription company in India is linked to a company in another country via a network. The voice files are downloaded, transformed to legible MS-Word files, and then uploaded back to the overseas server so that the overseas doctor can keep track of them.
It is essential that the promoter has a fundamental understanding of computers and information processing because this is an IT-based firm. While those with the following qualifications are preferred, those with remarkable entrepreneurial skills are also welcome to engage in these activities: Any graduate with a certification in hardware technology or software applications;
a) Any computer science or engineering graduate.
b) Any electronics, electrical, or computer science diploma.
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Process of Medical Transcription
The case history of a patient is dictated to a computer in another country (let’s say the USA) and preserved as audio files. They are then kept on an international server. Through a communications network like leased lines, VSAT, etc., the server of an Indian medical transcription company is linked to an overseas company.Â
To enable the overseas doctor to keep them as records, the audio recordings are downloaded, changed to readable MS-Word files, and then uploaded back to the foreign server. Typically, there will be an international agent between the doctor and the organization providing medical transcribing services. The cost of the service is determined on how many lines are translated. The peak hours for transcription will be between 9 p.m. and 6 a.m., in shifts.
The medical transcription service centre can succeed thanks to the aforementioned features. The centre would give many locals a place to work in addition to assisting in the promotion of IT services. The centre may also perform DTP jobs and training activities involving computers during downtime or off-peak hours to generate additional cash.
Market Potential Of Medical Transcription
The market for medical transcription was valued at USD 1.32 billion in 2019 and is anticipated to grow to USD 4.89 billion by 2027, with a CAGR of 17.8%.
Expenses
Product Cost Breakup
Reveneue Vs Expenses
Market Trend
India has become a key international partner for the expansion of information technology and services related to it. There are already a lot of businesses offering medical transcribing services. One of the reasons for this rise is the accessibility of highly qualified professionals with strong English communication skills at a lower cost than those in industrialized nations. Medical transcription services are also encouraged by the time difference of 8–12 hours.
India today has access to the internet almost everywhere. Medical transcriptionist training programmes are provided by educational institutions. Both BSNL and internet service providers give dependable internet connectivity. Data transmission speed has greatly increased thanks to broad band. Computer gear and software are readily available locally.
To promote IT and services that are enabled by IT, many state governments have already released separate IT policies. Before beginning to offer medical transcription services, the new business owner must research international markets.