Archive for March 4, 2010

Global Market for MT Services Set to Skyrocket

The global market for medical transcription services is expected to approach $49 billion worldwide by the year 2015, according to a recent report from Global Industry Analysts, Inc.

Growth in the industry is primarily triggered by efforts to prune down healthcare costs. Health maintenance organizations, healthcare providers, and hospitals, primarily in developed countries, are increasingly turning towards the maintenance of digital records of patient encounter, which is contributing for rapid proliferation of medical transcription services.

The United States is the largest market worldwide for medical transcription services followed by the UK, Australia and Canada, as stated by the new market research report on medical transcription services. The increasing complexity of the health care sector, coupled with heightened demand for reliable health care documentation for insurance claims, have been the two major factors driving the United States’ medical transcription industry.

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