More Than 10k Transcriptions Required Each Yr

The $250-million medical transcription (MT) industry in India is on a roll. With replacements hard to come by for transcriptionists moving out of service in the US, the largest market, the MT industry in India is upbeat. India needs more than 10,000 MTs every year, and the industry is growing at around 50% annually, according to Suresh Nair, president of Indian Medical Transcription Industry Association (IMTIA) and CEO of Spheris India. Around 200 companies in the industry employ more than 12,000 people in the country. "The growth is happening not because of the cost factor, but due to the lack of trained manpower in the US," Mr Nair told reporters here on Wednesday. While the manpower capacity in the US is declining by 10% every year, replacements are not happening in the same proportion he said. He acknowledged that India is facing stiff competition from Philippines, Sri Lanka, Pakistan and Bangladesh. (Ref : The Economic Times dated May 18, 2006)