Medical Transcription Services Market May Set New Growth Story | iMedX Information Services, MTBC, nThrive, Pacific Solutions

The Latest survey report on Medical Transcription Services Market sheds lights on changing dynamics of each of the subsegments of Industry. As the shift to value continues, Medical Transcription Services organizations have the dual challenge of increasing interoperability to improve clinical performance and the patient experience. Some of the companies listed in the study from complete survey list are Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions, Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT & LC Transcription Services.

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Medical transcription, also known as MT, is an allied health profession dealing with the process of transcribing voice-recorded medical reports that are dictated by physicians, nurses and other healthcare practitioners. Medical reports can be voice files, notes taken during a lecture, or other spoken material. These are dictated over the phone or uploaded digitally via the Internet or through smart phone apps.

Medical transcription (MT) is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians or other healthcare professionals, into text format. Medical transcription services provide the groundwork for the adoption of electronic medical records (EMR) system. Medical transcription services allow hospitals and providers to outsource a critical business process, reduce costs, and improve the quality of medical documentation, without additional capital investment. The global medical transcription services market is primarily driven by adoption of medical documentation and recording systems, government’s initiatives in health information infrastructure, implementation of EHRs, technological innovations through the use of electronic technology to reduce turnaround time, increasing focus on lowering costs and increasing productivity and improving the quality of patient care while ensuring patient’s safety.

The global Medical Transcription Services market was valued at 6408.7 million in 2021 and is projected to reach US$ 8609 million by 2028, at a CAGR of 4.3% during the forecast period.

After significant government- and growth-driven technology investments over the past decade, there is a need for organizations to increase their focus on performance optimization to gain better penetration in Medical Transcription Services Market and achieve significant economies of scale. Most healthcare organizations of Medical Transcription Services Industry now realize that consumer interactions should be tech-enabled, and aligned to meet the needs of all patients from Generations X, Y, & Z to aging baby boomers and beyond. Therefore, a fundamental shift is underway to treat patients as consumers in Medical Transcription Services Industry.

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Research Framework: To evaluate opportunities for ancillary revenue growth in Medical Transcription Services Market and to look at adjacent specialties as opportunities; the scope of Medical Transcription Services study is defined so as to get market size breakdown by value & volume by key business segments that includes technology, by type [, Global Medical Transcription Services Market Segment Percentages, by Type, 2021 (%), Outsourcing & Offshoring], applications/end users [Hospitals, Clinical Laboratories, Academic Medical Centers & Others], by regions and by Companies.

Competitive Landscape: The robust Medical Transcription Services company analysis is designed covering important aspect like company overview, Key executives details, business models, major development activities, financial metrics and SWOT analysis of Medical Transcription Services to help clients improve their market position, along with market share and heat map analysis to ascertain insights not just for market leaders but also high growth emerging players; some of them are Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions, Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT & LC Transcription Services.

Regional Analysis: The country classification of Medical Transcription Services Market Study includes

APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
North America (U.S., Canada, and Mexico)
South America (Brazil, Chile, Argentina, Rest of South America)
Middle East & Africa (Kingdom of Saudi Arabia, United Arab Emirates, South Africa, Turkey, Israel and Rest of MEA)

“Shrinking margins and rising costs are driving public and private health systems to use technology innovations, M&A, and other partnering arrangements to improve operational efficiencies and reduce expenses”

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What you can explore with this report
• To carefully analyse and forecast the size of the Medical Transcription Services market by value in dollar terms.
• To estimate the market shares of major segments of the Medical Transcription Services market.
• To showcase the development of the Medical Transcription Services market in different parts of the world.
• To analyse and study micro-markets in terms of their contributions to the Medical Transcription Services market, their prospects, and individual growth trends.
• To offer precise and useful details about factors affecting the growth of the Medical Transcription Services market by Country and Individual Segments.
• To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Medical Transcription Services market, which include research and development, collaborations, agreements, partnerships, mergers & acquisitions, new developments, and product launches.

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