The Latest Released Medical Transcription Services market study has evaluated the future growth potential of Global Medical Transcription Services market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, emerging trends along with essential drivers, challenges, opportunities and restraints in Medical Transcription Services market. The study includes market share analysis and profiles of players such as Mmodal (Belgium), Nuance Communications (United States), Transcend Services (United States), Acusis LLC (United States), iMedX Information Services (United States), MTBC (United States), nThrive (United States), Medi-Script Plus (United States), Outsource2india (India), TransPerfect (United States), VIVA Transcription (United States), Medscribe (United States), Pacific Solutions (United States).
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Brief Overview on Medical Transcription Services
Healthcare establishments generate a lot of notes every day, from clinical documentation of patient encounters and patient records to administrative documents. Voice recognition software has become a go-to way for many healthcare providers to dictate their clinical documentation, but it has its boundaries. Accuracy remains spotty, requiring providers or their assistants to spend a great deal of time proofreading work that has already been completed. While speech recognition software is improving all the time with new technological advances, sometimes medical documents require a human touch. For those times, there are medical transcription services, which enable healthcare organizations to outsource their medical transcribing. Medical transcription services often include the act of transcribing medical reports that are dictated by physicians, nurse practitioners, and other healthcare practitioners.
Major Highlights of the Medical Transcription Services Market report released by AMA
Market Breakdown by Type (Online Service, Offline Service), Application (Hospitals, Clinics, Ancillary care facilities, Others), Mode of Procurement (Outsourcing, Offshoring, Both), Service Type (History and Physical Report (H&P), Discharge Summary (DS), Operative Note or Report (OP), Consultation Report (CONSULTS), Others {Pathology Report (PATH) & Radiology Report (x rays or radiographs)})
Market Trend:
- Adoption of Artificial Intelligence (AI) and Cloud technology
Market Drivers:
- Rising Demand for Medical Transcription Services Due To Rise in Risk for a Medical Malpractice Lawsuit
- Increasing Prevalence of Chronic and Acute Disorders Fueling the Growth of the Market
- Various Advantages of Medical Transcription Services Is Also Expected To Aid in Growth of the Market
Market Opportunities:
- Expansion and Acquisition Activities Are Expected To Offer Lucrative Growth Opportunities for Players in the Global Medical Transcription Services Market
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry.
SWOT Analysis on Medical Transcription Services Players
In additional Market Share analysis of players, in-depth profiling, product/service and business overview, the study also concentrates on BCG matrix, heat map analysis, FPNV positioning along with SWOT analysis to better correlate market competitiveness.
Demand from top notch companies and government agencies are expected to rise as they seek more information on latest scenario. Check Demand Determinants section for more information.
Regulation Analysis
• Local System and Other Regulation: Regional variations in Laws for the use of Medical Transcription Services
• Regulation and its Implications
• Other Compliances
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand Market condition five forces analysis is conducted that includes Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research and development)
• Legal (Employment legislation, consumer law, health and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal and sustainability)
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Heat map Analysis, 3-Year Financial and Detailed Company Profiles of Key & Emerging Players: Mmodal (Belgium), Nuance Communications (United States), Transcend Services (United States), Acusis LLC (United States), iMedX Information Services (United States), MTBC (United States), nThrive (United States), Medi-Script Plus (United States), Outsource2india (India), TransPerfect (United States), VIVA Transcription (United States), Medscribe (United States), Pacific Solutions (United States)
Geographically, the following regions together with the listed national/local markets are fully investigated:
• 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)
• MEA (Saudi Arabia, UAE, South Africa)
Some Extracts from Global Medical Transcription Services Market Study Table of Content
Global Medical Transcription Services Market Size (Sales) Market Share by Type (Product Category) in 2020
Medical Transcription Services Market by Application/End Users
Global Medical Transcription Services Sales and Growth Rate (2015-2025)
Medical Transcription Services Competition by Players/Suppliers, Region, Type and Application
Medical Transcription Services (Volume, Value and Sales Price) table defined for each geographic region defined.
Supply Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis
……..and view more in complete table of Contents
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