|23 August, 2018

Medical transcription market set for 6.3% growth between 2018-2022

Go Transcript will help local governments cut their healthcare spending

A Publix Supermarket pharmacy manager retrieves a bottle of antibiotics from the shelf August 7, 2007 in Miami, Florida. Publix has decided to start giving away seven commonly prescribed antibiotics for free. Image used for illustrative purposes.

A Publix Supermarket pharmacy manager retrieves a bottle of antibiotics from the shelf August 7, 2007 in Miami, Florida. Publix has decided to start giving away seven commonly prescribed antibiotics for free. Image used for illustrative purposes.

Getty Images/Joe Raedle
As a result of increased automation in health care services, the medical transcription market is anticipated to grow at a compound rate of 6.36 per cent between 2018 – 2022, a report said.

The need for automated transcription services is driven by the need for local governments to reduce their spending on healthcare, yet simultaneously maintain accuracy and use the latest technologies in their practices, explained Go Transcript, a specialist in human-powered translations.

Go Transcript will help local governments cut their healthcare spending and improve the quality of their medical transcriptions by offering fast, accurate, medical transcriptions delivered by an international network of more than 2,000 human transcribers, at prices up to 60 per cent lower than other similar service providers.

The medical transcription market is divided into four regional segments: North America, Europe, Asia-Pacific, Latin America and Africa. By 2022, the Asia-Pacific market is set to experience the largest rate of growth as a result of countries India, the Philippines, and Singapore receiving the biggest amount investments from leading medical industry players as they explore potential opportunities in the region.

Go Transcript is well-positioned to assist industry players seeking to invest in these regions thanks to its translation services, a company statement said.

Its dedicated team of native speaker transcribers translate in 22 target languages and will turn around the translation within 72 days of receipt. Moreover, its translation and transcription teams have a proven accuracy rate of over 99 per cent.

“With the medical transcription market expected to grow significantly over the next four years, we expect Go Transcript to be the forefront of this trend,” said Go Transcript CEO Peter Trebak.

Transcription services are not just related to the medical sector. In recent years, the BBC, Netflix, the University of Cambridge, plus popular brands such as Samsung, Omega, and Bose have all used Go Transcript since its foundation in 2006. – TradeArabia News Service

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