Medical transcription services has tremendously changed the way of delivering patient reports while reducing clinical documentation time

Medical transcription services are health reports that are typed out from dictated medical reports by medical professionals, such as doctors, dentists, and physicians. These reports contain vital information regarding a patient's health and are crucial to their care. This service offers data accuracy and data-driven insights for making an easy decision regarding patient treatment and care. Medical transcription services can be classified into Discharge Summary (DS), History and Physical Report (H&P), Operative Note or Report (OP), Consultation Report (CONSULTS), and Pathology Report (PATH) & Radiology Report.

Continuous advancement in medical transcription services is expected to drive the market growth. For instance, in October 2020, ETranscription, a Canadian transcription company, launched its new website and platform to expand its high-quality transcription services. The company has offered a free trial and reduced rates to help hospital streamline their workflow. Moreover, updates support a seamless online transcription process while delivering secure, accurate, and cost-effective services. This service effectively reduces clinical documentation time and enables doctors to plan patient’s treatments. Increasing adoption of technologies such as digital health, telemedicine, and EHR is further anticipated to foster the market growth of medical transcription services in the near future.

From the geographical point of view, North America is expected to gain significant growth over the forecast timeframe and this is attributed to the high adoption rate of medical transcription services in the region. Moreover, increasing distributing agreements among key manufacturer in the region is again anticipated to propel the market growth. For instance, in June 2017, iMedX, a health information and medical documentation solutions company, announced that it has signed a contract with Vizient, Inc. the member-driven health care performance improvement company in the country for transcription services solutions.

Key Developments:

1. In December 2019, Amazon Web Services (AWS) has launched a new machine learning service called Amazon Transcribe Medical, which will automatically convert physician consultations and dictated notes from speech to text.

2. In May 2019, MDofficeManager is pleased to announce its integration with PointClickCare, the leading cloud-based software vendor for the long-term and post-acute care (LTPAC) and senior living sectors.

3. In June 2018, Mediscribes, Inc., a Speech Recognition Technology, Medical Transcription, and Health Information Management Solutions, has been chosen by the GSA as a vendor of choice for medical transcription services and technology for all GSA Member hospitals.