I would like to mention that this is a long article.After my previous post on 12 work at home ideas I got a few inquiries regarding Medical Transcription as a Home based business. I have complied a list of question and answer and followed by the potential of it suiting us,Bohras, as a potential work at home business. I have based it on research of its future in India.Also,if you have suggestions,questions and information, please post it here,by clicking on the 'add new comment' at the bottom of the page.

What is Medical transcription?

The simplest definition of Transcription is conversion of voice to electronic text form. Medical Transcription is an IT enabled service that requires specialized skills in utilizing Information technology in converting the voice data of the doctors who are in the US, consisting of patient history and medical advises into electronic documents.

Who can become a Medical Transcriptionist?

A graduate in any discipline, who has a very strong command over English language and has a strong determination to excel and undergoes a minimum of six months of training in MT, can become a Medical Transcriptionist.

What skills are required to become a MT?

• Proficiency in English
• Good listening, writing and comprehension skills
• An eye for details
• Typing and basic knowledge in Computers would be an added advantage.

How old is MT in India?

In India, Medical Transcription business is 3 – 4 years old. The first MT company that commenced operations is Healthscribe India in Bangalore. The origin of MT is USA where it is a well established industry which is 25 years old.

What are the other MT companies in the country?

There are around 300 MT companies including training institutes. But there are not more than 20 –25 companies that are recognized i.e which are into production activity. Some of the leading MT companies are Healthscribe in Bangalore, Karvy, Care Technologies, Worldtech in Hyderabad, Selectronix in Delhi. The places where this business is predominant are Bangalore, Hyderabad, New Delhi, Chennai, Coimbatore, Trivandrum.

What is the duration of a MT training program?

The duration as given by various training institutes is 6 months.

What does the MT training involve and what is the curriculum?

The training includes a balanced mix of classroom and lab practice. The main subjects in which an individual is trained are – Medicine, English, Computers, Typing and Medical Transcription. Besides all these a lot of inputs are given on Americanisms and Listening Skills.

Is it necessary to have a science background to become a MT?

No, any post- graduate /graduate belonging to any faculties is eligible. Most of the training institutes have a screening test to take candidates into training.

Is it a full time or part-time training?

Normally, it is a full time training as it demands 10–12 hours of study. There could be some companies, which offer part-time courses, but in this case the training period would be more than six months.

Is there a crash course in MT training?

No, a person needs to go through the entire training as stipulated as this is a professional course. The training is different from all other programs as the accuracy rate expected from a Medical Transcriptionist is 98.5% and a turnaround time of 12 hours. There are no concessions to this stipulation. Though a person may have related experience and qualification like medicine etc., one has to go through the complete training module to become a medical transcriptionist.

How much will I earn as a medical transcriptionist?

After the training one could start earning anything between Rs.4,000 to Rs.6,000 per month. As this is an incentive oriented job, for a good performer, the sky is the limit.

Do I have to work in shifts?

This depends on the company you are working for. There are a number of companies which work in single / multiple shifts.

What are the job prospects in MT?

Any MT who is able to transcribe with a consistent accuracy of minimum 90 % and a good speed has got a good future in MT.

Can I get a job in the US if I am trained in MT?

Yes, if you are a Certified Medical Transcriptionist, you can get a job in the US. This test is conducted by American Association for Medical Transcription (AAMT). More information on this can be obtained at www.aamt.org

How long is MT going to stay in India?

A study done by NASSCOMM predicts that this industry is here to stay for atleast 10 years.

What kind of growth does MT industry offer?

Presently in the US the demand for MT is increasing at the rate of 20%. It does offer both professional and monetary growth to an MT. A trained medical transcriptionist has various options depending on the performance, like, Team Leaders / Group Leaders / Account Managers / editor/ Proofreaders / Trainers.

Is the speech recognition software available in the market a threat to MT business?

No, it is certainly not a threat as it cannot do all that an MT can. There are a lot of limitations in it. Though it has been in the market for quiet some time, it has never been found to be of major help in Medical Transcription. It may be used by MT companies as an additional tool for increasing productivity of MTs.

Can I do transcription from home?

Yes, it is possible. A number of offers are available on the internet for home transcription. With adequate training in MT and technical requirements available, one can do home transcription. In India, this trend is yet to catch on.

In India, HT ,(home-based medical transcriptionist) as a concept started about four years ago and is still in a nascent stage. Nevertheless, the concept is catching up even as multinational firms look for skilled manpower at a low cost.

At the core of Acusis, a leading MT company in India,' home transcription plan is its software, AcuSuite. It allows transcriptionists to connect to the main office, sends them the voice files to be transcribed, then sends the documents back to the Acusis facility. To ensure quality, another team of transcriptionists review the files once they are submitted.

To become an HT, one needs a personal computer, the requisite skills sets and to a certain extent the domain knowledge. Accuracy and speed is important in this field. Further, there is pressure on the HTs, as the companies normally work on a 24-hour turnaround time.

"HT provides the right combination of earning and spending time with the kids sitting at home," its said. Other than the PC cost an HT needs to pay a deposit to the company which could be Rs 10,000-Rs 60,000 depending upon the firm.

The deposit, is to ensure that only genuine persons enter the HT field. For HTs, there is no exclusivity clause to work for a particular company, they can work for multiple companies.

On an average, an experienced HT can transcribe and type 600-800 lines per day. With 95-97 per cent accuracy, the income could be Re 1 per line, which translates into Rs 600-800 per day, she said. However, there may not be work all the time, she added.

Besides housewives, doctors, nurses and pharmacists take it up as a part-time job. The company has a per line quantity/quality-dependent payment system, and an Acusis HT can plan the amount of work he/she would like to perform on a daily basis.

While HT can make a good living, performing MT as a home-based business is not a ``get rich quick scheme". Medical transcription is hard work but can be rewarding both financially and personally, says sources. However, the transcriptionist working from home must make a significant investment in equipment and reference material and be willing to make frequent updates to both equipment and library in order to keep up with rapidly changing technology and terminology, say experts.