| There has been a lot of talk lately about the | | | | healthcare industry if it doesn't begin to take |
| future of medical transcription. As the trends of | | | | steps now to attract new talent into the industry. |
| off-shoring and voice recognition pick up steam | | | | Some of this problem has already begun to |
| and threaten to displace traditional jobs in the US, | | | | materialize and regardless of what your opinion is |
| what is to become of the profession? It is a | | | | on offshoring, the offshore production of some of |
| logical question. | | | | the domestic US transcription workload has saved |
| The reality is that MT jobs continue to enjoy high | | | | the industry and bought some precious time to |
| demand in the marketplace. In fact, they are a | | | | find a more permanent solution to the acute |
| critical component of the most stable and rapidly | | | | personnel deficit. However, it will not continue to |
| growing segment of our economy. Healthcare! As | | | | mitigate the deficit in the US market indefinitely. |
| the global economic recession deepens, healthcare | | | | Vacant jobs will have to be filled as older MT's |
| may prove to be one of the only resilient | | | | retire and exit the industry. |
| segments of the US economy over the next 4 | | | | Voice recognition has also played a role in |
| or 5 years. | | | | mitigating the MT personnel deficit. And while |
| Every day it seems that there are new | | | | voice recognition technology is finding a place in |
| announcements of bankruptcies and layoffs | | | | the industry, it's role thus far has been to |
| affecting tens of thousands of people. When was | | | | augment the transcription process by giving |
| the last time you heard about mass layoffs in the | | | | transcriptionists a new and more favorable |
| healthcare industry? You don't and you never will - | | | | starting point for production. It has in no way |
| at least not for the next several decades as the | | | | delivered the silver bullet MT replacement that |
| baby boom population blossoms into full | | | | some have been hailing for decades now. What |
| retirement and demands an extraordinary volume | | | | we are seeing and what we will continue to see |
| of healthcare services. The interesting thing to | | | | as the adoption of the technology accelerates, is |
| note - and a fact not readily discussed by many | | | | that the role of a growing subset of the MT |
| in the medical transcription industry is that the | | | | community will be transformed. The work of |
| average age of active practicing transcriptionists is | | | | transcripionists in the future will increasingly be |
| somewhere in the mid 40's. That is the average. | | | | that of medical language editor; beginning with a |
| This means that a very large portion of the | | | | document that has been processed through a |
| active MT population is poised to retire and exit | | | | speech recognition software engine. |
| the industry in the next 5 - 10 years. | | | | But in the end, the anticipated surge of baby |
| Guess what? Those jobs don't just go away. All | | | | boom retirees will simply be too large to ignore. It |
| of those positions will need to be replaced. What | | | | is a problem that requires a serious and relatively |
| is more, these seasoned practitioners are among | | | | immediate solution. What is more, the aging |
| the most productive asset the industry has. They | | | | population consumes an exponentially large portion |
| produce an output of medical reports that is | | | | of available care services and resources. Which |
| sometimes 2 to 4 times the average production | | | | means, that as the aging population swells over |
| for new graduates who are just entering the | | | | the next decade, every facet of the healthcare |
| career field. This means that the industry will need | | | | industry will be strained. Medical records jobs will |
| not ONE, but possibly two or three new recent | | | | increase in both volume and importance over the |
| graduates to fill EACH of these positions.This spells | | | | next decade. Individuals who are adaptable and |
| job opportunity for prospective new students | | | | capable of stepping into new roles as the industry |
| considering entering this fast growing medical | | | | continues to morph will benefit substantially by |
| transcription career field. | | | | training now for entry into this fast growing and |
| Unfortunately, it could also spell disaster for the | | | | rapidly changing industry. |