A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. The increase in the need for automated transcripts is notably driving the medical transcription market growth, although factors such as an increase in concerns over medical data privacy may impede the market growth. To learn more about this report, Download the Report Sample Medical Transcription Market: Key Drivers, Trends, Challenges, and Customer Landscape What will the Size of the Medical Transcription Market be During the Forecast Period? Furthermore, the report includes historic market data from 2017 to 2021. It also includes an in-depth analysis of drivers, trends, and challenges. This report extensively covers market segmentation by end-user (hospitals, physician groups, and clinics), type (services and software), and geography (APAC, North America, Europe, Middle East, and Africa, and South America). The growth of the market depends on several factors, including the increase in the need for automated transcripts, the rising chronic diseases and aging population, and the growth in healthcare IT spending. The size of the market is forecast to increase by USD 24,676.02 million. Concerns persist about partial medical transcription services and accuracy, which has been hampering the overall quality of medical transcripts and over the past few years.The medical transcription market is estimated to grow at a CAGR of 6.04% between 20. That’s not to say there won’t be challenges. Medical transcription is performed with the help of different techniques adopted by healthcare professional or in-house transcriptionists, factors that are predicted to drive market demand over the next few years. Most medical transcription devices consist of built-in speech recognition and memory storage systems. The medical transcription industry is considered one of the most vibrant segments in the healthcare management sector, since it is affected dramatically by evolving technologies. More hospitals are also outsourcing medical transcription services to third-parties, which the analysis expects to double. On top of that, increases in the number of transcribers, coupled with years of training to learn various methodologies and terminologies, is expected to boost overall market demand in near future. Other factors attributing to the growth of the market are the rise in the value of skilled professionals and an increase in the outsourcing of medical transcription services. Growing adoption of automatic transcribing technologies, in fact, is expected to replace various analog devices in near future, according to Radiant. Technavio pointed to voice recognition technologies as a big driver of hospital plans whileĪn analysis Radiant Insights published earlier this year added that key factors driving hospitals adopting transcription tools are reliability, portability and cost-effectiveness. Research firm Technavio published a report last month projecting that hospitals globally will spend more than 72 billion by 2020, representing 6 percent compound annual growth rate. Two research reports suggest that hospitals will deploy more medical transcription tools from companies including Acusis, Nuance, MModal, iMedX, Precyse, Scribe Healthcare, Superior Global Solutions, Transcend Services and TransTech Medical Solution, among others. Such data is used largely by healthcare organizations and electronic health record initiatives. Medical transcription is the process by which doctors and healthcare professionals process health records, which are then converted into a readable format from voice and text. Medical transcription tools have long been legacy products but as vendors inject modern technologies, notably automation and voice recognition, new data suggests that hospitals are going to deploy more of these products and services amid broader digital transformation work.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |