The international recognition that we have received in software is going to make it far easier for companies to sell the concept of outsourcing IT-enabled services to India from overseas. There is a very strong opportunity in medical transcription services. However, the last few years have witnessed consolidation in this industry. This is due to increasing maturity and decreasing differentiation between service providers. However, vendors may attempt to providers value differentiation by developing special features within constant cost bracket.
Industry also perceives intelligent voice recognition software as a potential concern.
However, in spite of the advances in this technology, it has been difficult for the computer to grasp and analyze the human voice and the English language with all its diversity. There will continue to be a need for skilled medical language specialists who expand their education and have the knowledge to identify and edit the inevitable errors created by speech recognition systems, and who have enough understanding of the health record to create an accurate final document.