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  1. Join Date
    Oct 2006
    Posts
    15
    #1
    I was able to come across an ad having your own medical transcription business. What are your opinions about it? It looks lucrative and very networking oriented

  2. Join Date
    Mar 2006
    Posts
    141
    #2
    May dalawang klase ng business dun boss hondafan.
    Yung school part where you teach students to be MTs and the Transcription part (MT Company) where you actually transcribe doctors work and earn in $$$.

    Lucrative kung sa lucrative po. Pero sa dami ng MT schools ngayon kailangan competitive ang tuition mo.
    Sa MT Company, kailangan may cliente ka muna sa US before you even start building or buying anything para di masyado lugi sa puhunan po.

    Anyway, wala namang business na 100% sure na lalago agad eh. There, too, are risks you have to take. Pero pagnalampasan mo naman yung hirap ng pagsisimula sa business na yan, you just have to sit back (well, not always, you may have to make some US calls here and there) relax, and watch your $ account. hehehe.

  3. Join Date
    Oct 2006
    Posts
    15
    #3
    Quote Originally Posted by edalbau View Post
    May dalawang klase ng business dun boss hondafan.
    Yung school part where you teach students to be MTs and the Transcription part (MT Company) where you actually transcribe doctors work and earn in $$$.

    Lucrative kung sa lucrative po. Pero sa dami ng MT schools ngayon kailangan competitive ang tuition mo.
    Sa MT Company, kailangan may cliente ka muna sa US before you even start building or buying anything para di masyado lugi sa puhunan po.

    Anyway, wala namang business na 100% sure na lalago agad eh. There, too, are risks you have to take. Pero pagnalampasan mo naman yung hirap ng pagsisimula sa business na yan, you just have to sit back (well, not always, you may have to make some US calls here and there) relax, and watch your $ account. hehehe.

    Pero yung pinaka concern ko yung paghanap ng cliente. I heard kasi sa trainings for entrepreneurs yung discussion lang is the operations side of it. Not marketing to possible clients. They dont give assistance daw.

  4. Join Date
    May 2006
    Posts
    138
    #4
    as much as possible, mas maganda kung may contact ka sa US to do the marketing (na hindi ka gagaguhin). kung aasa ka lang sa internet, or nandito ka sa Pilipinas, napakaliit ng chance na makakuha ng client sa US.

  5. Join Date
    Jul 2006
    Posts
    260
    #5
    i also have a relative who was supposed to enter into this type of business, pero he was discouraged by friends. di na daw kasi masyado kailangan ang medical transcription (apparently may bagong technology na dinevelop which can do the transcription automated, or something like that)

  6. Join Date
    Mar 2006
    Posts
    141
    #6
    Originally Posted by hondafan
    Pero yung pinaka concern ko yung paghanap ng cliente. I heard kasi sa trainings for entrepreneurs yung discussion lang is the operations side of it. Not marketing to possible clients. They dont give assistance daw.
    That's the problem nga po. Magbabayad kayo to know more about the business pero hindi nila ipaaalam sa inyo yung downside nung business. The CLIENT is the most important part of the MT business. Sila yung customer eh. Tama po si putalittlemore
    mas maganda kung may contact ka sa US to do the marketing.
    You have to do your own marketing. Establish first the client, tsaka na yung business para maliit lang yung lugi. You can always pass the client to a running company muna and get it once your own company is up and running.
    Regarding naman po sa
    (apparently may bagong technology na dinevelop which can do the transcription automated, or something like that)
    ni bbt. That is voice recognition technology (VRT) and a majority of doctors sa US is shying away from using it kasi the doctors are the ones to learn proper diction and english, hindi yung VRT. And they have to hire another editor para ayusin yung work ng VRT.

    Hope this helps po.

  7. Join Date
    Oct 2006
    Posts
    15
    #7
    edalbau, bakit ang daming alam about this? Are you into MT yourself?

  8. Join Date
    Mar 2006
    Posts
    141
    #8
    madami na po ako pinagdaanan na work regarding MT po...
    We do little bit of consultancy at the side po for an MT company and we develop curriculum for those who wants to start an MT school.

  9. Join Date
    Jul 2006
    Posts
    1,731
    #9
    sir edalbau... I need your consulting expertise since we are very much interested in putting an MT School... I have done my research already but we need some good guys to jump start it since as we all know, getting the license takes 6 months... can you contact me at YM: rcelcomputers email: rcelcomputers*pldtdsl.net? Thanks.

  10. Join Date
    Sep 2003
    Posts
    287
    #10
    my 2 centavoses

    was involved in doing groundwork for setting a 50 seat MT biz-some inputs... the scenario was a group of Pinoy MD's abroad were putting money together to set it up here in MMla and they already had the clients lined up:

    -if you're starting from scratch on the MT side itself not the education/schooling, ask yourself "am i ready to bleed for the next 2-2.5 years"? this is on the assumption you'll set one up

    -the technology/infrastructure part is the easiest-us Pinoys are technologically at par with almost anyone in the world- app, backend, telco and client side etc..this part will also be a big chunk of you investment

    -the people part will kill you, why? well you got to look for, hire, maintain and retain good transcriptionists and editors
    nurses in training or waiting for jobs overseas are an untapped pool

    - "ear" for nuances in spoken english an acquired skill....we can understand english but our thought process is still 90% pinoy

    -the business model of home MT has yet to pickup or maybe even started i.e. imagine home based people using their own time and equipment (pc, dsl.. etc) to do work for you.....its a get paid when you work thing/produce thing
    trade off is quality of work will have to be even more scrutinized by your editors

    -Fact: MT business is fighting for only 20% of the total MT worldwide market
    Last edited by rlp1099; November 29th, 2006 at 12:06 PM.

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Medical Transcription Business