Global Medical Transcription Services Category - Procurement Market Intelligence Report

This procurement report offers supplier market insights for strategic sourcing and procurement professionals looking to identify cost-saving opportunities.

  • Published: Nov 2017
  • Pages: 70
  • SKU: IRCMSTR14671
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Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix

 

Medical Transcription Services - Category Spend Analysis

According to analysts at SpendEdge, the need to maintain electronic records is increasing with rising patient base. This is leading the healthcare industry to opt for medical transcription services to maintain timely and accurate health records of a substantial patient base. However, maintaining health records in a report format is a tedious process, and the need for in-house operations to maintain these reports is leading to decreasing in productivity of doctors and physicians. Also, it is leading to the provision of low patient care as doctors are more inclined to document the data. This has influenced hospitals and healthcare management systems across these countries to opt for medical transcription services to maintain health records of an increasing patient base, leading to the growth of the overall medical transcription services market.

Medical Transcription Services - Procurement Best Practices

One of the procurement best practices for buyers is to engage with service providers that help to boost the data security for healthcare providers related to medical transcription. Buyers must look for service providers that engage with third-party IT providers that can help to boost the data security for healthcare providers while procuring medical transcription services. Additionally, suppliers need to ensure that they integrate data security applications during storage and transmission of data through cloud systems and during transmission of transcribed data between the buyer and the supplier. For instance, buyers need to look for service providers that have collaborated with IT service providers such as Siemens and Intel that provide advanced encryption standards for healthcare applications.

Medical Transcription Services - Procurement Challenges

According to this procurement research report, one of the key procurement challenges faced by buyers is the lack of transparency regarding the end transcriber for a report. Buyers do not have information about the personnel that is performing the task. This is because minimal data is shared with the buyer about the personnel translating their reports. This makes it difficult for buyers to obtain assurance regarding data security during outsourcing the medical transcription services.

To overcome the challenges, buyers must include a clause in the SLA regarding sub-contracting terms.

 

Medical transcription services are used to convert recorded medical files to accurate data files in a required format. The recorded voice files by the physicians are converted into data files by the medical transcriptionists. This upcoming procurement research, which is part of SpendEdge’s pharma and healthcare category, would provide actionable insights on the pricing strategies, market drivers, procurement best practices, and the supply landscape for the global medical transcription services market.

Category overview of the global medical transcription services market

Based on the type of report to be provided, medical transcription services can be classified into consultation reports, history and physical reports, discharge summaries, and operative reports.

Additionally, this report would also consider the market segmentation based on the geography into segments such as:

  • North America
  • South America
  • Europe
  • MEA
  • APAC

This upcoming procurement research on medical transcription services would provide detailed insights into the continuously evolving supplier landscape to help improve source-to-contract cycle performance. Moreover, it would help sourcing professionals develop enhanced category strategies, understand supplier and market challenges, boost savings, and implement sourcing best practices.

This report can be personalized according to your needs. Contact us now!

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PART 1: CATEGORY AT A GLANCE

  • TAKEAWAY 01 | Market Overview
  • TAKEAWAY 02 | Demand and Supply Snapshot
  • TAKEAWAY 03 | Key Market Dynamics
  • TAKEAWAY 04 | Supply Market Highlights
  • TAKEAWAY 05 | Pricing Insights
  • TAKEAWAY 06 | Procurement Insights

PART 2:  SCOPE OF THE REPORT

  • Category Definition
  • Research Methodology

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Category Maturity by Regions
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Other Prominent Suppliers by Region: Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Other Prominent Suppliers by Region: Functional Capability Matrix
  • Key Clients/Partners
  • Supplier Cost Breakup
  • Supplier Positioning Matrix

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Models – Pros and Cons
  • Indicative Pricing

PART 6: PROCUREMENT INSIGHTS

  • Major Category Requirements
  • Major Procurement Pain Points
  • Category Sourcing Evolution Matrix
  • Procurement Best Practices
  • Cost-saving Opportunities
  • Supplier Selection Criteria
  • Category Negotiation Strategies
  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis

PART 7: TOP FIVE SUPPLIERS

  • Nuance Communications
  • MModal
  • iMedX
  • Acusis
  • nThrive

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us

Research Framework

SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary research

  • Procurement heads
  • Category managers
  • Sourcing consortium professionals
  • Industry experts and thought leaders
  • Procurement managers
  • Category heads of suppliers
  • Client account heads/managers
  • Client and industry consultants

Secondary research

  • Industry journals and reports
  • Periodicals and new articles
  • Category webinars
  • Internal categiry playbooks
  • Industry and government websites on regulations and compliance
  • Internal databases
  • Industry blogs/thought leader briefings

DATA ANALYSIS

SpendEdge INSIGHTS

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