RP steps up bid to be hub for medical transcription
 By Lawrence Agcaoili TODAY Reporter

 The Philippines has stepped up its bid to become the hub for medical transcription outsourcing as it targets  major clients from the United States and Europe, the Department of Trade and Industry reported Wednesday.

 In a statement, Trade Secretary Cesar Purisima expressed confidence that the country could emerge as a  major player in the medical transcription industry market due to its abundant pool of qualified health-care  professionals. The Philippines has been supplying doctors and nurses, physical therapists, caregivers, and  other health-care professionals to numerous hospitals and health-care institutions abroad for many years.

 “We are an acknowledged provider of health-care professionals worldwide and now it’s time for the Philippines  to offer the foreign market its world-class services in medical transcription as well,” he said, adding that the  country churns out more than 30,000 professionals a year for the medical and allied industries.

 The medical transcription market in the US alone is estimated at $25 billion and provides job opportunities to  more than 400,000 medical transcriptionists. Offshore outsourcing is estimated to double in the next three  years to $4 billion with employment generation of 90,000 medical transcriptionists.

 The Board of Investments extends income tax holidays to registered companies engaged in the medical  transcription business. It has recently approved the P10.52-million project of Filipino-owned Pacific Global  Outsource Solutions to establish a medical transcription outsourcing service in Cebu, where it will employ 135  direct and indirect workers. It will start servicing medical institutions in the US, the United Kingdom and Canada  in January.