CBay opens new medical transcription training centre

EHM News Bureau - Mumbai

CBay Systems, a leading healthcare business process outsourcing (BPO) company based in the US inaugurated its 250-seater medical transcription training centre in Godrej Industries Complex in the city of Mumbai. The aim is to provide quality training, technology, vendor co-ordination, medical transcription and back office support for business development in India. The six- nine month training would be imparted on the basis of good aptitude in medicine, computers and American English.

V Raman Kumar, chairman, CBay Systems said, "Quality training is basic to medical transcription as it requires a high level of understanding of medical practices."

CBay, promoted by the investors- Godrej Industries, TDA Capital Partners and some large US institutions like Kingdon Capital, Baupost Group, Strategic Ventures Fund and GMO Capital, enables hospitals and medical practitioners to streamline transcription processing and management. A wholly owned subsidiary of CBay Systems, Ltd-USA, CBay is catering to the growing need for more efficient accurate and secure medical transcription with the advent of government regulations such as the Health Insurance Portability and Accountability Act (HIPAA).

CBay-India having a current revenue of USD 40mn, provides transcription and information management services to hospitals, integrated health care facility networks, medical clinics and physicians. "CBay appoints, develops, trains and supports the franchisee base of Medical Language Specialists (MLS) in India for CBay- US. It is targeting a revenue generation of US$100mn by 2007. We expect to achieve this by training and recruiting 10,000 people in another couple of years," said Kumar.

Donald L Conover, president, CBay Systems-US said, "There is an acute shortage of qualified MTs in the US due to demographic and economic reasons. India is the obvious destination to fill the void of over 1,00,000 MTs."

CBay Systems-US has offices in Detroit and Charlotte in the US and Mumbai, Bangalore and Hyderabad, in India. The company has already set up franchisees in Gujarat, Hyderabad, Bangalore and Chennai.

"The MT business is also opening up other avenues of employment like billing and receivables management. The remuneration offered is in line with the remuneration offered to any management graduate or post graduate along with sound personal and career growth," added Kumar.

Meanwhile, internal trends including budget cuts on capital expenses, staff reductions and the shortage of qualified MTs continue to mire the ability of hospitals to provide timely and quality transcription. Therefore the need to outsource medical transcription.

The MT market is estimated to be anywhere in the USD 16 billion to USD 21 billion.