US Recession and Medical Transcription

Time has come for to realize that US financial crisis can affect Medical transcription industry too and will gradually effect transcriptionist wallet. As transcriptionist get paid by MT companies, and MT companies get paid by physicians, and physician get money from insurance companies or from the patients themselves.

The majority of patients don’t have insurance, then it depends upon how much cash do they have?

If the income were suddenly reduced or eliminated, are they prepared? I’ll tell you one thing; Washington does not have a “bailout plan” for you personally.

That’s definitely not going to happen. So there will be no “government lottery.” As hard as it might be for you to believe, there are people who aren’t worried at all right now, why? Because they have no debt! If they lost their income, they won’t lose their home, they won’t lose their cars, and many of them have enough cash to live on for quite a while. Okay, debt free and worriless living is a different topic.

So, what do you think? Kindly cast you vote on the poll……..

Medical Transcription And Economic Crisis

Will US crisis affect Medical Transcription?

THE financial meltdown in the United States and general slowdown in the world economy will impact negatively on the call center industry.

We should start preparing for the worst, as American companies that invested in call centers in the India might pull out their investments in the industry.

Where as the medical transcription industry is stable, those accounts servicing the financial or banking sector of the US may be in jeopardy. Medical transcription is one of the services outsourced by US firms.