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Medical Transcription Services Market Worth US$ 95.0 Billion By 2033, To Witness a CAGR Of 6.2% – Report By Fact.MR

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Rockville, Feb. 14, 2023 (GLOBE NEWSWIRE) — The global medical transcription services market was valued at US$ 49.0 Billion in 2022 and is expected to be valued at US$ 52.0 Billion in 2023. During the 2023-2033 period of assessment, demand is expected to rise at a 6.2value CAGR, likely to surpass a valuation of US$ 95.0 Billion by the end of the said forecast period. Increasing awareness of medical documentation and its implementation by many healthcare professionals, hospitals, clinics, and healthcare institutes is driving the growth of the medical transcriptional services market.

The growing launch of medical transcriptional services is expected to propel the growth of the medical transcriptional services market over the forecast period. Medical transcription services are high in demand owing to the increasing demand for effective solutions from various healthcare centers. Technological advancements such as voice recognition, artificial intelligence, and machine learning which are being widely used in healthcare technologies for the improvement of treatment outcomes and clinical documentation are the main factor driving the growth of the medical transcription services market.

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The medical transcription services market in North America accounted for the largest share globally and is likely to retain its dominance during the forecast period. The increasing demand for medical transcription services increased and the presence of leading market players in the region and technological innovations helping region’s growth.

Key Takeaways from Market Study

  • The global medical transcription service demand is likely to surge at a 6.2% CAGR during the forecast period.
  • North America dominates the global medical transcription services market, with a market share of 39% and registering a value of US$ 19.1 Billion
  • Based on service type, the consultation report segment will expand the fastest, accounting for a market share of 34%
  • By mode of procurement, the Outsource segment will remain most prominent, accounting market share of 47%

“Rising prevalence of the chronic disorder, increasing geriatric population and technological advancement in medical transcription procedures are projected to drive the growth of the medical transcription services market”, says a Fact.MR analyst.

Key Segments Covered in Medical Transcription Services Industry Report

  • By Service Type :
    • Consultation Report
    • History, and Physical report
    • Operative Note or Report
    • Discharge Summary
    • Others
  • By Mode of Procurement :
    • OutSource
    • OffSource
    • Both
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • Middle East & Africa

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Competitive Landscape

Examples of some of the market participants in the global medical transcription services market identified across the value chain include Acusis, Amberscript, Aquity Solutions, Caption First, Daily Transcription, Ditto Scribe, Eccellente Services Pvt. Ltd., EHR Transcriptions, GoTranscript, InSync Healthcare Solutions, Med-Scribe, MTBC, SmartMD, Voxtab, World Wide Dictation among others.

Leading market players are making strategic investments in technological innovation and R&D initiatives to increase service quality.  To achieve a substantial market share in the worldwide medical transcriptional services market and strengthen their position, service providers are pursuing expansion methods such as current developments, mergers and acquisitions, collaborations, and partnerships, joint ventures. Some of the development is as follows-

  • In March 2022 Aquity Solutions, a leading provider of virtual solutions for real-time clinical documentation, medical coding, and mid-revenue cycle offerings today announced the acquisition of Pittsburgh, PA-based Acusis.  The purchase expands Aquity’s scope of solutions to now include Practice Management, Tumor Registry, Medical Billing, and Collection services.
  • In February 2023 – CareCloud, Inc. announced the integration of Medicomp Systems’ Quippe Clinical Data Engine into its electronic health record (EHR) platforms, ensuring that patient- and problem-specific clinical data is available to physicians of various specialties at the time of patient treatment.

Prominent Players in The Global Market

  • Acusis
  • Amberscript
  • Aquity Solutions
  • Caption First
  • Daily Transcription
  • Ditto Scribe
  • Eccellente Services Pvt. Ltd.
  • EHR Transcriptions
  • GoTranscript
  • InSync Healthcare Solutions
  • Med-Scribe
  • MTBC
  • SmartMD
  • Voxtab
  • World Wide Dictation

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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the medical transcription services market, presenting historical demand data (2018-2022) and from 2023 to 2033.

The study divulges essential insights on the medical transcription market on the basis of service type (consultation report, history, and physical report, operative note or report, discharge summary and others), and mode of procurement (outsource, offsource and both) across five major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

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HER HIGHNESS SHEIKHA MOZA FORMALLY LAUNCHES QATAR PRECISION HEALTH INSTITUTE

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Institute builds on 10 years of genomics research to address the under-representation of the Arab genome and unravel a more representative map of the human race
DOHA, Qatar, May 1, 2024 /PRNewswire/ — Her Highness Sheikha Moza bint Nasser, Chairperson of Qatar Foundation, officially launched the Qatar Precision Health Institute, a national body aimed at leveraging the country’s advanced genomics research to accelerate personalized healthcare – leading to more precise treatments and improved health outcomes for people in the Arab world and beyond.

 
 
The Qatar Precision Health Institute builds on the groundbreaking work of Qatar Biobank and Qatar Genome Programme, uniting the efforts of Qatar Foundation’s research institutes to provide insights that reveal the effects of lifestyle, environment, and genetics on the Arab population.
Her Highness, Sheikha Moza bint Nasser, spoke at the formal launch event, emphasizing the importance of raising public awareness on the benefits of precision health. She said:
“I am proud that Qatar was the first country in the region to establish a population-based genome program, and has played a pioneering role in ensuring that Arab genomes are included in global genomic databases. Qatar’s efforts have led to faster and more accurate diagnoses of multiple diseases for people from the region. QPHI is building on those successes and taking our knowledge forward to implement clinical solutions that will lead to a healthier future not only for our citizens but for people around the world.”
Qatar Foundation’s work in the field of precision health led to the creation of the Qatari genome catalog, comprising more than 88 million variants, 24 million of which had never been reported previously in international databases.
Dr. Said Ismail, Acting President of QPHI, said:
“The Middle East is home to more than 400 million people, and is one of the world’s oldest inhabited regions, yet it is the most underrepresented in genome sequencing, as over 95% of available genome data comes from Western Europe and North America. Through research and clinical trials conducted at QPHI, we aim to improve the representation of Arab genomes in these datasets, empowering scientists to unravel the complete map of genomes that define the allelic spectrum of the human race, including Africa, East and Southeast Asia.”
QPHI will advance the study of the Arab genome through recruiting Qataris and long-time residents in large numbers, analyzing their biological samples, as well as information about their health and lifestyle. In doing so, it will make vital data accessible for researchers across the region and the world. Partnerships with leading global genomics institutes, including The Global Alliance for Genomics and Health, as well as the Health Institutes of Turkey will ensuring the transferability of discoveries, and strengthen genomics research on a global scale.
To date, Qatar Genome Programme has sequenced the genomes of over 40,000 Qataris or long-term Qatar residents, generating a wealth of data that has helped to inform diagnoses and treatments that have saved lives.
Through the use of precision medicine, a great number of diseases can be detected early, or avoided altogether. Interventions such as rapid genetic screening for heart patients has led to targeted treatment and a reduction in the number of days patients need to stay in hospital, while mandatory newborn screening through heel prick tests screens for over 80 disorders, giving doctors and parents the ability to detect treatable diseases before clinical presentation.
By seamlessly integrating cutting-edge research with clinical applications, QPHI will equip healthcare providers with the means to provide personalized treatment and elevate the standard of care while cementing Qatar’s position as a frontrunner in precision medicine on the global stage.
For more about Qatar Foundation, please visit qf.org.qa.
For more about QPHI, please visit qphi.org.qa
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ION LookOut named “Most Innovative Trade Surveillance Solution” at A-Team Innovation Awards 2024

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LONDON, May 1, 2024 /PRNewswire/ — ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates, announces that ION LookOut has been named “Most Innovative Trade Surveillance Solution” at the A-Team Innovation Awards 2024. 

The A-Team Innovation Awards recognize innovative projects and teams across the vendor and practitioner communities that leverage new and emerging technologies to deliver cutting-edge solutions for financial institutions in capital markets. The awards focus on data management, trading technology, ESG, and regtech suppliers whose contributions are advancing these areas.
ION LookOut, developed by LIST – an ION company, is a multi-asset trade surveillance solution used across multiple jurisdictions. Machine Learning for Alarm Classification (MLAC), ION LookOut’s AI-based assistant, helps compliance teams classify multiple alerts, reducing time and effort, and improving efficiency. MLAC optimizes alert management by learning from the past behavior of compliance officers. It helps reduce the workload of compliance officers while raising alarms for the necessary level of tracking activity. The automatic closure of low-profile alerts further streamlines the process, saving time.
“We are thrilled with ION LookOut’s win at the A-Team Innovation Awards 2024. The recognition reflects ION’s dedication to delivering high-value solutions that address our customers’ evolving needs,” said Alvise Insalaco, Chief Executive Officer: LIST.
“It’s an honor to have ION LookOut recognized for its innovative trade surveillance solution,” said Mirko Marcadella, Chief Product and Marketing Officer: LIST. “This award is a testament to ION’s unwavering commitment to push the boundaries of innovation and deliver solutions that empower our customers.”
Angela Wilbraham, CEO at A-Team Group and 4th annual A-Team Innovation Awards 2024 host, commented, “Many congratulations to ION for winning the Most Innovative Trade Surveillance Solution award in recognition of their achievement in delivering high levels of innovation to financial institutions. They should be deservedly proud of this accomplishment.”
ION LookOut was also named Best Solution for Record Retention at the RegTech Insight Awards APAC 2024 earlier this year, further demonstrating ION’s consistent track record of delivering award-winning products.
About ION
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their businesses for sustained success through continuous innovation. For more information, visit https://iongroup.com/ 
About ION Markets
ION Markets provides transformative technology and solutions to financial institutions dealing in asset management, cleared derivatives, equities, fixed income, foreign exchange, and secured funding. Our award-winning end-to-end solutions simplify clients’ operations by automating the full trade lifecycle, providing tools to manage risk, and maximizing access to liquidity, while giving real-time access to critical information required for timely operational decisions and execution on a global scale. For more information, visit https://iongroup.com/markets/ 
About LIST
An ION company, LIST is a leading financial technology provider to the global trading community, including trading venues, market makers, brokers, asset managers, risk managers, and compliance officers. LIST’s innovative turnkey products and delivery, driven by customers’ needs, play a key role in supporting successful business growth in today’s volatile times. Continuous innovation and client partnerships around the globe have built trust and reliance on LIST’sunique real-time and data analytics capabilities. For more information, visit https://www.list-group.com/.
About A-Team Innovation Awards 2024
The A-Team Innovation Awards celebrate innovative projects and teams across the vendor and practitioner communities that make use of new and emerging technologies to deliver high-value solutions for financial institutions in capital markets, with a specific focus on data management, trading technology, ESG and regtech suppliers. For more information, visit https://a-teaminsight.com/awards/a-team-innovation-awards/
All product and company names herein may be trademarks of their registered owners.

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Open ECX announces partnership with Medius to offer enhanced AP automation capabilities

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MANCHESTER, England, May 1, 2024 /PRNewswire/ — Following its recent launch into the channel market, leading e-trading solutions and Accounts Payable (AP) automation software provider, Open ECX, has announced a new partnership with Medius to provide their enhanced suite of advanced AP automation solutions. Open ECX’s statement reconciliation functionality together with Medius’s AP automation and fraud detection offerings offer organisations the ability to automate time consuming, error prone manual processes.

The collaboration will see Open ECX’s statement reconciliation functionality providing a true end to end automation for businesses looking to enhance their Accounts Payable (AP) automation and compliance levels.
Matt Rhodus, VP of Business Development & Strategic Initiatives at Medius, commented: “The partnership with Open ECX fills a void in our product offering with a statement matching and reconciliation solution that integrates with Medius’s AP automation platform. The expertise that the Open ECX team has in industries like construction means that customers get even more operational efficiencies in their financial operations.”
Open ECX is a leading provider of integrated business solutions, including e-trading, statement reconciliation and AP automation, and a pioneer in the P2P space. Its suite of products are designed to enhance operational efficiency and streamline AP processes through seamless integration, automation and innovative technologies, and are compatible with most finance systems used across a multitude of industries and use cases.
Charles Robinson, CCO, Open ECX commented: “At a time when businesses are demanding much more from their finance automation solutions, we’re delighted to be partnering with Medius. Our evolving suite of products have been designed to help finance leaders automate all transactions, while integrating seamlessly into their existing systems and processes. When combined with the power of Medius’ solutions, the partnership will add huge value to customers who are looking to take advantage of holistic, automated AP systems.”
For press information, interviews and images please contact the Open ECX press office:Sara Donnelly: [email protected]  T: 07495 090385Clare Wall: [email protected]  T: 07974 161127
For more information visit:  www.openecx.com 
For more information from Medius, please contact:Francesca Cahill (EMEA) at Fight or Flight, [email protected] / [email protected] +44 330 133 0985
For more information visit: www.medius.com 
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/medius/r/open-ecx-announces-partnership-with-medius-to-offer-enhanced-ap-automation-capabilities,c3971365
 

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