Davao’s Transcription Sector Growing Stronger

Is the transcription opportunity a myth or reality? How many times have we heard doubts and anxieties expressed on whether the opportunities in this sector will still be around in the next few years? Will it go the way of other technical/vocational careers that promised jobs, only to find out that there is little available. And if there was an opening, it would cost an arm and a leg to cough up the placement fees.

Study the market potential, analyze the trends, look up projections, visit BPO websites and chat forums and you will learn that this is no MYTH! A healthy and robust growth is projected for the medical transcription industry. The target market share of the Philippines for 2008 is at US $110 Million. We need no less than 50,000 MT trained to meet the projected revenues. The transcription sector is seeing a huge growth potential not only in medical but other transcription specialty areas – general, business, legal, accounting, etc.

Davao’s transcription sector has grown from only 4 companies operating in 2006 to about 10 companies offering transcription service locally and globally. The transcription sector includes independent contractors or sole proprietors that serve clients directly or through a sub-contract agreement.

With increasing interest from Cebu and Manila to tap Davao for its human resource requirement, coupled with the continued implementation of the PGMA scholarship program, a definite upswing is seen in the demand for qualified and trained transcriptionists. Davaoenos are invited to join in the upcoming BPO HR Forum on June 11-13, 2008 and listen to leading companies talk about career opportunities in the transcription sector.

Written by: Wit Holganza - President of Transcription Alliance of Davao, Inc. (TADI)

Mindanao Transcription Players Meet With MTIAPI President Myla Reyes

MTIAPI and Mindanao's transcription education and service organizations in a round table discussion of challenges and opportunities last April 11, 2008 at MEDCo offices

Mindanao’s transcription players welcomed MTIAPI president, Myla Reyes and Executive Director, Raymund Eruma in a first-ever Mindanao-wide effort to gather issues and challenges faced by both medical transcription educational organizations and service organizations. Representatives from the cities of Butuan, Davao, General Santos, Zamboanga, Cagayan de Oro and Tacurong listened intently as Ms. Reyes presented key industry trends and developments. The optimistic forecast of growth for the transcription industry provided hope for Mindanao’s SMITEs who seek to become competitive players in the global arena.

“MTIAPI hopes to establish stronger branding, front-end awareness, and linkages with relevant international associations, as well as find partners and open up more business opportunities for our local MT companies. Furthermore, the Philippines is heavily promoting its medical transcription capabilities to the United States in a bid to raise its market share,” according to Myla Rose Mundo-Reyes, president of the Medical Transcription Industry Association of the Philippines (MTIAPI).

It was heartening to note that TADI (Transcription Alliance of Davao, Inc) shares MTIAPI’s desire to strengthen the advocacy for uplifting the quality and image of the MT career professional. Noteworthy suggestions also came from Cagayan de Oro to create forums where career professionals can generate leads and exchange best practices. Ms. Reyes cautioned though that any participant to these fora must practice responsible communication as perceptions of our foreign counterparts are strongly influenced by these exchanges. A majority of the players believed that the MT education platform must include values formation and other soft skills building programs.

With the growing shortage of medical transcription personnel in the US coupled with the increasing older population of Americans, the consistent offshore capabilities of the Philippines can propel us to become a dominant player in the future. And as the cost of doing business becomes more attractive in the provincial hubs, it makes more sense to explore the capabilities of Mindanao’s transcription sector.

(Published with permission from TADI President)

Davao strengthens push into IT with new transcription alliance group.

The formation of the Transcription Alliance of Davao, Inc. or TADI is seen as Davao's commitment to the growth of the information and communications (ICT) industry. TADI was established to spur the growth of ICT especially the operation of transcription services. Lizabel "Wit" Holganza, school administrator of the MTC Academy - Davao, largest TESDA-accredited medical transcription school in the Philippines, is TADI's first president while Fred Nadela comes in as vice-president.

ICT in Davao had an investment of 198 million pesos on 2005 and is targeted to grow to up to 1 billion pesos by 2010.

Read more in Sunstar Davao.