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Indian
Medical Transcription Is Back In The Pink
It was almost a cottage industry
in the 90's, only to lose steam in 2000. But if you though the medical
transcription (MT) industry in India is history, think again. Latest studies
reveal that it is raring to take off yet again. And this time, the future is
well chalked out.
When it took off in the '90s,
anyone with a little space and enterprise opened a unit in their living room.
Unfortunately, the boom didn't last and hit rock bottom in 2001. The reason :
Too many entrants lack of entrepreneural skills and knowledge of industry and
there are security issues. Many small players opted out.
But since 2004, the sector has
slowly but steadily worked its way up. Now, it generates revenues worth $195
million. The figure is expected to go upto $647 million by 2010, according to
ValueNotes. In fact, the study found that at present, India-based MT vendors
employ around 18,000 people; by 2010, the numbers will go up to 52,000. A
Nasscom study released confirms this move of the Indian MT industry. It says
India has 120 to 150 MT companies which earn an annual income of $220 to $240
million.
The ValueNotes study says that by
2010, work worth $860 million will be offshored globally. "While intense
competition has driven out hundreds of small players, several large players are
aggressively expanding their capacity through acquisitions. The industry will
witness further consolidation," says Neeraja Kandala, analyst at ValueNotes.
(Ref : The Times of India
dated May 30, 2006)
GE Investing $250
Mn In Infrastructure, Healthcare
General Electric Company (GE) is
investing $ 250 million in infrastructure and healthcare projects in India and
expanding its industrial and financial presence in the country. Infrastructure
projects are at the top of GE's agenda in India. In November 2005, GE announced
it was reinvesting all of its proceeds from settlement of the Dabhol Power
project - Valued at US $ 145 million in Indian infrastructure projects and in
equity stakes of projects sponsored by GE's strategic customers.
Speaking to the Bombay Chamber of
Commerce and Industry, Jeff Immelt, CEO of GE, said, "India is a market set to
realize its potential. The next ten years are critically important for Indian in
terms of infrastructure and economic development as the country progresses
towards becoming one of the largest economies in the world. Success will require
depth in areas where GE excels : infrastructure and technology."
GE will be a partner in Dr Naresh
Trehan's Medicity project, a world-class Integrated Healthcare Facility in New
Delhi. Beyond financial investment, GE will also provide end-to-end early
disease prediction, diagnosis and monitoring tools like advanced medical
diagnostics, Cathlabs, anaesthesia systems and partner in clinical research and
education programmes.
GE investments will lead to
future phases of co-operation where research, design, financing and service will
take place locally in India, by Indians and for the Indian market.
GE is focusing on developing new
products designed to meet specific Indian needs. For example, the "HF Advantage"
X-ray system was developed at the John F. Welch Technology Centre in Bangalore.
The HF Advantage is an affordable, general radiographic system providing
outstanding image quality and diagnostic precision, while creating a safer
imaging environment for patients and doctors with lower radiation doses. Another
example is a hybrid technology model developed at the GE Global Research Center
in Bangalore, which combines various forms of renewable energy to provide
customized power solutions based on availability of local fuel resources. This
is being used in GE's Rural Electrification Programme in India.
The John F. Welch Technology
Centre - US $ 80 million state-of-the-art facility that is home to 2,200
scientists, researchers and engineers is uniquely positioned to help GE realize
this goal. "We are privileged to have a terrific pool of scientists and
technologists and we plan to unleash their talent for the benefit of India and
GE in India," Immelt said.
(Ref : Chronicle Pharmabiz
dated June 15, 2006)
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