With rapid shrinking of job opportunities, erstwhile transcribers leaving for greener pastures, ever reducing pay scales, disappearing job security, and companies large and small shutting shop at an alarming pace, the phrase “Transcription Industry” seems no longer justified.
Companies that couldn’t adapt to these huge market disruptions have fallen by the wayside.
Companies that did adapt, have struggled and are somehow holding on, but there still seems to be a significant amount of catharsis.
Things are not so hunky-dory anymore for Medical Transcription.
Employees have had to train, teach and get educated with the latest techniques and tools.
Employers have had to deploy software, monitor market trends and align company goals, improve security systems, temper revenue expectations, and even let go some of their valued staff as automation and operating costs keep eating into their profit margins.