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Wednesday, August 22, 2007

Culbro, LLC Invests in Outsourced Medical Transcription Services Organization

Culbro, LLC., a U.S. based, family controlled private equity firm, announced today its investment in OSi LLC, a mid-sized medical transcription service organization ("MTSO"), headquartered in Jupiter, Florida. During its six year history, OSi has grown to become one of the top ten MTSOs in the US with 2007 sales of approximately $18 million. OSi clients include a number of prestigious acute care hospitals and clinics, including, among others, the Mayo Clinic, IASIS Healthcare, Ochsner Health System and the Mount Kisco Medical Group.

OSi was founded in 2001 by Andy Renfroe, Rowland Milam, Teresa Shadrix, and Peggy Doyle, all of whom are veterans of the medical transcription industry. The founders will continue in their present executive roles with Culbro representatives joining in a board capacity.

"As we got to know the OSi team," said Edgar Cullman, Sr., managing member of Culbro, "we saw the tremendous value they bring to their customers and we became enthusiastic to provide the capital and strategic advice to help them grow. We are also delighted to be working with a management team that brings integrity to everything they do."

Culbro, LLC is presently managed by members of three generations of the Cullman family and its partners have over 100 years of combined experience. Culbro provides advice and growth capital to its partner companies and invests in both the US and India. Culbro has previously invested in Goodlife Integrated Fitness Solutions, an India-based healthy prepared food delivery company doing business as Calorie Care. Culbro Corporation, which was managed by the Culbro members, had interests in a range of consumer and industrial companies. See http://www.culbro.com/.

Culbro's investment in OSi will result in what the managing partners foresee as a strong future for OSi. According to Andy Renfroe, CEO and managing partner of OSi, "Although Culbro will not be involved in our daily operations, having Culbro on our team will open the doors to new opportunities that would have otherwise not been available to us. It's definitely an exciting time for OSi and our entire team."

Teresa Shadrix, COO and managing partner of OSi added, "We are thrilled about Culbro's investment in OSi. Organic growth will continue to be our primary focus, but our partnership with Culbro allows for new strategic acquisitions and tremendous growth."

Website: http://www.culbro.com/

Source: PRNewswire

Tuesday, August 7, 2007

Medical Transcription Interview 1

Medicine Humor, Confidentiality, Home Business Medical Transcriptionists

There is “humor” in medicine. A medical transcriptionist should possess a lively sense of humor as he or she will hear much to laugh about in a typical day’s dictation. This type of humor is essential for remaining long term in the field of medical transcription. The comic relief afforded by the humor in medicine does not mean the transcriptionist is insensitive to the importance of the medical reports being transcribed. Laughter helps relieve stress in any profession or occupation and helps us to maintain a sense of balance and perspective.

If you have visited or been a part of a transcription office you most likely have seen a central “funny file” where the medical transcriptionists routinely note some of the misstatements, slips of the tongue and other bits of humor in medical dictation. Heaven forbid this to happen and remain a part of anyone’s medical record (excellent proofreading skills are essential), but sometimes the medical transcriptionist can produce some hilarious “funnies” as well, often called “bloopers.” Consider this one:

•The doctor dictates “senile cataract.” The Medical Transcriptionist mistakenly types: “penile cataract” instead. As she or he was happily typing along it truly sounded like “penile cataract” rather than “senile cataract.”

Of course, with skillful proofreading the mistake would be corrected, and the blooper would end up as an addition in the funny file. When coffee breaks roll around, this type of blooper provides a good laugh shared with colleagues. In fact, sharing a laugh with someone who understands the joke intensifies the fun of the error in dictation or transcription.

Now consider one such as this: A doctor dictated, “This is the second hospital admission for a 75-year-old white male who was found under the bed in his hotel room and was admitted to the hospital for evaluation of the problem.” In an otherwise normal workday, suddenly this type of a sentence sounding through your ear plugs of the transcribing machine can be absolutely hilarious and even funnier if you have other medical transcriptionists to share it with on coffee breaks or lunchtime breaks. And once again, of course, the sentence had to be edited for final copy of the medical record.

Most physicians know they are not “perfect” and will appreciate the transcriptionist’s medical knowledge, alertness and editing ability. Physicians sometimes dictate half asleep, in the middle of the night or after 14 hours of a long and tedious surgery. They are counting on the medical transcriptionist to be alert and, if necessary, to correct their mistakes.

And, oh I forgot to mention about the physicians who eat while they dictate or chew gum. Yes, some do this! A physician’s dictation can sometimes be as difficult to decipher as their handwriting on prescriptions and physician orders. Sometimes I would think they delight in nothing more than writing the first initial of their name and then a long line afterwards either going up the page or down the page or in a wiggly fashion.

In my first job I transcribed dictation from an orthopedist that could be quite “smart-mouthed” about anything and everything. He was an expert in his field and well respected.

In our office we had a procedure that if a doctor failed to dictate on a patient that was seen in his or her clinic, we had to place a note on the chart, asking the doctor to “try and remember” from that visit and dictate a note the next time he arrived at clinic, which could be a month later. I had the special opportunity to comply with this procedure with this one particular doctor.

I did dutifully as I was told and placed my note. At the end of the next clinic session, I will never forget his reply. Thank God he did not say it aloud to me! He wrote back on the same note saying: Dear Connie: Do you remember what you had for breakfast one month ago? I do not remember the details from this patient’s last visit here. Reschedule.

I might add here the other doctors dutifully complied with our request to dictate “something.” In the end, I concluded he actually was sweeter to me about this than his reputation with others had been. He was known to have very little patience with secretaries, clerical staff and medical transcriptionist. This incident has remained in my personal “funny file” for decades, I still laugh about this. He was a little bitty short man about my height with dark hair, quite handsome.

Actually I did remember what I had for breakfast because it was the same every morning. Obviously he had more choices than I did. I never had the opportunity to respond.

Medical Transcriptionist today can work in a variety of settings. Many are finding it mandatory to move into offices of their homes as hospitals and facilities find it is more cost-effective to do so.

Medical transcribers can also set up a home business with a select few or as many accounts as they can handle.

However, working alone is not always as ideal as you might think. You miss out on a lot, but then again, you can also gain a lot with no driving time and expense. There are pros and cons to both types of work environments.

If you find yourself in business alone or your facility has moved your medical transcription office inside your home, you can still find ways to share with other colleagues the little funnies you encounter during your work schedule.

Just remember the confidentiality rules and never discuss specific details or give the names of those patients who had bloopers (you caught and fixed).

This article is FREE to publish with the resource box.

© 2007 Connie Limon All Rights Reserved

About the Author

Connie Limon. Visit http://www.aboutmedicaltranscription.info to learn more about the unique and wonderful profession of Medical Transcription. Sign up for our FREE newsletters about this career choice. Visit Camelot Articles at http://www.camelotarticles.com for a variety of FREE reprint content for your websites, newsletters or blogs.

Friday, August 3, 2007

The Philippines' Awesome Outsourcing Opportunity

India's dramatic economic rise this decade, powered by its role as the back office of the world, has developing countries from Argentina to Vietnam scrambling for a piece of the action. With good reason: Researcher Gartner estimates offshore infotech and business-process outsourcing amounted to $34 billion globally in 2005 and could double by 2007.And the race is on in Eastern Europe, Latin America, China, and Southeast Asia to land jobs and economic growth by answering customer phone calls, managing far-flung computer networks, processing invoices, and writing custom software for multinationals from all over the world.

Though India continues to have a lock on most of this global business, that is starting to change. Even Indian outsourcing powerhouse Infosys (INFY) has started increasing staff in China and the Czech Republic this year, is exploring Latin America, and likely will eventually set up a base in Southeast Asia.

GOLDEN OPPORTUNITY. "Some of the countries like Philippines and Malaysia have done fairly well to leverage their unique skills and carved niches for themselves," said Infosys Chief Executive Officer Nandan M. Nilekani,in Singapore recently attending an International Monetary Fund and World Bank meeting.

Could all of this be a golden opportunity for the Philippines, long regarded as the economic laggard in Asia? This vast archipelago is starting to gain some traction on the outsourcing front. Chennai (India)-based OfficeTiger now has over a hundred people working in Manila on legal outsourcing for clients such as Dupont and expects to have nearly 1,500 by the end of 2007 (see BusinessWeek.com, 9/18/06, "Let's Offshore The Lawyers").

The Philippines raked in offshore service generating revenues of $2.1 billion last year, placing third behind India and China and slightly ahead of Malaysia. That's up 62% over the $1.3 billion it gained in 2004, and a huge increase from the start of the decade when the outsourcing industry in Manila employed just 2,400 people and the industry had revenues of merely $24 million.

LANGUAGE ADVANTAGE. The outsourcing sector currently employs over 200,000 people. That is still way behind India's 750,000, but Manila is catching up fast. The Business Processing Association of Philippines estimates the industry will chalk up 57% growth this year with total revenues of $3.3 billion and is on track to deliver nearly 48% growth in 2007 to $4.9 billion. "Business process outsourcing [BPO] is one of the fastest growing segments of our economy and a key plank of President Gloria Macapagal Arroyo's strategy to put strong growth drivers in place," says Philippine Cabinet Secretary L. Ricardo Saludo.

Consultancy A.T. Kearney, in its recent ranking of the most desirable global services locations which are competitive for business process outsourcing, ranked the Philippines fourth in the world behind India, China, and Malaysia—a huge change from being outside the top 10 three years ago. Philippines gets high marks for its large, educated talent pool and English language skills, though it lags some of the other locations in infrastructure.

Economists and analysts are startled by the Philippines' runaway growth in the sector. "The pace of development of the BPO [sector] in the Philippines has been impressive," says a recent report by U.S. investment bank Goldman Sachs. "Three years ago there was a question mark whether Philippines could develop some [outsourcing] momentum. Now it's a $3 billion industry."

WHITE COLLAR FORCE. Goldman's report also notes the outsourcing industry has begun to expand beyond the capital Manila into university towns such as Baguio as well as Clark (the former U.S. military base), Cebu, Dumaguete, and Davao. "It is clear that Philippines is now very much on the global map for outsourcing," the Goldman report said.

The recent growth spurt in the outsourcing industry in the Philippines has been fueled not by traditional low-value-added call centers but more higher-end outsourcing such as legal services, Web design, medical transcription, software development, animation, and shared services. Though call centers still form the largest part of the sector, the Philippines has begun leveraging its creative design talent pool, its large pool of lawyers, and its professionals in accounting and finance.

"Philippines as a country offers us a unique talent pool for outsourcing services in legal as well as design services," says Joseph Sigelman, co-president of India-based OfficeTiger, which was acquired by U.S. printing services giant R.R. Donnelley in April. The company chose the Philippines as the springboard for its legal services outsourcing and expects to make Manila the main center for "pre-media" outsourcing work, including desktop publishing, composition, typesetting, and graphic design.

FAMILIAR WITH U.S. Legal services were a natural extension of the outsourcing work the firm has been doing from its base in Chennai for years. "As an ex-American colony, there is cultural affinity and the legal system is based on U.S. law," says Sigelman, a native of New York. "In Manila, every lawyer seems to know what Roe vs. Wade was about. In Chennai, they may have some of the finest legal brains in the world but not everyone has heard about Roe vs. Wade or other key cases in U.S. Supreme Court." Most Filipino lawyers sit for U.S. bar exams and that gives Manila a leg-up over India, China, or Malaysia.

Design work is another place where Filipinos have and edge, according to Sigelman. He says he has found incredible depth of design talent in Manila; the kind of talent that is hard to come by in Bangalore, Hyderabad, or Chennai.

OfficeTiger's clients include large insurance companies, retailers, and publishers of books and directories. OfficeTiger is looking at Philippines operations to provide 40% to 50% of its total annual revenue growth over the next three to five years.

TALENT POACHING. Another factor working in the Philippines' favor is cost. In India, wage costs in outsourcing have risen 15% per annum over the past two years. This rise has outsourcing firms and clients looking for alternatives. With that in mind, the risk for the Philippines is that its relatively low office-rental and labor costs could also start to rise dramatically.

Already, heavy demand for office space, despite a boom in construction of new buildings, is causing upward pressure on rents. Companies that are expanding say costs are starting to escalate fairly rapidly. There are signs of a tight labor market, too. Excessive poaching of talent that was the norm in India a few years ago is becoming common in Manila as well.

New companies are offering "joining bonuses" to the most talented the day they sign up for the job. Many employees are given bonuses for finding new recruits. "It's inevitable that costs will rise but the Philippines is still a very competitive place for the sort of work we are doing," says Sigelman.

MONEY FOR TRAINING. Cabinet Secretary Saludo says the government is focused on developing human capital through education and training to keep a steady supply of talent for the outsourcing sector. Manila is also beefing up the telecommunications infrastructure, he says.

Chasing the outsourcing wave is a smart strategy for an economy such as the Philippines'. Compared with capital-intensive manufacturing, service businesses are cheap to set up, and can generate a hundred times more jobs per dollar invested. President Arroyo recently earmarked $10 million for new trainees in the outsourcing industry. Students interested in outsourcing jobs are given vouchers that can be used for tuition at vocational institutes.

Unless cost escalation gets out of hand or other infrastructure bottlenecks appear, the Business Process Association of Philippines projects that outsourcing in the Philippines could be an $11 billion industry employing 900,000 people by the end of 2010. That will put it close to where India is today. "Five years from now, there could be a lot of countries doing as much as India is doing today," says Infosys CEO Nilekani. "We are just scratching the surface in outsourcing and off-shoring."

Source: http://choiocampo.blogspot.com/2007/08/philippines-off-shore-site.html

Thursday, August 2, 2007

MxSecure, Inc., Leading Provider of Medical Transcription Services, Names Evelyn Abat as Country Manager for Philippine Operations

MxSecure, Inc., the leading provider of medical transcription services and software to health care clinics, names Evelyn Abat as the company's Country Manager for Philippine Operations.

Scottsdale, AZ (PRWEB) July 10, 2007 -- MxSecure, Inc. the nation's leading provider of medical transcription services to health care clinics, today announced the addition of a Country Manager to its Operations team. Evelyn Abat joins MxSecure in this newly created position and will be responsible for managing the company's offshore operations in the Philippines. Ms. Abat reports to Arlene Dicks, who oversees MxSecure's US-based medical transcription workforce as Director of Operations.

"Evelyn Abat is a well-known and respected leader in the Philippine Transcription Industry," said Colin Christie, MxSecure President and Chief Executive Officer. "We are very fortunate to have someone with Evelyn's extensive experience in managing medical transcription operations joining MxSecure. Evelyn will oversee the company's Philippine operations to ensure MxSecure's commitment to accuracy, on-time delivery and quality to its clients."

We are very fortunate to have someone with Evelyn's extensive experience in managing medical transcription operations joining MxSecure. Evelyn will oversee the company's Philippine operations to ensure MxSecure's commitment to accuracy, on-time delivery and quality to its clients.
Ms. Abat brings with her seven solid years of building and managing two of the Philippines' most reputable business process outsourcing (BPO) companies, leading their medical and healthcare document management services. She served as founding president of the Medical Transcription Industry Association of the Philippines, Inc. (MTIAPI) from its inception in 2003 through 2006 and as a member of the Board of Trustees of the Business Processing Association of the Philippines, Inc for the year 2006 - 2007. Evelyn was the first recipient of the Philippine Cyberservices Pioneer Awards for Medical Transcription in 2006, an award presented by the Commission on Information and Communications Technology of the Philippines.

Abat has post-graduate studies in Chemistry, Chemical Education and Business Management. Her experience extends from teaching as a university-level professor to management of multinational companies engaged in real estate, financial, retailing ventures and business processing activities.

About MxSECURE, INC.
MxSECURE, INC. is the nation's leading provider of medical transcription services in the healthcare clinic market - serving over 500 medical facilities nationwide in family medicine and all major specialties. The company's digital medical transcription and electronic document management system - MxTranscribe EHR™ - includes Internet-based access to files 24/7; online review and editing; single and dual electronic signature; key word search capabilities; distribution options - routing to network printers, faxing or secure e-mail; and detailed management reporting tools. MxTranscribe EHR™ is fully scalable to multiple clinic locations with no capital outlay required. MxSecure clients include individual and group practices, community health centers and multi-state clinics. The company also provides total transcription outsourcing solutions or overflow capacity to clinics. For more information see www.mxsecure.com.

source: http://www.prweb.com/releases/2007/07/prweb537335.htm