Healthscribe is now Spheris India!
- From: "Abeille" <AbeilleDeSucre@xxxxxxx>
- Date: 11 Oct 2005 06:46:48 -0700
Subj: MTIndia Newsletter - Healthscribe is now Spheris India!
Date: 10/10/2005 11:39:25 PM Pacific Standard Time
From: amit@xxxxxxxxxxx
To: MTIndia@xxxxxxxxxxxxxxx
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Oct 08, 2005
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Healthscribe is now Spheris India!
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Dear Friends,
India's largest medical transcription company Healthscribe has been
rechristened Spheris India Pvt Ltd so as to formalise the takeover
late last year in an all-cash deal.
Spheris, the $200 million medical transcription major headquartered
in Franklin, Tennessee, USA, as a result of the takeover, became
the second largest medical transcription technology and outsourcing
services firm in the world with over 5,000 employees in the US.
Currently India was the source of nearly three per cent of the
offshore business of around 16 billion dollars and the opportunity
was tremnendous, Spheris President and CEO Steven E Simpson said.
Suresh Nair, CEO and managing director of erstwhile Healthscribe
will lead Spheris' business in India. It has set up a 300-seat
centre at Coimbatore.
Ciao!
Maj (Dr) Amit Chatterjee, SM
Strategist / Founder ~ mailto:amit@xxxxxxxxxxx
MT India ~ www.mtindia.org
"The Community of MT Professionals"
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NEWS AND VIEWS :
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1) Growth-based investments in India, says Spheris CEO
Leading medical transcription company, Spheris India Pvt Ltd, would
consider investing in India depending on the growth of the
industry, a senior company official said on Friday. Since only two
per cent of potential outsourcing of medical transcription from the
US and Canada, was sent to India, there was all the possibility of
investing more in the industry, which was growing at the rate of 10
plus per cent, Steven E Simpson, president and CEO of Spheris
Worldwide said.
Speaking to reporters after launching Spheris' new facility at STPI
IT Park in Kumaraguru College of Technology here, he said the
company has invested Rs 100 million in Coimbatore facility with an
area of 35,000 sq.ft and another 15,000 sq.ft would be added in the
near future.
Suresh Nair, CEO and Managing Director, Spheris India, who was also
present, said only 50 per cent of the US$12 billion business was
being outsourced at present and there was tremendous potential for
India to increase the business.
The industry as a whole was expected to grow by 50 per cent
annually, Nair said, adding the company has already recruited 300
employees for Coimbatore and planned to ramp up its headcount to
3000 from the existing 2000, by 2006. Considering the
confidentiality of the business, the company did not have any plan
to give jobworks or contract.
http://www.indiadaily.com/breaking_news/48161.asp
2) MedQuist Shareholder Derivative Suit Dismissed
MedQuist Inc. announced the dismissal with prejudice of a
shareholder derivative action filed in U.S. District Court in New
Jersey. The suit, Rhoda Kanter (Plaintiff) v. Hans M. Barella et
al. (Defendants), was filed November 12, 2004 against Koninklijke
Philips Electronic N.V. ("Philips") and ten current and former
members of MedQuist's Board of Directors. MedQuist was named as a
nominal defendant.
In a ruling dated September 21, 2005, the Court, the Honorable
Jerome B. Simandle presiding, found Plaintiff's allegations that
MedQuist's Board members breached their fiduciary duties to the
Company to be insufficient. The Plaintiff had alleged that for a
period from 2001 through 2004, the Defendants violated their
fiduciary duties by permitting artificial inflation of billing
figures; failing to adequately ensure accurate and lawful billing
practices; and failing to accurately report the Company's true
financial condition in its published financial statements. To the
contrary, the Court concluded: "Far from alleging facts supporting
a substantial likelihood of liability, Plaintiff here has painted a
picture of a board of directors that acted responsively given the
circumstances...."
Howard S. Hoffmann, MedQuist CEO, was confident of the outcome. "It
is the right decision, and certainly supports the actions of
MedQuist's Directors in fulfilling their responsibilities to the
Company."
http://www.genengnews.com/news/bnitem.aspx?name=1071084XSL_NEWSML_TO_NEWSML_WEB.xml
3) U.S. medical transcription firm Spheris says it is hiring more
workers in India
Spheris Inc. has already hired 300 people for its new center in
Coimbatore, in India's southern Tamil Nadu state, and plans to add
another 700 workers in the next year, the company's president and
chief executive, Steven E. Simpson, told reporters.
Workers at the Coimbatore office transcribe taped dictation of U.S.
doctors' diagnosis and advice for patients, saving the physicians
time and allowing them to treat more people. Spheris already
employs 2,000 people doing the same work in the southern city of
Bangalore - one of the hubs of India's outsourcing business - but
decided to expand to Coimbatore because of the city's large
untapped pool of skilled workers, he said.
"The city has a strong foundation in education and is inexpensive,"
he said of Coimbatore, a city of one million people 360 kilometers
(224 miles) south of Bangalore. Western firms have sought to cut
costs by farming out software development, engineering design and
routine office work to India.
But the influx of Western firms has led to labor shortages and
rising wages in larger cities that have become centers for the
outsourcing business, such as Bangalore and Hyderabad. In contrast,
wages in smaller cities have not risen nearly as fast and are now
about 30 percent lower than in traditional outsourcing hubs.
http://www.indiadaily.com/editorial/4860.asp
4) Acusis Announces New Sales Team Member
Pittsburgh based Acusis(R), a leading provider of medical
transcription services to hospitals, clinics and physician
practices is pleased to announce Bob Thomas has joined the Company
and will be responsible for sales and revenue generation for the
mid-atlantic and northeast regions of the United States. In this
capacity he will be working to identify marketplace needs of
potential customers with a Higher Standards(SM) of complete Acusis
medical transcription service offering solutions.
David Iwinski, Jr., Acusis President and CEO stated, "We are very
pleased to have Bob Thomas as the newest member of our sales team.
At Acusis, we have always placed a tremendous amount of effort into
the relationship we build with our customers starting with the
selling process, pledging to them valued service excellence in all
that we do." Iwinski further commented, "We pride ourselves on
having a consultative sales team with the highest integrity and
industry knowledge which allows us to deliver realized benefits as
a healthcare outsourcing provider partner. Bob will be able to use
his extensive health information management experiences to expand
our marketplace presence."
Mr. Thomas has spent his last 22 years as a sales consultant to the
healthcare industry for digital dictation, transcription, document
distribution, electronic signature, voice recognition software,
outsourcing, HIS integration and Internet technologies. He prides
himself in his ability to sell healthcare technology which is
valued by his customers and has been one of the top producers for
his past two companies. Thomas has lectured for various State
Health Information Management Association (HIMA) conventions, Seton
Hill University and to University of Pittsburgh Health Information
Management students. He is active on various Pennsylvania and West
Virginia HIMA convention committees.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20051005005428&newsLang=en
5) MD-IT Acquires ProMed Transcription
MD-IT, a developer of automated tools to assist physicians in
documentation of medical care, announced that it has completed its
acquisition of ProMed Transcription, a Colorado-based company
providing medical transcription services to physician practices.
Under terms of the agreement, ProMed owners will receive a
combination of cash and shares and will join the management team of
MD-IT.
The acquisition is the first of many planned as part of MD-IT's
strategy to provide Intelligent Transcription services. Intelligent
Transcription uses new technology to transform old services by
providing a full range of automated tools that enable fast and easy
document creation and exchange among physician offices, medical
transcriptionists and information systems, while retaining
personalized service to support individual physician preferences.
MD-IT will be adding state-of-the-art technologies, such as voice
and handwriting recognition, customized physician templates that
capture important patient data, and "dictation to database" data
exchange, to ProMed's transcription services performed by medical
transcriptionists.
While the US health care industry leads in scientific and
technology advances, most medical care is still documented using
hand-written notations, phone dictation and typed notes. In May
2004, then Secretary of Health and Human Services Tommy Thompson
remarked at the Health Information Technology Summit, "the most
remarkable feature of this twenty-first century medicine is that we
hold it together with nineteenth-century paperwork."
http://www.prweb.com/releases/2005/10/prweb293601.htm
++++++++++++++++++++++++++++++++++++++
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or post it on your site? Please do! But also be sure to read
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All original content of this newsletter is © Copyright 1998-2005
Mediweb Infotech Pvt. Ltd. All cited articles are copyright of
their authors and/or respective publications. Please feel free to
share this newsletter with your friends or post it on your site
as long as it is left intact with all links unchanged and this
notice.
Thank you for your interest in MT India!
The MTIndia Team
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