Leading global medical transcription (MT) company, CBay Systems plans to scale up its operations in India."We will double theheadcount in India in the next 18 months," said Mr Dinesh Kumar, Director and COO – India Operations, CBay Systems, after inaugurating its captive centre here on Wednesday.Now, it has 3000 captive seats with centres in Mumbai, Pune, Nagpur, Bangalore, Hyderabad and Vijayawada.In 2009, the company will be investing Rs 45 crore for creating 1800 new seats. He said the company has just completed two satellite units each in Bangalore and Hyderabad.
The new facility on 18,000 sq is located at Rathinam Technopark of Rathinam Techzone Campus, Eachanari. "In three months, the centre entailing an investment of Rs 11 crore will start functioning with 450 seats," Mr Kumar said.CBay plans to hire over 700 people in Coimbatore by December 2009 and reach a strength of 1500 employees over a year. The MT industry has a good presence in Coimbatore, with Spheris India, another large MT company already functioning.
"Coimbatore is hub for MT in South India and the city has very strong MT work force. Also, the proximity to Chennai and Bangalore is an added advantage," he added.Further, the presence of 27 engineering colleges, 72 arts and science colleges and 18 polytechnics in the city has encouraged the company to start its captive centre here. The city already has three established franchisee centres.The company is planning to tap the premium educational institutes in the city for training in medical transcription. "In an effort to induct fresh talent into our company, we will be extending our training program to several educational institutes," said Mr Kumar, adding, the demand for MT keeps increasing despite the global slowdown.Kumar said medical profession is globally recession proof and there is a good market for medical transcription business. "There is no price cut. Whatever contracts that have come for re-negotiations, we have been able to get nominal increase," he said.
The US healthcare outsourcing market is estimated to be US $12 billion and expected to reach around US $ 18 billion by 2010.CBay, which had completed 69.5% acquisition of MedQuist last year provides MT services to 1700 hospitals and a large number of physician practices in the US. It also provides transcription technology and services into the NHS (National Health Service) market in the UK.
Apart from captive centres, the company has franchisee centres spread across 42 centres in India and one each in Sri Lanka, Bhutan, Oman and Barbados.Recently, the company tied up with John Keels Group to start a small unit in Sri Lanka. "The Sri Lankan government is keen to promote MT profession," Mr Kumar said.