With the rise of digital, the transcription industry has witnessed significant growth that has drawn the interest across the business and academic spectrum. In this post, we’ll answer questions, both generic and specific, about transcription services that people ask world-wide.
Here’s a comprehensive list of those questions (we’ll be updating this post as we get more questions!):
Q. How Big Is the Global Market for Transcription?
According to data gathered by Transparency Market Research, the global medical transcription services market was estimated to be USD 41.4 million in 2012 and is expected to grow at a compounded annual growth rate of 5.6% from 2013 to 2019, to reach an estimated value of USD 60.6 million in 2019.
Q. Which Business Needs Transcription Services?
There is a virtually endless list of businesses (and organizations) that use transcribers. Here is a lengthy list that is far from complete:
Attorneys, Paralegals, Assistants Business Professionals, Entrepreneurs Civic Leaders, Community Organizers Counselors, Advisors, Coaches Educators, Professors, Teachers, Students, Support Staff Executives, Administrators Journalists, Editors, Authors, Writers, Screenwriters, Reporters Keynote Speakers, Program Producers Media Executives, Podcasters,Radio Personnel Office Managers, Project Managers Online Video Contributors, Video Editors, Producers Physicians, Medical Technicians, Holistic Practitioners Politicians, Government Liaisons Religious Leaders, Secretaries
Q. Are Humans Replaceable by Machines in the Transcription Industry?
A computer can hear and dictate spoken words, but only a human can listen and catch errors, edit, and format documents. The accuracy and intelligence of human transcription is invaluable to maintaining high transcription standards.
Q. Is Accuracy More Important Than Speed in Transcription?
In terms of transcription, accuracy is the most important, and speed is a close second. When looking for transcription services, it is critical to find a company that focuses on these two factors. A transcriptionist should provide at least 98% accuracy, as well as get the job done in a reliable, timely manner.
Q. Why is Confidentiality Adherence Crucial When Choosing a Transcription Company?
Confidentiality is a critical factor when choosing a transcription service company because an audio file often includes sensitive data. All transcription companies make their transcribers abide by a strict NDA policy. You wouldn’t want a conversation you had with your doctor or lawyer going public, would you? We take confidentiality very seriously.
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