The entry of a large number of players, who had neither an understanding of the processes involved nor the patience and long-term commitment to see the business through, was a primary reason for widespread failures in the field, which resulted in degradation of the perceived image of the industry.
However, over the few years, the picture changed. The serious players consolidated their positions and gained from their experience. The last two years , particularly, saw almost all the majors announcing ambitious growth plans.
In Hyderabad, the medical transcription community came together over a year back to form an association to share resources and information and to promote understanding of the business.
The Indian Association of Medical Records Services (IAMR) is an alliance of several leading companies in the field of medical records services, most of them from Hyderabad and other cities in Andhra Pradesh.
According to Alok Singh of VasantScribes, twenty of the largest businesses from Hyderabad and other cities came together to form IAMR, while being actively supported by several other companies.
Ramakrishna Tummala, the president of IAMR and MD of Worldtech, said:
