By: Deborah Johnson Wood
Wayland-based SOAP Transcription Services, Inc. recently opened a new training center in Holland. With that opening comes the opportunity to train and hire 50 medical transcriptionists. The company hopes to train and hire another 50 in 2008.
All of this is due to tremendous growth in the company since 2006, which generated 50 jobs and increased revenue 47 percent.
Medical transcription is a $25 billion business. The Department of Labor predicts an 18 percent to 26 percent growth in the industry. Part of the growth is because HIPAA regulations require all hospitals to convert medical records to digital format. Another reason is the country's aging population, which will create more medical records.
In addition, there's a shortage of 50,000 qualified transcriptionists. Many US companies are outsourcing to transcriptionists overseas.
"We don't want to do offshore transcription, so we need to keep training people," says Kim Naik, director of operations. "We really want to employ people in Michigan."
The company could only train about six people at a time at its Wayland offices. The new training center at 370 Country Club Road will accommodate 30 trainees.
Graduates will have the option of working for SOAP. They will work from home and will receive ongoing training and support.
Workers are paid by the line of type and might only earn minimum wage at first. As production increases, most will average $13 an hour, with some earning over $25 an hour.
SOAP will hold informational sessions at the new facility on October 8 at 10 AM and 6 PM, and October 10 at 2 PM and 6 PM. Classes will begin November 5.
Source: Kim Naik, SOAP Transcription Services, Inc.; Jason Spaulding, Lakeshore Advantage
Deborah Johnson Wood is development news editor for Rapid Growth. She can be contacted at [email protected].
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