Need some advice. My partner is from the Philippines (RP) and has a large family in Manila. They operate several successful businesses in the RP.
They are considering getting into the medical transcription business and service the USA medical transcription market. They have asked my partner and I to join their company and set up its USA operation. We would be responsible for setting up the Server and data network (dictaphones, software, computers, etc.).
We would market and administrate the service to the USA medical community.
Here’s the positives. My in-laws own several buildings in the RP so we have the facilities. Several members of their family are mid-level managers in local medical transcription
Companies. It was these managers that brought the proposition to my in-laws. These managers have a pool of about 30 MT’s that would join our new company.
On the USA side, I have extensive business experience in startups. One of my relatives is a high level software manager and would have no difficulty with the technical side. The capital Investment is small and no problem.
Now that you have a bit of background, I can ask my questions. What is the future of outsourcing of MT services? In general, is a RP based transcription company a good idea? Will Voice Recognition software impact the MT market?
I need to make a decision on if I want to participate in this new MT business.
Any opinions or advice offered will be much appreciated.
Thank You, Bantuay email is
bantuay@hotmail.com
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