Medical transcription school opens its sixth branch in a year

     According to local industry estimate, the Philippines has not even closed one percent of the global medical transcription industry pegged anywhere between $10 to $20 billion and with an annual compounded growth rate (CAGR) of 13%.

     The sixth training school is operated under a franchise agreement by the Diliman Computer Technology Institute (DCTI) in Quezon City. MTC owned and managed its branches in Cavite City and in Aurora Boulevard in Cubao, Quezon City that is being considered to be relocated in another branch in Buendia Avenue in Makati City this month.

     Other franchise holders operate the MTC training schools in Cavite City and East Avenue also in Quezon City.

     MTC sales director Herbert J. Betz III said in an interview that DCTI churned out about PhP3 million for the franchise, a fee which covers the equipment and structuring of the medical transcription courses.

     MTC president Eugenio G. Gonzales said the amount is less than the average franchise fee since DCTI already has an existing structure in place. An MTC franchise would cost between PhP4 million to PhP8 million.

     Mr. Betz said MTC is scheduled to open another branch in Batangas City next week. MTC branches in Alabang, Muntinlupa and Sucat, Parañaque will be operational in a month's time.

     MTC is also looking into expanding in Cebu City soon. Immediate expansion priorities include San Fernando, Pampanga, Caloocan, Manila.

     MTC boasts of its business proposition of 'sure jobs' immediately after graduation. Mr. Gonzales said they have about 19 company partners which absorb around 90% of the 500 new graduates from their training schools.

     Meanwhile DCTI president Maline A. Flores said in an interview that offering the medical transcription course would sharpen their competitive edge in a market dominated by computer schools such as AMA and STI. They are also planning to include short courses on call center in their curricula.

     The DCTI-MCT initially targets to get 35 students on its first batch of medical transcription students.

     Some of the courses offered by DCTI are two-year courses on computer science, computer technology, office management, one year computer programming, computer repair and other short term courses.

     The medical transcription program targets high school graduates. It covers 18 months of training, non-medical course graduates which covers six to 9 months of training and classes for medical graduates which can run up to three months.

     A medical transriptionist, depending on his transcription skills, can earn from PhP35,000 to PhP75,000 a month.