The Hindu Business Line : Spheris India may double headcount in Coimbatore

Aiming high
Spheris India is preparing itself to emerge as the largest player in the medical transcription space within the next 3 to 5 years.
The company is scouting to establish its presence in a third location, preferably in a tier II city next year.

Coimbatore , Dec. 18

Spheris India Pvt Ltd is preparing itself to emerge as the largest player in the medical transcription space within the next three to five years.

The company works with over 400 hospitals in the US. "While the medical transcription business volume is growing at 10 per cent, the number of medical transcriptionists in the US is falling by 10 per cent every year. There is, therefore, a dire need for the US to look to outsourcing this service. The industry is witnessing a 50 per cent year-on-year growth in India," said the CEO and Managing Director of Spheris, Mr Suresh Nair.

Doubling headcount

With about 2,500 people on its rolls at its locations in Bangalore (2,000) and Coimbatore (500), Spheris India transcribes about 300 million lines every year. The company is planning to double its headcount in Coimbatore by 2007.

Mr Nair was in the city to witness the employee outreach programme — `Spheris Family Day' — a get-together of the 500-plus Spherians and their family, celebrated for the first time in Coimbatore on Sunday. The company expends close to Rs 1 crore every year on such events to motivate its employees, their kith and kin.

In an informal chat with media persons, he said, "We are in a capacity-driven market. There is no shortage of work, but only capacity. We are seriously looking to build our capacity in India," he said.

Besides doubling its headcount here, the company is also scouting to establish its presence in a third location, preferably in a tier II city next year. "We intend to widen our reach by adding a centre every year over the next two years," he said.

Cash rich

And the company is not looking at strengthening its presence in India alone. "We are evaluating the Phillippines too, but it is still early," Mr Nair added.

The establishment cost of a unit has been put at $2.5 million and according to Mr Nair, the company is cash rich at this juncture.

He, however, conceded that currently hiring is the biggest challenge for the industry. "While the opportunities are huge, the conversion rate is pathetic. It is just about 6 per cent and the industry attrition rate is about 15 per cent," said Mr Surya V. Ciryam, Vice-President (Human Resources).

To bridge the gap, the company has initiated discussions with colleges in Bangalore and Coimbatore for running medical transcription training programmes. "We would possibly tie-up with two colleges (one in each of the cities) for imparting the necessary training. The colleges would give the necessary training with our support."

The company wants to ramp up at least 1,000 people out of such programmes every year.

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