WaveScribe International Corporation is a national and international dictation and transcription product and service solutions provider for the document production / transcription industry. WaveScribe has several divisions to address industry-specific demands for such specialties as Healthcare, Med-Legal, Education and Entertainment.
WaveScribe offers the first web-based transcription software that was designed, developed, and deployed by transcriptionists. Documents created through
WaveScribe have a 128-bit security encryption, HIPPA and Privacy Law compliance. Access to a medical or legal transcribed document for editing, reprints, updates, 24 hours a day in a simplified and cost-effective manner to handle the task of document control is now available. The WaveScribe platform requires no software to purchase, and installation on to a specific PC is not needed. The
transcriptionist utilizing the platform can use several methods to create documents such as uploading existing documents and/or formats while maintaining the
traditional methods of transcription such as analog tapes, digital tapes, handheld devices, phone in rerecorded or pushed and even computer generated methods. In addition, future advances include speech-to- text and net/web (documents created on a private network automatically stored and accessible on the internet platform)
"The future of word processing/document production will require no software, no installation, no upgrades and will be easy to learn. Documents will be databased and searchable. Access to files can be limited to an individual or given to staff anywhere in the world. Production groups can create documents from handwritten paper or varying dictation sources. It will be an internet-based platform with documents available online. It will change the way we create, access, edit, manage, and archive volume documentation," says Wavescribe President Cris Bahar, "and we believe that the Wavescribe software reflects this future."
"MT's love using WaveScribe because they find it easier than ever to access voice files thereby increasing their productivity and their income," added Wavescribe President Cris Bahar. "Transcription companies and End User Clients love WaveScribe because it gives them unprecedented control of their transcription process and total accountability."
Because of demonstrated need for this type of product and the shortcomings of current industry services and methods, the target markets for this application are broad, extensive and lucrative and include the medical, legal, research, entertainment, and educational industries; anyone that works with a large volume of documents. Transcription services offered across a broad spectrum have included web conferences, special events, speeches, corporate meetings, business plans, lectures, interviews, resumes and educational documents. The size of individual target markets varies significantly, however, as an example,the medical transcription industry is estimated at approximately six billion dollars, and the legal transcription industry is estimated at more than twice the size of medical. WaveScribe International (Pink Sheets: WSBL), providers of on-demand Internet word processor WaveScribe, continues to emphasize the importance and size of the medical transcription market. Recently, speech recognition solution provider ScanSoft (NNMS: SSFT) acquired the transcription platform provider MedRemote in a deal valued at more than $12 million in stock and cash.
The healthcare industry spends approximately $15 billion annually on transcription production. WaveScribe understands the magnitude of this and seeks to capture at least 1% of this growing market, translating into at least $150 million in annual revenue. WaveScribe President and CEO Cris Bahar stated, "We understand why ScanSoft would make this move. It's a natural course for them to pursue and validates what we have said for quite some time. WaveScribe continues to stress the importance of the medical transcription industry in our on-demand world. Hence, WaveScribe's on-demand word processing platform and services encompass the medical transcription industry in addition to other fields that require mass document processing such as general business, legal and lectures on a global basis rather than only U.S. based."
WHY INVEST IN WAVESCRIBE CORP.
We believe WaveScribe has gone unoticed by Small Cap Investors. The Share structure, technology, management and potential revenues of this company make this stock extremely undervalued. What should this share price be? The value of this company is hard to calculate at this time, but considering the above factors, we feel that this stock should be trading in the .50 range. We consider WSBL to be a tremendous OTC Bargain.