Prudential Consulting Inc. (PCI), an Ontario-based medical transcription company, is expanding its business in Nova Scotia. The company plans to create up to 70 new jobs over the next five years. The province, through Nova Scotia Business Inc. (NSBI), is supporting the company’s expansion with a payroll rebate set at a maximum $590,400. It is an earned incentive tied to the company achieving hiring targets. “Nova Scotians are looking for flexible and quality job opportunities,” said Economic Development Minister, Angus MacIsaac. “Because of its unique operating model, PCI can draw talent from across the province, so Nova Scotians can live and work in their own communities.” Qualified medical transcriptionists will be able to log in through a remote, secure workstation network, so they can work from home via a high-speed Internet connection. Prudential Consulting Inc. has strict policies to ensure confidentiality. The company’s equipment does not enable any storing of patient data and blocks open Internet access. Prudential Consulting Inc. provides health information management services for hospitals in Nova Scotia and across the country. “I attended university in Nova Scotia, so I’m very excited to be expanding Prudential Consulting’s business operations in this province, my second home,” said CEO Vikram Khurana. “Our home-based medical transcription service provides employment opportunities for people from the comfort of their homes, which is ideal in today’s working environment.” The company’s employees are trained to work with secure and anonymous patient information, transcribing dictation from doctors for an electronic file that becomes part of the patient’s record. Electronic documentation is part of the improvements taking place in the health-care system so accurate patient files can move away from hard-to-access paper files. “The health-care-services sector is growing rapidly,” said Stephen Lund, president and CEO of Nova Scotia Business Inc. “And while we recognize that these are turbulent times, PCI’s expansion is proof that Nova Scotia maintains its competitive edge — it’s our people and technology infrastructure.” Headquartered in Toronto, Prudential Consulting Inc. (PCI) is one of Canada’s leading software as a service providers. From locations in Canada, the U.S., the U.K. and India, PCI provides dictation, speech recognition, transcription and report distribution services that integrate with most health information systems. PCI also offers outsourced transcription, training and consultation services to its clients. Through its service offerings, PCI helps hospitals, clinics, physicians and healthcare organizations become more productive, thereby improving the quality of patient care. For more details, visit www.prudentialconsulting.com . Nova Scotia Business Inc. is Nova Scotia’s private-sector-led business development agency. NSBI is the investment attraction arm of the province and helps businesses in Nova Scotia meet growth potential through advisory services, trade development, financing and venture capital.
“Service sector employment will remain the most dynamic with respect to job creation in the next five years,” said Raymond Torres, a head researcher of the International Labour Organization (ILO) in a statement released today. The ILO’s Economic and Social Outlook, released earlier this week, found that public services in health care, education and administration will also continue to be a major source of employment. While increasing at a slower pace than the private sector, they will still represent 15 per cent of total employment. Industrial employment is expected to stabilize globally at slightly below 22 per cent because the pace of job creation in the construction sector is estimated to decline in comparison to the period 2010-2013. Meanwhile, employment levels in manufacturing will remain largely unchanged over the next 5 years and will account for only 12 per cent of all jobs in 2019.The good news is that there is also growing demand for jobs that require face-to-face interaction, such as in health and personal services, signalling the emergence of a large care economy.“These trends highlight the role of policies to help enterprises and workers seize the opportunities associated with new technology, while at the same time breaking barriers for moving up the economic and social ladder, especially for women,” said Mr. Torres.But global trends show significant regional variations, with medium-skilled jobs disappearing in advanced economies at a faster pace than is the case in emerging and developing countries.This polarization between higher and lower-skilled jobs is having a direct impact on labour incomes. The increase in jobs at both the lower and upper ends of the skills ladder, at the expense of those in the middle, has and will continue to contribute to widening income inequality. The number of routine jobs, such as machine operator or assembler has decreased in many countries, raising concerns over the role of manufacturing in helping workers to escape poverty.Without manufacturing jobs, opportunities for rural workers to improve their employment situation will be scarce. This shift of employment to services and a decline in manufacturing means a significant change in the skills demanded by the labour market. “There will be a hollowing out of jobs needing medium levels of skill for routine tasks that can be automated,” said Mr. Torres. People who once occupied these jobs will need to acquire new skills, or instead, face the prospect of competing for jobs at the lower end of the skill spectrum, he concluded.