Yes, you can use an older Philips SpeechMike II with the New Dragon Medical Practice Edition.  Make sure that you’re running the latest version of the Philips Device Control Center (v2.8 build 260).  Otherwise, the microphone will automatically turn off when being used. 

Click Here to download the Philips Device Control Center v2.8 Build 260

Verification Source: In house testing

Test Date: 10.3.11