What Are Realistic Earnings For Medical Transcriptionists?

When you're looking at a new career, one of the big things you want to know is how much you can earn

. It's a large part of how you figure out if a job is worth taking, or in the case of medical transcription, worth training for.

How much are medical transcriptionists paid for their work?

This is hard to say with precision because at home transcriptionists are usually paid on production. I can say that the U.S. Department of Labor gives the average hourly earnings of medical transcriptionists as $15.41 as of this writing.

That doesn't mean a whole lot. After all, average means many transcriptionists earn more and many earn less.

When you're first starting to work as a medical transcriptionist after graduating from a good quality medical transcription school, your earnings will be on the low side as you get used to the real work. Some people even start out a bit below minimum wage at first because they aren't fast enough to earn good money. If your training was any good and you really worked at it, this phase should be very short, if it happens at all.

Your pay rate should increase steadily in your first few months on the job. You're being paid on production after all, so the increases in speed that happen as you gain experience will increase your earnings, no pay raise from your employer required.

Can You Increase Your Earnings?

There are tools that will help you to increase your earnings. Sometimes employers will provide them, other times you will need to provide your own.

The best is word expansion software. With this software, you can type a few letters and your word processor will expand them out to a whole word, sentence or even an entire paragraph.

This is extremely useful for phrases that come up often in medical transcription. As you become more experienced, you can add your own expansions to the software so that the phrases you deal with on your own are in there in a manner you will remember to use.

You can also get occasional raises as a medical transcriptionist. Not everyone gets paid the same per line rate. You will probably start at the bottom offered by the company, and get raises as you prove that you produce quality work.

Some companies also pay a premium if you pass the test and become a Certified Medical Transcriptionist. You can only do this after a minimum of two years of acute care transcription experience or equivalent; this is not for new graduates. If the company you work for doesn't offer anything extra for this, you may be able to find another employer who will appreciate the certification.

by: Stephanie Foster

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