subject: What Are You Going To Earn As A Medical Transcriptionist? [print this page] When considering a new career such as medical transcription, an important consideration is how much you can earn. It's hard to imagine paying for training if you don't know that you can make a good living by it afterward.
Fortunately, a good medical transcriptionist can make a comfortable living. But it all depends on you and how productive you can be, especially if you expect to work from home.
Starting pay per 65 character line is often around 7 cents. That may not sound like a lot, but it can add up quickly. If you're good at the work, this pay rate can come out to anywhere from $10-20 per hour. It may be less in the early days as you ramp up your skills. The real world is always different from training, no matter how good the program you went through.
In work at home medical transcription opportunities, you will only rarely be paid by the hour. This is because the only way they know you are working is if you turn work in. Paying on production rather than hourly makes a lot of sense.
It's also motivation for you to improve your skills. Type faster and you earn more money without asking your employer for a raise. Not that you can't ask as your skills improve. Raises are very possible in this industry.
In many industries, it's not just the pay rate that matters. It's the ability to get benefits such as health insurance. Medical transcription is no different.
Not all employers will offer health insurance, even to full time workers. In large part this is because most are considered independent contractors and not employees. If you need health coverage for yourself or your family, take into consideration who offers these kinds of benefits.
The highest pay comes to those who choose to start their own business and take on medical transcription clients. This is because it's a lot of extra work. You have to handle everything. It's not the easiest thing, but not impossible for those with the drive to do it.
Running your own medical transcription business means getting all your own equipment. You need to know how to get the dictation from the doctor and return it to his office. You need to figure out your own routine for HIPAA compliance. You need to figure out how you're going to cope when you need a vacation.
It's not easy, but you can earn quite a bit more by running your own medical transcription business. You just have to decide what is right for you and your family.
