A medical transcription salary can vary widely depending on your skills, experience, education, and work environment. There are some basic rules of thumb, but no set pay scales in the industry.
For medical transcription jobs from home, you have the potential to earn more than those who work for a company in an office or hospital environmental. You can pick and choose the highest paying jobs/contracts you are able to find.
Notice I said "potential!" There is absolutely no job security for the independent transcriptionist so you have to be out there promoting yourself and trying to win contracts to keep yourself working. Earning in this field depend on what you "bring to the table" in terms of skills, knowledge and experience.
A highly skilled medical transcriptionist can earn as much as $50,000 per year working full time as an independent contractor. Part timers can expect to make about half that on the average, depending on how many hours they work.
Some get paid by the hour, or even on a volume basis, such as by how many lines they transcribe. There is more flexibility in payment options for the independent transcriptionist, but again the downside is lack of job security.
For a medical transcription salary, hourly rates of pay vary again with education and experience. You should expect to have at least a certificate in the field if not a degree, and some practical experience. Hourly wages of between $18-$20 on the lower end and $30-$35 on the high end for a skilled transcriptionist is the approximate range.
Medical transcription is a valuable skill that can simply be a part time supplement to your main employment OR a full time job. Even though there is no job security in medical transcription jobs from home, you DO have more control over your work assignments and if you are experienced and skilled you will always be in demand.
Continuing education is a must, as well as acquiring new skills related to the field as medical information technology changes with the times. You MUST remain relevant in your field. This is the only form of "job security" that really matters!
The bottom line is for a medical transcription salary is this:
Self employed persons working medical transcription jobs from home will make more, as do those with advanced education and training. Experience and excellence will mark you as a person who will be in demand as the health care industry grows and evolves.
George Parigian Jr. is age 56 and has lived and worked in the Boston area all of his life. He is a 1978 graduate of Northeastern University, and a personal trainer. He writes and consults on the topics of antiaging, health, and exercise.
Visit his new Wellness and Antiaging Website at: http://www.age-better.com/
You can contact him at:
George Parigian Jr.
362a Highland Ave.
Somerville, MA 02144
617-666-0623
george362@comcast.com
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