What Can I Make In Salary as a Medical Transcriptionist?
Want to know what the typical salary of a Medical Transcriptionist or medical transcriber is? Well in order to figure out how much money you might be able to make working as a Medical Transcriptionist, there are several variables you must mull over before taking that plunge. Being a Medical Transcriptionist can be a good career especially for work at home parent but you must make sure you get the proper training and equipment to make sure that you always remain competitive.
Medical Transcription is rated among the best careers in the current world. Most of the people are attracted to the medical transcription in that it has very flexible hours which fit in all schedules and they will have the ability to work comfortably from home. There are others who may want to put the excellent medical knowledge which they probably have acquired from the other fields into practice work but in just a new position.
In addition to having a high level of knowledge of human anatomy, pharmaceuticals and diseases, a medical transcriptionist does need a keen ear to enable decipher a doctors' recorded speech then successfully turn it into some form of meaningful medical data. We note that during the past decade, various types of technological advances have indeed made the medical transcription a career nicely ideally suited to working from home. This means rather that having to mess around with tapes&tape recorders, the doctors now have the option of recording their medical notes right on the digital recorders and then upload the audio files directly to the medical transcription company, which will then have to make them available to transcriptionists for download and transcribtion from their home based computers.
So What Type Do Medical Transcriptionists Typically Make In Salary?
Now that we have a large number of applicants entering this field, the employers have found the advantage of being choosy especially when doing an hire of medical transcriptionists. In this field pay or salary is not affected by a large degree, but after completion of the certification program you can get a big difference moreso when it comes to really having to get a job in of medical transcription, the salary negotiations are really hard especially when there is no offer for job, after all, it should be quite clear for all those who want high medical transcriptionist salaries to focus to the west.
The Medical Transcriptionist Salary when looked at from the State chart indicates that the state of California is right now in the lead, having a further closer look at the salary data on merit of location, the Medical Transcriptionist Salary ranked by city report indicates that that it's not hard to earn a high medical transcriptionist salary in several locations, the fact holds that quite a number of the states have a much less cost of living when compared to the others. For accurate analysis you may make use of the PayScale Cost of Living Calculator to make a comparison of both Cost of Living and the Medical Transcriptionist Salary Data for the several U.S. cities.
The following is a view of the average salaries for the medical transcriptionists taken from 3 discrete sources which are the official U. S. Bureau of Labor Bureau of Labor Statistics, Indeed job search, and PayScale.
Data According To The U. S. Bureau of Labor Statistics
Using the data from the U. S. Bureau of Labor Statistics, we notice that the range of the salary those who are involved in the medical transcription practice is $22,430 - $45,700. The estimates are taken out of the 2010-2011 Occupational Outlook Handbook. On average the medical transcription salary is $33,350. There are several factors which determine the salary range as shown next;
Industry- several industries have varying pay for the transcriptionists, we can easily rate their level in the industry by dividing them into employer type , empirical data acquired from the Department of Labor statistics indicates that the hospitals are the biggest employers, next comes in the the physician offices, various business support services, medical laboratories, and the outpatient facilities. The average wage taken by employer are; Business Support Services: $31,040, Physicians Office: $32,410, Outpatient Care Centers: $32,870, Hospitals: $34,480 and Medical and Diagnostic Laboratories: $38,680.The laboratories are most likely to be in need of certification, accredited education, and some more experience which would justify their higher salaries.
Pay by Hour or Line- Onemajor variable which affects the average salaries for medical transcription is the nature of their pay. In most instances many of the Medical transcription are not going to get paid by the hour, but by actual the number of the lines that they will have transcribed, this applies for the independent contractors, for the case of hourly jobs, they may receive some bonuses for extra production.
The pay for independent contractors as well as those who work for the transcription services are in most instances paid according to the production. Independent contract transcriptionists (WAHM) on average earn typically much more than the corporate employees. Its notable that they as well have bigger costs related to business operation, don’t get benefits, and are most likely than their counterpart corporate employees to be agree being let go when there is no work.
Payscale Average Salaries for Medical Transcription
According to this source, the salary is $21,611 - $34,050 per year, the estimated mid-point is about $29,182. These pay ranges are only national averages which are prone to variation depending on factors such as: experience in years , whether one resides in an urban or a rural area, the physical area or the geographical location, the scale of operation of the employer or transcription service and Training.
When you consider a job, its essential that you look at not only at the salary, but also in the other benefits that may come with the job. They may include, the time off that you can get access to in case you get employed, you need to factor them in when making any decision. The larger scale employers like the hospitals are most likely to give you more benefits.
Where Do I Go To Look For Jobs Once I'm Certified?
Indeed.com is a great place to look. The have salary data and also some great industry trend charts that may interest you. Try also careerBuilder.com, Monster.com, ODesk.com and look on work from home forums like Workplacelikehome.com.
What Are Some Things I Can Do To Increase My Medical Transcription Pay Rate?
Education is the main key to raising your salary in this field. There are Medical Transcriptionist certifications and advanced degrees for Medical Transcriptionists that will increase your salary and make you a more valuable employee. In this economic downturn, education is a key strategy for a successful career as a Medical Transcriptionist