Medical transcriptionists are inevitable part of a health care industry. They are the people who convert the verbal dictation of the health care provider into written text, which finally becomes the permanent medical record of a patient. These records are used for future references and to communicate the patient’s medical condition with the other doctors on need basis. Medical transcription is one of the ten fastest growing health care careers in the current world. Medical transcriptionists enjoy a better salary when compared to the other allied health care careers.
How much can I earn as a medical transcriptionist, is a common question that pops up in every aspiring medical transcriptionist’s mind. Estimating the salary of a medical transcriptionist is very difficult as it depends on various factors. The salary of a medical transcriptionist is tailored according to his/her individual circumstances, skills and various other factors.
Skill is one of the important factors that decide the salary of a medical transcriptionist. Skill is usually directly proportional to the level of experience. That means, as a professional gets more experienced, his/her skill also increases. Medical transcription needs a specialized skill and is not possible for everyone to understand the medical terminologies and jargons. Medical transcriptionists who are experienced in this field master the skill on their job. Skilled medical transcriptionists can handle the job more efficiently with fast turnaround. However for a newbie, it is almost impossible to transcribe the medical dictation into written document. Hence all aspiring medical transcriptionists are advised to get trained from an accredited school, which provides the skill required to perform the job of medical transcription. The salary of a medical transcriptionist increases with the years of experience.
Training is another important factor that plays a major role in the salary of a medical transcriptionist. Formal training courses for medical transcription are available in traditional schools like community colleges and vocational colleges as well as on the internet. Training from an accredited institute helps the candidates in finding a job. Training courses provide the students either a diploma certificate or an associate degree. Salary of a medical transcriptionist depends on the level of education he/she has. For example, salary of a medical transcriptionist with associate degree is comparatively better than a diploma holder. Medical transcriptionists who are certified are experiencing great demand by the employers as they have a proof to show their qualification. Certified medical transcriptionists earn more salary than non certified professional.
The type of organization also matters in deciding the salary of a medical transcriptionist. Medical transcriptionists usually work in hospitals, physician’s office and medical transcription companies. Those who work in large organization are paid more than those who work in small medical practice. Medical transcriptionists even have the flexibility of working from home. They do so as independent contractors, taking up transcription job from various hospitals and other health care facilities. However, to work from home, medical transcriptionists should have few years of experience working on site and also should have a good customer base. Those medical transcriptionists, who fly solo have the flexibility of taking up multiple projects at a time and thus can increase their annual income. However, medical transcriptionists, who work from home do not get the employee benefits and have the risk of project termination.
Geographical region also affects the salary of a medical transcriptionist. Medical transcriptionists, who work in bigger cities earn better than those who work in smaller cities. Medical transcriptionists are usually paid depending on the hours of work or based on the number of lines they transcribed. As per studies, an entry level medical transcriptionist’s salary ranges from $12-$14 per hour. The median hourly earnings of medical transcriptionists range from $12-$17. The highest salary of a medical transcriptionist can go as high as $21 per hour.
Medical transcription is a stable job that helps to bring home a descent salary. Any professional with self motivation and detail orientation can definitely succeed in this field.
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