Medical Transcription Rates

Medical transcription rates can vary depending upon expected quality and amount of work given. Usually medical transcriptionists are paid per line basis. The hourly transcription rates of medical transcriptionists can range from 10.25 USD who has experience of less than a year and can be up to 16 USD per hour for people with 5 or more years of experience which is as per the Pay scale website. Though this information is helpful, it is more general since at least fifty percent of medical transcriptionists will make less money than the figures and fifty percent will be taking more.

The good news about medical transcription is that it is similar to internet marketing. Some clients pay more for the same work while some clients might pay less. We should think in terms of people who have more money. Transcriptions involving insurance companies will yield more money and rates of transcription will be high. This is for medical legal transcription like personal injury and compensation for worker. People who can review medical records from history will get an higher pay of around 25 USD per hour.

For a beginner medical transcriptionist who is confused about the rate to charge for his medical transcription, there are some tips in this article to help them.

Research on Medical Transcription Rates

We shall generally have some rough idea about the medical transcription rates in our area through the Medical transcription course and by networking with fellow transcriptionists in our region. But we should do further research to be certain with the rates.

A good way to do this is to call a reputable company in our region and asking to speak with their owner or manager. We should be very professional and friendly in our approach and we shall be surprised how they are willing to help. We should make it very clear to them that we are just about to start transcription, and ask them for basic guidance.

We should also have in mind that rates which are charged by medical transcription company will not be exactly the amount we could charge since they shall work in bulk order or for particular client, but we can get a rough idea. Some people do not let out this information since they feel its personal to share such details. But many transcriptionists will give a rough idea about this.

How to Charge for the Transcription?

Usually medical transcriptionists charge per line basis. Though some medical transcriptionists charge per page, per audio hour or by character, charging per line is usual, this is good for doctors as well as the transcriptionists.

For beginners, it simplifies the things and they can get paid for how much lines they type. Usually the medical transcription rates can start from 6 cents per line to 10 cents per line. Some medical transcription charge per hour of work and they get from 10 USD per hour to 40 USD per hour based on their accuracy and years of experience.

Charging per lines is simple as calculation can be done easily using a software which counts the number of lines after finishing the job and we can invoice the client accordingly.

Charges per Line:

Charges for line can vary in different states and as per market medical transcriptionist can earn from 10 to 15 cents for each line. In Florida, the rate is from twelve to fifteen cents for each line. We should do some research online and ask the fellow transcriptionists before we identify the rate in our region.

Invoicing the Clients:

We should bill the client after getting mutual agreement regarding the medical transcription rate and signing a contract by them. Usually medical transcriptionists charge twice per month (generally on 1^st and 16^th of every month). They keep the records together and get paid during these 2 dates.