Article Manager posted on March 24, 2010 08:20
It might seem a bit odd, but medical transcriptionists are typically paid by the line. The pay earned per line can range from .07 cents to .13 cents. If that seems a little low consider this:
- Marlene transcribed a dictation report for Dr. Roberts that was 298 lines long. She's been working as a medical transcriptionist for 15 years so was able to command top dollar. In her case, it was 12 cents per line. Her total pay was $35.76. It took her an hour-and-a-half to finish the job.
- Danny just completed his medical transcription training and was eager to get to work. He took a part-time job at a local hospital earning $10 per hour. He is required to transcribe a minimum of 125 lines per hour with minimal errors to maintain his employment. If he succeeds then he'll be earning .08 cents per hour. Since he types at a speed of 98 words per minute with few errors, he should have no problem keeping up that minimum.
- Rudi is a stay-at-home mom who has not been employed in five years. She recently completed an online medical transcription course and took on a few freelance jobs as a medical transcriptionist. She had been employed as an executive assistance before. On her first job she quoted a beginning rate of .07 cents per line and transcribed 500 lines in three hours. She made a quick $35. She then decided to up her rate to .09 cents per line and took a job that took only 30 minutes. She knocked out 120 lines with no errors and earned $10.80, doubling her hourly rate. Her third job was a whopper - a full 1,500 lines of transcription and it took an entire day (8 hours of work, which she split up into two 4 hour days). She charged .11 cents per line earning $165. That's more than $20 per hour.
These medical transcriptionists know that you can make decent money if you know how to price your services. As a freelancer, you might have to take a few jobs on the lower end of the pay scale, but if you have the experience and skill then you can charge top dollar.
How are medical transcriptionists paid? Very well, thank you.