An Insider Breaks Down Medical Transcriptionist Average Salary: What You Need To Know

A lot of people want to know what the average medical transcriptionist salary is. It's not surprising that there are so many questions about this particular profession. If you take a moment to surf the web and look at subjects related to transcriptionist work, you will find that everyone has a different opinion.

How far you go in this career is up to you. Some people have chosen to work for a doctor's office at the medical facility and be provided hourly pay. That is what works best for them, but it is not the only option. Transcription is a different type of career because it allows you to make your own decisions about pay.

Not everyone makes the average salary. As a matter of fact, there really is no such thing as an average salary for transcriptionists. If you want to get technical, the estimated salary of someone in this profession is around 40K per year, but that is just an estimate. Some people only make $5,000 to $15,000 per year. Some of them do not have the time to invest and some are only looking for some extra cash.

On a more positive note, there are people in transcriptionist work who are also making as much as $100,000 per year, although this requires great devotion to their work. The truth is the more you work, the more you'll get paid. If you do not spend as much time working, you won't get paid as much.

As far as pay rates are concerned, there are plenty of variations. As you continue to research transcriptionist work, you are going to discover that there are people who are making $14.00 per hour, .06 cents per line and everything in between. Unless you choose to accept an hourly position, you will be paid by the line. Although there are some circumstances where transcriptionists are paid by the page, most people choose to be paid on a per-line basis.

And that is where average salary gets thrown out the window. Some of the most productive transcriptionists will experience slow days, so there really is no such thing as average salary. What you can do is set yourself a weekly or daily goal. Let's say that you plan to type at least 1200 lines per day at .10 cents per line. This will earn you $120.00 dollars per day. If you're typing five days a week, you're going to make $600.00 per week.

Let's also say that five years down the road you are now getting paid .12 cents per line and are now typing 1700 lines per day, five days a week. That's $204.00 per day and $1020.00 per week. Now let's look two more years down the road and assume that you have gained experience, increased your speed, and are now working on your own, charging your own transcriptionist work rates. Your probability for an even heftier paycheck is much higher.

When deciding your own rates, it is important that you find out what the going rates are for transcriptionists in your area. If you're charging too much, you won't be able to get any clients. Let's assume that .16 cents per line is the going rate in your area for transcriptionists who have at least seven to ten years of experience. If you're typing 2500 lines per day, working full-time, and charging .16 cents per line, you're going to make a whopping $400.00 per day and $2000.00 per week. Of course, you'll have to put some money back for taxes, but still, that is a lot of money to be working from home!

All you really have to do is realize your goals and apply yourself to them. Anyone can make big bucks from home, it's just more of a possibility in transcriptionist work.

--------------------

Susan Eliot