How Much Money Do Online Transcriptionists Make

How Much Money Do Medical Transcriptionists Make At Home?

Medical transcriptionists are responsible for converting a doctor's recorded voice memos into paper or computer recordings using transcription machines. This work can be done in a doctor's office, in a transcription office, or from home. Many medical transcriptionists work from home as teleworkers or independent contractors.

Winning method

Transcriptionists who are employees of a doctor or medical service almost always receive an hourly wage. Independent contractors or employees of transcription services are usually paid at the production level, e.g. B. per word, per line or per data record.

Entry and income increases

Career Step, an online medical transcription training program, puts the average starting salary of a 50 WPM typist working 40 hours a week, whether in the office or at home, at $ 24,960. The website notes that this varies a lot depending on your location, typing speed, accuracy, working hours, etc. It is recommended that home transcriptionists try to find their own clients and work independently for the highest income possible.

National income estimates

In 2008, a medical transcriptionist in the United States had an average hourly wage of $ 15.84, or an annual income of $ 32,960, according to the Bureau of Labor Statistics. This number includes both clerks and clerks in the office, but not self-employed transcriptionists.

The medical industry with the highest median income for medical transcriptionists consists of medical and diagnostic laboratories at over $ 18 an hour. The lowest medical The transcriptionist industry is supporting companies such as B. Billing, averaging $ 14.99 per hour.

State deviations

Massachusetts has the highest paid medical transcriptionists with an average hourly wage of over $ 20 an hour. The highest paid area for medical transcriptionists is the Bethesda, Gaithersburg, and Frederick, Maryland area, at over $ 23 an hour.

Services

Benefits depend on the medical writer's rating. If the transcriptionist is an employee, she may have real employee benefits such as health insurance, sick pay, vacation pay, etc. A part-time worker has these benefits less often. An independent contractor does not normally receive these. A portion of health insurance purchased from an independent contractor can be considered a business expense for tax purposes.

costs

Depending on whether the medical transcriptionist is an employee or an independent contractor, their costs may vary and the way in which the costs are handled may differ. For an employee at home, their expenses (excluding household items) are often paid for by their employer.

An independent contractor will generally have to bear all or most of its costs. Since she is considered self-employed, these items are deducted from the operating profit on her tax return. This deduction reduces the taxable income of a self-employed medical writer.

2016 salary information for medical transcriptionists

According to the US Bureau of Labor Statistics, medical transcriptionists earned an average annual wage of $ 35,720 in 2016. On the lower end, medical transcriptionists earned a 25 percent salary of $ 28,660. This means that 75 percent achieved more than that amount. The 75th percentile salary is $ 43,700. That means 25 percent more to earn. In 2016, 57,400 people were employed as medical typists in the United States.



Video tutorials:.