Medical Interview Transcription Salary

Your medical interview transcription salary depends on several factors such as geographic location, certification, years of experience, and other variables.

Unless you are working at a doctor’s office or hospital as part of the staff, there is no real fixed salary for a medical transcriptionist. If you are in business for yourself, then your medical interview transcription salary will vary based on the amount of work you do and your skill level.

Many employers seek workers who have completed a medical transcription training program. As you become better and more experienced as a medical transcriptionist, then you will be able to work for higher pay, especially if you are a certified medical transcriptionist.

The method for paying work at home transcriptionists also varies. For example, you may be paid by the amount of lines that you transcribe or by the hour. There might also be a base pay with bonuses on production. If you do transcription work from home then you will likely be paid by the lines transcribed.

The Occupational Outlook Handbook, 2010-11 Edition, states the following about a medical interview transcription salary:

“Wage-and-salary medical transcriptionists had median hourly wages of $15.41 in May 2008. The middle 50 percent earned between $13.02 and $18.55. The lowest 10 percent earned less than $10.76, and the highest 10 percent earned more than $21.81.”

So if you are working full-time, with the median in hourly wages, you will earn a medical interview transcription salary of about $32,000/year. If you earn within the highest 10 percent of wages, then you would earn about $45,300/year. The average salaries for medical transcription is difficult to determine because salaries vary all across the U.S. and there are many medical transcriptionists who are independent contractors, so their ‘salaries’ are not included in these calculations.

Keep in mind that if you open your own medical interview transcription home business, then you will be able to work more hours if you choose to or you can work part-time to supplement your income from elsewhere. Also, if you are overextended on your work, then you may be able to sub-contract to other medical transcriptionists to help.

When considering your medical interview transcription salary when working on your own, you should also take into consideration the additional expense of being self employed. Taxes, business licensing, health insurance, transcription equipment, and the ability to maintain a pipeline of work does effect your bottom line, so your average salaries for medical transcription will likely vary from year to year.

In summary, your medical interview transcription salary depends on the following:

Geographic Location

Your geographic location or the geographic location of your employer or clients will be a factor in determining what your rate of pay will be. If your employer or client comes from a high socioeconomic region, then they will be used to paying a certain price for good service. Although, if you operate an interview transcription business from home then you are free to work with clients from all around the world and can set your own prices.

Education Level

Your educational background in medical transcribing will certainly play a factor in how much you are paid. Those with a degree and certification will be able to charge more than medical transcriptionists who have no formal education in transcribing. Although a lot of experience and skill can make up for having less education.

Years of Experience

The more years of experience you have, then the larger medical interview transcription salary you can expect. As an experienced transcriptionist, you will be able to type more lines or simply work faster than someone with less experience. Your growing knowledge of medical terminology or specialties will allow you to become well versed in medical lingo – giving you an advantage to those medical transcriptionists starting out who might still be reaching for reference books for guidance.

Type of Employer

The type of employer will also determine your rate of pay. Each employer or client may have a determined pay rate for their medical transcriptionists. Specialty doctors may pay more for medical transcriptionists who are familiar with their medical field. In addition, some clients pay bonuses for production.

Certification

If you take the required medical interview transcription classes, then you will have the opportunity to become certified in the field. Medical transcriptionist certification will allow you to earn a greater medical transcription salary.