Medical Transcription Jobs Salary
Medical transcription is an important part of the health care industry and provides people with the proper skills and training the ability to earn a living. The job of the medical transcriptionist is to transcribe the dictated notes and recordings of physicians and other health care professionals. Success in this field requires an understanding of medical terminology, the ability to type efficiently and strong writing skills.
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Average salary
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The average national hourly rate, as of 2010, for medical transcriptionists ranges from $12.14 to $16.62 according to PayScale.com. With the addition of bonuses, overtime pay and other incentives available, the average annual pay may range from $24,650 to $36,073. This will vary depending on the transcriptionists' years of experience, the industry in which they are primarily working, certifications and the state in which they are located.
How Experience Affects Salary
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Medical transcriptionists with less than one year of experience may expect an hourly pay range between $9.61 to $13.39, while transcriptionists with 5 to 9 years of experience may see wages from $11.97 to $15.89. For medical transcriptionists with 20 or more years of experience there is a median hourly rate of $14.39 to $18.44. According to Allied Health World, highly experienced transcriptionists can make over $40,000 a year.
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Employer Type
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Medical transcriptionists are either self-employed or work for employers such as government transcription service offices, clinics, medical libraries and other businesses. According to the Bureau of Labor Statistics, while many transcriptionists work from their homes, approximately 36 percent work in hospitals and 23 percent for physicians. Independent contractors often make more money than traditionally employed transcriptionists. As of 2008, the lowest median hourly rate for medical transcriptionist work was $10.76 for beginners. Those employed with general and surgical hospitals earned a median hourly rate of $15.88 per hour while those who work at laboratories can earned $17.26. The median salary for the highest 10 percent of medical transcriptionists was $21.81 per hour in 2008.
Training's Effect on Salary
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Employers hiring medical transcription workers look for employees with strong writing and computer skills. According to the Bureau of Labor Statistics, there is a preference for transcriptionists who have received some form of post-secondary training. There are two forms of certification available: the Registered Medical Transcriptionist (RMT) and the Certified Medical Transcriptionist (CMT). Allied Health World suggests that the average salary for certified medical transcriptionists is $40,000 per year.
How They Are Paid
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Medical Transcriptionists are often paid by the hour, the line, the number of characters or by the dictated minute. The most common way that employers measure pay is by the transcribed line. According to FutureMT, the pay per transcribed line ranges from 7 cents to 13 cents. Allied Health World indicates that a line can be defined as a line of text or 60-70 characters.
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