How Much Do Medical Transcriptionists Earn?
Medical transcriptionists transcribe medical reports from audio dictation created by physicians. Transcriptionists must have knowledge of medical terminology, grammar and be skilled with computers and software programs used in medical transcription. The average salary for a medical transcriptionist is between $24,644 and $36,078 as of December 2010, according to PayScale.
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Experience
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The annual salary of a medical transcriptionist increases with experience. For example, transcriptionists with 20 years of experience or more earn salaries between $24,142 and $39,650 while those with less than a year in the field earn between $20,413 and $30,888 as of December 2010. According to the Bureau of Labor Statistics, experienced medical transcriptionists may advance to supervisory positions or start transcription businesses.
Location
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Cost of living and demand for medical transcriptionists can be factors in the salary a medical transcriptionist may earn. Medical transcriptionists in California earn salaries between $23,561 and $47,902 while those in Tennessee earn a salaries between $18,313 and $30,201, according to PayScale. The cost of living in Los Angeles, California, is 43.8 percent higher than in Memphis, Tennessee, according to My Salary.
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Type of Employer
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Medical transcriptionists can work for hospitals, doctors' offices, medical transcription firms, government offices or be self-employed. Self-employed medical transcriptionists earn salaries between $17,315 and $36,402 while those working for hospitals earn a higher salary range between $24,790 and $39,440 as of December 2010. Private-practice transcriptionists earn salaries between $20,787 and $36,337, according to PayScale.
Benefits
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Businesses such as hospitals and private firms offer benefits to employees as a way to attract skilled and qualified employees. In addition to an annual salary, medical transcriptionists receive insurance, paid time off and 401(k) plans. Self-employed medical transcriptionists do not receive benefits from an employer and must sacrifice pay for time off and pay for their own insurance benefits.
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