How Much Money Can a Medical Transcriptionist Earn Per Year?
Medical transcriptionists are trained in areas such as anatomy, medical terminology and healthcare legal issues, all of which they put to use transcribing audio notes made by doctors and surgeons and compiling those notes into a medical report. The amount of money a medical transcriptionist earns per year depends upon her level of training and experience, her employer and her location.
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Salaries
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On average, medical transcriptionists made $33,350 per year as of May 2009, according to the Bureau of Labor Statistics. Salaries ranged from $22,430 in the 10th percentile to $45,700 in the 90th percentile. Transcriptionists with an associate's degree are more likely to earn higher wages, as are those who obtain certification from the Association for Healthcare Documentation Integrity as either Registered Medical Transcriptionist or Certified Medical Transcriptionist.
Employer
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The two employers with the most working medical transcriptionists were general medical and surgical hospitals and the offices of physicians, which offered salary averages of $34,480 and $32,410 as of 2009, according to the bureau. In outpatient care centers and the offices of dentists, the salary averages of medical transcriptionists were $32,870 and $36,170 respectively, while those working in the industry of business support services earned an average of $31,040. Medical and diagnostic laboratories offered the highest salary average for medical transcriptionists at $38,680 a year.
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Location
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Medical transcriptionists living in an area with a high demand for their expertise or a high cost of living are likely to earn more money per year. The bureau names Massachusetts as the top paying state for transcriptionists with a salary average of $42,880 annually, closely followed by Alaska at $42,640. California, Hawaii and New Jersey followed with salary averages ranging from $38,780 to $41,100.
Advancement and Outlook
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With every year of experience, medical transcriptionists are likely to earn more per year. They may also have the opportunity to advance to supervisory positions or become teachers. Additional training can also lead to a career as a health information technician, medical coder or medical records administrator. The bureau predicts a growth of 11 percent in employment between 2008 and 2018 for medical transcriptionists; while demand for medical transcription services continue to grow, outsourcing jobs abroad is becoming increasingly common.
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