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Serving Over 20,000 US Medical Transcriptionists

CMT/earning potential

Posted By: where have i been?? on 2006-10-11
In Reply to: Very, very few companies pay a CMT more, ... - UTMT

50, 52K?  That sounds great to me---as someone who doesn't transcribe anymore, am thinking I'm in the wrong end of the biz.  I have two hourly jobs, one FT and one PT as QA/editor from home and making 54.  Would much rather work one job...hmmm...I would certainly go back to transcription w/the right employer and the only obstacle to my earning potential being myself.  More info on types of companies you work for...??

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Potential employee or IC?
If she is an IC, I can understand her wanting to know the facts first to see if she wanted to take YOU on but the way you put it, it does sound like she was going about it in a rude way.  Maybe she's been through the hoops so many times she's fed up and you got her when she was near the end of her ropes!  Too bad for her if she lost out on a good job by jumping the gun.  Too bad for you if she IS good. 
Here's one potential reason why...
See link below for article. This was just one incident (who knows how many others there might have been that didn't gain media attention, though), but it just shows how being HIPAA-immune, as any offshored MT is, poses a very real risk:
Me 3. And the worst part is that I have a potential SM

new boyfriend (if you want to call it that, we're 55, lol) in my life. He hates smoking and I would never do it in front of him, so looks like I' m gonna have to bite the bullet too.

I smoked so much at my desk (at the hospital, when people did that) that I turned one of my contacts NICOTINE BROWN! Ewwww!

Why not use the time and money on something that's going to have more potential than this?
Anything less is a colossal waste of time and money!
If you're a potential employee...
...it has to do with HIPAA as well as Workers' Comp, in addition to ID issues.  For HIPAA, your home office has to be completely out of sight from the anyone living in or visiting your home, preferably in a separate, dedicated room, or in a common room but with a partition.  Sometimes at-home MTs don't get this, i.e., it's not okay for little Sally to come sit next to mom while she's transcribing; it's a HIPAA violation.
POTENTIAL is key. keep in mind posters below probably have
I make more as QA than MT, never made more than 30 grand. Occupational outlook agrees:


Earnings [About this section] Back to Top

Wage-and-salary medical transcriptionists had median hourly earnings of $14.40 in May 2006. The middle 50 percent earned between $12.17 and $17.06. The lowest 10 percent earned less than $10.22, and the highest 10 percent earned more than $20.15. Median hourly earnings in the industries employing the largest numbers of medical transcriptionists were:

Medical and diagnostic laboratories $15.68
General medical and surgical hospitals 14.62
Business support services 14.34
Outpatient care centers 14.31
Offices of physicians 14.00

Compensation methods for medical transcriptionists vary. Some are paid based on the number of hours they work or on the number of lines they transcribe. Others receive a base pay per hour with incentives for extra production. Employees of transcription services and independent contractors almost always receive production-based pay. Independent contractors earn more than do transcriptionists who work for others, but independent contractors have higher expenses than their corporate counterparts, receive no benefits, and may face higher risk of termination than do wage-and-salary transcriptionists.

earning ENOUGH as an IC

Hello all ... I'm considering leaving my hospital job to work from home f/t.  But if i work for a national, as an IC, it seems I'll be luck to make $20 an hour.  I'd have to work like a dog, all day long, to earn $150 bucks.   And of course that has no benefits in that wage !

My ques is - how do you guys who work f/t from home for transcription services - do it ?  How do you make enough $$ to pay all the bills, and then some?  do you work p/t and do this as a supplement ?

It just seems it will be very, very hard to make what I earn now at the hospital.  Thanks! JoJo - New Jersey

earning enough
You won't earn enough - look at these boards and see how many people can't pay their bills and how many people have left MT.

Stay at the hospital! I just recently - 3 weeks ago - went back to a hospital job after 10 years as an IC and/or MTSO employee. There is no comparison between the two.

ALso, the trend now is for hospitals to start hiring their own MTs, at least for part of the work. They are reversing the outsourcing trend that started back in the 1980s.

I think you'll be sorry if you leave your hospital job.
BINGO! He11 yes. Last week, there was a potential sm

How about earning via writing

See link below titled "Sample page." Sign up for free and start writing and earning. Read the FAQ on that site to learn about how. Also, visit the forums section and see how others are earning just expressing their thoughts, writing on topics they like.

...the sheer number of potential workers able to communicate in English...

When they say that they're being facetious, right?

If they make it that difficult to figure out what you are earning, then I would tell them NO.
These companies that cannot seem to want you to know what you are earning are hiding something. Say no. If they can figure out how to use a 65-character line with spaces, tell them to call you.
Too, the MTSO is not earning extra from the client
The gains come from their paying out less to QA.
Not talking taxes but fact you will be earning
Of course it's a business! Anything that's run for the purpose of earning a profit is a busine

What galaxy are you on?

Great. Now more will flock to CS in hopes of earning $40,000+ a year.

Why do they keep perpetuating this myth of making this kind of money with MT? New grads of CS are getting offers of 4-6 cpl for straight transcription and 1-3 cpl for VR. There is no way anyone is making $32 an hour at those rates.
I've never come close to earning $20 in years of doing this. Troubles with every company, usually
Longevity as an MT doesn't mean a higher wage. Lots of us out here still earning less
Ummm 10.00 per month compared to earning 800.00. No not free, but might as well be. BUT look aroun
server software IS free BTW: I find my solution EXTREMELY simple!!