Liability Insurance Rates? Does
Posted By: Interested2 on 2006-12-04
In Reply to:
anyone have a rough guesstimate of how much this could run an IC? I have been to various websites and got to an actual policy application form, but they only specify a cost of around $84 to $100, but don't say if that's monthly, quarterly, annually, etc. Anyone have an idea? Thanks!
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Liability Insurance
I carry a $1 million umbrella policy that covers basically anything that happens at my home or in my car, except weather and acts of God. This policy costs me $213 per year and I feel that it is well worth it.
somebody please help me liability insurance
i have a job offer that requires liability insurance. company is accuscribe. i have no idea where to go to get this insurance or how much it costs. i am really confused. somebody, please help me!
E & O Liability Insurance
E & O Liability insurance with AAMT runs $300 per year.
Do most IC's buy liability insurance?
I cannot afford to buy this insurance. Am I jeopradizing my home, etc.
I keep wondering if this career is worth it. I seem to put in so many long hours and do not get paid what I really put into it. On the other hand, I do get that freedom of completing the work when I choose and whether it is in my pj's or not.
Just wondering. 
E&O Liability insurance
I realize many of us think we do not need this insurance. Unfortunately, a local area hospital thinks I do to work for them. Someone had told me they got this through their home owners policy. Any ideas on how to do that? I'm not a member of AAMT. I checked into it before, and it was rather expensive buying it outright from an insurance company. Thanks. I need to find more work and, unfortunately, this is what this hospital requires.
That's not true. You do not need liability insurance SM
I went through a similar situation not too long ago. My lawyer informed me that I do not need this insurance. The dictating physician is responsible for the content of the dictated file and if he/she fails to read it/correct mistakes before signing off - he/she is the one that buys the farm, not the transcriptionist.
In other words, error and omission insurance is a crock.
Professional Liability INsurance?
Does anyone have this through AAMT? If so, how much did you pay for it? If not, are there other options out there? I'm looking into errors and omissions and I read about this, and think it would probably be just what I am looking for, but I am curious about the price before I pay for an AAMT membership! Thanks.
Do any of you ICs out there carry your own liability insurance if
you are working for an MTSO? I do not carry this insurance and was looking for what you all can advise me. Thanks.
Does anyone have liability insurance? What can you tell me about it? Wondering if I (am IC) need i
x
who will provide IC liability insurance when state farm does not?
I want to be an IC, but in calling my insurance company they do not cover liability insurance for anything to do with medical......Does anyone know who I could contact?
How are their insurance rates?
nm
What are their insurance rates for employee and husband?
nm
no liability on IC's because MT's dont' have liability
-- the docs do. I have yet to hear of an MT in court because of what she transcribed...so don't worry about the liability. Big panty wadder coming from insurance companies.
Has anyone kept a list of line rates, report rates, benefits, etc for sm
the different companies out there? I feel lost and confused. It seems like everything is changing daily, and I am not being organized enough to keep up. I am about to actively look for full time employment again but if there was a list, I would be able to sort through a lot more quickly.
Can anyone help? I am going to start keeping a chart myself in case anyone needs this in the future.
Line rates in the Northeast - can anyone advise as to what the going rates are in the NE part of the
country? Specifically Connecticut. I want to make sure I am on target here. Thanks.
Liability
What company is this for?
What about liability???
Found a hard working young mom who desperately needs income. Told her I'd pay her $12/hr to help me get my home spring cleaned. But, I wonder about liability should she or her son (she needs to bring her 3 yr-old son with her) get hurt on my property. Or, heaven forbid, she stoops to the low road and scams me. I do not know her well and she seems relatively honest but I am paranoid.
Should I have her sign a waiver???
ESL's a liability?
Imagine if the messed-up phrase had been directly linked to some life-or-death decision, or an allergy to medication, peanuts, or whatever. Makes me wonder if hospitals & clinics have ever thought about the possibility legal trouble an ESL doctor can cause by not being able to speak clearly.
ICs and Liability
Does anybody know how liability is handled if a transcription mistake causes harm to a patient if the Transcriptionist is an "Independent Contractor?"
Is liability insurance one of the first things an IC must purchase? Does the MTSOs customer who hired the MTSO as an IC think it's a good idea to SUBcontract the transcription work to a subcontractor who may or may not be insured?
Speaking of ICs...I found the following link on the U. S. Department of Labor's website most interesting:
http://www.dol.gov/esa/whd/regs/compliance/whdfs13.pdf
It seems that a lot of transcription companies are illegally viewing employees as "independent contractors" when the criteria for such are not being met.
For example, if you hire an INDEPENDENT contractor to remodel your house, the contractor presents YOU with the contract, not the other way around. (Hint: The one who presents the contract must be the contractor!) The contractor presents you with the bill when the work is finished; you don't tell him what your "hourly rate" is.
You meet with him and come to an agreement as to price, what work you want done, and other things that both of you agree on.
However, you do NOT tell the contractor what tools they will use, what shifts they will work, or what equipment they will use to do the job. You can't say things like "I don't like DeWalt power tools. Go out and buy all Makita power tools if you're going to work on MY house."
Read what the U.S. Department of Labor says about Independent Contractors and how narrow that scope really is. Then, the next time a company hires you as an "independent contractor," act like it. Present them with YOUR contract and tell them what YOUR rate is. If they start talking about their cpl rate, then they're an employer, not your "customer." Remember, REAL ICs are the ones that bill for their work.
I bet other insurance carriers have insurance for their employees. Why not Wal-Mart? nm
:+
Virtually no liability as an MT...sm
you never hear about transcriptionists getting sued. You could just increase your homeowner's coverage to a 1 mil liability coverage - which would give you 1 mil liability for everything, not just getting sued as an MT. But I don't carry it and I don't know anyone who does. I have a small service and even when I sign contracts with hospitals that require vendors to carry insurance, they just write a line through that clause.
Not what I understand -- tax liability
It doesn't matter whether you get a refund it is what your tax liability is, I think you have to have had a liability of over the amount, or paid at least that much as taxes for the refund. If someone does not have enough withheld but still pays over $800 a year in taxes, they should get something. But if your tax liability goes down to zero, and you get EVERYTHING back that you have paid in plus more, then I do not think you would get anything. But again, I am no expert but what I heard is that you had to have paid at least that amount into as taxes after filing.
Oops, liability is his.
x
It has happened to most of us. I just wonder what liability ICs have regarding this. nm
I was deposed regarding a liability case
Patient only had a diagnostic test done where I worked. Family claimed it was from an accident. Insurance company bucked it saying it was congenital. My employer had to sue the family for nonpayment and because of that, the family's lawyer got a subpeona to have a disposition. I wasn't upset because I knew I had nothing to offer. The family's lawyer arranged to have it done where I worked (I was in charge of records Quality Assurance and for sending accounts to collections). The family's lawyer asked his mundane questions. The insurance company's lawyer kept trying to get me to say the ordering doctor ordered an unnecessary test. He finally asked me directly if I thought it was an unnecessary test. I looked him straight in the eyes and told him that I was not qualified to answer that as I did not have a medical degree and had no qualfication to state any test, procedure, etc., was every medically necessary. If he wanted a medical opinion, he would have to pay someone who was qualified to answer the question. He turned red and ended the whole thing.
What a total waste of time. 
Yes, sorry, the errors and omissions liability
insurance. I have not heard of it before, but there is a company recommended on company board and they require all IC's to have this type of insurance plan within 30 days of hire. The policy was very evasive to me, and I could only see the figure of $84, which I am guessing now might even be weekly? I think I'll forget about that company...
General Liability for Independent Contractors
I have just started a position for a company, and they require that I hold general liability insurance, but am a little lost as far as how to obtain that! Just wondering if anyone had any pointers for me.
Thank you in advance! :-)
???going rates
Help!!! just been offered an OB/GYN doctor account. What should I charge?
Rates
I am out here in Oregon. I will be completely honest but have been told on this board that I am too low and do too much for my docs but they have been very loyal to me, all have been with me from 5 to 18 years, pay on time -- 48 hours recepit of invoice, no questions asked about line count, etc., never a bounced check, etc. I have just raising my rates to 0.115 for my larger accounts and 0.125 for a small account that I have that does less than 1500 lines per month. Oh yea, my psych account is still at 0.11 cpl but he is not 24 hour turn around and going digital.But I do charge gross line, 65 charaters per line. I pick up and deliver, provide the sticky paper, cut apart the chart notes, do envelopes. I make about $3200 to $3500 per month depending on whether all docs are in all month or not, (6 docs) and since I have been doing them so long, I put in 25 to 28 hours per week with printing, pick-up delivery, etc. And yes, they appreciate me and give me Christmas bonus, birthday gifts, extra time when I have a crisis, etc. Had been working at a clinic doing about 20 hours per week in addition for the past year but just paid off my last attorney fee from a ugly divorce and so am qutting there as of next month and taking three months to do just my own accounts and have some fun this summer. I had a resume from a company out here that wanted my clinic account and charged 0.18 cpl but to me that is way too high. I feel that I average 30 to 40 per hour and to me that is more than fair. And yes I provide my own insurance, own my own home, put $500 to $800 aside for retirement. Patti
Rates
It definitely depends on where you live. I'm in Arkansas and have a hard time getting 0.10 out of docs around here. Right now I have a peds acct that is 0.08 and an internal med that is 0.9, 65 character lines. The peds acct provides their own paper for me to print on and I email transcription to the internist, so they print it. I do pick up tapes everyday and I am always available, never take vacations unless the docs do.
The best thing to do would probably be to talk to some of the doctors and negotiate terms.
rates
I work full time and also do "extra accounts" to support my love to travel - live in the northeast. I do a big GI practice (6 docs), ENT practice (2 docs) and high-risk pregnancy (2 docs). I charge a flat $3 a page no matter how many lines are on that page. (These are all letters). I've been told I'm cheap, but it averages out to about $30 an hour for the most part and anywhere from 16 to 20 hours a week. All are quite good dictators, provide their letterhead and since I have been doing it for so many years, easy accounts. They are wonderful about me taking vacation - just hold the work for me. A bit overwhelming at times when I get back from vacation, but worth it. As all offices are near my full time job, I pick up and deliver almost every day.
Rates...
I work as an IC for a neurology group and also for a child and adolescent/family and marriage psychiatrist. I charge 12 cents per line based on a 60-character line. I had worked for another group that paid me 14 cents/60-character line, but they needed tapes picked up daily and I lived nearly 45 minutes away. If you have experience, in my area you can pretty well set your own price and they will jump at it.
QA rates
Can I ask what you get per line?
nth
rates
I have a couple clients like this -- was way easier to just charge a higher line rate than to figure time/paper/ink/postage, etc for every billing. My docs liked the all-inclusive flat rate. You can write off the paper, postage, etc as business expense. Good luck.
Rates in NJ
Just checking in to see what a fair rate would be to charge for specialities (neuro and ortho) in the Morris/Sussex/Warren County areas of NJ. If anyone out there has any info, I'd appreciate it.
CMT rates
I have never seen it make a bit of difference. I do very well without having those initials. Good question about verifying that though, I have seen some really awful QA work that boast those initials.
In looking through the ads, the rates seem to go from 7-10 cpl for IC or emp. nm
s
rates
Paid by minute. what is the going rate?
Rates
Thank you all for your input, it has been helpful. I charge 12 cents per line 10 words (no spaces) = a line. It's mainly the gas and the time driving out there. I figure it's 2.5 hours per week specifically for them. I do include errands etc during my delivery, but now that my kids are going to be out of school, I will have to make a special trip out there just for them. My other two accounts are strictly digit and we communiate via internet. I did raise my rates to .14 last week, and they threw a fit. I suggested that I come in less frequently or that they consider going digital and they are not open. I am not sure what is going to happen at this point, but I feel with all the time and money spend just on this one account, 12 per line is not reasonable. Plus, I just read today that gas prices will hit 4.00 per gallon in my areas this summer. Thanks again for all your input, it was very helpful.
pay rates
I would like information about pay rates. I get paid for a gross line. Due to recent changes in computer systems I looked at new and old reports and found that my character line is more than 80 characters.
pay rates
I used to be paid by the gross line and it all depends on the size of the font and the margin length. However, you also have to consider how many times do you truly do a *full line*. There are many lines where only a few characters are entered, and you are being paid the same for those, as you are for a full line. If you are really concerned that you are not being paid enough, take one report you just finished, do a character count, and divide by 65, multiply that by your current pay rate and see the difference. I would go back to gross line in a heart beat if it was available to me. but that is just my opinion.
Pay rates --sm
I think the pay rates you suggested are a little bit high. Everything I have seen and even applied for, have started on an average of 7 to 8 cpl for both employees and IC, even with MTers with up to 30 years experience. Most companies state that the pay rate is based on experience, but it is not really that way. They have a set starting rate and you either take it or leave it. Raises are rare in any company. Some offer production *bonuses*, but from what I have read, there are so many loop holes involved in making those, that it is not even worth it or feasible. Just my 2 cents.
pay rates
My company pays by the dictated minute with 7 levels of pay depending how much you type and how efficient you are. The more efficient work you turn in, the more pay you get. If you consistently turn in poor work you will be limited to access of jobs and/or let go.
Rad Rates
Well, you would surely wish to do as the client asks, wouldn't you? :) And yes, they say how they'd like to be billed.
Per line 14-20 cents, depends on how many characters, TAT.
Per report 2-3.
Never billed or paid by page or minute for rad.
Best wishes!
IC rates
If an IC works for himself/herself, they can set their own rates, but if they work for a company as an IC, like I do, they get paid whatever that company sets as their pay scale for ICs. It is very unlikely that if you work for a company as an IC that you will get a raise. Usually raises are only given to employee based transcriptionists.
My rates sm
I get 8.5 cents PLUS incentives at one job. I get 10 cpl at my PT job. I do OP notes exclusively.
I have only 5 years to your 6, so I feel like yeah, you should get more.
OP note only MTs are desirable. Companies, anymore, are hiring OP note MTs and the rest of acute care MTs. I am pretty sure you can do better. If you even have incentives for what you can do, it would be better.
QA rates
Just my opinion.
Where I work, MTs generally make 10 cpl and QAs make 5 cpl. I chose to do QA, simply because I have done this more years than I care to admit and I find the work more interesting and less tiring than MT work.
I think if you do a good job as an Editor (QA), you will make about the same hourly rate as a transcriptionist. While I do not make more money doing QA (about the same as MT), I like it better because there is much less keyboarding and I enjoy figuring out the difficult transcripts. Also, I think in the next 5 or 10 years, editors will be the only language specialists with decent jobs.
I think if you take less than about 5 cpl, you'll end up making less than if you were working as an MT.
Cindy
rates
can anyone tell me average rate per line for the north east area? I was thinking 14-18 cpl?
rates
PLEASE let me know of anyplace that pays 9 cpl or more!!! Thanks and good luck!
IC rates
Depending on where your accounts come from... if you're with an MTSO I'd say 8-9 cpl is the "going rate". If you have your own clients, though, your rate would likely depend on the area of the country/state you're in... anywhere from 11-18 cpl maybe?
Higher rates
When my hospital looking into a MTSO for quicer TAT, they were quoted .33 cpl. This company only paid their MTs. .07 cpl. Needless to say, my hospital stuck to what they were paying me.
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