Medical Transcription Salary Figures
The medical transcription salary will remain above average for stay at home jobs well into the future. This is the prediction of the US Bureau of Labor Statistics. There are different schemes for paying medical transcriptionists. Some medical transcriptionist salary are paid by the hour. Others earn according to the number of lines they transcribe.
Those in a home medical transcription enterprise may earn more than a transcriptionist working in a company. But independent transcriptionists have more overhead expenses and receive no benefits like their employed counterparts.
Transcriptionists employed in companies also have retirement plans, paid vacations, medical and dental insurance. So the medical transcriptionist average salary should be computed differently for transcriptionists at home and those working for companies.
The Medical Transcription Job
A computer outfitted with a headset and a foot pedal are the basic tools for medical transcriptionists. They listen to voice recordings made by physicians and other healthcare professionals. These recordings are dictated reports about emergency room visits, diagnostic imaging findings, surgical treatments, chart reviews, and summaries. The practitioner transcribes these reports, translating medical jargon and spelling out abbreviations. Some reports need editing. These are the returned for review.
The rapid growth in the health care and technology sectors also affect the medical transcriptionist salary. As people with better health care age, there will be a higher demand for all medical services. The voice recognition technology used in medical transcription will also progress. So there will be a greater need for trained professionals in the field.
The medical transcriptionist salary is projected to remain stable in the long term. According to the BLS, there will be 11 percent more medical transcription jobs from 2008 until 2018. This number of jobs is greater than average for other occupations.
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As the population ages, there will be a greater demand for transcription services. Elderly patients receive more medical treatments and require more tests more frequently. So more documentation will be necessary. The medical transcription salary will further increase as more individuals are attracted to the industry.
The Medical Transcriptionist Pay Scale
In May 2008, the medical transcription salary was $15.41 per hour. Transcriptionists in the middle 50 percent earned from $13.02 to $18.55. Those in the lowest 10 percent earned less than $10.76. Those in the highest ten percent earned more than $21.81.
These were the average medical transcription salary per hour in the industries that hired the largest numbers of medical transcriptionists.
- Medical and diagnostic laboratories $17.26
- General medical and surgical hospitals $15.88
- Outpatient care centers $15.46
- Offices of physicians $15.02
- Business support services $14.52
These medical transcription salary figures indicate that this is a profitable and stable occupation.
Medical Transcriptionist |
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