Medical Transcription Offers Good Salary, Career
If you're looking for a career in the healthcare industry, then medical transcription might just be for you. There is a great potential for growth for those willing to go into medical transcription. Salary levels vary with experience and education, but with the right breaks, the money can make this career choice well worth your while. However you can't just expect to sit down at your computer and start making thousands of dollars per month doing this kind of work. There is plenty that goes into becoming successful at medical transcription and it all starts with the right kind of career training.
Most people have seen something on TV or online about medical transcription and then think...”Medical transcription. Salary looks good. I can work from home? I'm in!” Well sorry to disappoint you folks, but it's not quite that simple. While you don't have to go to college to get into this field of the healthcare industry, you do need to go through training. Some colleges do offer courses on medical transcription and there are also home study or correspondance courses as well. Either way you are looking at anywhere from a few months to two years of training.
Medical Transcription Salary Makes Career Worthwhile Option
Usually courses that only last a few months don't offer a certificate for medical transcription training. However your medical transcription salary might be affected by the lack of a certificate. A reputable certificate course may take as much as two years to complete and cost well over $1000. In the end, the cost is probably going to be well worth it and you since you'll have much more experience than someone following a six or ten week course. This may make you more appealing to possible clients in need of medical transcription services.
Just like with any other job worth having, with experience comes better pay. Entry-level medical transcription salary projections start at around $8 to $12 an hour. As your years and experience grow you can make around $40 an hour doing transcription work. In most cases, you will need to look for the work yourself and if you are working as an independent contractor you will need to handle your own tax issues like self-employment tax. Your employer will likely send out a 1099 tax form for the work you complete over a year and you will have to pay quarterly self-employment taxes to the IRS.
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