Since medical transcriptionists charge for their services, they need to have a regular, predictable means of billing their clients. But how much should you charge, and how should you go about it?
The methods and amounts that medical transcriptionists charge differ between transcriptionists. There are rough guidelines that vary by state, employer and experience level, as well as by personal preference. And of course, there are ways to find out how the business works in your area.
How to Bill
Medical transcriptionists bill by different meters. Some of them include:
- By the line
- By word count
- By character count
- By the page
- By the hour
- By audio minute
According to Ask The MT, most medical transcriptionists bill by the line. They usually charge around 10-16 cents per line, with standard rates varying nationwide.
The benefit to charging per line is that your pay is directly related to the work you do, and your productivity directly influences your income. Thus, as your productivity increases with experience, so will your income. This may not be the case with hourly or audio-minute rates.
How to Know the Rate in Your Area
To find the standard medical transcriptionist charge rate in your area, Ask The MT recommends researching by contacting medical transcription companies near you.
Though not all companies may be willing to share information, some will give you an idea of what they charge their clients. Keep in mind that some companies may employ specialized transcriptionists, or may have a contract arrangement with their clients, so the prices they charge may not be exactly what you can charge. If you ask a few different companies, you wil start to get an idea what the normal rate is.