Wages for Medical Transcriptionists

Wages for medical transcriptionists vary considerably. Now, income rates do have a tendency to vary widely from a specific geographic region of the country to another, this doesn't apply to medical transcription work. Because nearly all medical transcriptionists work from home geographic location is not that important. Large national employers usually disregard location when determining how much to pay medical transcriptionists.Regardless of this, wages will vary a great deal from business to business, as will the method of payment. Gradually more medical transcription businesses are paying on a production basis. This means that, at the end of the day, you will be paid a certain wage which corresponds with the amount of work you were able to accomplish. The more efficiently you perform your work, the more you earn.A transcriptionist with little experience will typically earn more if they are under a system which pays them by the hour. Acquiring a medical transcription job with an hourly income rate allows the new transcriptionist to be guaranteed a salary during the least productive stage of her career. Those with experience are nearly always better off being paid a production-based wage, provided they have the motivation to produce quickly.The average yearly income for a full-time entry-level medical transcriptionist (as stated by the Department of Labor) is $25-38,000. Those who are more experienced can expect to make incomes that are two or three times that amount when they work on the basis of production - especially if they are willing to develop their own clients. Sadly, there is not a great difference between the pay of experienced and that of non-experienced medical transcriptionists who work in hospitals where MT's are generally paid an hourly wage. This is one of the prime incentives for medical transcriptionists to look for positions as independent contractors where the prospect exists to leverage their income potential.