MT's salary is sometimes earned by the number of lines of transcription the individual types and can range from $0.07 cents to $0.13 cents. Other factors regarding the amount of pay are the experience level of the medical transcriptionist and the quality of the work they do. It also includes the type of report being transcribed and how quickly the job is produced, along with the error level of the finished product.
As of May 2011, a medical transcriptionist salary averaged $15.41 an hour with the top people earning up to $21.81 an hour. Since that period of time it has more than likely gone up. If you show this as an annual salary, the salary can run from about $14,000 for part-timers who work around 25 hours a week up to about $45,000 for those who work 40 hours a week.
However, studies also show that very experienced medical transcriptionists can make $60,000 to $80,000 if they are willing to work as a manager of a team of medical transcriptionists.
Medical transcription salary can also be earned by those who work in a hospital, doctor’s office, clinic or other medical facility. The place chosen to work will dictate the type of work and the amount of work, as well as the days of the week and other facts. Some medical transcriptionists are also on call positions, as well as those that work evenings and weekends.
What kind of education is required to make a real medical transcriptionist salaryMost medical transcriptionists who want the highest medical transcription salary will strive to earn an associate’s degree, while others can be hired if they complete a one year certification program or even on-the-job training. These courses require learning about topics such as anatomy, medical terminology, and legal issues that relate to the medical field.
While formal accreditation is not required for some of the programs that teach medical transcription, the Approval Committee for Certificate Programs, which was established by the Association for Healthcare Documentation Integrity, as well as the American Health Management Associate offer voluntary accreditation for all of these programs if they wish to participate.
If desired, a medical transcriptionist can be registered as either a Registered Medical Transcriptionist (RMT) or a Certified Medical Transcriptionist (CMT). The first required two or less years of experience in acute care and who pass the AHDI level one exam. Achieving CMT status means two or more years of acute care experience, passing an exam, and being able to transcribe reports from several different formats and medical specialties.
Future for Medical Transcriptionists is BrightAs of 2011 there were more than 105,000 jobs in the medical transcription field. Most worked in hospitals, while other worked in offices, or from their homes. The future for job opportunity is expected to stay bright even with the advancement in computer software to hear the human voice. Research has shown that with the complexity of the human voice, a real live person is still better at transcribing medical documents.
The bottom line is that medical transcriptionist field is very attractive for those who wish to start a great paying job without a four year college degree.