To know the truth about a medical transcription salary, you must first realize there is no standard rate for any medical transcription salary. Even making an estimation of the average medical transcriptionist’s earnings can be difficult because, as with most professions, one person’s salary will differ widely from the next.

In general, about the best we can do is an educated guess. To do this, we must look at the average starting wage and then the expected maximum earnings of a medical transcriptionist. Data in May of 2006 from the United States Department of Labor indicates the average earnings for a medical transcriptionist range between $10 to $20 an hour. Based on this you should be able to come up with a general idea of how much the typical medical transcriptionist’s salary should be.

Where one is employed will influence the amount of the medical transcription salary. Diagnostic laboratories rank as one of the highest paying employers with an average salary of $16 per hour paid for medical transcription.

The lowest paying health care institutions will probably be physicians’ offices, which usually offer something in the range of $14 per hour. The highest-paying opportunities are generally in working as an independent contractor in medical transcription. They can earn as much as $20 per hour, sometimes more.

Work experience will also affect each individual’s salary. Experience, as in any career field, is key to achieving the highest income level. An inexperienced transcriptionist can expect to start with a salary of about $9 per hour. However, the experienced transcriptionist can expect to earn a salary from $15 to more than $20 per hour. As your experience and skill level grow, your medical transcription salary will be limited only by your willingness to work hard, and you should be able to almost write your own paycheck.

Your medical transcription salary could be computed in any number of ways, and this will affect your salary as well. Medical transcriptionists are sometimes paid by the hour regardless of the amount of work they do or how many hours they work. Others are paid based on the number of lines and sometimes minutes of dictation they transcribe per day. In order to make the best employment decision for yourself, you will need to weigh the advantages and disadvantages in the way your salary is determined.

As has been stated prior, the medical transcription salary varies greatly based on the skill and experience level of each transcriptionist. Anyone who is able to work quickly, efficiently, and is willing to put in long hours will likely earn a larger salary than their peers. Therefore, an experienced, highly skilled and motivated medical transcriptionist working full time could expect to earn $50,000 per year or more.

Do not judge the medical transcription salary by the dollar figure on your paycheck alone. Compared to many other professions, the medical transcriptionist enjoys much more flexibility in scheduling as well as in other areas of their life and career as well. That can offer just as much value, perhaps more, than the income earned.

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