Medical Transcription Salaries - How To Compare And Evaluate Them

Medical transcription salaries are as varied as there are medical transcriptionists and the type of medical transcription work they perform. Many factors have to be taken into account when considering how much a medical transcriptionist makes hourly or yearly. Here are some tips to help you make some fair comparisons to get accurate data.

When seeking out general information regarding medical transcription salaries, remember that figures are given in median values: In other words, when you see a particular medical transcription salary, remember that 50% of medical transcriptionists make less than that amount, and 50% make more than that amount.

Consider the type of medical transcription that is being done and also the benefits that may be offered when you look at medical transcription salaries. Medical records transcription in hospitals may pay less than private practice offices and other healthcare companies; however, the benefits offered to a hospital medical transcriptionist may make that medical transcriptionist salary more competitive when taking both monetary compensation and benefits into consideration.

Self-employed medical transcription salaries seem more competitive upon first inspection; however, once again, a self-employed medical transcriptionist must pay for benefits and ultimately can make less than a medical records transcriptionist who works in a hospital.

The amount of experience is a significant consideration in terms of medical transcription salaries. Across the United States, the median salary for a medical transcriptionist with less than one year of experience is $27,580 while the median salary for a medical transcriptionist with 20 or more years of experience is $35,952.

The location of medical transcription jobs also affects the salary of a medical transcriptionist. Local population trends, such as an influx of elderly people to warm states like Nevada, Arizona, California, Texas, and Florida, for example, also affect the need for medical transcriptionists; and as the demand goes up in the healthcare industry for medical transcriptionists, so do medical transcription salaries.

MT Mastery Center has the best source of information on medical transcription salaries. Find out how much MTs are making in your area by visiting MT Mastery Center now.

Author Mary Ruff-King, a 14-year veteran medical transcriptionist, reveals all tips, techniques, and cutting-edge information you need to know about medical transcription.