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Tag: Transcription Service
May 17, 2019

How to Calculate Medical Transcription Pay Rates

Medical transcription, an allied health care process converts voice recordings by health care professionals like the physicians and the doctors into digitized text formats. Today, the industry of medical transcription is one of the most booming sectors of the health care domain. And that is primarily because every doctor or physician is seeking to hire a medical transcriptionist that is experienced and trained to specifically understand medical terminologies.

A medical transcriptionist astutely listens to the voice recordings that may vary from medical reports of the emergency room to chart reviews and transcribes them into medical reports. The job of a medical transcriptionist usually does not require specialized prerequisites but they must possess an ability to understand various accents and medical jargons. This significantly impacts the quality of your medical report! 

As a health care provider, you want your medical reports to be of the highest quality and that is often intertwined with the medical transcription pay rates. A higher transcription pay rate does not always mean high quality which is why it important to understand the various factors that affect the medical transcription pay rate. Detailed knowledge of the factors that affect the invoice charges will allow you to understand and calculate transcription pay rates efficiently for your practice. Following are some of the factors that the outsourcing providers generally use to determine the transcription pay rate of the voice recordings:

  1. Length of the audio: The length of the voice recording is the first factor that determines the transcription pay rate. The 2 factors are directly proportional which basically means that longer the length of the audio, more will be the invoice generated.  
  2.  Single versus various speakers: The transcription rate is usually low for dictations or for a one person recording versus a recording that may include various doctors and health care providers. This is basically because it is easier to transcribe the voice recording of 1 person versus a group of people.
  3. Audio clarity: The clarity of the audio is again one of the major factors that influence the transcription pay rate. If the quality of the audio isn’t clear, medical transcription service providers charge more because it takes them a long time to transcribe the voice recording. We suggest you conduct your voice recordings in a quiet room that has minimal distractions.   
  4. Speaker Accents: Medical transcription pay rates are also often influenced by the accents of the speakers in the audio. Now, if the accent is difficult to understand or there is a second health care professional in your audio whose primary language isn’t English, chances are that you may be charged more to transcribe your audio.
  5. The turnaround time: If you choose the standard turnaround time of the outsourcing provider, then the transcription cost would be nominal as opposed to urgent delivery.
  6. Type of Specialty/Complexity of the Content: If the voice recording is of a specialized health care unit or the content to be transcribed is highly complex or supremely technical, then the resources may need to invest more time in analyzing the content which is why your medical transcription outsourcing provider may charge you more. For instance: The charges for transcribing a radiology report may be less than transcribing a dermatology report.

These were just some of the few factors that the transcription agencies take into consideration while determining the transcription pay rate.

Another major factor that very often influences the transcription pay rate is the location of the service provider. Though this is not always the case, it is important to be aware that medical transcription service providers residing in the United States, Canada, and European countries may charge more than the service providers located in Asian countries. This is basically because the medical transcriptionist salaries and their hourly pay rates differ significantly between the two regions.

Various job market sites illustrate that the compensation for an average medical transcriptionist during their first year in the States is between 9 to 13 dollars per hour with an average of 14 to 15 dollars/hour in the next few years. This rate varies between INR 150 to 300 per hour in India. Apart from paying by hourly rates, you could also calculate your medical transcriptionist’s remuneration with another method known as character line counts. Following are the guidelines for a 65 character line:

  • The first step is to determine the rate per line (The rate is generally influenced by 1 or more factors listed above)
  • The next step is to determine the number of the lines in the document.
  • These number of lines are then multiplied by the per line payment rate that was set in the first step. For instance: If a document has 174 lines and pay rate is 10 cents a line, then the total payment for the transcribed document would amount to 17.4 Dollars (174 X 0.10 = 17.4) 
  • Alternatively, you can also enumerate the total character count of the document and then divide it by a value of 65 to determine the number of lines. For instance, if a document has 8500 characters , then the number of lines would amount to 130.76 which can be rounded of to 131 (8500 / 65 = 130.76) 
  • One of the factors to ensure the correct calculation of the transcription rate via the character line count method is to ensure that the space counts are not being counted as characters. Inclusion of spaces within the character count increases the value of payment.

The above guidelines for character line count have been set by AHDI (Association for Healthcare Documentation Integrity), an organization that was formerly formed to reward the achievements of professionals from the medical transcription industry.

Although there are various ways to remunerate your medical transcriptionist, the character per line count method is one of the most popular and widely used processes to calculate the medical transcription pay rates among the health care professionals for their transcription reports. 

By: Anna williams Category: blog
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April 3, 2019

Medical Transcription As a Career Option for Doctors

Medical Transcription has become very necessary especially for the healthcare sector.  The medical industry is going through a big technological revolution
nowadays.  A scientific realm has been formed named -Healthcare IT –  by bringing Medicine and IT altogether . It has opened the doors of opportunities for both healthcare and non-healthcare professionals.
    A field that is largely explored by the non-professional professionals, medical transcription has yet the benefit from the skills and  the expertise of professional medical transcriptionists. There are following opportunities for medical graduates to initiate their career as a medical transcriptionist.

What is Medical Transcription?
In simple words medical transcription is a process of converting medical dictations ( Digital Voice ) into textual format (generally in word document). The voice files has usually the voice of medical professionals, mostly physicians or their assistants dictating for a physician. The doctor dictates notes on patient encounters and the same is made available in a digital form that a professional medical transcriptionists listens to and types in words. The purpose of medical transcription has primarily two fold. The transcribed document is served as a medical record that a physician needs to make available to the insurance company in order to have hs claim approved.

Flexible Timing and opportunities to work from  Anywhere:
Medical Transcription is a great solution for practicing medical professional who want time allocation a change. Many firms offer you working from home even, helping doctors will earn extra income while continuing on their medical journey. It can be more flexible like you can work from home or from anywhere, at home or in the office, and with scheduled times too. A number of certified and passionate medical transcription graduates work online It doesn’t only gives you much desired flexibility but it also helps you to save on expenses like traveling, park, gas, and more.
Why Doctors Can Become A Medical Transcriptionist:
To begin as a trainee in medical transcription, you must be a graduate.  A degree in any extreme would make you eligible to work in medical transcription sector.  However, your medical graduation degree can add value to your educational qualification and boost your chances of getting hired. Your acquaintance with medical terminology also makes you fitter and more comfortable in this field. you will also be able to comprehend the medical terms and abbreviations used in the recording. Where the other students in medical transcription programs require classes in anatomy, pathology, physiology and medical lexis, physicians on the other hand, doctors would get it convenient to get into such a setting. Almost seems like the job is inviting the medical graduates.

How Much Is A Medical Transcriptionist Paid?
Usually, the medical transcriptionist as a freelancer or a full-time employee is paid on an hourly basis or based on the number of lines and the number of words they transcribe. With the advancement in technology and the rising demand for qualified medical transcriptionists., the profession has got a major facelift. The Bureau of Labour Statistics has predicted that within a few years, the number of medical transcriptionists will rapidly increase into triple figures.
             Nowadays, on an average a medical transcriptionist trainee gets a stipend of about $1000 per month. An experienced medical transcriptionist earns 70,000$ per annum. And like every other business, higher productivity would definitely lead to higher earnings.

Where is a medical Transcriptionist employed?
There are so many healthcare-related industries where medical transcriptionists are needed. According to recent statistics, 25% physicians and 35% hospitals and their clinics, and many more administrative healthcare providers need medical transcriptionists for documentation purposes.
   Many of senior medical transcriptionists work from the comfort of their homes and according to their terms, as freelancers too. By doing so, medical graduates can get more time with their studies, and with their families and also can generate extra income to take care of their financial responsibilities. By doing so, they can also continue their studies smoothly without facing any problem.


Two young doctors talking about medical transcription

CAREER GROWTH:

The medical transcription industry has been expanding. With the industry growing, there will be many more job opportunities in the medical transcription business. The bigger medical transcription company, United States based Eyered Transcription has more than 100 employees at present and planning to expand its strength. After two years of experience, a medical transcriptionist can apply for Certified Medical Transcriptionist (CMT)  and later for a Medical Language Specialist (MLS) certification to bring in higher remuneration. The capable MTs can move on to become supervisors, trainers, editors, and managers of training units.

A number of practising doctors are also working as medical transcriptionists . Sometimes the exact transcription of dictations becomes very complicated and time consuming for the medical transcriptionist, then the physicians need to do this by themselves. So if a medical graduate already knows all the techniques and skills about transcription that will be very beneficial for him too. If the practitioner or a clinic doesn’t have so much workload, then medical transcription can be done by the physician too. So if a physician comes from a transcription industry that will be more convenient for him to establish clinics.

Choose Eyered for Accurate Medical Transcription:
Eyered Transcription is a 20 years old medical transcription company. It has been one of the leading medical service providers to the client across the United States for a long time now. It has been in the healthcare industry for 20 years and its experience has given enough confidence to handle any kind of medical transcription requests. Our team of very passionate and experienced transcriptionists has always been on their toes when it comes to being updated with the latest trends in medical transcription. Our team is expert at adapting to new trends. We train our medical transcriptionist for many years to deliver high-quality, accurate results (approx 99% accuracy rate) within a quick turnaround time, and provide a free trial option so that anyone can judge our transcription services before outsourcing the entire project.
   If you are looking for the medical transcription service provider with accuracy and punctuality, then you have come to the perfect place. Get in touch with us or talk to our representatives. They will be very happy to help you.


By: Anna williams Category: blog
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