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Medical Transcription Salary Outlook
By Mila Sidman
So how much can an MT actually make?
MT salaries can vary greatly, and your actual earnings will
depend on a few different factors. For example, an MT who works
from home and has her own accounts will usually make more money
than an MT who works for an online service or at a traditional
job setting.
According to the U.S. Department of Labor the average earnings
for MTs in the year 2004 was between $11.50 and $16.32 per hour.
MTs in the higher earnings range (10%) earned $19.11 per hour.
Now, keep in mind that's just a statistic. How much you actually
earn can vary greatly and it's really difficult to come up with
a "true" earnings statistic.
If you work from home on your own accounts there may be months
where you have extra work and months when you have less. Your
earnings could also differ dramatically from another fellow MT
who works from home on her own accounts.
A great advantage about having your own MT business is you can
truly have control over your earnings. The more accounts you
have, the more money you'll make.
As your business grows you can hire subcontractors and take on
even more work. There really is no limitation in how large your
business can grow.
You may also choose to have a smaller and easier to handle
business. You can always work a little extra to increase your
earnings, or simply take on the amount of work that suits your
needs.
If you have a home based MT business and you do all the work
yourself, you can make anywhere between $20,000 a year to
$50,000 a year. A larger transcription service, which hires
subcontractors can earn between $50,000 a year to $200,000 and
upwards.
Medical transcription jobs outside the home can vary just as
much, depending on where you live. Earnings can be from $9.00
per hour to $22.00 per hour.
It's really difficult to say exactly how much your medical
transcription salary will be. But one thing to keep in mind is
the earning potential is there and there are many opportunities
for you to take.
This is TRULY a business which allows you to have control over
how much you earn.
About the author:
Mila Sidman is an experienced MT and owner of www.AskTheMT.com -
an informative website dedicated to answering all your medical
transcription questions.
