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Serving Over 20,000 US Medical Transcriptionists

I live on one job and save the earnings from the 2nd.

Posted By: me on 2007-11-27
In Reply to: Just wondering if I can be nosy and ask - - truffle

I am retiring at 55. Only 10 years left.

I've always worked 2 jobs and saved 100% of the 2nd one.

Have a list of places I want to go and things to do when I retire. Gotta get started early. :)



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I did try to save the file first but it wouldn't even let me save it.
.
Earnings
I might add that I make less than half what I did when I worked in the hospital laboratory (I was in management), but that's OK.  I'm much happier. 
Uh...30% IS near 40%. lol. And you need to put aside 50% of your earnings in CA.
.


Earnings
I work five hours a day and take home (after taxes, etc.) between $1500-1700 every pay period.
Earnings
In California. That's specific enough.
My earnings
For the last three years, I worked a 30-hour week and earned 44K with MQ each year. I expect to earn at least 60K now that I am fulltime.
How do you get your earnings up?

Hi there,


I have been working as an MT since January.  It was certainly slow at first as I was on a learning curve.  Now I am quite familiar with the work and have made all sorts of "shorthand" for myself with MS Word.  I also spend long hours, often more than 8 a day working at this, and I am still only earning under $600 per two weeks.  How do I get my earnings up?  I have heard one can make very good money doing this... but I am considering going back to work outside the home.  I need to earn at least $1000 per two weeks.  The company I am with pays 8 cpl for typing and 4 cpl for editing.


MT Earnings

The MT Conundrum


Those in the medical transcription field flocked to our 2008 Salary Survey, eager to see how they measured up against their colleagues. We had 872 total respondents in the transcription field, and 516 full-time MTs/editors and 212 part-time MTs/editors took our annual survey. Average MT salaries did nudge up a bit--4 percent--from last year, with full- and part-time MTs/editors making an average of $28,900 in 2008, compared to $27,800 last year. Full-time MTs reported bringing in $33,500.


At the Association for Health Care Documentation Integrity (AHDI), Kim Buchanan, CMT, AHDI-F, director of education and credentialing, hears a lot of complaints from MTs in the industry reporting drops in pay. "You hear complaints that wages are going down, but overall the data shows otherwise," Buchanan said. "This stat is showing we're slowly increasing."


MTs who work for medical transcription service organizations (MTSOs) did see a dip in pay (see sidebar on the next page), but certified medical transcriptionists (CMTs) (21 percent of full-time MTs) saw average salaries poke up to $39,000. To compare with last year's results, CMTs across all HIM professions brought in $37,864, and this year, CMTs who were MTs and other HIM professionals combined made an average of $43,900. Buchanan was very encouraged by the numbers, as full-time MTs who have a CMT make nearly $7,000 more than their non-credentialed colleagues. "To me, that really shows the credential differentiates you in the marketplace," Buchanan noted. "It's really encouraging to me to see the credential is being valued, and it should be. The complexity of documentation we're starting to see is going to require a  knowledgeable worker, and to me, credentials show you made a commitment to lifelong learning and you are truly invested in your knowledge."


The registered medical Transcriptionist (RMT) credentialed folks didn't fare as well, making on average $6,000 less than full-time MTs with no credential. The credential is only 2 years old, Buchanan explained, and most RMTs are entry-level MTs/editors who just came out of school. Looking at the average salary of MTs/editors with 0 to 2 years' experience ($24,500), RMTs make more than that ($26,100), and the RMT might also just be the ticket that gets new MTs hired in the field. "In a way, it's really helping them leapfrog that beginning salary you show on 0 to 2 years," Buchanan said. "It's helping them, it's propelling them, and it's putting them ahead, which is great. That's exactly what we wanted it to do."


After examining all the numbers for MTs, Buchanan was happy the average salary for MTs/editors crept up, albeit slightly. "Overall, I'm encouraged to see we continue to increase, even if it's at what looks like a snail's pace," Buchanan said. "In an economy where people are losing jobs left and right, it's good to know transcription is remaining viable, and we're still seeing our wages creep back up."  


Lynn Jusinski is an associate Editor with ADVANCE.


MT earnings
What a load of crap
monthly earnings
I'm new to this board, just found it today, and have been *so* depressed with what I've been reading in regards to line counts and rates you all are being paid. I've been an IC for 15 plus years, transcribing for about 23 years now. I charge by gross lines, 12 cents a line, max 70 characters possible on a line. I make okay money, averaging between $3000 and $4000 a month, with three good dictators, and I live on the West Coast. I could easily make more if I turned off the TV when transcribing and didn't take time off to be at the kids' sporting events. Before I got married, I easily made $55-60K a year, before expenses, but taxes killed me  so I backed off a bit. (This was before the elaborate Expander programs.) Ladies, the money is out there. You just have to find the right accounts!!
What do you mean they "take" 25% of your earnings?
If you mean they pay you 75% of what they charge the client, then 25% is small potatoes in my opinion for all the headaches they have for marketing, keeping the client happy, being the responsible party for turn around, technical issues, etc.  It's not worth the other 25% to me to have to go out and find clients and keep them happy and covered.
Well, if you doubled your earnings, does it come up to that 60-75K
s
it does take a toll on earnings...
I agree about the rates for VR. It can take a while to fix a botched report and in some cases I have to fix them by typing in the corrections, but still only getting paid half the rate. I used the Edit Script platform, which is awesome, but the company I work for is heavily supported by ESL docs, so it is a challenge. I do, however, use the IT Expander and get free lines from templates.

My solution was to also work for a second company that uses the same platform, but is mostly American docs and has a higher percentage of typing rather than editing, about 60/40 (40 typing). My first company is around 80/20 (only 20% typing). I agree with another poster who said that you have to find the combination that will work for you and increase your pay. She is right because for me, the second company is a smaller company and I will make more money with them. I like the other company also because they will give me experience with ESLs, but I will earn less money. I do the smaller company full time so I can eventually get the benefits and the larger company with the ESLs part time. Now I am receiving 2 paychecks, but working extremely long hours. I feel it will balance out with time. I have flexible schedules with both and can usually take off anytime I choose,which I feel are the perks of being an MT. It is hard to have this situation with a traditional job, so I take the good with the bad. I am new to this field and want to stay optimistic about my future with MTing.
Weekly earnings

Am relatively new to at home transcription so I am not doing as well as most poster.


Instant Text is relativley new to me, but helping prodcution.


I am not familiar with MP Lite. I know someone will be kind enough to share.



Thanks!


 


earnings - what can i expect from home?

Hello all ... I've been an MT for 13+ years and my current hospital has OUTSOURCED  my position!  I'm in a crappy  job at the hospital currently, working 3-11, to keep my benefits until I decide what to do, and go on interviews.  I'm considering working for the company that took over the hospital account - but I'm not sure what to expect as far as pay per line.  


If its not too personal - how much do you guys earn at home per hour/week?


THanks so much!  Joanne 


Poll: Earnings vs Expenses

1.  What are your monthly earnings -- just you (no spousal income) -- doesn't matter how many jobs....monthly earnings?


2.   Do you work more than one job?


3.  What is your base line rate?  If you have more than 1 job, list all base rates.


4.   Now what is the minimum bring-home pay you need to survive each month?  This is your housing, energy, transportation, insurances, food -- what you have to have to make it. 


5.   What's the difference?  Are you in the hole?  Got surplus?  Breaking even?


My answers:


1.   About $3100 each month.


2.   One job.


3.   $0.095 cpl plus some incentive bonus each month.


4.   $2287 gets everything paid.  Savings and pocket money not included in that figure.


5.   Surplus but not much.  Trying to save as much as possible and have a few greenbacks in my wallet each week. 


 


 


You only have to report earnings over $300 on a 1099 form.
Most people don't want to mess with it, so they don't report it. I don't think it's right. I know of people who are selling things on Ebay, parting out cars or doing construction for income, but they still collect unemployment, social security disability, foodstamps, utility payments, and welfare. It's not fair. Those of us who work hard and follow the law do with less while other people cheat the system and live high on the hog. Their kids have designer clothes, $50+ shoes and the latest electronics.

Yes, I've reported it for babysitters before.
With state and Federal, you 40% of your earnings GO, bottom line.
I don't know what's up for debate, it's fact.

Housing prices have gone up 40% in the past year alone in California.
That should be 15% social security of your gross quarterly earnings also. n,

:


why no, i don't live in snobville. did you think you knew me? i live in heritage hills a suburb
it takes a little longer to get to work and shopping but thank god i have some privacy and am away from the congestion.  lovely trees and lakes all around.  maybe about 20 minutes to a large shopping mall.  but no, i don't even know where snobville is.
It is irrelevant what percentage the service takes of 'your' earnings...sm

what matters is: is it worth it to you to work for that rate? On some accounts, my IC's might make only 50% of what I charge the client, on others they might be paid 80%. For one physician, I might charge 12 cents a line - if another calls, says they are in a jam and desperate to get their backlog done, I might bid it at 14.  But if you are satisifed with say 8.5 cents a line, it doesn't matter if your MTSO charges them 9.5 or 19.5.


As far as line rates to physicians, again, it depends on what the market will bear. You could call local physician offices and tell them you are an independent MT service and you are getting price ranges for the locality, and ask the OM what they are paying. That would give you an idea of what is competitive. In West  Virginia, they might be charging 18 cents per line, in Chicagoland they might be charging 11.


 


The line rate


My earnings are very similar to shipaddict. Really good week I can top $1000 but rarely. nm
;
why yes the quality of air where i live is quite different than where the city people live.
Lots of pollution.  That's why everyone is moving away from the city and areas zoned for multiple housing units and low income housing and trailer parks.  Population is dense and near manufacturing.  So yes, the air is different but millions of people pay a little extra for the quality, the space and privacy afforded to those who move out of polluted crowded areas such as you defend.  There is always a reason why some areas and housing is cheaper than others.  Maybe it is the air and maybe it's something you can't quite put your finger on but you know you would prefer not to live in certain areas.  You know what I mean or are you living in one of those areas?  They tell after awhile you block out the sounds, the smells and get used to the pollution.  I don't know.  I didn't stay long enough to test the theory.  My mental and physical health is way too important to me. 
I know they live a long time, so if there is a chance they will out live you - sm
make sure you make provisions for them in your will. I have only had cockatiels and some finches, so don't really know anything about the bigger birds. I love African Grey's but they are very expensive.
Live and let live. Don't force your lifestyle on me.
x
I used to live in MN now I live in MS and they were both cold last night!
Will take MS cold over MN cold any day, and I don't miss the snow. I miss the Mall of America, though!
I live in PA, can I help? If they are close to where I live, I would go check them out for ya!
Where in PA is this company?
You must live where I live. I ran into the same sort of SM
situation when I was the president-elect of the local chapter and the VP-elect of the state chapter. I bailed out. There was no fighting it.
LOL! Don't live in NH. Live in ConnectiTAX. LOL NM
NM
Can you live on 7.75 cpl or do you need 9.5 cpl. If I could live at the lower, that is what I
:+
Each state has different laws. Where I live, if I have clients in the same state I live in, yes I ne
have clients from another state, no I do not need a license. Every state is different. I checked with my attorney and the State Business offices.
save it for another day
Yes, I agree with you, but apparently some people are unable to NOT be rude, so I have decided to give it up for today..... it just takes to much energy to argue. Not to mention, they can't even grasp the fact that you and I are two DIFFERENT PEOPLE................. so, there ya go.

oh, and bye the bye, in the churches I grew up in Amen was a form of agreement.
Can you tell me how you save your
that it cannot be saved. I'm sure this is a no brainer and I'm making it worse by thinking too much about it - any help would be appreciated.
Will somebody save me?

Hi, deep trouble here.  Reorganized under my desk (bad mistake, I guess, although the cords are nice and lined up now) and when I plugged the C-phone back in it went crazy and now I get dial tone from handset, but that is all.  Can't find the manual after searching for hours.  Anyone know what might be wrong or if I need to reprogram this thing?  I went to their website, but it is down at the place where you sign in.  Of course!  Can't work, so need as much help as I can get.  Thanks in advance. 


 


Nana    


Even if you save yourself a
template, you still listen to the entire report and change the words as necessary. You don't leave it if that's not how it's dictated. Setting up your own template saves time & Keystrokes because a lot of times you will have entire sentences or sections the same, but you still must ALWAYS listen to the entire report & make any and all changes.

In addition to OPs, I also make macros for PEs, ROSs, etc., for dictators who usually are repetitive.
I always use RXList. com on the web and save
paper that way:)
Did you save the sound
Did you save that sound file on your computer? That has surely got to be a first!!
did you try to hit F11 anyway? Usually you cannot see them after you save the document.. but they a
nm
Do yourself a favor & save yourself a ton
of grief. Get a reputable real estate agent and don't screw with these FSBO agents.  I promise that all they will do is take your money and won't really WORK to sell your house. That's the difference.  A REPUTABLE agent will work their butts off to sell your house.
It will save the phrase but not
the bold, does not come out bolded.  What else can I do?
Then seriously, save it to your desktop. That's it.
.
save it to a disc
nm
Save and print
I print and deliver, save on hard drive for one year and then on CD or zip forever it seems.  Finally went through and threw out files from 10 years ago. 
Is there someway to save something
like the end of a letter. i.e. Thank you for the referral of the patient. Sincerely, Doc's name etc. He ends all his letters the same way. My niece said that somehow I could put that in my computer and just push something like F7 and it would automatically print that. Have any idea about this? Thanks!
Save as option
I do not use Word, but is there a save as option? From there it may give you options as to what type of file to save as. I think if you choose something like a text file, it may get rid of formatting, but not sure.
try save as and change to .wav

The answer is yes but always save
your files before you do any upgrade just to be on the safe side. You can open 2003 documents in 2007 and they open just like they always have. Word 2007 opens them in compatability form but that is not something you see its built in to the program. However, unless you save your documents as "Word 97-2003 Document" (already built in to the options of 2007 when you click save as or you can set it up to always do that) anyone else without 2007 will not be able to open them unless they have the compatability patch. Same with Excel documents.

I have both intances of 2003 and 2007 running on my computer and can swtich back and forth without any problems.

Feel free to email me directly with any other questions.
Tried that... and still doesn't save right or
load for my autotext. :( 
I think the advice you got to get it, try it, save the
receipt was good advice. What do you expect. How rude.
Did you save any of the e-mails

If so, then just include that with a nice letter to your past employers about the fact that your working arrangement did not work out. 


If that doesn't work, you may want to see if there is a way to sue her for defamation of character.  She has to have good grounds to be calling your previous employers.  Was this the lady at Seascript?  She seemed to have some problems, but I think she was getting help.


Save what? The normal.dot?
If you checked the option to prompt you to save the normal template, you will be asked if you want to save changes that affect the normal.dot. This can be formatted AutoCorrect entries, AutoText entries, macros, toolbar changes, and a few other changes.

If you clear the check for the prompt option, changes will be saved anyway and you will not get the message.

Or are you being asked to resave the normal.dot to another name? If that's the case, you have a problem.