Some GREAT info for MTSOs and ICs........

Follow these tips on invoicing and collection procedures so you can get what you deserve--your payment.
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Admit it: What entrepreneur hasn't felt like screaming obscenities at a late-paying client?

Who can blame you? In the otherwise nirvana-like world of the homebased business owner, getting paid is probably the biggest hassle of going solo. In the corporate world, whether you complete a project or not, you know you're going to get a check next payday, just like clockwork.

But when you run your own business, completing a project and getting paid for it are two completely different entities. Thirty days, 60 days, even 90 days go by after you submitted your invoice, and still no check. Demonic possession sets in as the weeks roll by.

"It's more of a problem today than it was 10 or 15 years ago," says Bennie Thayer, president and chief executive officer of the National Association for the Self-Employed. "We're becoming a nation of late payers as heavy debts force businesses to pay some bills one month while others are held over to the next."

So how can you speed up the payment process? Here are some strategies that successful entrepreneurs have been using for years to get paid on time:

Sign a contract. This may seem obvious, but it's critical if you want to set payment terms upfront. Too many small-business owners rely on verbal agreements when taking on work, and that's especially true for nascent homebased business owners, who are so happy to get the work that they don't want to jeopardize things by being too "demanding" of their new clients. That's a big mistake. Get a contract, and make sure it outlines the project and includes a provision of when you'll be paid. If the agreed-upon date passes, call your client and diplomatically point out that the due date for payment has come and gone. Then ask for an overnight delivery of the check if possible.

Shorten your billing cycles. While most vendors take 30- to 60-plus days to pay up, there's no reason why you can't add a line into your invoice that reads "Payment due within 14 or 21 days," including the specific date. That way, you have reason to call your contact at the client's office sooner rather than later to check on a payment. Once a client hears you say the check is late, that's usually enough to warrant a call to accounting and the likely processing of your check.

Rethink your invoices. Are your invoices too generic, too safe? While all invoices should include the client contact's name, the order number and the date the bill is due, don't stop there. Add a 5- or 10-percent penalty for late payments. Check and see if the client has a "favored vendors" list and then see if you can get on it. When you do, add your vendor number to the bill. And always list the project that you worked on�some clients simply need their memory jogged.

Get money upfront. As a writer, I've had good luck getting up to half the project fee paid upfront. Asking for an advance may seem "uncorporate" at first to some clients, but you're operating in a different world than your client. Positioning the request as a good faith gesture is a strong strategy. Chances are, you'll get it if you ask.

Join a union. Remember, there's always strength in numbers. So even a solo graphic artist or food caterer needn't go into the payment battles alone. Hundreds of unions exist that can help you track down deadbeat clients and get paid. Clients may snicker at a lone business owner, but they don't like facing down unions. Check your local chamber of commerce or log onto the SBA's website for more details.

Hire a bill collector. This is a real last resort. Once you hire a bill collector, the chances are remote that you'll ever work with the client in question again. Then again, if you're payment is seriously late (90 days or more), why would you want to? Collection agencies will garner anywhere from 10 to 50 percent of the payment fee, but at least you won't go home empty-handed. Bonus: The Better Business Bureau tracks late payments through collection agencies and documents them. So your diligence may keep others away from a deadbeat client.

Small claims court. Okay-a last, LAST resort. For $25, you can take your deadbeat client to small claims court. Payments in question are usually less than $15,000 (check out this site for the limit of what you can sue for in your state), but you don't need a lawyer, the hearings aren't that complicated, and you'll have justice on your side. Check your Yellow Pages under "local government" for help.

Remember, getting paid is how you pay the rent. It's your money, not the clients, and you've got a right to it. Don't be afraid to fight aggressively for what's yours.

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The actual doctors don't want to pay more than minimum wage for transcription either. As an independent, I've had doctors balk at 12 cpl (which is BELOW what the MTSOs are getting, believe me) and I've lost business because I wouldn't take $6 an hour or what equated to 7 cents a line.

So where am I at? Making peanuts working for MTSOs who are getting 15+ cents per line as a middleman for these same kinds of physician while I'm making a paltry 7-8 cpl. It's a no-win situation.

no, I'm not one ... just throwing a coin into the playing field ...

Wouldn't having only ICs working "for" a company mean less liability. IOW, if MQ phased out the SE status, could that take a potential monkey off their back?

OTOH, they can hire all the ICs they want, but if those ICs only work for MQ, they're still considered SEs ... correct?

There's a great online resource for MTSOs of all sizes, varying benefits and pay, and variety of work. It's called www.MTJobs.com. Sign up to be on their mailing list. There are usually at least 50 companies listed on each newsletter, which comes out twice a month. Good luck in your search, and prayers for God's healing of your medical problems. :)

Need to get my own account/s instead of relying solely on the national (guess who). Getting a client in my area is probably the easy part. The hard part is the logistics of software, paper, etc. Not having dealt with this stuff working with a national, it is the *simple* things that are a mystery to me (and others, I suppose). I hate to even inquire about transcribing for someone, not knowing what equipment I will need, what software, kinds of paper. I am sure I would come across as an idiot (like right now, maybe?)

OKay, well, I looked online at Dictaphone and it looks like there are mini, micro, and standard cassette units (not to mention digital online programs), so I guess you WOULD have to find out which the client prefers before investing in one, and I know you can get them on EBay, but what else? Does the software come with the transcriber? I don't suppose you can type them out in Word? I suppose one can buy a medical spellchecker. Then you need paper if you are going to print them out...what kind? Anything else? There are so many variables. I suppose I should first contact the two MTSOs that I know locally and ask for overflow work. That way, they could help me learn about this stuff.

No slamming, please. Very sensitive tonight as I just received a call from my Supervisor, very nicely hinting that I need to bring my line count up but, as we talked and now, hours later, I have *no jobs* on my screen. Pretty hard to get that line count up with no jobs!

I have been a Transcriptionist for 14 years and I am looking to become an Editor. I have experience in many specialties. The problem I have is most places want an experienced Editor to fill their positions - how do I get a chance to become an Editor without any experience. I have asked my company that I work with now about a position but they too want an experienced Editor. Please help! My poor hands need a break. I love transcription field and want to stay in it. I am just wondering how long my hands will hold out. I have every resource that I need for the position - last year I bought the COMPLETE set of Stedman's reference materials because I know how important it is to have good, reliable reference materials.

Any and all information would GREATLY be appreciated! I am just looking for a company that will be honest with me as I will be with him. I am easy to get along with but would really like a chance to go in this direction.

I had my meeting with the office manager of my new account. With the system I use now for my other account (Word-based), the front desk receives my completed transcription via a secure transfer program, downloads it, and prints it.

The problem I have is the new office wants eight computers to have access to the dictation. With the way things are now that would mean all eight would have to download the transcription in order to have access to it. This would work, but I do not feel it is the easiest thing for them to do and I want to retain this account, so I want to find something that is easier that would allow all eight to have access to the dictation.

I believe what I�m looking for is something more like a web-based program where I could upload the dictation and then the eight people could have access to the dictation that way. I�m not familiar with FTP sites or what other options are out there. What I need is a way to transfer my files to the office where all eight people/computers could have access to it, make any changes if needed to the dictation where all eight people would then have access to the final dictation. Does anyone have any ideas? I�m totally willing to put a little money into this, but I just don�t know where to begin. Are there any MTSOs out there who use a program that sounds like it fits my needs or any ideas to guide me in the right direction.

Experienced MTs are worth their weight in gold because they can produce and produce fast.

An inexperienced MT needs to be molded and shaped and in no way can produce the amount of work an experienced MT.

Just in those two sentences I've summed up my opinion of this industry at this stage in the game with formal training way before AAMT came about and producing quality documents.

All of this hogwash you've typed is a waste of time. Offshoring is going on because it's cheap labor and not because they're good or put forth effort.

The amount of knowledge and skill comes from transcribing real documents by real dictators and not by books or prefab practice sets.

This is all, of course, JUST MY OPINION! I'm making loads of money in this field because I have the skill set and the only feedback I want is from the physician himself! Thanks and have a nice day!

I'm curious (for those of you who wouldn't mind posting anonymously) what do you charge for various types of transcription services?