You make 25-30 an hour by letting the editor do your job for you dumba$$!

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When you are an independent contractor, you have to pay ungodly taxes just to start out with.

You have overhead etc.

So say you need to make at least $10 an hour (my gawd you can make $10 an hour at WalMart! running a cash register)....

anyway, if you want to make $10 an hour after taxes and overhead -- then you need to be charging at least $30 an hour. 

Now how long it takes for you to produce $30 an hour worth of work is yours to figure out.  If it's difficult work, you better charge a lot more than 7.5 cents a line (at 65 characters per line remember!/not 80 or 90 characters)

If its easy clinic work or ER work, then charging something like 12 or 13 cents a line would get you about what you need.

If its difficult work from a medical records in a hospital where you have op notes and tons of docs, you need to charge probably 15 to 20 cents a line.

There are so many hidden costs that docs don't want you to remember.

Those down times when your computer gets fried.

New programs, updates (again down time plus cost of updates)

New computers because everything goes out of date and you can't fix the computer because nothing is compatible anymore.

The updates on the internet costs - faster speed - the increase in costs from the internet company.

You get sick and just can't type - or family is sick.  There is no sick time to draw from -- you just hope you have some money saved - which you can't save if you are charging 7.5 cents a line as an IC.

Getting the picture yet?

Then there is the fax machine you probably need to be a proper business and the cell phone for when they just have to contact you.

The heat and a/c to keep you going at home that would not be running if you were at an office all day. 

I know the going rate in our area is 14 cents per line.  As MTs most companies here pay us 8 or 9 cents a line.  Now add in the Editor rate at 4 or 5 per line..you are paying OUT more than you can charge a line.  How would companies stay in biz?

Unless all work is sent by the company overseas at pennies per line, this would not pay for a company.

just curious how this works out

I grunt it out to make 10 bucks an hour.  If I worked just the ER account, I would definitely make full time money for part time hours.

Durn second account.  :}

but I am wondering if you are doing full QA.  By the line is NOT fair pay for QA.  I know I mentor new MTs on a very difficult account and there is no way you could earn a decent wage on any amount of line pay, no way!

Don't go telling someone they could do better if they are paid by the line.  Quality specialists MUST have ethics in their work.  You can do a decent amount of reports a day and give feedback and mentoring, but you certainly would not be earning $25 an hour on line pay that I have seen....just no way!  The most I have seen QA paid is 7 cents a line and still those women do not average that amount. 

Now, I don't know what you do or if you listen 100%, but most QA positions I have had have had megablanks, 100% listen as well as 100% feedback and you just cannot produce that much doing your job in a proper manner.

I have two accounts of my own and do vacation coverage for a few other MTs as well as occassional work for a lawyer and a psychologist.  I charge .15 for one clinic and .17 for the other clinic... clinic #2 is a husband/wife neurologist team, and the husband was a major A&& at first... with a very strong accent and every possible bad dictator habit you can imagine.  I told wife I would transcribe for her, but not for him, I had plenty of business.  She said charge whatever you want, have whatever turnaround time you want, just please don't leave.  At the time they were at .12... so I upped them to .17.  That was 5 years ago and now after having gotten to know him and his *quirks* I adore them both.  I am an IC, but they give me very large gift cards for Christmas, kind of in lieu of a bonus, I guess. 

Clinic #2... just this week took on another physician and I told them point blank it was too much for me to provide quick service and they may want to consider a service.  They said no way, we changed the turnaround time to one week with stats as needed.  I even asked them if they considered voice recognition and the office manager laughed and laughed. 

I am just now putting both clinics on digital, and after the initial cost, this will increase my estimated hourly wage as it will take away my delivery time and cost, and my paper and ink printing cost and time.  Though I still plan to visit each office on a regular basis for customer service and because I know my customer service is what got me here in the first place.

For the *occasional* work, the lawyer and pysch I charge $50/transcription hour. 

I know you will all doubt me.  But I work extremely hard, have put in my time with my education - not just learning MT but learning the ropes of running a business and how to do everything smarter, faster, and in the most efficient and sensible way possible.  I also have another business I do in a totally different field!  I am very blessed.  Well, I also know the fields I have chosen were perfect for me, and also I've had good luck.  You know what I think though?  I think my sense of humor and just being as honest and open and observant as possible has made this possible. 

on both sides of the fence.  Yeah, I know the consequences and the possiblities.  I live with them every day.  I guess I have not been as good a planner as many of you have been.  It kind of snow-balled me before I could get a grip on it.  I think not having a good tax guy for 10 years did not help.  But any solutions to getting out of debt with the IRS would be greatly appreciated.  Like they say Two things are for sure, death and taxes.  No way around either.  I have heard that some people cheat the goverment every year with not reporting income and stuff and never have to pay nothing because they make a living under the table.  The penaty I get for reporting and filing and having a husband that works a good job is garnished wages and liens.  No one wants to work out payment plans that you can live with.