MT FAQs -  Medical Transcription Questions Answered

“Employment of medical transcriptionists is projected to grow faster than average for all occupations through 2014. Demand for medical transcription services will be spurred by a growing and aging population.”

U.S. Department of Labor

Bureau of Labor Statistics

What is Medical Transcription?

Medical transcription is the transcribing (typing) of medical records.  When a patient is seen by a physician the visit needs to be documented in the patient’s medical records.  The physician will dictate a report corresponding to the visit.  The medical transcriptionist then transcribes this report which is then placed in the patient’s medical records.

How do I become an MT?

You can either take a course at your local community college or learn through a home study course.  The route you choose will depend on your learning style, time and financial commitments.  Applied properly, either method is sufficient to become a trained medical transcriptionist.

How much will I earn?

MT earnings will vary depending what part of the world you live in

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.

Self employed MTs will earn a higher rate.  As a self-employed business person you are, however, responsible for paying your own taxes, medical insurance, benefits, etc.  However, many expenses can be deducted (ask your accountant for more information).

Keep in mind earnings for MTs vary depending on where you live, specialty of work you transcribe, whether you work in a clinic, office, hospital or are self employed.  However, through networking with other MTs and my own experience as a business owner, I can say earnings for MTs with their own businesses can range from $25,000 a year to $200,000 a year and over. 

This is an average amount for informational purposes as it’s difficult to pinpoint an exact average.  All individuals have different business goals.  Some MTs are happy to work for themselves and earn $25,000 doing what they love.  Others will go on to build a thriving business with big earning potential.

How do I find new accounts?

There are a number of different ways to find new clients for your MT business.  Sending letters, passing out business cards, word of mouth, creating a website, writing press releases, telephoning physician’s offices are all proven ways to find new accounts. 

How fast can I become an MT?

This will depend on which course you take and how fast you learn and apply yourself. 

Expect to spend anywhere from 8 months to 2 years. If you’re a fast learner, have some experience in the medical field, good grammar skills, fast typing speed and lots of common sense you can be working in as little as 5 or 6 months through a home study course. 

Keep in mind courses at your local college may have a set time frame in how fast you can complete your MT training.  If you’d like to learn at your own speed than a home study course may be the option for you.

How fast do I need to type?

This, again, will depend on the individual.  To be efficient as an MT, you will need a typing speed of at least 70wpm.  Some MTs type as fast as 120wpm.  In medical transcription, the faster you type the more you earn (this applies if you work at a per line rate rather than per hour). 

If you’re not a very fast typist, please don’t let this stop you from becoming an MT.  I’ll let you in on a little secret.  When I first started my MT course, I had no real keyboarding skills whatsoever.  In fact, my typing speed was the lowest in my class… embarrassingly low.  With a little training and practice, typing speed is easy to improve.

Will I need to build a website?

You do not need a website, unless you choose to have one.  However, many MTs as well as other business owners are starting to realize the importance of a web presence.  A website can only help in presenting a professional image.

Will I work from home?

You can choose to work from home as a business owner with your own accounts or work from home typing for another company.  Some national companies will give you the choice of being either an employee at a lower per line rate or you can choose to be self employed for a higher rate.  If you are self employed you will be responsible for your own taxes and benefits. 

You can also choose to work at a physician’s office, clinic, hospital or anywhere hiring MTs.

Some MTs do both, work an hourly job outside the home and take on small accounts on the side.  Medical transcriptionist is a very flexible career, where you can truly be in control of your own earnings.

Is medical terminology difficult to learn?

It depends on your background and how fast you learn.  On the whole, I would say no.  Every medical word is broken down into two parts.  A prefix (the first part of a word) and a suffix (the last part of a word).  The prefix and the suffix are then connected by the vowel “O”.  This is the basic structure to medical terminology.

You will, therefore, learn medical terminology prefixes and suffixes.  You can then use these by combining them with the vowel “O” to form many different medical terms.  Here is an example.

Medical Term - Dermatology

The breakdown of this word would be Dermat = prefix meaning pertaining to the skin, o = connective vowel, logy = suffix pertaining to the study of.

The meaning of this word is the study of the skin, dermatology.

Once you get the hang of this and know all your prefixes and suffixes it’s fairly straightforward. 

How can I test my typing speed?

There are several free resources online where you can test your typing speed or you can order a typing software program to help you test and improve your typing speed.

What books will I need?

You will need an English dictionary, the AAMT style guide, medical dictionary, a medical abbreviation book, an updated drug index, and a pathology book to start.  As your business grows you can invest in the relevant books as necessary

The Stedman’s range of books is excellent and they cover a wide range of specialties such as Cardiology, Pathology, Dermatology, etc.  The Stedman’s medical dictionary is a must have as well.

Saunders’ Pharmaceutical Drug book by Drake & Drake and the Quick-Look Drug book are great resources for finding medications.

Many home study and college courses include the basic medical books and/or a list of books you will need.  If books aren’t included in your course, you can always buy these second hand or simply add to your library a little at a time.

What will I need to learn?

You will need a good grasp of grammar and the English language, type at a reasonably fast speed (70 wpm or more), medical terminology, and some anatomy, physiology and pharmacology.

Your course may also cover things like working from home, filing taxes, how to invoice clients, and various other extra topics.

How do I deal with a difficult physician?

Dealing with physicians is not much different than dealing with people in general.  You do need to keep in mind doctor’s are busy people.  They are often stressed and overworked.  They also have the ultimate patient responsibility on their hands and they are the ones who will give final authorization of your medical transcript. 

Most doctors are reasonable and fair.  There are times when doctors, just like any other person, will get upset for some reason or other.  The best way to deal with this is not to take it personally and remain professional at all times.  If a doctor is less than pleased with your work, then remember he is the customer and in business you should aim to please your customer.

Always place yourself in the position of the other person and try to understand why they are acting the way they are.  And keep in mind it is not acceptable to tolerate abuse under any circumstance.  However, there is a fine line between abuse and someone just blowing off a little steam.  Again, try to see things from the other person’s perspective before jumping to conclusions.

How often should I invoice my clients?

This will have to be decided between you and your client.  In most cases, it is standard to invoice twice a month, once on the 1^st of the month and the other on the 16^th. 

Do I hire employees or contractors?

Most MTs hire other MTs which are self-employed contractors.  There is no need to take on employees and be responsible for benefits, taxes, etc.  Your contractors are in business for themselves.  You should have a contract in place explaining you do not guarantee a set amount of work (unless you want to).  The contract should also state they are self employed and you will provide them with a 1099 form at the end of the tax year.

It is your responsibility at the end of each financial year to provide your contractors with a 1099 form so they can file their taxes. 

How do I register my business?

It’s very straight forward.  Contact your local City Hall and find out the specific requirements for your area and file an application with them.  They will answer all your questions in terms of fees, how long it takes, etc.  This varies from state to state.

You can also contact a recommended accountant and they will file the necessary paperwork for you and apply for your license. 

It usually takes about 2 weeks.

How do I get my business online?

Nowadays, it’s fairly easy even if you don’t know HTML (computer language).  There are several programs that make it easy and are extremely affordable.