Medical Transcription Earning Potential

If you're like me, you're going to ask "how much money can I make?".  Good question!  From everything that I've learned is that there is money to be made in this profession.  Lots of money.  But, there are keys to making money.  Personally, my goal is to be an IC (independent contractor)  so I feel that the ball is in my court.  So, the question becomes, how much do I want to work?  I like to think of this in the analogy of an athlete.  Repetition, Repetition, Repetition, Practice, Practice, Practice.  It takes work to get better, faster and to excel at what you are doing.  An athlete at the top of their game never needs to be told of his/her mistakes, they know what they have done wrong.  I see myself excelling in my career in the same way, with no barriers on my earning potential.  

But, in fairness, this is what the experts say are the potential earnings for a medical transcriptionist. 


Rate of pay will depend on onsite or online employment. Although onsite employment offers an hourly rate, experienced medical transcriptionists find online, production based pay to be more attractive due to the fact that they are paid exactly what they are worth.

Onsite medical transcriptionists are paid on an hourly basis. Doctor’s offices typically offer $12 - $14 per hour to start. A hospital usually offers at least $19 per hour to start.

Online medical transcriptionists are paid based on production. The industry standard for a new medical transcriptionist working online as an independent contractor is between approximately 6¢ - 8¢ per line to start. It usually takes a fairly solid 3 – 6 months to raise production levels and gain enough experience to make a decent income online. As there is a steep learning curve in anything new, production-based pay is often not great until you have gained experience and that is when you would really see your production start to pick up. You should be able to make at least $20 per hour at approximately 1-2 years of full time online experience.

Credit: CanScribe

Why I Chose a Career as a Medical Transcriptionist

Living, Learning, Dreaming

I was asked 2 1/2 years ago where I thought I would be in 5 years from now.  Shortly after that, I wrote a business plan and started my own social media marketing business.  That was my introduction to a stay-at-home career.  And I loved every minute of it.  I haven't given up on my business and in fact I'm also doing some contract work.

But, I want more.  I went online and was very diligent about my research to find out what I was missing out on.  I did not want a "job", I wanted a "career".  If I was going to invest my time and money I wanted to make sure that I would have a career when I completed my training.  It was also important to me not to chew off more than I could handle so that meant finding a career that was in line with the skills I already possess.

Once I made my decision that a career as Medical Transcriptionist was right for me, my next step was to find the right school.  After reading a lot of blogs and forums I decided on CanScribe.  I started the program 2 1/2 months ago and although it's not an easy program, it's definitely the right choice for me.  As a Medical Transcriptionist it's exciting to feel like I am contributing to the healthcare system and at the same time educating myself, which will no doubt, be valuable for my family and myself.

Now, getting back to the original comment, "Where will I be in 5 years?"  At the time I laughingly responded that I will be sitting on a beach, living in the sunny south, working from home, with my own business.  Hey, a girl can always dream!  Now, I feel that my dream may just become my reality.  Because, once I'm fully qualified all I need is a computer, secure internet connection, foot pedal, and headset. In my dreams, I can do that in the sunny south by the beach!

Follow me on Twitter!