Medical Transcriptionist
Are you familiar with computers and have a fast typing rate?
If so, then starting up a medical transcriptionist home based business might be just what you are looking for.
This particular home based business does however require a little training before you can dive into the profits and luxury of having your own home based business.
However, this shouldn’t steer you from your hopes and dreams of acquiring your own medical transcriptionist business because the training and know how can easily be found and obtained… we will go over this shortly.
Equipment Needed
A home based medical transcriptionist business can be very simple and inexpensive with your materials for start-up being materials that you probably already have at home.
The tools that you will need to start your medical transcriptionist business is a computer, a word processor, a printer, headphones, a wave player program or audio program, a foot pedal, a transcriber or special type of phone to call in dictations, and many various types of reference books.
These types of books include a medical dictionary, medical terminology book, lab word book, drug index, as well as specialty reference books such as books in cardiology, pathology, pediatrics, geriatrics, podiatry, medical and surgery equipment, etc.
Reference books will become very handy in this line of work because you will be using a lot of medical terminology when you are writing out your reports for doctors or other medical facilities.
Licensing
When it comes to licensing that will be needed for your medical transcriptionist business you will need a few things.
First and foremost you will want to check with your local government office to see exactly what licenses or permits are needed in your area to start up your small home based business.
They can also tell you if your area has particular zoning laws or any other legalities that are required for making your home based business a legitimate one.
You will also need an errors and omissions insurance that most employers require in this line of home based work.
You will also need a professional liability insurance and both insurances will be placed at the end of your business name with the letters LLC showing that you have all the necessary insurance required for your particular business.
Additional Education
Other than business licensing you will also need some training in the field of medical transcriptionist.
This skill can be easily obtained within 6-8 months and courses can be easily found online as well as at your local community colleges or vocational schools.
Courses are usually very affordable and most courses you can choose to work at your own pace.
Although you will need to keep in mind the more time you take in obtaining your skills the longer it will take to start up your business.
After you have completed one of the many training courses that are offered you will receive a certificate of completion.
This will be a handy tool to have when you go to present your business to doctor’s offices or other medical facilities and should be listed on your resume as well as on your business cards also so that your potential clients will know that you have had training in medical transcription.
Keep in mind that the training is only a small amount of time to obtain compared to what you will make in the long run when you start your home based business.
Transcriptionist Duties
You will need to take in consideration that you will be typing out many reports, reports such as x-ray reports, clinical notes, laboratory and pathology reports, history and physicals, discharge summaries, psychiatric evaluations, consultations, and emergency room documentations.
All of these reports will be placed in a patient’s medical record. These are very important documents and have no room for error.
You will write these reports from recordings or dictations from various physicians. Transcriptionists can receive their dictations many different ways.
Sometimes a physician will use a call-in digital system and the transcriptionist can call in using a special phone, such as a c-phone, to retrieve the dictations to be transcribed.
Sometimes a tape will be used and can be played back by using a transcriber machine with a foot pedal, which will both fast forward and rewind a dictation.
A physician may also use voice files through a digital recorder and the transcriptionist can receive the voice files and then transcribe the report or medical documentation needed.
This is where your medical terminology will be needed. So keep your reference books handy.
Advertising & Marketing
As for marketing and advertising your business you can go about this a couple different ways.
You could first go from doctor’s office to doctor’s office giving your business card and offering your services.
You can also do this with other medical facilities as well as hospitals.
These are the quickest and easiest ways to getting your foot in the door as a medical transcriptionist.
Another useful way you can advertise your home base business is by creating fliers, business cards, brochures, or small advertisements is your local newspapers, classified ads, and shopper’s guides.
This will get your services out to the public and to potential employers.
In your advertisements you will want to mention what services you will be providing as well as your previous work experience and training that you have received.
This will give an employer more of a benefit to hiring you for your services.
Before long your business will be out in the open and you will have medical facilities ringing your phone off the hook begging for your services.
Realize that this is very highly demanded in the medical field.
Every physician has to have their reports transcribed, which makes you and your business playing a very important role in the medical field.
Pricing
So how much should you charge for your medical transcriptionist services?
Generally a medical transcriptionist will base their fee per line.
Normally a transcriptionist will charge 12 cents per line.
A good transcriptionist should be able to easily manage up to 1000 lines per day giving them a daily income of up to $120 a day.
This is where fast typing skills will play a big role in success for your transcriptionist home based business.
Keep in mind that the more lines that you transcribe the more profit you will see shooting towards your bank account.
On average a transcriptionist can make anywhere from $30,000 to even $50,000 a year, all from the comforts of their home.
This however does depend on the rates that you turn work as well as productivity.
Some transcriptionists can make profits of even $100,000 a year.
So the sky is the limit and is up to you on how much you want your business to revenue.
Realize that commonly reports will have to be turned with a 12-24 hour window to transcribe the report and send it back to the physician.
So, remember to stay focused and work diligently.
A medical transcriptionist home based business is a great business to start and can lead to a steady full time income all from the comforts of home.
Follow these steps and you will be on your way to having a successful and profitable medical transcriptionist home based business!
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