Some people will tell you that there are many medical transcription opportunities around, others will tell you that there won’t be many in the future. Who do you believe? Let’s start with looking at some figures. According to the projections by the National Employment Matrix, USA, there will be a 14 percent increase in the number of medical transcriptionists in 2016 from 2006. Apparently, the growth rate in medical transcription jobs is more than the average of other occupations.

So, what exactly would cause the number of jobs to increase? Well, the world will need medical records for as long as it has people and health concerns. And it will need transcriptionists for as long as it needs these healthcare documents.

If you have heard about medical transcription, you must have heard about the speech-recognition software, a potential threat to the livelihood of medical transcriptionists. Well, the truth is that doctors find it tedious to work with the software. Even after all that work that goes into this, the software doesn’t deliver accurate results. This requires human intervention to make changes and deliver a good medical record. The software has failed to replace the human transcriptionist. However, it has become an aid to the transcriptionist.

How much does medical transcription pay? Well, according to Occupational Employment Statistics by the Bureau of Labor Statistics, the mean hourly wage of a medical transcriptionist is $15.84. The mean annual wage of a medical transcriptionist is $32,960.
A medical transcriptionist can earn anything between 6 cents and 12 cents per line depending on his/her level of expertise.

If you would like to learn more about medical transcription, let us know.