While there are a plethora of rewarding careers within the medical field that an individual could choose to pursue, opting to become a medical transcriptionist can be particularly rewarding. In many cases, individuals who are interested in becoming medical transcriptionists want to know more about what type of salary they can expect to earn within their chosen field. By reading the data found in the subsequent paragraphs, you can attain an answer to this important question and several others that pertain to the world of medical transcriptionist.
The Basics
Medical transcriptionists are individuals who listen to the voice recordings provided by physicians and other healthcare representatives. In addition to converting these medical transcriptions into written reports, medical transcriptionists may also be responsible for reviewing and editing the medical documents through the use of speech recognition technology. Finally, medical transcriptionists may be responsible for interpreting medical abbreviations and terminology in order to prepare a patients' discharge summary and/or medical history.
Salaries
According to the U.S. Bureau of Labor Statistics, the average annual salary for a medical transcriptionist is $34,020. However, it is important to note that a variety of factors can affect how much money a medical transcriptionist can expect to earn. Some of those determining factors include areas of expertise, education, and job location. For example, a medical transcriptionist from Ohio can expect to bring in about $30,000 annually. On the other hand, a medical transcriptionist from Nebraska will typically earn around $23,000 each year.
Lowest and Highest Medical Transcription Salary
Studies indicate that the lowest salaries for medical transcriptionists total $23,000 annually. On the other hand, the highest paid medical transcriptionists can expect to earn more than $47,000 each year. In some cases, medical transcriptionists can earn more than $60,000 annually.
Top 5 Highest Paying States
There are five states in which medical transcriptionists can expect to earn exceptionally high salaries. At the top of the list is Massachusetts, which offers a salary of $45,730. Next comes Alaska, the state which offers a salary of $44,960. California is third, offering medical transcriptionists an annual income of $44,770. The District of Columbia takes fourth place, offering a salary of $43,720. Connecticut comes in fifth place, providing medical transcriptionists with the opportunity to earn $39,840 annually.
Top 5 Metropolitan Areas
If you are thinking about becoming a medical transcriptionist, you should note that there are several metropolitan areas which are considered economically ideal for this type of work. San Francisco is number one, offering an annual wage of $52,950. Salinas comes in second, providing medical transcriptionists the opportunity to earn $52,610. Next is Oxnard-Thousand Oaks-Venture, at $51,980. Then comes Boston-Cambridge-Quincy, MA NECTA Division at $49,830. Finally, Brockton-Bridgewater-Easton, MA NECTA Division with $49,510.
Other Considerations
Although learning as much as you can regarding the type of salary you can expect to earn as a medical transcriptionist is a good idea, you should note that there are a wide variety of other factors you should consider when determining whether this would be the ideal career path for you. Some of the factors you should consider include:
- Work Environment
Generally, medical transcriptionists work in the hospital setting or a physician's office. In other cases, medical transcriptionists are self-employed.
- Job Outlook
Employment for individuals who opt to become medical transcriptionists is expected to grow at a rate of 8% between the years of 2012 to 2022. This is about as fast as the national average for all vocations.
If you have given any consideration to becoming a medical transcriptionist, you should note that doing so can be an economically lucrative decision. Now that you have a basic understanding of the type of salary you can expect to earn if you pursue this vocation, you can make an informed decision regarding whether this career path would be right for you.
