Medical transcription was introduced about a decade ago. Since then, the medical transcription industry has changed and is quite different to what it used to be. Online and home based medical transcription is convenient and has become increasingly popular to everyone for money making.

Before you begin transcription for a company, you should look for following points

Look for Reputation
Look for Pay for Performance
Look for opportunities

Medical transcription was introduced about a decade ago. Since then, the medical transcription industry has changed and is quite different to what it used to be. Online and home based medical transcription is convenient and has become increasingly popular to everyone for money making.

Before you begin transcription for a company, you should look for following points

Look for Reputation

You must make sure it is legitimate and has a good history and reputation with employees and in medical transcription industry.

Knowing the numbers of their MTs who have benefited from the company and what kind of advice they give could help.

Look for Pay for Performance

A key to getting onto the fast-track is for you to work for the right company. The right MT company is one that respects its transcriptionist and practices pay for performance.

On the other hand the people running the show should be realistic towards the quality and quantity. Pay for performance is good but should be a realistic.

Look for opportunities
Be sure that there are lots of opportunities for you to grow, develop and advance in your company. A company should have ample amount of work/clients. Your future is too valuable to waste where there is no future.

While working from home as transcriptionists you can make handsome amount of money for a month. It’s a common known fact that in MT industry the billing is done on per line basis. After researching the industry the average payout per line based on quality and level is

Medical transcription and home based business is one of the best combinations which is flourish in India. Home based transcription started in United States and became very popular, where as in India the medical transcription companies were more popular then HMT.

But after recession hitting the globe, it has become difficult for medical transcription companies to sustain their existence and thus giving boost to home based medical transcription option.

While working from home as transcriptionists you can make handsome amount of money for a month. It’s a common known fact that in MT industry the billing is done on per line basis. After researching the industry the average payout per line based on quality and level is

Level ----- --- Type ----- Rs/Line ----- Quality
MT - - - - - -- Easy - - - - .8 - - - - - - 95%
MT - - - - - -- Difficult - - 1 - - - - - - 95%
MT Direct - - - Easy - - - -- 1.15 - - - -- 99.8%
MT Direct - - - Difficult - - 1.3 - - - - - 99.8%
QA - - - - - -- Easy - - - -- .5 - - - - -- 100%
QA - - - - - -- Difficult - - .7 - - - - -- 100%

So, if your level is MT-Direct and you do 1000 lines a day, 5 days a week then your monthly line count would be close to 22000 and monthly payout would be close to 30 thousand. Which is a very decent monthly income.

When ever taking home based transcription job, you can refer the matrix above.

Most common overhead items that business have are like building rent, office furnishings, equipment leases, payroll, and inventory which don't usually exist with a home based medical transcription business. And that’s why many companies are focusing on home-based transcription model and thus giving more opportunities for transcriptionist.

The important advantages of doing a home based transcription that is overlooked by entrepreneur is low overhead or least fixed cost. Low overhead plays a vital role is success of any business and becomes even more important during difficult economic times.

Most common overhead items that business have are like building rent, office furnishings, equipment leases, payroll, and inventory which don't usually exist with a home based medical transcription business. And that’s why many companies are focusing on home-based transcription model and thus giving more opportunities for transcriptionist.

That doesn’t mean that home-based medical transcription business model can’t fail; it certainly can. It mainly depends upon the quality of work and turn around time. It becomes our (transcriptionist) moral responsibility to deliver work in time and with best quality. As we are the one who will be deciding the future of home based MT.