How to Become a Self-Employed Medical Transcriptionist

Many websites extol the opportunities for working from home as a medical transcriptionist. They offer short courses in medical transcriptions and promise that in just a few months, you too can be working from home and making a fabulous salary! Well, is it too good to be true? The truth is that yes, medical transcriptionists can work from home, and the average salary of medical transcriptionists (both working from home and working in facilities) is between thirty and forty thousand dollars a year. However, do not be fooled into thinking that working as an independent, self-employed medical transcriptionist is a walk in the park. Here are some practical tips on becoming a self employed medical transcriptionist.

First of all, you must be qualified to work as a medical transcriptionist. When going it alone, the better your qualifications are, the more business you will receive. Ideally, you should be a graduate of an accredited medical transcription program, with two or more years of experience, and have passed the national certification test to become a CMT, or Certified Medical Transcriptionist. You must be familiar with many different aspects of medical transcription and business, including English grammar & punctuation, medical language, disease processes, anatomy & physiology, pharmacology, laboratory medicine, medical transcription technology including voice recognition software, healthcare documentation standards, medicolegal issues including ethics and confidentiality issues, medical transcription practices, and business practices.

All these things qualify you to work as an unsupervised medical transcriptionist. Now you must think about small business issues before you start your business. You should attend seminars on small business and marketing, review available business publications and references, and determine the transcription needs of the medical community you seek to serve before you attempt to start your home transcription business. Also, it is wise to consult an attorney to create and review contracts and to determine what regulations and laws apply to businesses in your area. Remember, you will be operating under the laws and regulations of your city, county, and state, and you may also be subject to the rules and regulations of a multitude of federal agencies. Running any small business is not easy, and a small business that deals with medical information means that you must comply with even more rules and regulations. You should also consult with a tax advisor and an insurance advisor who can counsel you regarding issues such as liability for errors or omissions.

After you have done all of the above things, you must begin to prepare your home office. There will likely be a significant amount of money spent to set up your office. You will need medical transcription software and hardware, including voice recognition software, audio software, a headset and foot pedal to listen to and pause dictation, and internet access. You will also need a home library of medical terminology, pharmaceutical, laboratory, surgery, and various specialty references, and a a medical transcription style manual. Expect to spend at least a few hundred dollars on these books, and a few hundred more on the hardware and software.

Once all these things are in place, you are ready to start accepting clients. As you can see, much preparation and expense is involved in setting up your own business as a medical transcriptionist. However, once you have created your home office and are serving steady clients, you can make a good living working from home as a medical transcriptionist.