Medical transcriptionists work for doctors, hospitals and other institutions in the medical field. They primarily take daily recordings for physicians and convert them into reports, correspondence and other usable documents. Most of the recordings are transferred to these professionals through dictating equipment. However, some of these dictations can be sent via the Internet for medical transcriptionists who work from home. Medical transcriptionists usually work 40 hours per week and get paid by the hour.
Average Annual Wages
Medical transcriptionists earn median hourly wages of $15.41, which equals $32,053 per year, based on 40-hour workweeks, according to 2008 data from the Bureau of Labor Statististics (BLS). Median hourly wages are defined as those that fall in the middle of the list. The lowest 10 percent earn median wages of $10.76 per hour, or about $22,381 per year. The top 10 percent of all medical transcriptionists earn median hourly wages of $21.81 or $45,365 per year.
Salary by Employer Type
Medical transcriptionists' salaries can vary according to their type of employer. For example, medical transcriptions who work for large corporate transcription teams earn some of the highest hourly rates at $17.00 to $21.70, or $35,360 to $45,136 annually, based on 40-hour workweeks, according to 2011 PayScale.com data. Those working for franchise companies earn $10.69 to $19.13 per hour or $22,235 to $39,790 per year. Medical transcriptionists working for foundations or trust firms earn $10 to $18 per hour or $20,800 to $37,440 annually. Medical transcriptionists who are self-employed earn $11.50 to $17.16 per hour or $23,920 to $36,608 annually. These professionals earn $12.43 to $16.53 per hour or $25,854 to $34,382 annually in hospitals.
Salary by Skill
A medical transcriptionist's salary can also vary by skill or specialty. For example, medical transcriptionists who do mostly administrative work with word processing software earn some of the highest hourly wages at $13.15 to $18.24 per hour, which equals $27,352 to $37,939 annually, based on 40-hour workweeks, according to per PayScale.com. Those working in orthopedics earn hourly rates of $13.46 to $17.45 or $27,997 to $36,296 per year. In the acute care industry, which includes surgical patients, medical transcriptionists earn hourly rates of $14.50 to $17.25, or $30,160 to $35,880 per year, and those working in cardiology earn $11.30 to $16.91 per hour or $23,504 to $35,173 annually.
Salary by City
Medical transcriptions earn the highest wages in the Brockton-Bridgewater-Easton, Massachusetts, metropolitan area at $32.38 per hour or $67,360 annually, according to the BLS. Those in Framingham, Massachusetts earn the second highest wages at $25.96 per hour or $53,990 per year. Medical transcriptionists in the San Jose-Sunnyvale-Santa Clara, California, area earn $23.40 per hour or $48,670 per year, and the ones in the Bethesda-Frederick-Gaithersburg, Maryland, area earn $23.37 per hour or $48,620 annually.
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