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Employee Versus IC - brown72807

Posted: Apr 17, 2012

Can anyone give me feedback on switching from IC to an employee from home? I'm thinking about doing it but unsure if it would be wise .. It seems like the grass would be greener on the other side (in terms of benefits, W2 status for taxes, etc) but I hate to give up my freedom as IC unless it is REALLY worth it in the end. Also, is making 8 cpl after 4 years reasonable wage? Thanks for any input!!

No generic answer, but... - Beentheredonethat

[ In Reply To ..]
First of all 8 cents is not good but have you had a company policy in place for production bonuses or a way to get a raise? The decision must be based on many factors. Grass is greener can be applied to MTSOs in general, whether employee or IC...taxes are not an issue at all to file yourself. I use eftps.gov to have taxes automatically withdrawn from checking account/direct deposit. Husband has me on his health benefits. I'd take IC over employee status any day and would not go back. I have potential to make 10 cents a line, average 9.3 for 5000+ a week line counts.

Thanks .. Not many options for a raise... - brown72807

[ In Reply To ..]
Thanks for your response - the only option I have for incentive is to work on the weekends for 9cpl, which isnt always feasible. My husband cant put me on his insurance so that is out of pocket for me. The only way to get a raise is to ask my boss - who does not give them out very easily.

taxes are too an issue - bewary

[ In Reply To ..]
I have been an employee- I switched to IC status. Yes, the freedom is there, but if you have a good work ethic, then you stick to your schedule regardless. As far as taxes, I found that paying the employer's share of Soc Sec/Medicare to add up to quite a bit every quarter. As far as insurance, you are at quite an advantage being under your husband's insurance. Not everyone has that advantage. I am soon to be employee based and cannot wait. I am dependable and I stick to my committed hours which any good employee or IC should be doing in the first place.

My advice - sm

[ In Reply To ..]
right now companies are doing like 99.9% ASR work with the rates for most being 4 cents per line (not feasible).

You can start sending out resumes and cover letters and if you have been at it for a long time and very well experienced, cross your fingers and hope for 5 cents a line or better doing ASR (speech rec).

Straight transcription rates really dont mean much anymore because you will seldom see it.

I am not so sure what it would be like to go with a company at 4 cents per line doing 99% editing and 1% straight typing with trying to afford health insurance.

If you can find some place where you know there will be work/a busy account that is willing to pay you between 5-6 cpl for editing then fine.

But if you are making 8cpl straight typing you might wanna stay put and take your chances on asking for a raise. Worst case scenario, your boss will say no, but I would at least try.

Also now a days many hospitals have their transcriptionist working remotely. If there is one in your area or within driving distance that is not outsourced try that.

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