A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Been doing the math... - time4achange

Posted: Mar 08, 2012

...and I'm wondering about everyone else's situation. If I work diligently and have work available, I can do 300-350 lph in SR, so that's $12-$14 an hour. My hours actually spent engaged in my job, getting ready for my job, getting to my job, getting home from my job, etc. are basically the hours I'm working and the few minutes it takes me to boot up. I have no car (don't need one--spouse and I work the same hours), no uniforms, no lunches out, no convenience food because I have the time and flexibility to cook. So on average I make $13 an hour and spend 40 hours a week doing it, net = $520/week = $2250/month.

If I make a career change, I am going to need a car (figuring $200 a month car payment, $100 to insure, plus gas and maintenance probably another $200 a month), uniforms or at least clothing suitable for work (figure at least $25 a month, probably more). I know there are going to be convenience foods because I'll be working shifts and spouse hates to cook, and I'm not going to have the willpower to bring my lunch every day. So let's figure another $25 a week for lunch and convenience foods. So in order to net that $2250 a month, I am going to have to make another $625 to cover the costs of an outside job. That's $2875/mo, $665 per week. If I work 40 hours a week, that's $16.58/hour. But I will also have a commute, which for me is going to be at least 45 min each way, so on a 5-day week I will actually be working 40 hours + 7-1/2 hours commute time = 47-1/2 hours.

So...I need a $3.50/hr raise and need to put in an additional 7-1/2 hours a week just to break even with what I have now, right?

yep. - mt2

[ In Reply To ..]
I thought about quitting this crap but also put it in perspective like you did. Might has well stick it out for another 8 years, collect my SS and work part-time doing something enjoyable.

Looking at my math - sm

[ In Reply To ..]
Can get a less stressful job at my local grocer or strip mall with job making 12-14 dollars an hour--- Ride my bike to work or walk with umbrella if raining, thus need no car. I would be getting good exercise and not sitting for 8-12 hours either waiting for work or needing to work 12 hours for pay of what I expect in 8 hours. Uniform provided or cloths I already have in closet. Make my own lunch which I take with me. Again I get good exercise and way less stress thus saves on doctor bills from sitting way too long for maybe enough work.

Yeah, that's the kicker... - time4achange

[ In Reply To ..]
...the "maybe enough work" part. Dollar-wise and for overall life satisfaction I definitely prefer to stay home doing what I'm doing. But the worry is always there -- will I have enough work today? And the bigger worry -- will I even have a JOB in 5 years?

Yep, same here - AuntieAnxiety

[ In Reply To ..]
Same situation here, in that I've been offered a couple of in-house jobs but, no matter how my husband did the math, I make more working from home. At home, I can average on good days $20-25 an hour; the in-house positions start around $20 in my area. After factoring in coffee, lunches, and transportation, we'd take a pretty good-sized hit, so I chose to remain working from home.

In all honesty, even if it were a minimal difference between working from home and in-house, I'd probably still choose to work from home, where I can crawl to the computer to work if I'm sick and looking like a snotty-nosed zombie or have a nice lunch with my husband, so I have no complaints.

Good luck with your decision!

I feel the same way - especially with

[ In Reply To ..]
transportation costs going up, up, up. On the chance that I could find an on-site job, and possibly could take a bus, would still add hours to my working day.

Most hospitals have MTs working remotely. - Now a days, cuts cost for hospital to have MTs wor

[ In Reply To ..]
So if you find a good in-house job always ask if they have the option of working from home because most do.

Working for a hospital doesn't necessarily mean working in-house. I worked for a hospital from home for many years until dept was outsourced.

Doing the math - Anonymous

[ In Reply To ..]
You can look at it in practical terms like you are, but also consider that your potential new employer probably offers health insurance and other perks. At my onsite job, those things make a huge difference in my salary package. Aren't transportation expenses a tax deduction? I don't know why you would need to spend $25 a month on clothes, it is not necessary to have something new to wear all the time. Lunches are not that big of a deal, I take leftovers which I would have on hand anyway. Something that I appreciate but which does not seem to bother some, is the daily interaction with others and getting out in the community. There can be negativity in the workplace but learning to deal with it is a life skill. And yes, many places will let you work at home as an employee after a probationary period. Also, as I think has been mentioned before, if other jobs open up within your organization, you are in a position to move into other areas if you become an employee. I guess it's an issue of priorities and what matters most to you, everyone is different.

about the $25 a month on clothes - anon

[ In Reply To ..]
personally, I shop at Goodwill. They have great clothes and really cheap, but I would need shoes. Probably the reason she is saying she would have to spend $25 a week on clothes, if she is like me, I have been working at home for so long I no longer have a "work wardrobe." I live in sweats and jeans and shorts. I honestly have ONE pair of black pants I can fit in and maybe 2 dresses, both summer. and that's IT. I'd love a hospital job so I could wear scrubs, be less than trying to wardrobe myself for a business office unless they are very very casual.

I just made a trip to my local 2nd-hand store yesterday! - Meerkat - sm

[ In Reply To ..]
(It's called "Thrift Town"). OMG - I always come home with all sorts of cute stuff for pennies on the dollar! Sometimes you can find great deals on work/dress shoes, too. I have a pair of slip-on black loafers that go great with pants or skirts. Thrift-Town buy!

I also get great-looking business attire there.

I've been looking all over for a cropped denim jacket. Too expensive to buy new. Looked at 2 different Goodwills, and a great thrift store in San Francisco called "Out of the Closet". Found jackets that were close, but no cigar.

Yesterday at Thrift Town, I found my perfect-fitting denim jacket! ($5). I had $15 to spend, so there was still $10 left to go. I bought 3 skirts: One to wear as-is, and another to shorten into a miniskirt. The 3rd one was a long, floor-length maxi-skirt made of black stretch velvet. That one is a 2-fer-one buy for me, because after cutting off and hemming the skirt to an above-knee length for myself, I'll then have yards of stretch velvet for other sewing projects! Stretch velvet is expensive, so this was like getting it free.

Finally, on the way to the cashier, my eye caught a wooden knife block for the kitchen. I've been needing one of those for years... but too expensive at a regular store. This was $1.99! Bingo!

So my total bill came out to $16.50. I also had a store coupon in hand for $5 off any purchase of $15 or greater, so my total bill for a denim jacket, 3 skirts, and a knife block was $11.50.
If I had gone to Target or JC Penny's or the like, I couldn't have bought even ONE of those items for $11.50!

Best of all, there's less worry about shrinkage... things have already been washed.. and shrunk!... before you buy them.

So, even though I work at home and currently have no need for any work attire, I have my "interview clothes" ready to go, and can build a work wardrobe at the last minute, for just a few bucks, by shopping secondhand.

I'm impressed !! - jealousme

[ In Reply To ..]
They closed our Goodwill here years ago. There are a couple of thrift stores here but kind of junky. Every time I go to the "big city", my daughter and I love to "garage sale" at Goodwill or any of the nice thrift stores. It's exciting to get a good deal!! And yes, I can afford to shop at regular stores, but like I said, it's the thrill of the hunt. :)

Just my opinion... - Becky

[ In Reply To ..]
This is just my opinion, so take with a grain of salt if need be...I think it's good the OP is looking at reality...that's important in today's world. There ae sooooo many variables, and everyone's situation is different. The OP may need to spend money on clothes because she may have nothing after working at home so long. Some people's cities offer transportation and some don't. Some people have cars, and some don't. Personally, I used to be a secondary teacher. If I went back to teaching, I'd have to be there at 6:45 a.m., as our secondary kids start super early. My 2 elem. kids don't catch the bus until 8. With no family to help, I'd have to pay a daycare for early morning and afternoon care (and because they take them on a van, you gotta pay pretty good for it). I think we are blessed and lucky to be able to work from home. It's not for everybody, but it's a blessing on so many cost levels. I am happy. I mean no disrespect either, but why would you wait for work day after day? I have been an MT for only 6 years, and I have worked for 3 companies, and I have NEVER had to wait for work. If I needed my income so desparately, I would look elsewhere if my company didn't have enough work for me. Just my opinion...we're all different, and I respect all people for their personal situations...not attacking anyone here!

My plan. - Changing

[ In Reply To ..]
Like you, I am sans a vehicle. No problem because my city has one of the best bus systems in the country (ranked at #2).

I will ride the bus to work.

Clothing expense is an issue, but there is Goodwill, etc. Also, what I intend to go into is not "front office" all the time so I intend to wear comfy scrubs at least part of the time. :)

Costs - Just me

[ In Reply To ..]
I think it's good that you are figuring out costs for working at home versus working outside of the home. I wonder if you could just buy a used car at first instead of figuring $200 a month for a car payment. Also, our insurance is only about $50 a month for 2 cars, not $100 a month. If you are commuting 45 minutes each way, you will probably be spending more on gas than $200 a month. My husband and I were just working on our budget last night and we spend about $300 a month on gas. He drives 15 minutes to work every day. I drive the kids to school (8 minutes each way) and pick them up every day. Also, how much money would you save on utilities each month because you are not home all the time and can turn down your heat during the day and don't have the computer on all the time?

You should also consider the benefits of another career versus staying in MT. Will MT be around for the rest of your career? Do you have much time left in your career? If you got a job outside of the home, what would your potential be for raises and increased income down the road? In MT, obviously, our pay has only gone down. That doesn't happen in most other industries. My husband has been working at his company for 3 years now and just got a $1.75 per hour RAISE. His health insurance and other benefits are also much better than what I have through my MT job. Do you think that our pay and benefits will get better or stay the same versus what you would get with another career? Would you have other benefits from a different career/job like tuition reimbursement to further your education and get an even better job? Would the increased social interaction/getting out of the house be a perceived benefit for you? Would you appreciate that commute time as time for yourself to think or listen to audio books? Also, is there another job/career that you could also do from home that might pay better?

Just some things to think about. Of course, you know what is best for you in your situation.

You're reading my mind! I don't want to start something, but... - time4achange

[ In Reply To ..]
these are my questions exactly, especially regarding the long-term outlook for our industry. Assuming that SR is here to stay, and realistically speaking,rather than from a point of view of anger (which, by the way, I do sympathize with to a degree), I would really like to know where everyone sees our role a few years down the road.

Yesterday I went to my local community college to explore some options. I had a list of criteria that are absolutely necessary for me if I am going to get out of MT. My list included pay > $30K per year, geographic flexibility, high demand for the long term, less than 2 years of education, and work I can do into my "golden years" so to speak. So we plugged my criteria into their career exploration software, and the first job on the list was medical transcription--with a special notation that this is one of the jobs that will be in very high demand over the next 20 years, with growth higher than average expected. The job description did address SR and outsourcing but indicated that with EMR becoming so much more prevalent, the necessity of well-trained editors will continue to expand.

Yet from reading posts here and on other MT sites, and from seeing myself being out of work AGAIN...well...I just don't know what to think.

Thoughts anyone? Again, not trying to start a flame session. Just looking for...well...a crystal ball.

Crystal ball - MT at heart

[ In Reply To ..]
MT will probably be there in some form into the future, but the question exists as to whether people will want to work for the wages they pay for editing. Quite a few MT/editors make less than $30K now. It will probably be 100% editing in a few years, IMO. If I had one of those crystal balls, I may not want to get out of bed in the morning, lol!

I do agree that MT will always be around BUT - sm

[ In Reply To ..]
less so with advances in technology (Epic, and the cheaper versions that are coming down the pike), but the main thing is that income is going down like a rock. And every indication shows that that will only continue.

That's the reason I'm getting out. Right now I am making an excellent income, but if I should ever lose this job, I am up the creek without a paddle. I will never be able to find anything even close to what I'm making. I've boxed my own self in the corner. The thing about making a solid middle class living, rather than eeking through paycheck to paycheck and robbing Peter to pay Paul is ... I DON'T WANT TO GO BACK!!

I do agree with you that you're making good money and it doesn't make any sense right now in your circumstances to go work in-house, or whatever. The question is ... how much longer can you expect to be paid at that level without something changing? This board (and anecdotally amongst people I know in the real world) is littered with really good MTs who used to make $25 who are now making $10 with no bennies. There are people who are still making $25 (and I'm one of them), but we are a dying breed. Things were going along great for me, but I've just had the rug pulled out from under me. I am looking up on the horizon 2-3 years out.

OK, I blabbed on a lot. I gotta go get a latte. :)

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