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

Income Simple Survey - workaholic

Posted: Mar 24, 2010

After losing an employee status job due to healthcare reform anticipated cuts, I am considering going back to IC status. Just to keep things super simple, as a baseline would appreciate hearing what ICs are making yearly who work a 40 hour a week.

25,000 if you are lucky! - nm

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.

53K in 2009 - but way more than 40 hours a week

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Paid $8000 in taxes and $525 per month for health insurance.

I have a question (sm) - Long time MT

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You say you lost an employee status job due to anticipated cuts from healthcare reform? I don't understand, because it seems to me that a lot more people are going to be able to avail themselves of health care because of reform, and thus there will be more reports to transcribe? Plus, even if that were not the case, it's going to take time to start seeing any changes from reform. Sounds to me like your employer was just looking for an easy excuse to get rid of employee status people with benefits.

Lost job - workaholic

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As I understand it, the specialty practices, such as cardiology, are anticipating 30% plus cuts in reimbursement from their Medicare patients with this new legislation. This will also trickle down to cuts in reimbursement from private insurance since some base their usual and customary fees on Medicare rates. As such, they are closing a few offices and cutting expenses wherever they can. As for the people who are going to be able to avail themselves to healthcare, good luck on that. I don't see the older doctors hanging around waiting to be told by the government how much money they can make. A lot of the guys in their 50s who can are saying they are going to retire rather than deal with it. I guess time will tell.

Thanks for the clarification (sm) - Long time MT

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I'm sorry to hear you lost your job because of this. I lost my job a few years ago to India. I know how awful it feels. I hope you find something very, very soon!

true, changes come into effect only 2014 - nm

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nm

Interestingly, - workaholic

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even though the changes happen in 2014, taxes for implementing a lot of this start within the next few months.

the more people availing themselves of health care - the more patients docs will have to see

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... and the less time they will spend on documentation. They will dictate less and point-and-click more.

Healthcare reform will most definitely put an even tighter squeeze on the MT.

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