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Priced too low. - New at being an IC


Posted: Nov 10, 2014

Hello all.  I have been a transcriptionist for many years, but not working for myself as an IC until recently.  I picked up an account with five doctors.  Four of them are fantastic, but the fifth one is problematic.  He doesn't dictate the entire report, but rather wants the MT to copy and paste from old reports.  These are my issues:  It is not just a simple copy and paste.  I need to go back over it and weed out any duplicate/contradicting  information from the new information currently dictated.  Secondly, I don't have the old reports, so that means contacting the office to have them send me the old reports, putting everything on hold, and then going back over the reports at a later time.  The volume is extremely low.  The four doctors who are awesome generate combined less than this doctor.  All combined, it generates me less than 400 a month.  They are only dictating the cases they don't want to do on their electronic system.  If it were more work, I might just cope with it since the other four would make up for this.  However, at the price I gave them, my hourly average is abysmal.  I do not mind the fact that it is a $300 to $400 account because I realize things have changed.  What would be a good way to address this issue?  I need to charge more for this guy, but I feel unprofessional for pricing it too low in the first place.  In the future, I will find a way to hold off on pricing until I see what the dictation is like.  For this one, should I just stick with my original agreement since it was my lack of thinking it through properly?

NEW ACCOUNT - CINDY

[ In Reply To ..]
I think it would depend on how much you need this account. I would see if you could charge his by the hour like 15.00 an hour or more. Tell them that this is not a line count matter, more of you reading everything and figuring out what to not put in the new report.

New account - Noodles

[ In Reply To ..]
First, do not be so quick to blame yourself in any way. I would ask what kind of agreement or contract you have, and with whom was it negotiated, one of the doctors, office manager, etc. And secondly, for how long is your agreement or contract. ASAP, it would be in your best interests to create for this physician, an hourly rate and I think $20 is fair per hour or $5 per 15 minutes. You were not unprofessional. I would never stick with the original agreement, it takes advantage of you and you deserve better. I also wonder how the dictation arrives to you, and arrives to them, all electronic? Noodles

I would renegotiate - because

[ In Reply To ..]
his work is not really transcription, and that could be your basis for asking for more money. His work is actually extrapolating information (reviewing, deleting, cutting, pasting). Point that out as opposed to 'true' transcription (transcribing audio dictation).

I would just be honest and, after finishing the - current project, tell him that -- Lotus

[ In Reply To ..]
your calculations were off when you bid on the job, and you underbid it by $___, and that you'll be obliged to charge $___ in the future in order to be able to turn a profit. If he likes your work (and is smart) he'll pay you what you need to receive. If not, you're probably better off looking for another account.


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