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

Independent Contracts - mel

Posted: Aug 21, 2013

I have been thinking about getting my own contracts instead of working for a big company. Can anyone please advise me on how to go about this? I have been working for five years as an MT and I was just content with what I had but I won't be getting a raise anytime soon (haven't for the past 5 years) and I know that I would be making more independently.

So what are the steps of getting your own contracts? What do I need to know before I begin?

Thank you all

Then do you - want

[ In Reply To ..]
someone else to go and get the clients for you and do the work and just send you the check?

Do your own research.

in reply to your post -- mel - nn

[ In Reply To ..]
First of all, getting your own contracts is not as easy as it sounds. It would entail a LOT of "legwork," so to speak in terms of getting out there and proving yourself in a field that is changing rapidly. You only have 5 years experience as an MT -- I have 30 and I have no desire to go out there and try to get my own clients. Think about the overhead costs involved with getting your own clients. You may decide to charge for example, 15-20 cents per line, due to the costs of your overhead, etc, plus paying yourself and any other transcriptionists that you may need to hire. You are going to be seriously underbid by companies that are much larger. There is also the fact too, of the electronic medical record, which many facilities now utilize. If you are sure this is something you really want to pursue, think long and hard about it before you decide to jump in and possibly ending up losing everything you own. It's not as simple as just going out and knocking on doors.

Independent Contracts - ch

[ In Reply To ..]
Agree. It's not as easy as it used to be. I've had my own independent contracts for 20 years. In the last two years I've lost most of them due to EMR and Dragon. The docs are required to do their own transcription at the local hospital now using Dragon. I still make 11 cents per line with the accounts I have left but those are dwindling fast. I'm considering going back to the big companies just to pay bills.

I think those days are fading fast. - into_oblivion

[ In Reply To ..]
If you want your own clients, I would suggest branching out into other areas, such as insurance, marketing, academic, police, churches, etc. That would mean transcribing interviews, seminars, meetings, reports, sermons, etc. I've noticed that many of the medical transcription companies are broadening their scope and for good reason.

What do I need to know before I begin? - sm

[ In Reply To ..]
First, I'd recommend a better way to do research. :)

Second, do you have experience running a business? If not, learn to be a business person then ask questions about how to get clients. If you have experience running a business, then you'd first form your business, write up contracts, get your security officer in place, meet with an accountant to handle quarterly taxes, find out if your state requires sales tax be collected, then you might be ready to actually look for a client.

Depending on where you live, you might find someone still dictating on cassette tapes or someone willing to just dial in to your phone-in system and not care if you offer an EHR.

Many, many smaller offices are creating their records themselves through various means. Smaller clinics are still dictating it but want plugged into an application that allows them to manage the records with scheduling, prescribing, etc.

If you're just one MT you'd have to make sure you could handle the 24/7/365 nature of labor.

But the reality is most offices and clinics are definitely looking to use technology first with the transcriptionist considered second (or third, fourth, or fifth) so you want to be well-versed in selling your platform.

Good luck!

better read 2013 HIPAA changes - ol gal

[ In Reply To ..]
Just took a 2013 HIPAA course and quiz yesterday. You better take a look. You will be considered a Business Associate and will be subject to the governing rules (just like an MTSO is).

Can you please explain that to me, the - difference between IC and business

[ In Reply To ..]
associate. How will that affect us? Thanks.

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