A community of 30,000 US Transcriptionist serving Medical Transcription Industry
IMO, and again, this is only my opinion, hitting rock bottom should equate to more than just what we're earning now as individuals. In order to judge whether or not the FIELD of MT has hit rock bottom in America, we would have to look at it as we see it on the inside and think if it would be a career we would choose to support ourselves on if we were just choosing careers for the first times as single people trying to support fresh out of school or a person changing careers to a new field. Also, since hitting rock bottom means some sort of a downward direction, we would have to start at the top and compare that to now. Considering what American MT meant when it was at the top of its field and in comparison to now, I think it definitely HAS hit rock bottom.
A person can no longer expect to go anywhere in this career. There was a time when a good MT willing to invest in continuing education and improvement in skills would move up in the field. Since the majority of hospitals now outsource (domestic and overseas), the MTSOs pretty much control the field at this point, and upper level management bring in their own from outside fields. What advancement do we really have? Do we have opportunities for salaries commensurate to our skills as we get more experienced? NO. I would have to say that more than 70% not only have not seen raises in YEARS, but have taken pay cuts. I've gone from 12 cpl to 9 with more than 18 years experience. Look at what the entry line rate is now for a newbie trying to get into the field. Look at what the beginning line rate is offered at a new company when starting, sometimes no matter how much experience you have.
Look at the benefits and perks we used to get compared to now. We didn't work every single weekend and hospitals were open 24/7 then too. We rotated holidays just like weekends and there were emergency surgeries on Christmas and New Years then too. The field has definitely changed. We have better technology to help us with our jobs, but because of the technology that THEY choose, we get paid less. I really can't see ithe pay, the opportunity for advancement in this career, and the morale getting much lower in this field because we cannot afford financially, emotionally, and physically to get much less than this and still keep working this field IN AMERICA.
That being said, I think it will rebound, but not until the clients themselves hit rock bottom in terms of quality in medical documentation. When they start losing BIG money with lawsuits due to the shoddy overseas work or the VR pushed through for the sake of quantity, then things will change. They have the control and they don't feel the pinch yet.
I love the company I work for, but in the past year, the work has been slow almost to the point of non-existent, always telling me to hang in there, there are accounts coming on line, yet I haven't seen any new ones yet. I've asked for other accounts but, supposedly, none of them are on the platform I work on, so....here I sit.
I have always worked my regular schedule, always worked when there was extra or were running behind, rarely complained, had quality work, and rarely any blanks. I do the research even if it drop my line counts because I want quality. I do any ESL that comes my way, and learned ExSpeech and Escription.
Yet, here I sit, 2-3 days without a single job. I made $43K the first year with this company and this year not even making minimum wage. Can't feed the family on this.
So, what's MY problem? No experience? Don't think so. Quality audits of 99.2%. Tell me why the work disappeared all of a sudden because I have no idea.
P.S. I'm not the only one that has the above happen to. It's on the boards all the time. Good quality MTs and being treated like sh_t.