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

Small MT business insurance - Starting out

Posted: Feb 24, 2014

For those of you who own your own small MT business, can you advise me if liability insurance is a requirement? Do you recommend this or is it even cost-effective? Thanks for any help. Please ONLY those who actually have their own business. Not just opinions. Thanks!

Not an opinion - Just a question or 2

[ In Reply To ..]
I'm curious as to how these days you are going to get your own accounts. Clinics, for the most part, don't have services (or their own MTs) anymore, they just do their own thing at the computer.

Maybe you're going to try to get a hospital account and compete with the big MTSOs?

Well, good luck either way. I'll be anxious to see if anyone still runs their own small MTSO.

Small MT business insurance - nickname

[ In Reply To ..]
There are still a few of us small MT business owners. Clinics absolutely do utilize small MT companies, but I won't be giving out my secrets. Sorry. Was looking for information from an actual business owner as specified in my first post.

Oh... - I misunderstood a bit

[ In Reply To ..]
I somehow got the impression that you were going to start your own business for the first time, so those were rhetorical questions to get people thinking about doing that at this stage of the MT game.

Well, I hope you get the info you need.

You're talking to business owners here (sm) - Rose

[ In Reply To ..]
Those of us who are contractors are business owners, even without subcontractors. Many of us owned our own small businesses for decades before having to resort to working for a larger MTSO for peanuts. To start a small business you will likely not be able to compete with the MTSOs TAT, which is very tricky unless you hire many subcontractors for coverage. I don't think there is any secret to being able to do this so I doubt anyone here wants to get you to reveal your "secrets". You either have the tech savvy, or tech help to integrate with particular EMR being used by your clients and the ability have competitive TAT.

I do not know any independent contractors who can afford to buy insurance and if an error made by the contractor or one of her subs, well... you can't get blood from a turnip.

She is saying - She already owns the biz

[ In Reply To ..]
Just wants to know about insurance. I made the mistake of thinking she was wanting to start a business, but it turns out, she already does, just wants to know about insurance.

I have no desire to go into the MT business, so nope, I wasn't asking for secrets. Just asking some cautionary questions before anyone goes into starting their own MT service.

Well, that was rude. - xx

[ In Reply To ..]
It is unlikely that anyone will be interested in helping you now, and there are a lot of people who frequent this board who probably had the answers you were looking for. Oh, well.

Small MT business insurance - Starting out

[ In Reply To ..]
Um, not sure what all these responses are. ?? Not really the answer to my question, so thanks anyway.

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