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

New MT. How/What to Bill? - JJ

Posted: Apr 19, 2012

I just started working as an MT 5 or 6 weeks ago. I have about 10 IME's I need to bill them for. What is the going rate for this, if someone wouldn't mind explaining to me? They asked what my going rate was, and I had no idea. They said, it's usually .11/line. The doctor is very difficult to understand sometimes, so it can take much longer to decipher what he says. I keep telling myself that I am receiving, basically, paid learn-as-you-go training, so anything it probably fine?

Can anyone help me out with this? I would very much appreciate it!

wow. - ICManiac

[ In Reply To ..]
I think you should count your blessing they think the rate should be about 11 cpl and bill that.

Now to address the issue going forward. You are the IC and you set your rate based on what you know about yourself and your worth. Does 11 cpl work out to be a good hourly wage (maybe less so now but yes after a year of experience)? Consider about 30% of that wage will be earmarked for taxes. What is your overhead? Did you drive to pick it up? If you did drive, what is your cost per mile? Maybe you need to charge a flat pick up/delivery fee rather than putting that cost into your line rate. Do you pay DSL or cable for internent service as part of your business? What is the relative cost of living in your area? Do you use your printer? If so, what are those costs? This is something that a flat fee could be charged rather than adding it into your line rate.

Think like a professional and then you came become one.

Line Rates.. - JJ

[ In Reply To ..]
ICManiac, thank you for your response!

It seems like a good rate if he wasn't so hard to understand, and take so long to decipher what he is saying. I don't have to print the report, just submit it on an online storage site. I guess my costs, so far, would be: Internet (although I would have that anyways), my laptop & Microsoft word (again, had those anyways), Express Scribe software, and foot petal (one time costs: $60), headphones, Shorthand software ($30 a year). So, costs are minimal.

Also, once I submit the report, it is sent back to me and I fix all the errors/any requested changes, that are noted.

I only have experience, as a paralegal for two different law firms, MS word training, and can type fast. But absolutely no MT training. My degree is in finance. So, part of me thinks maybe the low wage is OK, if I consider it free training?! I don't know..

Does anyone have any further advice on this??

-JJ

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