Medical Transcription - Great Home Business Or Hyped Opportunity

With globalization in full swing and job security a thing of the past, with ever increasing gas prices and the time spent commuting simply time lost, more and more people are looking for alternative ways to pay the bills and escape the rat race. One alternative that many are looking at is Medical Transcription.

Sounds like a viable option but is it possible make living from home with medical transcription? Sure, it's possible but there's more to it than the average sales letter espousing the opportunity with tell you.

This brief article will outline a few of the pros and cons of the opportunity and hopefully bring to light a few facts that will allow you to better assess if medical transcription from home is for you.

On the positive side, many people are earning a nice living performing medical transcription from the comfort of their own homes. Incomes of $50,000 to $75,000 are realistic and some medical transcriptionists make even more but on the other hand, there's more to it than you might think. In addition, because more and more transcription is being outsourced, once you establish yourself as a reliable and competent contractor, you should have more work than you can handle.

Here are few things to consider as you ponder a new career in medical transcription at home.

Medical Terminology

It's essential to have a thorough understanding of medical terminology and the proper spelling of these terms. The reason is simple, accuracy is essential in any transcription and because time is money in this profession and because you are paid by the amount of work you can produce, if you're struggling with every other word you won't get much done. Of course, you would clearly have medical spellchecking software on your computer but if you don't understand the terms as you listen to the dictated messages you won't be as productive as you need to be.

Of course, you don't need to be familiar with all medical terminology because most transcriptionists specialize in specific areas such as ophthalmology.

Listening Skills

Most of the time, you will be transcribing from some type of audio tape and these tapes are not always the best quality and doctors are not thinking of you when they are dictating. They are not thinking of proper sentence structure and speaking in a clear manner and so you will be dealing with the problem of trying to figure out what is being said. They just talk away and it's up to you to figure out what they said.

Just another reason why it's so important to have a thorough understanding of medical terminology and their associated conditions so that you can properly interpret and extrapolate what the doctor is trying to say.

Vacation

As you get established you'll have plenty of work but as in any business you need to have coverage at all times. So what happens when you want to go on vacation? Of course, you'll need someone to take over your work and because many medial transcriptionists specialize in certain fields your backup may not be familiar with your specialty and thus the chances of errors will increase. On the flip side, you may also be asked to backup another medical transcriptionist when they go on vacation and have to deal with their field of expertise and a whole slew of new terms.

Medical transcription isn't for everyone but if you've got above average typing skills and you enjoy the freedom of doing your own thing and working when you want, it's a realistic way to earn a good to great living from the comfort of your home.

Tip - For more information on a career in Medical Transcription, check out the links below.

Visit medical transcription or medical transcription course or medical transcriptionist for more info on Medical Transcription.

10 Effective Tips for Promoting Your Medical Transcription Business

Looking to build your existing MT business or just starting out? These marketing tips will give you some good ideas for finding new clients.

Promotion Letter ? A very effective way of landing accounts. Send out a promotion letter to all your local medical offices describing your services. And follow it up a few days later with a personal phone call.

Freebies and Giveaways ? Give away a certain amount of services for free, such as a free sample transcript or a discount for a certain amount of work. Tell clients about your giveaways in all your advertising material.

Flyers ? Flyers are great for marketing a medical transcription business. Distribute them to doctor?s offices, hospitals, clinics, social workers or any other targeted customers.

Business Cards ? Carry them with you wherever you go and give them out as necessary. Use proper business card etiquette. Always ask for a business card in return and don?t just stick the card in your purse or wallet. Glance at it a few seconds to show the person you are interested in them.

Magnetic Signs ? Place a magnetic sign or bumper sticker on your car. Make it short but effective so people will remember you. Include your website address and/or contact details on it. Remember it will be easier for people to remember a catchy .com website address than a phone number. Not everyone will have pen and paper handy.

Pens or Other Tokens ? Pens, mouse pads, mugs, t-shirts or other small tokens with your business name and details on them is an inexpensive and effective marketing tactic. Pens, mouse pads and mugs work especially well in the MT field. Your business name will be displayed in busy medical offices and hospitals for potential clients to see.

Charitable Acts ? Support a local charity in return for exposure. Choose a medical related charity for targeted exposure, such as cancer awareness or heart charities. You?ll raise funds for needy charities and feel good about yourself in the process.

Ask for Referrals ? Don?t be shy about asking for referrals from current clients. If you?ve provided a good service for them, they will be happy to spread the word about you in return. Ask if they would please pass out some business cards to their colleagues for you.

Network, Network, Network ? Find other local MTs and network with them. The key to network is not to go out with a ?what?s in it for me? mentality. Genuinely make friends and help others wherever you can and people will do the same for you in return.

The Phone Power Hour ? Set aside an hour every day or every few days of uninterrupted time and make this your phone power hour. Pull up a list of local potential customers and start calling them. If you?re a bit nervous at first, write down what you would like to say. Follow up with potential customers you?ve sent letters to or potential marketing partners. Use this hour to expand your networking opportunities as well.

That?s it, 10 easy, affordable and effective ways to start spreading the word about your MT business. With a little practice you?ll be well on your way to finding new clients.

Mila Sidman is an experienced MT and owner of www.AskTheMT.com - an informative website dedicated to answering all your medical transcription questions.