Wednesday, January 23, 2013

How to Start a Medical Transcription Business

Medical transcriptionists take recorded medical notes and turn them into documents that can be added to a patients medical record. If you are a transcriptionist and would like to start your own business or if you want to become a medical transcriptionist, this article will show you how to start a medical transcription business.

  • If you are not currently licensed as a medical transcriptionist, that's the first thing that you'll have to do. In order to get your license, you'll have to participate in a certified training program for medical transcriptionists. They are available both on some college campuses and online. Certification is not required, but is highly recommended for transcriptionists.
  • Before you start your medical transcription business, you may want to work in a hospital or doctor's office setting for some time to gain experience.
  • Once you have the required education and certification, you are ready to get started on opening the doors to your medical transcription business. You are going to need to have an office in which to work, space for your reference books, an extra phone line, a filing cabinet, accounting software, line counting software, a fax machine, a laser printer, etc.
  • You'll also want to consider setting up an LLC to protect your personal assets from any business debt, and you'll want to consider getting professional liability insurance. Some hospitals require providers have "errors and omissions insurance" so this is good to have if you will be soliciting clients that may require insurance
  • Once you have everything else done, you are ready to start marketing your new business. Find out what the going rate is in your area, have business cards and other marketing materials created so you look and feel like a professional business. You'll need a plan of attack to contact different physician offices and medical providers. To be successful, you are going to have to be a salesperson before you get to be a transcriptionist.
  • Once you have successfully landed your first client, you are technically in business. Continue to look for additional clients, but be careful not to take on more work that what you can handle! Don't be tempted to take on many new clients at once - it's better to get adjusted to one new client before beginning to work with another.
  • As your business starts to grow, you will need to decide if you want to take on subcontractors to handle part of your workload. Do this with care, as you will then need to switch part of your role to managing as opposed to transcribing. You'll also want to be very careful who you hire to assist you as everything they do with forever be associated with your business and reputation!

Read more: How to Start a Medical Transcription Business |

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