Monday, February 5, 2007

Expanding Your Medical Transcription Business

I’m always amazed at the number of MTs who routinely struggle to meet deadlines and are swamped in a sea of work with no end in sight. A lot of the times we seem to get used to doing things a certain way and don’t want that to change.

Although change can be difficult in business sometimes it’s necessary. Think about it if you keep struggling to keep up with your work load how will you ever expand your business or have time to dedicate to new clients?

Expanding your medical transcription business doesn’t have to be difficult. You don’t have to rent out office space or pay employment benefits. In fact it couldn’t be easier, you simply hire subcontracted MTs to work for you.

These MTs are independent MTs and will be responsible for their own taxes and business expenses. You just outsource the work to them and pay them for any completed work as agreed. You don’t even need to commit to a certain amount of work. Most MTs understand that this is how the business is run, if you have a large work load you will outsource and if the work load dies down a bit then you won’t be able to outsource.

So when is the right time to outsource?

Any time you feel you have too much work. If you’re work is taking over your life and you’d like a little free time for your family. If you’re looking to expand and grow your business, or just about any time you feel you could use a little extra help.

Try to find a reliable recommended transcriptionist to help you. Usually you pay them several cents per line less than you charge as you will need to make some money for the proofreading and overall management of the account.

A good place to find transcriptionists that are eager to learn is at your local community college or medical transcriptionist school. Often times these MTs will be willing to work for a little less in exchange for training. This is a great way to help out your fellow future MTs and reduce a bit of your work load in the process.


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