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Is Medical Transcription Still in Demand? Yes, very much so. The healthcare industry is going through a massive upheaval, and this has made the role of a medical transcriptionist more important than ever. Healthcare facilities are increasingly leaning on technology to help with their transcription needs.
Medical transcriptionists are often hired as independent contractors (ICs) by companies that hire them. The IC status is indicated in job listings. As a result, you and the hiring company are contracting instead of hiring an employee and employer.
Remote medical transcription jobs involve transcribing medical notes, recordings, and other audio files for a physician or other health care professional to be used in medical records. These positions are called remote medical transcriptionists.
Many people view speech recognition technology as the future of transcription. According to research conducted by the international marketing research firm MarketsandMarkets, the speech recognition industry is expected to more than triple (from $4 billion today to about $12 billion) by the time 2022 rolls around.
Most medical transcriptionists work for hospitals, physicians' offices, and third-party transcription service companies that provide transcription services to healthcare establishments. Others are self-employed.
For professionals with language translation skills, the jobs outlook is especially promising, with a growth projection of 18% through 2026. However, while demand for court reporters and language-based transcription is strong, the job outlook for medical transcriptionists indicates less demand for this specialty.
Employment of medical transcriptionists is projected to decline 7 percent from 2020 to 2030. Despite declining employment, about 6,600 openings for medical transcriptionists are projected each year, on average, over the decade.
Medical transcription as a career choiceMedical transcription is a great solution for practicing medical professionals who find time allocation a challenge. Some firms even offer working from home, helping doctors earn extra income while continuing on their medical journey.
The Experience Is Worth it But if you desire full-time employment, use them to gain experience. Why? The big money is paid to transcriptionists with experience who work directly with the client. For this reason, freelance platforms offer the most lucrative offers.
Most medical transcriptionists work for hospitals, physicians' offices, and third-party transcription service companies that provide transcription services to healthcare establishments. Others are self-employed.