Medical transcription is one of the few hot careers of this decade. With aging population and decreasing workforce, never before has the shortage of medical transcriptionists been so evident. This gives an opportunity to explore medical transcription business to strike it big and to strike at right time.
With tough times and economic slowdown, venturing in to any business is a difficult proposition. However, you will be amazed to know how easily you can start your own transcription business without a big hole in your pocket. So what do you require to start a home-based medical transcription business? Well, to be true, not much.
With good knowledge of transcription, starting a home-based business should be very simple. Some important things to consider before starting this business are the initial investments, requisite training, marketing, profitability, and time management. Let us know more in details about each of these.
Investment in transcription is not huge. You require a good computer, printer, fax machine, earphones, foot controls, audio recorders and software required for transcription. These include Stedman, drug dictionary, English dictionary, FTP, audio convertors, audio players, office software and some others. Basically, standard office equipment is what you will need to start with. As the business is home based, you again save on the rent and other miscellaneous expenses.
Training in medical transcription usually requires a period of 4 to 6 months with many courses available on the internet these days; some of them available online too. The fee for learning medical transcription is not too high either. By investing around 5 to 6 hours a day for a period of 4 to 6 months, you can easily become a good transcriptionist.
Most of the transcriptionists are able to work independently by the time they finish their course and so should you. With proper guidance and knowledge, you should be able to work on all sorts of audio transcription and be ready to start your own business after completion of your course.
Every business requires efficient marketing to propel the revenues and get a strong client base. Though medical transcription business also requires marketing, it is certainly not at the same level, as do most other businesses. Most of the time marketing would involve telephone calls and personal meetings.
Being a home-based business, you just require 2 or 3 good clients to support and grow your business. Again, one saves a lot of money in marketing this business as compared to others.
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