Medical transcription has been a very rapidly growing industry and has been classified as an IT-enabled service. In other words, it does not require highly specialized IT or software development skills. Because of limited skill-set, it provides unlimited opportunities to make dynamic and unique contribution to quality patient care and health service. Health care has always been a rapidly growing field and hence the demand for medical transcribers will be ever increasing. Coupled with the high level of job security and minimum skill-set, medical transcribers will usually receive a good premium for their services. Medical transcription is a portable skill that allows for professional and geographic mobility. Medical transcriptionists have more control over their careers than most occupations. One can even choose where and when to work within reasonable limits. There are lots of options available. One may choose to work from home or as an employee of a medical transcription company or hospital. Other options include working in a doctor's office, insurance company, attorney's office, or a company marketing medical products or even in a medical book publishing company. It’s a field where experience really counts and so age restrictions are usually not found. Medical transcription can be a satisfying lifelong career providing a constant challenge of an expanding and advancing technology.
With job security concerns being negligible, and the stable and constant high rewards, it is really one of the most stable and always growth-oriented industry being necessarily a part of general health care services. A current estimate is that there are a total of over 67 billion lines of transcription done annually in US. While most transcription related to patients seen in the United States continues to be done within its boundaries, much of it is done across state lines and an increasing amount is being done offshore (e.g., in India and Philippines).
As per U.S. Department of Labor there will be a constant need for good medical transcribers and medical language specialists. The medical industry is virtually recession-proof and hence, if one is good at his work, there is no dearth of generating employment for oneself. Salaries for medical transcriptionists range widely. Certain areas in US pay more and cost of living is higher. A salary estimate for the first year after training can range from $20,000-$27,000 and this may eventually lead to $40,000-$50000 depending on experience and skill-sets gained.
With more experience, qualified medical transcriptionists who wish to expand their professional responsibilities may choose to become department heads, supervisors, managers, or owners of medical transcription services. Experienced medical language specialists may become teachers, working in schools and colleges and educating future medical transcriptionists and thereby look for better growth and monetary rewarding opportunities.