This was funny! For the past few years wages for medical transcriptionists have been stagnant due to overseas competition. In fact I was happy to find a place that would pay between 8 and 10 cents a line! This particular overseas service only charges 6 cents a line- but when I looked at the cons, I noted that "punctuation and grammar" had to be inserted!! Too funny!
Currently, the cost of full-time, offshore (overseas) legal and medical transcription, that is, a volume of work equal to the workload of one full-time transcriptionist, averages approximately US-$600.00 per month.
More precisely, the billing method is based on a 65-character line - including spaces - with each line billed at US-$.06 (6 cents). At US-$600.00 per month, this would equate to 10,000 lines (650,000 characters) of transcribed data per month, or 500 lines (32,500 characters) per day based on a 20-day work month.
Do the math yourself. Count the number of transcribed lines (65 characters) completed daily, and then multiply this figure by 6 cents.
What are the advantages of offshore legal and medical transcription?
Pay only for the actual work performed
Take holidays and pay nothing
No overtime costs to pay
No taxes to pay
No employee benefits to pay
No advertising/recruiting costs to pay
Transcribed files are proof-read by a supervisor before being returned
What are the disadvantages of overseas medical and legal transcription?
Because the transciptionist is located offshore - India or the Philippines - instantaneous changes to the dictated materials is not an option, although this can be done in your own word-processing programs before printing the work
Legal and medical transcriptionists type only what is contained in the recorded materials (no guessing and no creative gap-filling)
Punctuation, grammar must be inserted in your dictation