To start with we need to make clear the difference between Medical transcription salary and wages.

Salary and wages are the main forms of payments made to an employee. Generally they are considered to be payments made:

• To an individual
• As remuneration for services, and
• Provided under a contract of service (employment contract)

Unless specifically exempted from tax, all salary and wage income must be declared on your tax return.

Workers may also work as medical transcription contractors. There are criteria around contracting work as well.

What is the difference between wages and salary?

A salary is a fixed periodical payment paid to a person for regular work or services, whereas a wage is usually paid by the day or week for work or services which are of a more irregular nature.

Examples

Sally is employed as a medical transcription editor and receives a medical transcription salary income. She has regular set working hours and receives an annual income of $52,000 which is paid to her on a fortnightly basis.

Tanya is employed as a medical transcriptionist and receives a medical transcription wage income on a weekly basis. Her working hours change from week to week in line with current workload, and her annual income is dependant on the number of hours she works.

There are key factors to achieve the medical transcriptionist salary you deserve. Statistics for transcription employees in the health care industry are helpful to give you an idea of the likely returns for your work.

For those who want to know how to get the best Medical Transcription wages they can, there are keys to achieving top wages.

One thing well worth considering is the fields of medical billing and coding. They make a great back-up to the medical transcription field and by adding to your skill base, you become more valuable to any employer.

Medical transcription salary and wages certainly vary with some transcriptionists feeling frustrated and thinking that they are not paid what they are worth.

Take the time to read all this information including the two key pages (links above) and you will be more directed to achieving the best reimbursement possible.

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