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Pay rates vary quite a bit, but in general, it is more lucrative to do medical transcription than medical billing and coding; note that voice recognition programs are increasingly replacing human transcriptionists, so this field does not necessarily have a bright future. According to the Bureau of Labor Statistics' Occupational outlook handbook, the median annual wage of medical transcriptionists was $32,900 in May 2010 whilst the median annual wage of medical records and health information technicians (medical billers and coders) was $32,350 in May 2010.

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Q: Who gets paid more medical billing and coding or medical transcription?
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Finding a Legitimate Work from Home Job?

There are many work at home jobs that a person can work full or part-time. In order to start working from home, a person needs to have at least a computer, high speed Internet, and a printer. Some works at home jobs require additional equipment, such as headphones, landline telephone, and a foot pedal. Transcription involves dictating or typing word for word audio in a Microsoft Word document. Transcription requires someone with a good listening ear. There are three types of transcription to get into, which are medical, general, and legal. Medical transcription requires a person going to an ADHI-accredited school, such as Career Step. Most companies require experience and going to an ADHI-accredited school is waived by the hiring company. General transcription is the easiest to get started in because it requires no training. There are many companies that hire beginners, such Mountain West Processing and TigerFish Transcription. Most legal transcription companies require a year of experience. A person with legal experience, such as a paralegal can easily get into this field. In medical transcription, the starting pay is $0.06 a line when working for companies. Most medical transcriptionists type at least 50 an hour because it takes a while to get to learn all of the medical terminology. If a person works eight hours a day, they will make $24 a day. Once a person starts getting more experience, the pay will double. The good thing about working for a company is that benefits are included when working full-time. A person can work as an independent contractor and charge $0.14 a line and make $56 a day in their first year. When starting in general transcription, a person is paid by the audio hour. For instance, if a client's rate is $40 an audio hour, this means if a client sends the transcriber 60 minutes of audio, the transcriber will be paid $40 no matter how long it takes for them to transcribe the audio. Once a transcriber gets experience, they can charge their own rates. Legal transcribers get paid by the page, which can range from $0.50 to $3.00 a page.