THE INDEPENDENT MEDICAL TRANSCRIPTIONIST, 5th edition
The Comprehensive Guidebook for Career Success in a Medical Transcription Business
by Donna Avila-Weil, RHIT & Mary Glaccum
ISBN 978-1-877810-04-6 Softcover, Layflat, 528 pages, 7 x 9
NEW OPPORTUNITIES FOR INDEPENDENT MEDICAL TRANSCRIPTIONISTS
For Novice & Seasoned MTs
Medical transcription is a multibillion dollar industry that offers flexibility and independence in a respected professional career.
THE INDEPENDENT MEDICAL TRANSCRIPTIONIST gives you a comprehensive guide to the profession
+HOW TO START and successfully run your own professional independent medical transcription business.
+HOW TO BLEND your career and lifestyle, working when and where you choose.
+HOW TO SAVE time and money using the latest technology.
+HOW TO TAP INTO MT TELECOMMUTING opportunities and access a global client base.
This edition includes updates on telecommuting, global services, time-saving equipment, marketing tips, software, voice recognition, Internet resources & networking, professional issues, education, working smart, resources & references.
Tables show standard regional billing rates and number of hours of daily transcription needed to generate $80,000 a year in billings in order to make $40,000 net income.
Hundreds of topics & numerous resource lists. Covers skills vital to success, education, home office set-up, software, telecommunication, pricing, business operations, ethics, risk management, finances, taxes, insurance, contracts, legal issues, much more.
Telecommuting has never been more appealing or exciting, and medical transcriptionists (MTs), who have long enjoyed the benefits of working from home, can now take advantage of the latest high-tech innovations to build and expand successful businesses while traveling and living in remote locations. The steps to worldwide MT success are clearly and comprehensively described in the fully revised fifth edition of The Independent Medical Transcriptionist, A Comprehensive Guidebook for Career Success in a Medical Transcription Business by Donna Avila-Weil, RHIT, and Mary Glaccum.
In the burgeoning healthcare field, skilled medical transcriptionists play a vital role, transcribing and fine-tuning physician dictation into the comprehensive, accurate medical records required by law and essential to quality patient care, medical reviews, third-party (insurance) reimbursement, and many other purposes. Both novice and seasoned MTs benefit from The Independent Medical Transcriptionist, which is recognized as the bible of the independent medical transcription industry. The book covers hundreds of topics and virtually every factor necessary for independent MT success. Extensive fourth edition updates include new information on innovative telecommuting technologies, equipment for mobile transcribing, resources for mobile and remote transcribing, the Internet, websites, resources for blind transcriptionists, and much more.
TABLE OF CONTENTS:
• What Is Medical Transcription? • The Health-care Industry + Information Management (IM) + The Importance of Transcribed Reports in Health Care Today + The Medical Record & Quality Assurance + Illegible Entries + Why Transcribed Documentation Is Important + Legal Proceedings & the Medical Record + Confidentiality of the Patient Record + What Is HIPAA + The Future of Health Information Privacy + New Technology Demanded + The Computerized Patient Record (CPR) + HIPAA Compliance + The Business Associate Agreement • Is Independent Medical Transcription the Profession for You? • The Entrepreneurial Personality + Experience + Rural Versus City Transcription + Dialect Difficulties + Hospital Versus Medical Office Tran-s-cription + Opportunities for the Visually Impaired Transcriptionist + Speech Synthesis Technology + Opportunities for Court Reporters in Medical Transcription + Court Reporting Technology for Medical Transcription • Establishing an Independent Medical Transcription Business • The Independent Transcriptionist’s Work Site + Advantages of Self-employment + The Multi-talented Transcriptionist + Doing Your Homework before Going into Business + Joining Professional Organizations + Business Alliances + Business Publications for Independents + When in Doubt, Confer with an Expert + Telephone Queries from Novices + Breaking into the Field the Right Way + The Competent Home-based Medical Transcriptionist + Testing the Waters + Consider Moonlighting + Working for a Service + Productivity Pays + Hours in Your Work Week + Determining Your Production Capabilities + Rate of Production Formulas • Medical Transcription Education • AAMT’s Compro + Beyond the Basics + Junior College Courses + For-profit Transcription Schools + Home Study Courses + SUM Program + Internet Resources for MT Training + Lessons After School + Medical Transcription Student Network + Certification of Health Care Professionals + Maintaining Certification + Other Certification Examinations • Building a Successful Home-based Business • Before Going Solo + Facing Independent Reality + Establishing Priorities + The Employer Mentality + Managing Family Life + Childcare + Family Communication • Marketing • Market & Competition Analysis + Innovative Marketing — Your Blueprint for Success + The Marketing Plan + Business Promotion & Advertising + Pricing + Selling Your Services + Six Suggestions for Success + Money-saving Marketing Ideas + Establishing a Business Plan + Budget Assumptions for Home-based Businesses + Getting Facts/Adequate Information + Your Target Market + Directories + Advertising in the Yellow Pages + Evaluate the Competition + Transcriptionist Networking + Internet Information Resources + Computer Online Interactive Information & Communication Services + High-Speed Internet Access with DSL + Gathering Facts at the Chamber Of Commerce + Staying Abreast of MT News & Industry Trends + Romancing the $$$ + Defining Your Market + Your Client Base + Ancillary Departments + Mailing Labels + Newspapers + Personal Advertising + The Bottom Line — Obtaining Clients + Marketing Your Specialty + Business Cards + Business Address + Cover Letter + Resume + Fliers + Brochures + Marketing Via Networking + Advertising in Trade Publications + Marketing Through the Chamber of Commerce + Word-of-mouth Referrals + Cold Calling for the Self-confident + Armed with Business Card & Flier + Managing “No, thank you.” + First Impressions Linger Longest + Informational Packets + The Interview + Do Not Beg for Business + Advertising + Public Relations + Maintaining a Client Base with Creative Follow-up + Follow-up Check List + A List of prospective Clients • Business Ethics • Medical Record Confidentiality + AAMT Code of Ethics + Unethical Transcriptionists + Nondisclosure Agreement (Sample) • Business Operations • Getting Started — Studying the Facts & Organizing + Choosing a Business Name + Building a Big Image + Legalizing the Name + Licenses & Permits + Incorporation + Finding a Mentor + The Winning Attitude + Setting Boundaries in Your Business + Communication & Assertiveness Skills + Taming the Great & Powerful G-Woz + Complaints + Why Clients Will Stop Doing Business with You + A Theory of Negativity + Medical Transcription Age of Innocence + Facing Our Fears + Show Me the Money! Taking Charge + Triumph Over Negativity – A Personal Story + Home-based Temptations + Planning for Success + Coping with Distractions + Maintaining Motivation + The Workplace + Avoiding Isolation at Home – Don’t Go There! + Selecting Home-based Business Space + Pricing Your Transcription Services + Pricing Research + The Effects of Capitation & Managed Care + Charging by Line, Character, or Page + Counting Calculations + What Is a Unit of Measure? + What Is a Standard? + Line- & Character-Count Software + Underpricing + Doing Business at Any Price Higher Fees Succeed + Line Rate Factors + Count Calculations + Computer Literate Physicians & Pricing Services + Special Charges + Questions For Prospective Clients + Raising Rates + Rules of Engagement + Writing a Successful Proposal + Contracts + Open-ended Contracts + Verbal Contracts + Fine-tuning the Contract + Billing for Services + Twelve Ways to Guarantee Payment + Maintaining Clients + Clients Who Depart Unexpectedly + Gifts for Clients + Charging Interest on Accounts + Government Contract Payment + Collecting from Poor Paying Accounts + Dealing with a Chronic Complainer + Bounced checks + Firing an Account + Ending a Client Relationship + Unscanned Work + Determining Turnaround Time + Prioritizing Tapes + “STAT” Work + Formats + Hospital Formats + Medical Office Formats + Digital Dictation + Piracy over the Airways + Setting up Your Home-based Office + The Medical Transcription Office – Equipment + Computer + Printer + Modem + Fax Machine + Fax Modem + Software + Reference Books + Places to Evaluate Computers + The Desk + The Chair + Computer Technology + Choosing a Computer + Learning About Computer Equipment + Buying a Used Computer + Computer Serial Number + Keyboards + The Kinesis Ergonomic Keyboard + Computer Printers + Dictation & Transcribe Units + Dial-&- Dictate Transcription + Digital Dictation + What Does “Digital” Mean? + How Does Digital Dictation Work? + The Virtual Reality of Speech Recognition Technology + What Is Speech Recognition Technology? + How Speech Recognition Technology Works + Taking Advantage of Technological Transitions + Other Excellent Computer Software + Other Computer Hardware & Software + Software by the Truckloads + WordPerfect 5.1 Vs. Windows + Register Software + Never, Never, Never! Borrow Someone Else’s Software + Computer Aided Transcription (CAT) Technology — Or How You, Too, Can Type 225 Words A Minute + Telephone Answering Machines + Telephone Company Voice-mail Service + Modems + Safety through Surge Protectors + Computer Backup + Backup Systems + Interactive Technical Support + Fax Machines + Advantages of Owning a Fax Machine + Paper Shredders — The Great Paper Chase + Miscellaneous Supplies + Calendars + Reserve Capital + The Cost of Running a Personal Computer + Escaping Data Disaster + Backing Up Input + Diskette Care & Maintenance + Computer Care & Maintenance + Computer Housecleaning” + File Compression Programs + Computer Consultants + Utilizing Video Libraries & Audiocassettes + Recording Your Computer & Software Information + Beware the Virus + Increasing Typing Speed with Abbreviation/Expansion Software + Keystroke/Abbreviation Software + Personalizing an Abbreviation Software Program + What To Do with That Old Computer + Macros + Computer References & Resources + Rx for PC Health + Move It or Lose It + Ergonomics + The Eyes Have It + Lights Out + Keyboard to Success + Cumulative Trauma Disorders + New Tools to Relieve Repetitive Strain Injuries + The EMF Flap + Five Exercises to Prevent Injury + Massage Those Muscles + Reference Books + Utilizing Consultants + Workshops & Seminars + Beware of Experts Who Aren’t + Accounts & Supplies + Alert! Alert! Erasing Tapes • Telecommunication • Reasons to Telecommute + Who Are the Telecommuters? + Telecommuter — The Professional + Transcription Anywhere + Internet + Online Global Communications + The Seven-Second Commute + Riding the WAVE + ASP/TASP Application Service Providers + The C-Phone + Preparing to Telecommute + The Modem + The Telecommunications Program + Servicing Clients Through Telecommunication + What Is Practical for Individual Clients + Telephone Charges + Researching Telephone Services + Telecommuting for Remote Services & Clients + Going Mobile + Site Planning + Mobile Security + Transcription Services That Use Home-based Transcriptionists + Dos & Don’ts for Online Communication + Telecommuting Lingo + Expressing Your Emotions Via Telecommuting + Protecting E-mail Communication + Quality Improvement + Quality Versus Quantity + Errors in the Medical Record + The Fine Art of Editing • Quality Improvement • Keeping One Step Ahead of the Headhunters + Taking a Proactive Approach When Renegotiating Contracts + The Power of Sharing Experience + The “Net Set” + Creating Your Own Website + AAMT Quality Control For Medical Transcription + Incentive Programs + Productivity & Turnaround + Continuing Quality Improvement Management + Audit Log Sheet (Sample) + Time Management + Flagging & Leaving Blanks in a Report + Once Upon a Time Before Computers • Risk Management & Insurance Protection • What Is Risk Management? + Limiting Exposure To Loss — Avoiding Risks + Transferring Risk + Essential Coverages + The Role of the Insurance Professional + Insurance Protection + Standard Insurance Coverage for Self-employed Businesses + Creating an Inventory List + Group Insurance Policies + Insuring Against Catastrophe + Get with the Program + Recognize the Risks + Have a Risk Management Plan + Get Professional Advice + The Errors & Omissions Controversy + Examples of Liability Waivers + Preventing D.P.S. (Deep Pocket Syndrome) + Liability Insurance + Waiver of Liability & Indemnification Clauses + Computer Security + Protecting Your Investment + Beliefs & Attitudes + Antivirus Techniques + The Target + Hardware Techniques + Information Security Basics + Prevention + Who Are the Criminals + How to Discourage Hackers + Software That Combats Malicious Codes + Networks + Some Final Thoughts on Computer Security + The Unlicensed Software Police + Maintaining Fax Confidentiality + Confidentiality & the Cellular Phone + Autoauthentication + Autoauthentication — An Accident Waiting to Happen + AAMT Position Summary + Confidentiality + How to Make Tough Decisions + Avoiding Risky Business • Outsourcing (Subcontracting) • Evaluating Outsourcers + Paying Outsourcers + Terms of Agreement + When You Are an Outsourcer + Outsourcer Underbidding + Outsourcers & the IRS + Outsourcing Isn’t for Everyone • The Independent Contractor • Benefits to Independent Contractors + Basic Characteristics of Independent Contractors + How Firms Benefit by Hiring Indepen-dent Contractors + Risks to the Independent Contractor + Independent Contracting & the Twenty Common Law Principles + Six Factor “Economic Realities” Test + The Bottom Line + Additional Protection For the Independent Contractor + Office Records + Log Sheets + Records + Separating Your Personal & Busi-ness Checking Accounts + Applying for a Business Loan + The Small Business Administration (SBA) as a Business Ally + SBA Small Loan “Low Doc” Program + SBA “Low Doc” Primary Credit Considerations + SBA “Low Doc” Loan Application Requirements + Deciding Whether to Keep Growing + Expanding to a Medical Transcription Office + Burnout + Hidey-Ho: The Long Ranger! Options for Long-Range Planning Working for a Medical Transcription Service + Thinking Globally • Finances • Financial Needs & Capital Invest-ment + Watch Your Costs & Expenses + Using a Business Credit Card + Equipment: Leasing or Renting Versus Buying + Leasing Equipment + When Not to Lease Equipment + Paying Yourself + Tax Incentives: Business Taxes + Types of Taxes + Federal Taxes + Form 1099 & Your Business’s Income Taxes + Tax Deposits + Social Security Taxes (FICA) + Check Your Social Security Record + Employer’s Identification Number (EIN) + Estimated Tax Payments — A Horror Story! + State Taxes + How to Earn $40,000 Net Income + Business Income Tax Deductions + Home-sweet-tax-deduction + When the Home Office Deduction Is Not the Best Option + Automobile Expenses + Interest on Car Loans + Who Should Lease & Who Should Buy? + Business-related Travel Expenses + Education Expenses + Expensing & Depreciation + Records Needed for Tax Purposes + Tax Sheltering Through Retirement Plans + Simplified Employee Pension (SEP) + Individual Retirement Account (IRA) + Health Insurance + Should You Hire an Accountant, B-ookkeeper or Tax Preparer? • Why Businesses Fail • Lack of Planning + Inexperience + Insufficient Financial Records + Inadequate Cash Reserves + Excessive Overhead + Overexpansion + Complacency + Competition + Poor Salesmanship, Poor Service • What’s Ahead • Will Technology Replace Medical Transcriptionists? • Challenges, Choices & Change + Positioning Your Business in the Global Marketplace • Summary • Problem Solving — Questions & Answers • Resources • Associations, Organizations, Networks + Information Resources for Blind & Visually Impaired Individuals + Newsletters & Journals for Blind & Visually Impaired Individuals + Networks, Bulletin Boards & Databases for Blind & Visually Impaired & Expens Individuals + Books & Pamphlets for Blind & Visually Impaired Individuals + Educational Opportunities for Medical Transcriptionists + Medical Transcription Resources on the Internet + Speech Technology & Medical Transcription Services + Gear for Long-Distance Telecommuting + Laptop/Desktop Resources + Sending/Receiving Dictation/Documents + Connection Spots + Overseas Travel — Starting Points + United States Chambers of Commerce + Our Favorite Reference Books + Publishers Specializing in Health Care Books + Other Resources for Health Care Books + Products & Services + Catalogs + Continuing Education + Magazines & Newspaper • Publications • Bibliography • Glossary • Appendix: AAMT Model Job Description: Medical Transcription + Budget Worksheet + Sample Contract + Sample Contract Addendum — HIPAA Compliance Business Associate Agreement • Index