Basically, there are two kinds of transcription -- medical, and everything else. Here’s a look at what transcriptionists do, and the companies who hire them.

Non-Medical Transcriptionists
A professor gives a lecture. A panicked babysitter calls 911. A driver calls his insurance company to report an accident. A TV news team reports on a flood. A court holds a hearing. Each of these events, and many more, generate audio recordings which must often be transcribed into text. As with medical transcription, much of this work is done from home.

Companies who hire transcriptionists for these and similar assignments include Net Transcripts, Morningside Partners, Ubiqus and TypeWrite Word Processing. (For more, see our list at http://www.ratracerebellion.com/jobs-transcribe-non-med.htm.)

Qualifications will vary by company -- some employers are more interested in work experience than a transcription background -- but high-speed Internet and a decent typing speed (65 wpm - 75 wpm) are a must. You’ll also need adequate headphones, and a digital foot pedal may sometimes be required as well.

Medical Transcriptionists
Experienced home-based “MTs” are in high demand, and in our job research we see new leads every day. In fact, the US Bureau of Labor Statistics (BLS) predicts the field will grow by 14 percent (“faster than the average”) from 2006 to 2016. Much of this, they say, will be driven by a growing and aging population.

The BLS also notes that U.S.-trained transcriptionists will be more in demand than offshore providers. MTs have another edge, too, says the BLS, because “reports transcribed by overseas medical transcription services usually require editing for accuracy by domestic medical transcriptionists before they meet U.S. quality standards.” (For more, see www.bls.gov/oco/ocos271.htm.)

Medical transcriptionists are hired as both employees and independent contractors (self-employment). Most of the job leads we see for virtual MTs require two to three years’ experience, often on-site in a hospital or doctor’s office.

MTs are usually paid per line, and according to MT expert Michele Miller earn roughly $12-$18 when working on-site, and up to $30,000-$50,000 per year when self-employed full time. (For more detail, see her article at www.ratracerebellion.com/EC_medtran.htm. For a list of the more than 50 companies who hire home-based MTs, see www.ratracerebellion.com/jobs-medical.htm.)

Focus, Concentration, and a Quiet Office are Key
Regardless of demand, transcription isn’t for everyone, so be sure to “look before you leap.” Both medical and non-medical transcription require the ability to focus while listening and while typing, with a sharp ear and eye for detail.

To earn a reasonable hourly rate and meet deadlines, you’ll also need to work effectively, with minimal interruptions. In other words, if you have children you may find yourself working evenings, which may bring more stress than the pay justifies. As always, your own unique circumstances will determine what’s best.

To find more careers in the medical transcription field, visit Military.com's Careers channel.