Medical Transcription: A Booming Profession in a Booming Market

medical-legal-transcription

Over the years the United States has seen a significant growth in the healthcare industry. This is simply because of population growth. The more the people, the more healthcare professionals will be in demand. So it stands to reason that the healthcare industry has grown massively over the last decade or so.

The Patient Protection and Affordable Care Act (PPACA)

The PPACA was passed in 2010. It basically states that people have the right to affordable healthcare and put certain regulations in place so that citizens can no longer be exploited by insurance companies. Now that dealing with insurance companies is no longer a stressful affair a whole new section of individuals seeking healthcare have come to the surface making United States the biggest  market for all professions in the healthcare industry today.

One healthcare profession specifically has seen some radical growth in the recent past—medical transcription. Especially in the United States, the demand for medical transcriptionists has surged phenomenally.

Why Medical Transcription?

A large chunk of the United States population is a combination of army spouses and/or young mothers looking to work from home. Medical transcription is the perfect option for army spouses because for one, it is a portable career. Secondly, even training for medical transcription is simple and can be done from home in as little as 4 months. So even if they are travelling they need not forgo their training in order to do so.

Young mothers can make productive use of their spare time, earn a supplemental income and also be there for their children as and when required. So there is no sacrifice that has to be made in terms of choosing your family over a career or vice-versa. They can sit back and enjoy the best of both worlds.

So if you are looking for a stable job with a steady income, at this point in time medical transcription is your best bet, especially if you live in the United States.

Here’s why the demand for medical transcriptionists has surged especially in the United States:

  • The healthcare industry always remains unaffected during times of economic instability.
  • Population growth has given rise to a higher demand for healthcare professionals all over the world, especially in the U.S.
  • The Law of Demand states that when the demand for a service (or good) increases, the supply increases as well. So, pure economics suggests that because there is an increase in the demand for healthcare professionals, there will also be an increase in supply.
  • 60% of jobs in the healthcare industry can be mastered without having to go through a college education. (Dental assisting, medical assisting, medical coding and medical billing, practical nursing, medical transcriptionist, etc.)
  • The number of online and regular career schools, offering a vast range of courses in healthcare, has increased considerably across the United States over the past decade.
  • Since career schools are both time and money efficient, a lot of young individuals are forgoing a college degree and opting for career schools, resulting in an increase in the number of newly trained healthcare professionals who are up for grabs.

A lot of individuals have already realized the upside of a medical transcription career and have enrolled themselves in medical transcription training schools that offer flexible online training such as Career Step.  Through online training, working professionals and stay-at-home parents can study from home without having it disrupt their current work schedules.

Resources

  1. http://www.bls.gov/ooh/healthcare/medical-transcriptionists.htm

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About Adler Moris

Professionally, I am writer, blogger and IM expert. But, my passion to keep me fit makes me able to share best what I've got about the perfect health. I love my work the most but my beautiful wife took first place after marriage :). However, I am huge fan of physical activities, meeting new people, reading and writing news to take my expertise to next level.