Industry Highlights

In This Issue:

A Summary of Interesting Things in the Industry…

Women/moms Benefit from Online Education

Being able to find time is one of the biggest obstacles most adults face when considering pursuing higher education. Although the career and personal benefits are clear, many adults simply don’t have the time to juggle work, friends, family, and class. That problem can be especially bad for mothers with children (and even worse for working moms), who are also usually responsible for the majority of the child- and home-related tasks.

For many, taking the time to drive to campus, attend class and take exams is simply not an option. The inflexible time commitments of attending a traditional school are daunting for an already over-worked mother of young kids. No one should have to choose between family and school.

For years, we have addressed the convenience of learning online. We pioneered it in 1998. That type of learning allows people to take classes from home at their own pace, without having to cut into family time in the evening.

These benefits may be a key reason that mothers across the country are taking advantage of the internet to learn a career. Based on a recent survey by the Department of Education, adults with children under 10 are a swiftly-growing segment of higher-education students. With the growth of options in online education, it’s no surprise that more busy parents are finding time to learn more, pursue new careers, and save lots of time and money in the process (not to mention reduction of commuting, babysitters, etc.).

It’s too expensive to be a primary-care doctor

…a synopsis from Debra A. Geihsler is president and CEO of Harvard Vanguard Medical Associates & Atrius Health.

An alarming shortage of primary care physicians is here. There are a variety of reasons for this shortage, including the reimbursement model that favors costly specialty care. The problem is complex but clearly shows a need to be able to treat patients in the midst of this drastic deficit. The healthcare community has to act quickly but there needs to be a leadership and congressional assistance to overhaul the system so that preventive care is rewarded, and forms the foundation of the healthcare model.

A shift from the current care model to a more coordinated care model centered on primary care is one potential way to help stave off the healthcare dilemma. The traditional approach treats patients with chronic illnesses with 75 percent of the country’s healthcare spending used for chronic disease. A plan must be made geared to keep patients healthy and ideally thwart the onset of chronic illnesses.

Medicare officials are trying to find new ways of reimbursing doctors, focusing on quality of care rather than the number of tests and procedures performed. The initial results of a recently reported three-year study of 10 physician groups from across the country reveal that doctors can help reduce overall healthcare costs by coordinating care and preventively managing chronic illnesses. Two of the groups saved Medicare $9.5 million in the first year, and were paid $7.3 million in bonuses as a result. The project began in April 2005, so there is more data to be collected, but the trend is positive.

Even though patients receive 95 percent of their healthcare outside of a hospital, it’s just too expensive to be a primary-care doctor in America today. State medical societies are warning that by 2020 the country could be short as many as 200,000 licensed doctors. More than a third of physicians are older than 55 and are planning on retiring or reducing their caseloads in the next five to 10 years, according to the American College of Physicians. At the same time, demand is increasing exponentially as the nation ages.

There can be both cost savings and improved health for citizens. Of course, changing the existing paradigm will not be easy. But that’s why the next president should take the lead on rewarding and recruiting primary-care physicians whose specialty is the welfare of patients.

Interesting Earning Projections – Medical Transcription

This chart will give you the low end of what you can expect to make as a Medical Transcriptionist. This is figured at a STARTING RATE of 8 cents per line. The dollar figure is the GROSS ANNUAL INCOME.

Days Worked Per Week Number of Lines Typed Per Day

Gross Annual Income
Lines –> 500 1000 1500 2000
2 $4,160 $8,320 $12,480 $16,640
3 $6,240 $12,480 $18,720 $24,960
4 $8,320 $16,640 $24,960 $33,280
5 $10,400 $20,800 $31,200 $41,600

Now if you get your own clients, DOUBLE THAT. If you type faster, YOU’LL MAKE MORE. If you work more, YOU’LL MAKE MORE. If you get your computer doing some of the work for you, YOU’LL MAKE MORE. If you make more than 8 cents a line, YOU’LL MAKE MORE. You get the idea. Some people have been known to average between $40 and $50 AN HOUR! Most people make MORE THAN $20 AN HOUR. Any way you look at it, medical transcriptionists can make EXCELLENT MONEY!