For companies in need of insurance transcription services, fee structures are an important consideration. Companies can use a variety of fee structures for these services and if you choose a company using certain pricing models, line per-line pricing, you could see your transcription costs skyrocketing.
Typical Fee Structures
Companies can charge by the minute – using a transcriptionist’s typing time as the basis for their fee. Some charge per transcribed line – either by the number of final transcribed lines or by the number of lines given for transcription. Others use a more cost-effective method and charge per character.
Benefit of Cost-Per-Character Fee Structures
This method is much less expensive than the pay per line method, because there are multiple ways to determine how many characters are in a line and some companies add a per-page charge to transcription projects, on top of the per-line fee.
At companies that charge per character typed, there is typically some flexibility in the length of the document. Some companies charge for each character, convert that into a line count and then multiple the line count by a base rate to determine the full bill. These companies typically don’t bill for pages or fees based on the length of the dictation that a transcriber deals with. As a result, this fee structure typically saves client money.
If you’re looking for a company to provide insurance transcription services, your best bet is to choose one that charges the fewest fees, has fee structure that is clearest and the easiest to understand.
Echo Documentation Solutions offers transcription services for a variety of industries, including transcriptions for insurance purposes. With 14 years in the transcription business and teams of professional transcriptionists and editors available for proofreading, customers get clean, accurate copy every time. Contact us today to discuss your transcription needs.
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