Dear Anna,

The first thing you should do is to determine your business structure and follow your local/county/state/federal regulations about setting up your business. Most small business owners start out as sole practitioners using a d/b/a (doing business as) name. Is best if you retain an attorney to find out what would be in your best interest. The attorney could also help you out with getting the correct forms and filings in your area. I always recommend setting the business up first, so that you do not have to back-track down the road...do it right the first time!

As far as what to charge, it really depends on where you live. I know some medical transcriptionists who charge by the page and others who charge by the hour. Since I type 120 wpm, it is most advantageous for my clients that I charge by the hour....but, if you are not as fast at transcription, you may want to quote a rate by the page. Take some time to call other data processors, transcriptionists and home-based workers in your area (just pretend you are looking for prices) to find out a competitive rate. Additionally, remember that you are charging for the use of your home-office and not just your services. By hiring you, the client is not having to pay for your employee expenses or overhead, so be sure to adjust your prices accordingly.

Best of luck!

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