With the increase in need of preparing documents for maintaining records, transcription is widely followed by almost every department. To save much of their time, efforts and to concentrate on core job, these departments prefer professional transcription services. These types of services are present in the market in abundance and each of them comes with different charging methods, determining how much you are expected to pay after availing the transcription service. These methods result in different transcription costs. While there are some that cost less, there are others which turn out to be very costly. However, below mentioned are different methods that transcription providing companies adopt while charging for transcription. A clear understanding of each can help you find the most suitable option for you.
Fixed price is one of the methods transcription providing companies follow when charging you for transcription. Once you submit your recording to Transcription Company, it provides a quote, informing how much you are expected to pay for availing the service. Certain factors like number of speakers involved in the conversation, turnaround time, quality of recording, previous relationship with customer and many other factors influencing the cost are taken into account by the company to decide upon the fees. Availing fixed price transcription service can be beneficial as you have prior knowledge of what you are needed to pay and you do not experience any surprise fees. Also, you know your work will be completed within the specified time. Make sure that the company you choose is capable of delivering the transcription on time. However, a fixed price transcription service might not be an ideal option in case of fast turnaround time. For a fact you contact the company for its service and the company replies you back with a quote, the whole process can take some time.
Charging you for every typed line is another way companies follow to charge you for the transcription. One line consists of 65 key strokes. The company decides the rate for each keystroke with the transcriptionist which it is then offered to you. Transcription falling under this type of charging method is followed in medical industry. Unlike fixed price transcription service, you might not know how much you would be charged for transcription as knowing the number of keystrokes or lines for transcription in an audio, beforehand, can be difficult Therefore, you might not know what you are paying unless you are handed over the bill.
Another method of charging for transcription is per minute of audio. According to this method, you are charged a particular amount for every minute of transcription performed. Although, this is considered as a cost effective method, this might not be viable if your audio contains less words and more pauses. This is because the transcriptionist would still have to listen to complete recording to make out when in the recording is pause when it contains some words. However, with more pauses and less words to be transcribed, you would only waste your money using this service of transcription.
Therefore, carefully analyze every aspect of each transcription charging method before you choose the one, suitable to you.
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