Employment of medical transcriptionists is projected to decline 3 percent from 2014 to 2024. Technological advances have changed the way medical transcription is done. Fewer transcriptionists are projected to be needed as speech recognition software and other technological advances make transcriptionists more productive.
The number of individuals who have access to health insurance is expected to continue to increase because of federal health insurance reform. The increasing volume of healthcare services will result in a growing number of medical tests and procedures, all of which will require transcription.
However, technological advances such as speech recognition software allow transcriptions to be prepared using fewer medical transcriptionists. And as healthcare providers seek to cut costs, some have hired transcription services to do transcriptions rather than do them in house. Some of those services are being contracted out to other countries which hampers employment growth domestically.
Prospects should be better for transcriptionists with formal education and for those with experience in electronic health records (EHR) management, training, and quality assessment. Job opportunities will stem from transcriptionists who retire over the next decade, creating opportunities for new transcriptionists.
Percent change in employment, projected 2014-24
Other healthcare support occupations
Total, all occupations
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Employment Projections program