Do you think home based medical transcription is a good option?

Yes, it is a good idea to start working from home. I you have good knowledge of medical terminology related with various medical fields like oncology, cardiology, rheumatology, orthopedics, gynecology, pediatrics, etc. you can start working from home as an MT. It also requires extensive knowledge of English grammar and usage. If you are good at laboratory values, i.e., have good knowledge of common lab values like what are normal levels of potassium, calcium, and other elements in body; what are normal blood pressure levels; what are normal blood sugar levels, and what are cholesterol levels and alike, you can easily start it from home. Knowledge of style is also essential to get success. Many of my friends are doing transcription from home, and they are very satisfied with it. They enjoy working from home at their own pace. They are saving fuel to reach office everyday. But starting from home needs ability to work independently, you have no peers to help at home. No one is there to guide or help you when you have a challenging job to complete. Overall, home based transcription have proved a very good job with high earning potential in India. Majority of workers or transcriptionists are housewives here. They are contributing to their household income in a very professional way.

This kind of home work usually pays very well. Like any home work, the hours are flexible because it is essentially freelance work. Any specialised transcription or translation work - medical, scientific, legal or from any other discipline - requires a specialised knowledge of technical terms and, preferably, some understanding of the subject. It is because of this specialised knowledge that it can pay well. It is very likely that, having found an agency to supply you with work, they will want to test your ability, knowledge and reliability in producing good work on time and efficiently. It will be on the basis of such tests and your continued reputation that they will hire you. Since you will be self employed, you will need to advise your tax authorities of this and you will need to keep accurate and sufficient records of your payments and expenses. Most tax authorities can supply information and help to people starting out as self employed and you should also get in touch with an accountant who understands self employment. You will need a qualified accountant to audit your books for your tax returns. Self employment may seem daunting to many, especially when it comes to book keeping and tax returns, but the skills can be learned and much help is available. Be aware, too, that many things can be claimed as 'expenses', including the heating and lighting of the area of your home that you define as an office. Your accountant should be able to advise you of what you can - and should - claim against tax.

This would have to depend on the effort you put into it and the reasons behind it. I think it could be a wonderful opportunity to make a living and have a successful home life as well. Nothing can ever be taken for granted.