What Factors Affect Transcription Pricing?

Businesses often choose to use transcription services to prepare written transcripts of important meetings. There are several factors that can impact the cost of using this type of service, including the length of the meeting, the format required for the transcript and the time frame in which the transcript must be finished and submitted. Since transcription pricing will vary somewhat from one provider to another, it is often a good ideal to obtain quotes from several different services and compare the range of options and the payment terms before settling on a single provider.

One of the first considerations with transcription pricing is the duration of the meeting itself. There are several rate structures in use for these types of services. Some providers use a format that calls for a flat rate per minute based on the actual duration of the meeting, while others may charge a fixed rate for the first 30 minutes to an hour, then apply a different rate structure for any remaining time. This means clients should take the time to calculate the approximate cost based on the length of the meeting itself, using whatever formula is provided by the transcriptionist.

Another important consideration with transcription pricing is the format in which the transcript will be delivered. Today, it is not uncommon for an electronic copy to be prepared, using one of several different choices in terms of word processing format. The document can easily be sent to the client via email, or it can be uploaded to a secure site where the client can retrieve the transcript with ease. Additional charges may apply if the client requires the completed transcript to be loaded onto a CD-R and one or more copies sent by post to various contacts within the client’s organization. Typically, there are fees associated with the preparation, shipping, and handling for each of the CDRs produced for this purpose.

Other issues may also have an impact on the transcription pricing. Requesting a priority processing of the transcript, in which a client wants the transcript completed and returned in a shorter period of time, will likely invoke an additional fee of some type. Unusual difficulties that hamper the process of transcribing, such as a poor quality audio recording of the meeting, may also mean the assessment of additional fees. Most service providers will include a listing of additional transcription pricing for various services and requests that are not included in the basic pricing for the job. Review of those additional costs and making some allowance for those additional costs will make it much easier to compare the overall cost of using various services, and allow the client to choose the one that is the most cost effective.