How do transcription companies charge for transcription services

Transcription services provided by transcription companies are utilized by law firm, real estate firms, corporates, writers, bloggers (podcasts), academics and others.

Transcription is the process of converting audio recordings called dictations into text usually using word processors (MS Word), an audio player and a foot pedal.

Transcription companies charge differently.

Transcription companies charge using different parameters:

1. Number of pages
2. Number of lines types, also known as line count
3. recorded length of dictation
4. time spent or per hour of work

Other factors for determining the cost may include:

• Number of speakers
• Quality of recording/dictation
• Turn around time - whether urgent or not
• Type of payment they agree to with the law firm: whether payment is on monthly basis or lumpsum.
• Whether research is required or not, etc

Having said that, it's most common to find transcription service providers charging per recorded length of audio or video. Usually, 1 minute of audio transcription may cost you anything between $0.50 to $3.00.

Transcription service customers benefit from such outsourcing transcription companies by saving time, money and resources in the short and long-term.