Transcription Services Rates: Common Pricing Structures
Transcription service cost is charged in a variety of ways. That’s why there is often some confusion around transcription services rates and how they work.
In this article, we’re going to explain transcription services rates to help you get a better understanding of them. This will include some common prices, pricing structures, and more.
The cost of transcription services is often charged differently.
Below, we’ve explained the four most common pricing structures for audio transcription services:
1. Per File Minute
This pricing system is very common. Here, you’ll be charged transcription rates per minute of your audio or video file.
Transcription rates per audio minute are good, as you’ll know how much you will be charged in advance.
2. Per Text Line
Another way you could be billed is per text line. This type of transcription service pricing is quite common in the medical industry and other specialist industries.
A line is usually defined as 65 characters (including spaces).
3. Per page
Charging per page is especially common for copy-typing projects. Copy typing projects are where a document is created from another document, instead of from an audio or video file.
In some cases, this is also used for other types of projects.
Last but not least, another common pricing structure is paying the transcriptionist on an hourly basis. This is quite common if you were to hire a freelancer and have them transcribe your file for you. However, this has a disadvantage for you which is that you’ll pay a minimum rate hourly, no matter the quality of the result. Plus, you can also sometimes end up paying more than expected.
When you work with companies like us, this won’t be the case, as we’ll give you a free quote before the project even starts.
Read Also: How to Transcribe Faster
What Affects The Transcription Services Rates?
The first and most obvious factor, of course, is the overall quality of the transcription. The better, the more expensive (usually speaking). Getting your audio or video file transcribed from native speakers will usually cost you a little more, but it’s worth it because it will be a quality transcription.
Another main factor that goes into transcription services rates is the quality of the audio. Why?
Because, if the quality of the audio makes it hard to understand, it can often take a lot longer to transcribe it.
Some common audio qualities which may cost you a little more include:
- Distracting background noises
- Too quiet audio
- Distorted audio
- Audio with too fast speakers
- Audio with heavy cross-talk
- Audio with additional custom requirements
Another factor that affects the price is delivery time. If you need your file delivered in a short space of time such as one to seven days, this will also cost you a little more.
Finally, another factor that affects the price is the industry. In specialized industries like medical, finance, law, legal or academic you’re also likely to come across higher prices. This is simply because they usually require more time and effort because of specialized terms.What Are Common Transcription Services Rates?
Of course, there are various factors that we mentioned above that affect transcription services rates. But, we still wanted to give you a general idea of each type of pricing structure.
- Per file minute: Usually ranging from 90p per minute to £2 per minute
- Per text line: Usually ranging from 5p to 15p per line (often used in medical)
- Per page: Usually ranging from £3-£15 per page
- Per hour of transcriptionist: Usually £20-£45 per hour
Again, there are quite a lot of variables, so these are just averages of transcription services costs.
Tips For Lowering Your Transcription Costs
If you are looking for transcription services regularly, it would probably make sense to try to lower the fees. That’s why below, we’ve highlighted some of our tips that might help you lower the fees in the long term.
- Use high-quality recording equipment: If you are recording regularity, it would make sense to invest in high-quality recording equipment that records clearer and easier-to-understand audio. For example, you could use a digital handheld recorder instead of a phone.While the purchase may cost you a little at first, it should reduce your transcription fees in the long term because it’s easier to transcribe.
- Record in-person: Another one of our tips would be to record in person instead of over the phone. This will improve your audio quality a lot. If you for whatever reason can’t record in person, you can use a digital recorder combined with a pickup mic which can also work well.
- Avoid background noise: Background noise is also something that can make your audio much harder to understand. By recording in quiet settings you’ll be able to get much clearer audio. You can also test the audio before you start the recording to see whether every person speaking can be heard.
- Take turns speaking: Cross-talk can make audio much harder to understand too. If you are recording a group speaking, make sure that everyone is taking turns speaking. You can even appoint a group member for making sure there is no cross-talk.
How Much Will I Pay for Transcription? Get a Quote!
We hope that you have enjoyed this guide on service transcription rates and the cost for transcription services.
If you are looking for transcription services, you can contact us.
We offer a range of transcription services and all of our professionals are native-speakers, meaning you don’t need to worry about the quality.
You can also tell us a little more about your project and request a free quote, so you’ll be able to know the exact transcription prices.
Transcription Service Rates: Frequently Asked Question
Lastly, we just wanted to cover some frequently asked questions to the rates for transcription services.
What Transcription Pricing Model Is Best?
All of them work well for their own purpose. The only ones we wouldn’t recommend is the hourly model, as you don’t know how much the video transcription will cost you until it’s finished. As long as you know the transcription price in advance, there shouldn’t be a problem with the price structure.
What Is The Most Common Transcription Cost In The UK?
The most transcription costs in the UK is usually anywhere from £1 to £1.50 per minute. This is usually what you would expect to pay when looking for a transcription service rate.
How Do I Know Whether My Industry Counts As a “Specialist Industry”?
Common “specialist industries” include:
- Law Transcription
- Business Transcription
- Digital Transcription
However, in some cases, there are others too. Usually, when your industry is quite complicated and has lots of specialist terms it can fall into this category. Sometimes, it’s also not a case of whether it falls into it but instead how much of a “specialist industry” it is and this will adjust the rate for transcription services accordingly.
Can I Not Just Use AI Transcription Software?
The problem with AI transcription software is that they are very inaccurate. They’ll often get words completely wrong, or just type out gibberish. From here, you would have to do hours worth of editing or pay a human editor to go through and make edits for you.
Although the turnaround is quicker, usually, this costs more than getting a file transcribed in the first place, as the editor has to try and figure out the words that were used due to low accuracy issues.