Medical transcription and editing side hustle

Transcription companies and healthcare documentation firms that pass work on to independent contractors.

Paid per audio minute, per line or per hour of editing. Income depends on your speed and accuracy and on how much work the company sends you.

• Accurate typing and editing
• Medical terminology
• Meeting deadlines
• Following client style guides

• Contractor pay rates can be low, so work out your effective hourly earnings before committing
• Work volume can be uneven, and some companies use automated tools that reduce typing work
• Confidentiality agreements and health privacy rules, which differ by province
• Check whether you need to register as self-employed and collect GST/HST once your revenue passes the threshold
• Check whether your municipality requires a home-based business licence

Startup costs are estimated at typically around $500 to $2,500, depending on the computer, headset and software you already own and what you need to buy. Treat this as an estimate and check what equipment your contracting company requires.

Monthly revenue is estimated at typically around $400 to $2,000, depending on contractor pay rates, how much work companies send you and your speed. Work out your effective hourly earnings first, since rates can be low and volume uneven.

Check confidentiality agreements and health privacy rules, which differ by province. Also check whether you need to register as self-employed and collect GST/HST once revenue passes the threshold, and whether your municipality requires a home-based business licence.