Easy to Use Transcription Cost & Rate Calculator (With Estimates)
Audio & video transcription costs depend on a number of factors. Unless you are aware of them, settling on a decent rate with a transcription service can be a strenuous experience.
Transcription costs can increase depending on speed, quality, complexity, level of the audio, human vs. machine transcription, and more factors. So what’s the best way to know what you’re paying and what you’re getting? Let’s find out!
How to calculate transcription costs
In order for you to figure the best transcriptions costs, you need to know the factors that determine the cost and the pricing structure. For example,
What are transcription cost factors?
There are various aspects to consider when figuring out transcription costs. When you know the ongoing rates and the pricing structures it becomes easy to calculate your transcription costs. Let’s take a look:
- Audio Quality – Recorded audio with distortion, background noise, unclear speech are difficult to transcribe. Lower the quality higher are the rates.
- Accent – Sometimes accents are the cause of slower transcriptions because they can be hard to understand.
- Number of speakers – Too many voices on the audio increases the workload of transcriptionists
- Added Requests – Transcription that needs timestamps, special formatting, or verbatim transcriptions also add to the work.
- Rush Turnaround Time – Time is money. For urgent transcriptions, the price rises.
- Human vs. Machine Generated – Machine generated transcripts are lower in price, but also lower in accuracy. Human transcriptionists can transcribe with 99% accuracy, but cost a little more.
Luckily Rev does not charge for more difficult audio quality, accents, or number of speakers. Several other transcription services charge extra for these.
Transcription rates are sometimes higher when it comes to medical, business, technical, legal, or academic transcriptions. But this is not the case with Rev, our 99% accurate professional services start at $1.50 per minute for all orders.
Transcription Pricing Factors
What are you exactly being charged for and how? There are a variety of ways transcription companies charge customers for audio or video transcripts.
Per Audio Minute – As mentioned earlier, there are fixed standard rates for professional transcriptions and machine transcriptionists.
Work done on an hourly basis – This includes the transcriptions delivered in under an hour regardless of audio quality. Transcriptionists can hold fixed rates for such services.
If the accuracy of the transcription doesn’t hold too much importance for you, you can always opt for automated transcriptions. These transcriptions are done using automation software.
And we at Rev just happen to offer our very own automated transcription services at the rate of $0.25 per audio minute. These transcriptions might be less accurate but they are extremely affordable. Rev’s human transcription service is perfect for those who want extremely accurate transcripts and are willing to pay a little more.
Now that you know the pricing structure, it’s important for you to analyze the prices you’re being offered. You would need to pay your transcriptionist for the amount of work you’d expect from the.
Determine the length of your audio, the audio quality, number of documents, the number of words and pages, your required turnaround time. Or you could just reach out to a trustworthy, professional transcription agency that will do all of your pricing work for you.
For instance, professional transcription services like ours deliver high-quality work, with customer-friendly support and just the right prices suitable for all your transcriptions.
The best part with us is you get to use our transcription pricing calculator which makes all these complicated calculations way too easy. Just enter the length of your audio and you get to immediately see the turnaround time and cost for a professional transcription service.
This gives you an instant estimate for your transcription. You can specify the needed turnaround time and add requests as well. Moreover, no extra charges for:
- Multiple speakers
- Difficult audio
- Specialized terminology
All your complex pricing work is already taken care of. You get the best rates, high-quality, professional transcriptions, and rush turnaround time suiting your needs. The best way to calculate your transcription cost!