Frugal LivingStarting a BusinessFinding a JobBusinessIndustriesReal EstatePersonal FinanceSelf-EmploymentScams & FraudInsurance

How to Set Your Rates as a Freelance Medical Interpreter

Updated on September 4, 2017
gerimcclym profile image

Geri McClymont has been working as a medical interpreter since 2013 and obtained her certification through NBCMI in July 2015.

Learn to set your rates with confidence and perspective.
Learn to set your rates with confidence and perspective. | Source

If you're a medical interpreter just starting out as an independent contractor, otherwise known as a freelancer, and want to know how to go about setting your rates, read on.

This article will equip you to set your rates with confidence and perspective as you embark on your new career as a freelance medical interpreter.

Decide on Your Rates in Advance

Most freelance medical interpreters are contracted by language agencies. I can't emphasize enough how important it is to have a clear idea of what your rates will be before you sit down to sign a contract with any given agency.

Your rates should take into account many factors, including your experience, training, education, as well as your time and possibly traveling expenses. By not determining your rates in advance, you're setting yourself up for accepting rates you may later regret.

Keep in mind that once you sign a contract with an agency, you're bound to the rates on the contract for the duration of that contract, which is normally a year. Don’t make the mistake of winging it when you set your rates.

Don't make the mistake of winging it when you set your rates.
Don't make the mistake of winging it when you set your rates. | Source

Have you ever agreed to rates you regretted after signing the contract?

See results

Basic Factors to Consider

Take the following factors into account as you set your rates:

  • How much experience you have working as a medical interpreter
  • Your level of education and training
  • Whether or not you are a certified medical interpreter (CMI)
  • Whether or not freelance interpreting is your primary source of income
  • The rates of other freelance medical interpreters with your credentials in your city and state

Specific Factors to Consider

Allow these specific questions to help guide you as you set your rates:

  • How much do you value your time?
  • Will you have a two-hour minimum charge per assignment to help cover travel time and expenses?
  • What days and hours will you be available to work?
  • Will you be available to work evenings, weekends, and holidays? If so, will your rates be higher for these times and days than your rates for your normal working hours?
  • How will you charge for minutes you provide services before and after your contracted time? (For example, when a patient shows up early or the assignment lasts longer than the anticipated end time.)
  • How much prior notice will you require for each assignment? Will you charge extra for assignments you accept with less than 24 hours’ notice?
  • What will your cancellation policy be? Will you request full payment for all assignments cancelled with less than 24 hours’ notice?
  • Will gas and mileage be included in your rates?
  • Which of the factors listed above are negotiable and which aren’t?

Create a Rate Sheet

I strongly recommend creating a rate sheet in the form of a table, outlining your rates on it based on the factors listed above, and updating your rate sheet as needed.

A rate sheet provides you with a solid frame of reference when you negotiate and communicate with potential clients, as well as when you send out your monthly invoices. It helps ensure accuracy, so you're less likely to overcharge your clients or shortchange yourself by charging less than you agreed upon. Utilizing a rate sheet is a great stress-saver!

Sample Rate Sheet: On-Site Medical Interpreting English-Spanish

Service Details
Charge (US Dollars)
 
 
per hour / 2-hour minimum (7am - 5pm)
$45 per hour / $90 minimum
 
 
24-hour cancellation policy
Full amount due if assignment is cancelled with less than 24 hours’ notice
 
 
Assignment received with less than 24 hours’ notice
Additional $25
 
 
Evenings (5 - 9pm), Weekends, and Holidays
Additional 50% per hour
 
 
9pm - 5am (if appointment goes over anticipated end time, such as in the case of surgery complications, etc.)
Additional 100% per hour
 
 
Minutes before or after the contracted time
Prorated
 
 
Gas & Mileage
Additional charge based on current IRS standard mileage rates
 
 

Negotiating Contract Terms

Be prepared to negotiate contract terms with agencies, as this is common and standard practice.

For example, an agency may tell you they won't agree to your two-hour minimum charge per assignment, or that they'll only prorate minutes once you reach five minutes beyond your contracted time per assignment.

On the other hand, the same agency may offer to pay double your usual rate for working evenings, weekends, and holidays. Or they may offer to pay some or all of your traveling expenses.

Anticipate some give and take, as this is part of the negotiating process. As an independent contractor, you decide which elements, if any, you're willing to compromise on. It's also clearly your decision whether or not you ultimately choose to sign a contract with any given agency.

Stand out from your competitors by getting yourself  certified.
Stand out from your competitors by getting yourself certified. | Source

Stand Out from Your Competitors

To some degree, your rates will almost inevitably be influenced by what other freelance medical interpreters are currently charging in your city and state.

Agencies want to make as much profit from their direct clients (medical facilities) as possible, so if your rates are higher than most freelance medical interpreters in your city, you need to give agencies a strong reason to hire you over contractors who charge less. In other words, you need to stand out from your competitors.

How do you do this?

1. Get yourself certified. As a certified medical interpreter (CMI), you demonstrate that you've met a higher standard than most medical interpreters.

2. Conduct yourself with the utmost professionalism. Review everything you learned in your medical interpreter training program. Follow the standards of conduct and code of ethics for medical interpreters to a tee. Unfortunately, failing to follow these is not uncommon among less experienced interpreters.

3. Present yourself as a professional. It's an embarrassment to the profession when interpreters show up for assignments dressed as if they're going to a night club. Invest in professional attire; if you want to be treated like a professional, you need to dress like one.

Be aware that the medical facilities you're sent to by the agencies you're contracted with normally communicate directly with those agencies in regard to your performance. In many cases, agencies ask their direct clients to complete an evaluation form to rate your performance after each assignment. Make this work to your advantage by distinguishing yourself from your competitors!

In the end, you want to sign the contract with confidence.
In the end, you want to sign the contract with confidence. | Source

In the end, you may have to deviate from the rates you initially set for yourself, and that's okay, especially if it ends up working in your favor, such as lowering your rates but getting continual work with an agency. The main thing is to establish a baseline of your rates in advance, taking all factors into consideration, and to decide ahead of time how much you're willing to negotiate.

Remember that when it comes time to sign the contract, you want to do so with confidence.

© 2016 Geri McClymont

Comments

    0 of 8192 characters used
    Post Comment

    • gerimcclym profile image
      Author

      Geri McClymont 22 months ago

      Ron: It seems to be one of those niche professions many people don't know about. I'm glad you found it interesting and thanks for stopping by.

    • RonElFran profile image

      Ronald E Franklin 22 months ago from Mechanicsburg, PA

      I'm never going to be a medical interpreter, but I enjoyed reading this. It's an interesting look at a profession that, frankly, I never before knew was a profession.