I don't know why you think that's not much profit
Posted By: AnnuderMT on 2009-08-08
In Reply to: Then they are not making much of - a profit.
Maybe if you only have one employee that's not much of a gain, but if you take the hundreds of employees that some of these MTSOs have, and take into account that their overhead costs are minimal, they're doing pretty good. Frankly, the 10 cpl jobs are few and far between and most run 8-9, which means the company is potentially making what I make. If I had even 5 people funneling that kind of money to me, I would probably be doing pretty good, or at least better than I am now.
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MTSO profit????
How does the MTSO make any money? If they pay the MT 9 cents, and the QA 5, the would mean charging the client at least 16 to 18 cents per line to just cover overhead and make a VERY small profit. I don't see a lot of docs paying that kind of money for transcription.
fixing issues/profit
Yeah, guess that is why Transcend had a press release that came out yesterday with a 74% increase in revenue from the prior year quarter. Here is an excerpt from that press release. "Most of the revenue increase of $2,779,000 between the second quarters of 2005 and 2004 is attributable to the acquisition of Medical Dictation, Inc (“MDI”) on January 31, 2005. MDI contributed revenue of $2,294,000 to the second quarter of 2005."
Whatever that means -- I think according to their profit for the year . n/m
x
They're not making a profit.
I work at Futurenet. I don't mind paying the 25.00. It's guaranteed by 10:30 a.m. It has only been late once and I was reimbursed the cost. It's worth it to me for the peace of mind.
Why dont you do the work for 6 cpl and keep all the profit for yourself but
I expect you cant do it so you try to hire people for 6 cpl that can do it. I bet you didnt get hundreds of applications this time.
It gave D lots of profit?
That's about the only positive I can think for the scenario.
Sorry, I wish I could be more positive but we've been in a losing battle to get our lines and enough money to live for at least 2 months now, and ALL of our cries for help or an explanation were met with dead silence.
The suspicions were indeed 100% correct, which also confirms that they were reading this board and not with any honesty contest that which was being speculated.
Like I said, yeah, really classy, MDI-MD.
Great way to trash all those years and hard work building up that reputation.
I now rank you right up there with Heartland, the Q, Spheris, and those other MTSOs that outsource their work and pizz all over their MTs on their way up.
Classy, guys, really classy.
Up yours...I'm walking. Best of luck on your new 'venture', and I hope you all sleep well at night on your pillows of fresh greenbacks.
Actually, I kinda hope you suffocate in them.
You file a Schedule SE on your profit income.
and you pay social security and medicare tax . While you have to pay the full amount on the social security tax and medicare you can deduct half that amount to your adjusted gross. I really need to find out more about this because if I have been paying too much on my social security tax I really want to know. Does anyone else know about this? Are there any IC contractors who are not paying social security tax or only paying 7% as you would as an employee and not an independent? Perhaps it has to do with how you set yourself up. Thanks for any info....
I think they are making a much larger profit on the backs of MTs...
Think about it. Do you think it is costing the clients any less for their transcription. How would they even know it was VR? If the MTSO charges the same, they are making more money (half of what they used to pay the MT).
I get 10-12 cents a line from clients so I can only pay 6-71/2 to make any profit.
There are some clinics/hospital that will pay more but they also want you to do a lot more secretary stuff which the management staff does and you do not see. I know some of the huge nationals are raking in the profit and not spreading it around to well deserved transcriptionists but us smaller nationals or local companies are not getting those huge accounts that pay 16-20? cents a line. There is overhead too to pay like your utility bills, dictation equipment and upkeep, long distance phone bills, advertising, paper, printers, ink, faxes, health insurance, etc and then the income for the management team, proofers, and computer techs. I am not trying to take up for the huge companies that rake it in but if you haven't had your own business in the field then you really can't speak about what goes on after you turn in your work because you have no idea. Making comments to ad that can't offer more like me does not help anyone. I find plenty of experience transcriptionists happy with the pay, workload, and TAT. I wish I could offer more but when you are only making 3-4 cents of profit and still have your overhead that is not greedy. Your checks are nearly the same as the transcriptionists. If you don't like the pay find your own account - you do the leg work and don't respond to if it does not interests you as it does to a lot of people.
I wasn't rude. All I said was that if I was trying to profit from recruiting people, I would
have left contact information. I didn't get called out and was never rude. How is stating FACTS rude? I'm also not offended because your logic makes no sense to me. I speak the truth. But it doesn't matter. If we have anything negative or positive to say about ANY company whatsoever, we're either recruiters or disgruntled ex-employees. I didn't get called out because there was nothing to call out on. Please, take your senseless accusations elsewhere. The board administrators know exactly who I am, so they can back me up when I say that I'm not a recruiter. I'm (GASP!) a happy employee FINALLY after ages of searching for the right company!!!!
I think you are right. Eliminate cost. Be more competitive. Save profit margin.
x
Nobody said MT companies were not for profit companies. (sm)....
As MTs we are an important segment of what it takes for the company to thrive, but we are still just part of the whole structure.
Not trying to be argumentative, just think sometimes we get that "I'm the quarterback" attitude and forget that we can't get anywhere without our line men.
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