I think they are making a much larger profit on the backs of MTs...
Posted By: ExMQ on 2009-05-16
In Reply to: It could all change any day now. My company - me
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).
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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.
cut backs
If they are cutting back, it is most likely because I understand they outsource to India.
Transtech has our backs
Everything's okay at Transtech. I just talked with my supervisor. There's plenty of work for everyone. We'll just shift accounts, that's all. I for one like to learn something new; it breaks the monotony. I'm even going to try my hand at eScription on my new account! Transtech won't let us down. They truly have our backs. 
That they make off the backs of the MT.
Nobody said it wasn't their money to do what they want with, but it shows how much they value their employees and what the priorities are. They might as well say, Hey, we don't think you deserve a raise, cut in your insurance premiums, or a bonus, but we're going on vacation on the money you made us...oh, and by the way, work extra while we're gone.
Then we best be watching our backs
and socialism has really been around longer than we think because I was let go from a job in the year in approximately 1962 because of an abortion. That is right. Worked at a children's hospital that was affliated with a bigger hospital, went to the bigger hospital and was fired from the other. So I guess socialism is nothing new, right?
Fortunately, I haven't had any problems getting call-backs...sm
I have been in contact with 3 companies within the last 6 weeks. I do have 18+ years experience, but just needed to find the right fit. There are good jobs to be gotten so don't give up.
Good luck!
While we pound our brains out until our backs ache and our wrists crack and pop
The trend toward more and more hospitals hiring for work-at-home MTs is helping and if they'd all go that route it would solve the problem.
I don't know why you think that's not much 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.
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
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.
Larger squeeze. .
Since medical care is 24% of our gross domestic product (1.9 trillion)and electronic charts has been made law, a small MTSO could not pay for a VR machine or an $80,000 dictation retrieval system. Smaller is better, but bottom line always speaks. 1000 lines a day is achievable working in one hospital, familiarity, normals. Unfortunately that standard carried over to MTSOs, with MTs transcribing eight accounts at the same time. No money!! Pay for your own computer, $$high-speed internet and/or phone line. Unachievable benefits based on production. What a deal!
What better/larger companies?
I have noticed that all of the better/larger companies that everyone talks about are all going offshore. Spheris is already there and so is MQ. We need to stick together on keeping our MTSOs HOME where they belong!!! If they want to send work offshore, let those MTs from there transcribe their own medical reports!!!!!!!!!
I would imagine all the larger ones do, whether
ss
I keep my font at 100% (not larger), and I also have to
nm
...and Easter. Wonder if any of the larger ones do this? nm
a
Larger companies are doing this...........
I have become very angry when my husband has told me this is happening, as I too believe it is nothing more than age discrimination, BUT on the other hand, there are younger employees who have major medical situations and any company's insurance could be greatly affected by this.
Most of this is practiced by companies who pay high range salaries. I believe they are checking to make sure if they put that kind of money into an employee, that employee will be around for the long haul so to speak and not out sick all the time....
Either way, if all the hooplah about discrimination against handicapped, gender, etc. is out there, why would this even be legal. It obviously is legal but I really don't understand why it hasn't been brought up in an age discrimination case myself. The employer can always just say that candidate didn't fit the bill and it had nothing to do with their health but of course, companies used to say the same thing about race and sex, so who knows!!
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....
There is a new, larger account coming on in Dec. (sm)
I would imagine they are hiring in anticipation of that. Work flows vary anywhere, but these people go out of their way to try and keep us all in work on a steady basis. Benefits good, you are treated well by management, pay on time, accounts pretty good, platform is such that you can actually make money.
Ups and downs are the name of the game, but I would highly suggest you at least talk to them. Hiring on with them was one of the best things I ever did for myself. I will ride the waves of feast and famine gladly with this company.
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!!!!
Opinion: Small company vs. larger one?
Just looking for opinions on the positive side and/or negative side of a small company vs. a larger one. Help me out here....please!
The larger companies are squeezing out the smaller ones, so they
probably do have 3 new hospitals starting. I have been letting my accounts fade out naturally, not renewing them when contracts come due, not replacing people that quit, etc. I am down to 3 of us, and will be looking to work for a national soon. No more headaches, no more worries about keeping hospitals happy, no more worrying about the financial well-being of my employees. I am done kaput. Finished as an MTSO.
Who do you think will still be around? I am looking at Medware, Execuscribe, Keystrokes, SilentType, Cymed and MDI-MD. Any others? Do you think these will be around and survive? I lost two accounts to Keystrokes and one to Silent Type. Neither was cheaper but the hospitals all felt they were bigger so better. What's up with that?
Correction: They owned the other one and built this which one which is much larger. sm
I just read this in one of the magazines and asked my lead if they were moving far. She said it is literally across the parking lot from a small office to a huge building, taking on the whole building. I am thrilled to be part of a growing company instead of the sinking ship I was on!!!
I'd be afraid to jump from a larger company to a
Sometimes these smaller companies seem great, but then the contracts run out and they lose accounts. Also, the smaller companies do not offer as many benefits. Don't feel left out. All of these people going to Keystrokes could be in for a rude awakening and then have to go back to MQ. JMO.
I think you are right. Eliminate cost. Be more competitive. Save profit margin.
x
The requirement is 50% participation. It is actually harder for a larger company sm
than a small company if they are national to get good rates. Once in, they will have it easy after that. I dealt with it personally for another company and it was a nightmare. Insurance is crazy and once national, it is harder to get the insurance. They should have gone with BC/BS when smaller but chose Unicare for some reason. Now they are regretting it.
Most larger companies do not close for holidays, this is a 24 houra day/365 day a year job. (nm)
x
This hospital started in July after WX lost another, larger acct.
Currently, the acct is always out of work. Perhaps they will be sending more work WX's way now.
Ok - here ya go. I went from making $1800 per pay period to making just under $900.
Is that significant enough for you? Believe us, we are not just being negative with a grudge or anything like that. This is real! A month later, I was gone from there fast!
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.
they are making a lot of changes....
This is the first I heard of it also and I found out by logging on and all the sudden have all new work types. When I inquired as to why this happened and was told it was part of the "MQ compliance team" (whatever!). Later on that morning, I received an email stating that the first change made was to rank the MTs by classification: Level 1 - ER/clinic notes, Level 2 - ER, Clinic, Progress notes, H&Ps, DS, Consults, Cardiac notes, PT notes (everything except radiologys and OPs), Level 3 -everything including radiology and OPs.
how much are you making, cpl
what are you making, cpl. ect.
It is b/c OSi is making changes
Positive changes...and that scares the daylights out of everyone else. Yes, they have made a few mistakes, but who hasn't? I am with you here. I never had a single problem with OSi until I came to this board and then I found out just how sucky my job really is. So, why wasn't my job bad before? It is a pitty that I had to come here to find out that OSi employs only the worst. I make a lot of money and I don't leave my home. I have a wonderful AC too and I love the people that I have actually gotten to talk to on a day-to-day basis. What more could I ask for?
I'm currently making more than that, but have been
looking around, testing the waters. I ace the tests, they call 2 and 3 times offering me different things, but never enough money. I have even been offered 7 cpl as an IC. My point was that experience doesn't necessarily count for anything these days as no one wants to pay you for it.
Where are you making $120 a day, can I ask?
That's pretty good.
I will be making 9.5 cpl
They offered me 9.5 cpl right off when I was hired last week for an ER account.
making fun?
saying - Having a laugh - is not making fun - it is a comment - not like are they kidding, could not get a coffee for that etc. They do not belong here.
but I am sure if you are concerned the moderator can give you the information so you can apply.
I was making ...
17.00 a hour.
She's making more
than I am right now at my company and I have 15 years of experience and she has about 8 or 9. From what I have heard, it's at the top of the pay scale for most companies out there and you get paid half of your typing rate for editing which is a lot more than I make editing. All I can say is 15 years in this business, they pay very well and that is why I'm applying for a job with them.
Are you saying you re making 0.075 MORE than before, or
they are giving you that which is more than you made before? 0.075 more a line is hard to believe.
I was making 16/hr when i was QA
x
The ones who are making $125,000
aren't the ones I have a beef with, it's the ones with millions in income and they pay less taxes than someone making $40,000 to $50,000. $125,000 doesn't give anyone enough money to take advantage of the tax hedges and loop holes that go only to the wealthy, especially if they are mortgaged to the hilt.
Please....you'd be making those
wages no matter what. Find a profession that will pay you more and quit blaming those of us who do our job every day without complaint. You all seem to have excuses why you aren't making money. Find another job where you can sit there and work in your bathrobe, chat on the phone whenever, peruse the internet, throw some laundry in when you want, not have to pay for work clothes or gas, not have to deal with lousy weather or traffic and can be home with your children. And yet you still want to make the big bucks and get all the perks. Why not find something else that will pay you what you think you deserve? Yeah, my DH has a good job and pays the bills....sorry if that offends you. I do this job because I love it, not to become rich from it. Be thankful that you have a job during these lean economic times. Don't blame me because you have no ambition, drive, incentive or guts to do something else with your life.
Are you making more than 5 cpl? (nm)
nm
You were only making up to 2 cpl??
My VR pay is 4 cents a line and 8 cents for straight. I do not use Dictaphone there, there are other systems besides just that. I have no drama, monitoring software? Know nothing about that. I love it personally.
She said that making up 2 cpl could be
time consuming. She didn't say she was making up to 2 cpl. lol
I'm not that bad yet but I was making
more than my daughter-in-law who is a nurses' aide and works at the county hospital, but now she's making more than I am, and her health insurance is only $100 a month for a family plus she gets a raise every year.
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