MedQuist Financial Statment

• Spheris Financial Statement...sm - TechSupport
  • MedQuist Financial Statment - sm
    • MQ's huge losses - fatcat
  • Yes, I read it. Any idea what's up? - Nell DeFont
    • Looks like some "creative accounting" - sm
      • I'll say! Wrote off $82 million as "goodwill impairment" - charge!!?? NM
      • So how long does it have? - Flo Nightengale
        • It has until - fatcat

The messages you are viewing are archived/old.
To view latest messages and participate in discussions, select the boards given in left menu

Even if you took away the financial pressure - we have high QA standards to meet.  People's lives, and our jobs, are at stake with every report we type - the buck stops here and we are expected to clean up after careless dictators, fix messy demos, all kinds of things where other people drop the ball!

Other professions have days when you can goof off, situations when its not a big deal when you make mistakes, or you don't get much done because you're juggling work and personal drama, etc.  You can go there hungover or emotionally stressed and occasionally just coast through your day.  Not here.  You're expected to consistently produce perfection as fast as you humanly can, or out you go!

So when I tell people I MUST have enough sleep to keep my wits sharp, I MUST have a serene state of mind to work in, they MUST save their drama and demands until after my shift, I'm not kidding - my job demands it!  But they'll never get it until they actually do my job.

etc., shouldn't be offshored either, since there would also probably be little legal recourse if something happened with any of that. 

Regarding what could happen with your medical info, there was an incident with a Pakistani Transcriptionist that illustrates what could *possibly* occur as far as that goes (see link below):

Moderator: This might belong on the Company Board. 

I had occasion to look at the 10-K form that Spheris files with the government and noticed that the company has reported net losses every year since 2004, starting with $3 million that year and accelerating to $19+ million in 2008 for a total of $57 million.  In other words, it would appear that the company wouldn't have paid any US federal income taxes since it was formed. 

At the same time, the company employs 4500 transcriptionists, of whom 2000 are in India.  Last I heard, transcription companies in India receive very favorable financing and tax treatment from that government. 

At the moment I'm not exactly sure how or why, but it's interesting to consider these two facts together.   You can read the 10-K yourself at the link below.

That small overflow account acquired has not paid yet, and the HUGE hospital they lost is no longer paying them.

I really think TT is in lots of trouble right now money-wise.  Keeps changing payroll companies due to *floating* and not having the money for the payroll company, is my thoughts.

We had the best payroll company in the world -- but TT all of a sudden changed . . . and I mean ALL OF A SUDDEN, so much so that all our payroll information was WRONG, etc.  Horrible time with this new payroll company, but it was a FAST decision made on TT's part.  Probably had no choice except to change payroll companies.

TT is not stable as far as financial backup.  Just imagine after losing a HUGE hospital account how much less money was coming in this week and prior.  Those little overflow accounts just don't bring in a lot of monies.  Dictaphone controls how much money TT gets -- due to Dictaphone owning the platform and dividing up the work between Dictaphone's customers ! 

 times for TT now.

Link is also below.

I did not like MedQuist's platform at all.  All of the info required to be filled in was ridiculous (wouldn't have been so bad if they paid for the keystrokes).  Also, I was switched between 4 different accounts during the first week.  I was told during the interview that I would have one main account and a backup account. 

Another complaint I have is that whenever I called the office, my calls were not returned.  I had to just keep calling until the manager was available.  I just did not have a very good first impression of them.  Luckily, my previous employer took me back. 

I would recommend anyone switching companies to try the new company out before turning in your notice.  Sometimes you don't know how good you have it until you almost lose it.

I think it's only fair to say, though, that if I would have had a stable account and had a chance to get used to the doctor names, local cities, clinics, etc., I may have had an entirely different impression of MedQuist.  Don't put too much weight into one transcriptionist's impression of a company.  They may have 'easy' accounts.

I also have noticed that sometimes, the less qualified you are, the easier work you get, the more money you make.

Anybody who works for Medquist, I am wondering what they pay? 

0.850..I work at Midwest office..but we're supposed to be starting that scale pay thing in October which I know nothing about yet

Any info on working for MQ now?  How about its QA department? 

I love working for Medquist.  I think they are probably one of the better companies, if not the best.  I have worked for other companies part-time along with Medquist.  The other companies just didn't measure up to Medquist, in my opinion.  I thought about leaving after 01/01 because of the changes.  I stuck it out and things have gotten a lot better.

Some people love it.  Some people hate it.  The best thing is to compare other companies and pick what is best for you.

All I can say is watch your step.  I work for Medquist and I can tell you they are leaving in huge masses.  If you want no communication with anyone, no communication with QA and no communication with your managers then the Q is for you.  You cannot get any kind of line count because you have no primary or secondary accounts anymore it is just one giant pool of whatever comes down the pike.  You spend so much time reading the standards for that account, trying to find doctors in that area, trying to find places that they dictate and then try to understand the doctor you can kiss your production good bye.  If you make more than 2 major errors on your reports then your bonus is bye bye too.  Your bonus is almost impossible now because it is quarterly and you have to have perfect QA and you are constantly on a different account.  There is no way you can make any money at all.  They set this up this way and a lot of people like me are in tears as to why?  I would really, really think before I went to MedQuist.  If you being broke, being alone with no help and no communication, lots of change of accounts no two docs the same no two facilities the same and having to meet a production that is impossible to meet now then go for it.  I am sure there are a lot of jobs now.  A lot of folks have jumped ship.  I am still on it and hoping it changes but in the mean time I am going broke.  I will get called on the carpet soon because I have not met my production.  I just hope you like this sinking boat and I will make room for you.  We can go down together. 

I can't post on their board, and yes I've read what's up lately.

I just wanted to know if any current employees who are fairly happy could reply to answer a few questions.

Can you use your own computer?

Do they offer part-time in that you can work just certain days of the week?  This would include one weekend day. 

Hi, everyone,

I'm curious about Medquist.  I just sent them a resume and wondered how it is to work for them.  Feel free to e-mail me privately if you'd rather not discuss things at the board.  I have heard lots of things about MQ, both good and bad, but I want to know the good, the bad, and the ugly from anyone out there who knows! Thanks!

Dee