Sorry, part of post is out of context :(
Posted By: had to say it on 2009-09-24
In Reply to: CONGRATULATIONS MTSO MANAGEMENT! - had to say it
Not crazy about this platform.
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I believe you took what the MT said out of context sm
the MT was being sarcastic. So there was no theory to it wonder why you work for MQ . comprehension issues
Question is out of context
Where you live really matters. An MT in NYC or California needs/makes way more than an MT in Arkansas or Alabama, for example.
You take my words out of context, don’t you?
I was trying to explain how businesses work. I sucked it up, said nothing about her doing this and yes, you have to develop a hard shell, if you don’t say like the OP, then you wind up without a job in hard times with a family to support and possibly not getting unemployment because she quit. That is business and these are not new attitudes. My mother died in 1990 and like I said, I had to find my own replacement at that time IF I wanted probably to keep my job. I had a family to support and could probably had just left, walked off the job and then what? Poverty city. No one owes us anything. We are not queens out in this world. We are the workers and companies could for the most part care less about us as a person and our families. If you are close to retirement, you should have learned this by now.
The sad part is that I did not post my resume
wa
This part of your post struck me as odd
~~~ I have been subject to some horrifying systems where the companies actually expect you to achieve your line counts or keep them hidden.~~~~
Okay, I understand how an MTSO can hide line counts. I worked in an office and saw how they did it.
BUT, ~~I have been subject to some horrifying systems where the companies actually expect you to achieve your line counts~~~~ So you are saying TH has a horrifying system and does not expect you to achieve your line count? That's an odd statement. Care to expound on it? 
Very puzzling information.
TRANSCEND - PART 3 - did not fit on 2nd post
The Company may not be able to recruit and hire a sufficient number of new or replacement medical language specialists to sustain or grow the current level of revenue.
The Company cannot provide transcription services to customers within contracted delivery standards without an adequate supply of qualified medical language specialists. Medical language specialists are in short supply. The Company relies upon in-house recruiters to hire a sufficient number of qualified medical language specialists to meet current and projected needs. The Company attempts to attract and retain medical language specialists by offering competitive pay and benefits and the opportunity to work from home utilizing the Company’s Internet-based system. The Company is transitioning a significant portion of the business from transcribing (typing) to editing, which allows the Company to increase the productivity of existing personnel and attract a new supply of medical language specialists. Nonetheless, there can be no assurance that the Company will be able to hire and retain a sufficient number of medical language specialists to meet demand. Failure to do so could have a material adverse effect on the ability to undertake additional business or to complete projects in a timely manner, which could adversely affect operating results and financial condition.
The Company’s reliance on key third-party software could affect the ability to operate competitively.
Portions of the BeyondTXT technology were provided to us by Multimodal Technologies, Inc. under an agreement originally entered into on September 28, 2004. The original agreement was replaced by a new agreement, commencing September 1, 2006, that provides for a one-year, non-exclusive license that is renewable for up to four successive one-year periods at the Company’s option (the last such option period ending August 31,2011 and additional successive one-year periods if mutually agreed to by both parties. The inability to maintain the relationship with Multimodal Technologies, Inc. or find a suitable replacement for the technology at favorable prices or at all would adversely affect the ability to operate competitively and to meet the workload demands of the existing customer base.
Transcend’s operations depend on access to reliable voice and data networks and dictation capture systems. Any failure of more than one of these networks or systems, even for a short time, could harm the business.
The majority of the Company’s customers depend on the BeyondTXT platform, data networks and dictation capture systems being able to process voice and data files 24 hours per day, seven days per week. If voice and data networks or dictation capture systems are unavailable, the ability to transcribe documents for customers is severely limited. The Company is heavily dependent on third parties such as telecommunications providers and dictation system vendors. Although there is redundancy across these providers and systems, any failure of more than one of these networks or systems, even for a short time, could delay the ability to provide transcription services to customers. Because the timely delivery of transcription services is vital to customers, any such delay could harm the business.
The Company operates in a highly competitive market and can make no assurance that it will be able to compete successfully against current or future competitors.
The medical transcription services market is highly fragmented and competitive, with several thousand local, regional and national companies competing in the United States alone. In addition, the medical transcription industry in the United States has experienced competition from overseas competitors. While the Company attempts to compete on the basis of fast, predictable turnaround times and consistently high accuracy and document quality, there can be no assurance that the Company will be able to compete effectively, if at all, against competitors. These competitive forces could result in loss of market share, lower margins and/or increased technology investments.
The Company operates in an environment with competitive pricing pressure and can make no assurance that it will be able to compete successfully against current or future competitors on the basis of price.
Some competitors have lower cost structures than the Company does, particularly if they are small firms or operate primarily offshore. Other competitors may be willing to accept less profitable business in order to grow revenue. It is common for competitors to offer lower prices than Transcend’s. The Company attempts to position itself in the industry as a high quality provider at a mid-level price point. Accordingly, the Company may lose business on the basis of price or be forced to lower prices to win new business. There can be no assurance that the Company will be able to compete effectively, if at all, against competitors on the basis of price. Competitive pricing pressure could result in loss of market share and lower margins.
The use of offshore medical dictation subcontracting firms exposes the Company to operational and financial risks not inherent in the United States.
As of December 31, 2008, approximately 19% of the Company’s transcription volume was subcontracted to offshore providers. As the Company increases reliance on these offshore providers, there will be increasing exposure to operational and financial risks not inherent in its United States operations. These risks include political, economic and social instability, unexpected changes in the regulatory environment, currency fluctuations (although our contracts are in U.S. dollars) and the possibility that offshore providers will be acquired by a competitor and discontinue their relationship with the Company.
REVENUE
Year Ended December 31, 2008 Compared to Year Ended December 31, 2007
Revenue increased $6.2 million, or 15%, to $48.7 million in 2008, compared to revenue of $42.5 million in 2007. The $6.2 million increase in revenue consisted of increased revenue from existing customers of $4.8 million, revenue from new customers of $3.0 million, partially offset by decreases in revenue of $1.6 million from customers who cancelled their contracts in 2008.
Direct costs increased $2.1 million, or 7%, to $30.9 million in 2008, compared to $28.8 million in 2007. Direct costs include costs attributable to compensation for transcriptionists, recruiting, management, customer service, technical support for operations, fees paid for speech recognition processing, telephone expenses and implementation of transcription services. Transcription compensation is a variable cost based on lines transcribed or edited multiplied by specified per-line pay rates that vary by individual as well as type of work. Speech recognition processing is a variable cost based on the minutes of dictation processed. All other direct costs referred to above are semi-variable production infrastructure costs that periodically change in anticipation of or in response to the overall level of production activity.
As a percentage of revenue, direct costs decreased to 63% in 2008 from 68% in 2007. The decrease in costs as a percentage of revenue is due primarily to cost savings that resulted from an increase in the use of the Company’s speech recognition-enabled BeyondTXT platform, growth of semi-variable direct costs of operations at a slower rate than the rate of revenue growth and the use of increased offshore transcription resources. Approximately 19% of the Company’s transcription work was performed offshore during 2008, compared to 14% during 2007. During 2008, approximately 30% of the Company’s volume was edited using speech recognition technology on the BeyondTXT platform, compared to 24% during 2007. Gross profit increased $4.1 million, or 31%, to $17.8 million in 2008, compared to $13.7 million in 2007. Gross profit as a percentage of revenue increased to 37% in 2008 compared to 32% in 2007.
DCOA Promissory Note
On April 6, 2005, the Company fulfilled the prerequisites for receiving the proceeds under a Promissory Note dated March 1, 2005 payable to the Development Corporation of Abilene, Inc. (“DCOA”) in the principal amount of $1.0 million (the “Promissory Note”). Transcend received $850,000 under the Promissory Note on April 7, 2005 and was pre-funded $150,000 under the Promissory Note on March 31, 2005. The Promissory Note was initially secured by a $150,000 letter of credit from a bank and certain furniture and equipment. The letter of credit was released December 7, 2005 and the remaining collateral shall be released as the principal balance of the Promissory Note is reduced.
The Promissory Note relates to the Agreement for Financial Assistance by and between DCOA and Transcend effective as of March 1, 2005 that was approved by DCOA on March 4, 2005 and amended on June 6, 2006 (collectively, the “Agreement”). Under the terms of the Agreement, DCOA agreed to provide up to $2 million of interest-free, secured loans to Transcend (the “Loans”). In return, Transcend agreed to recruit, hire and train up to 208 medical transcription professionals, the majority of whom shall be recruited from Abilene or the area surrounding Abilene, as defined in the Agreement. DCOA offered the Loans to Transcend in two increments of $1 million each in return for Transcend recruiting, hiring and training up to 104 medical transcription professionals for each Loan. The Promissory Note is the first such Loan. During 2007, the Company was informed by the DCOA that the second $1 million loan is no longer available.
Transcend and DCOA intend for the Promissory Note to be paid by Transcend using quarterly training credits and annual job creation/retention incentive credits provided to Transcend by DCOA as defined in the Agreement. Principal reductions of the Promissory Note were effected through quarterly training credits and annual earned job creation incentive credits, not cash, as follows: (1) $25,000 per month for the first six months of the Agreement provided that 15 employees were hired by Transcend during that period; (2) a quarterly training credit equal to 50% of the total wages paid to newly hired Medical Language Specialists (“MLS”) during their probationary period (not to exceed $4,000 per MLS); and (3) an annual job creation incentive credit of between 10% and 12% of compensation for the year for each full time equivalent employee (FTE), with cumulative per FTE credits capped at 30% to 35% of the FTE’s annual compensation (depending on the FTE’s compensation band) for FTEs hired on or before March 31, 2010 including compensation paid through March 31, 2012.
Transcend had earned credits of $23,000, $77,000, and $99,000 for the years ended December 31, 2008, 2007 and 2006. These credits are reported as reductions of direct operating costs. On December 1, 2008,
Transcend entered into a new agreement with the DCOA whereby the DCOA reduced the loan principal by $101,000 in exchange for agreement by Transcend to retire the debt three years earlier than agreed and the cancellation of potential future credits earned through training and job creation. This reduction was booked to direct costs as were previous job credits earned. Transcend will pay DCOA six quarterly payments of $92,000 commencing January 1, 2009 with the final payment due April 1, 2010 to satisfy the remaining principal amount. The note will continue to carry a zero interest rate. The principal balance on the Promissory Note is $550,000 at December 31, 2008.
RETIREMENT PLAN
The Company maintains a 401(k) retirement plan that covers all eligible employees. Employees are eligible to contribute amounts to the plan subject to certain minimum and maximum limitations. The Company matches employee contributions on a discretionary basis as determined by the Company’s Board of Directors. The Company made $156,000 and $134,000 of matching cash contributions in 2008 and 2007, respectively, and no matching contributions in 2006.
Going forward, the Company intends to continue matching 50% of the first 4% of employee’s compensation contributed to the plan, subject to the financial performance of the Company.
MAJOR CUSTOMERS
Revenue attributable to one contract with Providence Health System—Washington for four hospitals totaled $3,728,000 $3,269,000 and $3,017,000 or 7.7 %, 7.7% and 9.2% of total revenue for 2008, 2007 and 2006, respectively. In addition, the Company had revenue under separate agreements with approximately 44 customers who are owned by Health Management Associates, Inc., a single healthcare enterprise. Revenue attributable to Health Management Associates, Inc. comprised $10,267,000 or 21.1%, $9,611,000 or 22.7%, and $8,473,000 or 25.9% of the Company’s total revenue for 2008, 2007 and 2006 respectively.
On January 1, 2009, the Company purchased certain assets of DeVenture Global Partners, Inc. and acquired approximately 30 customers with this transaction.
Within the context of this forum firestorm
Especially since the posts have been running pretty much 98 to 2 in favor of her viewpoint. You must have been following the thread with blinders on to have missed the tenor of the posts she was responding to. It's that garbage in/garbage out phenomenon that is pretty much status quo on anonymous forums such as this.
BTW, without spending another 45 minutes or so reading through all the muck, it is next to impossible to determine which question you are referring to that you think she is answering since she is the one who started this current thread. Pardon me for pointing out that relegating someone to the bottom ofthe heap of humanity does not exactly qualify as civil discourse and can easily be construed as talking down. Never say never.
Market forces that exert downward trends in cpl rates (subcontractors) have a tendency to make MTs scream and complain regardless of how long they have been transcribing, and with good reason. We already have taken a 20% hit since 2005. There is not a whole lot of wiggle room left at the bottom of that barrel. If we go any lower, we won't even be making the same cpl rate that they get in India.
You made some good points in the remainder of your post, most of which I agree with. Everything you said is more than familiar to me as I too have been transcribing since 1974. Though most of what you said is right on (need to be broad based, MTing can't be learned in school, in-house vs working at home and the whole 9 yards), unfortunately it is highly unlikely that any of those good ideas will ever come to pass. Those days are long gone.
Subcontractors such as TTD would have ICs (new or seasoned) making LESS than FT employees. Because of their lack of benefits, wasn't it just a few years back that ICs made MORE than FT status? That train is going in the wrong direction.
BTW, those prima donnas and all that screaming and complaining? That IS the new reality of MT. That's why I do not see how x has said anything here that is more objectionable than, say, MT for example.
Part of your post is exactly what disillusioned mentioned.
Your post said : My question is this, however, what if high producers are treated differently than others? They are kind of like the employee who is always at work, on time, positive attitude versus the employee who calls off, is undependable, bad attitude. Which one do you think would get better treatment? That is pretty much a no brainer if you ask me! There are also those MTs who are great employees and do the basic line count required of them. They receive the basic pay that they were offered. What is so wrong with that? That is the effort they put into it. That is not always true. I can tell you countless times that I went above and beyond what was required of me, and I had always, repeat always, found Transcend a good place to work. Until recently when I started noticing little discrepancies with what I had been told and read from management and what had happened in actuality. That doesn't mean that I am just going to up and quit, but it certainly does put a little bit of distrust into the equation, making it hard to believe other things that I'm told. It doesn't mean I'm undependable, not at work, or have a bad attitude even after I had been told one thing by management and seen another. But you also must admit that it is a little hard to express dissatisfaction internally within the company when it had been noted that a lot of concerns expressed internally were labeled as "emotional outbursts". How can one not become dissatisfied when our concerns are just dismissed as emotionality? (Just a side piece of information, I was not one of the MLSs accused of the emotional outbursts, but I just found it intimidating from a standpoint of expressing concerns in the future.)
You said: I scored 100% on all my tests for hire with Transcend. I have 9 years' experience in clinic transcription. I was hired in full time, benefits, etc. I work on a clinic account and have a secondary that is hospital. No, I did not have hospital experience when starting at Transcend. Being the great company that they are, they were willing to train me and enhance my experience for both our benefits. I make 0.0850 cents per line. I have a schedule, however, do not always work my hours but different ones according to what is going on in my life. I dont ask if that is okay, I just do it. If I cannot work in the morning, I do it at night. No one has ever said anything to me about it because I do my lines. According to what I was told when I tested there years ago, I received the same test score, came in with 10 years experience in acute care and have more than 5 different accounts now ALL acute care, including some of the most difficult accounts. Yet after years of working with Transcend I still do not make what you do. As far as not working your regular schedule but just fitting it in according to what is going on in your life, how is that dependable? Our work group has been instructed not do to this not only by our A.M., but also by Larry because then you are stealing lines from people who are scheduled to work the ones you fit in around your lifestyle and it makes it harder for production to know how to schedule coverage. Yet, you say no one has ever said anything to you about it. This is exactly what was meant by preferential treatment.
This is why I don't totally agree with your post. I am not so unhappy that I am going to quit, but yet it really isn't fair to totally dismiss concerns of people like me just because you are having a different experience with the company than others.
I understand!! Really, it doesn't change the meaning or context and
it is not a medical error, so why are they wasting their time on such trivial things. I call it trivial, because in my opinion, it is.
QA is for editing and correcting gross medical errors and errors that truly change the meaning and context of the document. Some QA folks are ridiculous and feel the need to be important.
I have always ignored those types of corrections. Now, if I made a big boo-boo, I would pay attention to the feedback.
Geez, that was a sloppy, error-ridden post on my part. Yikes, sorry...nm
,
Talk about taking everything out of context good lord and you're calling yourself a prof???
x
OH - I thought part transcription, part escription, but don't know for sure
nm
They no longer hire part-time and may be eliminating part-time employees within the next 6 months.
They are going to have those that are PT go FT if possible. Some accounts require 1 weekend day, but not all. Most transcriptionists have 1 account with 1 back-up account. I know that they are hiring for hospital accounts in medical records and radiology right now.
No PTO for part-time. Not sure if you can work part-time or not since recent rule change. sm
You do pay a deposit for their equipment.
There is a part-time and a flexible part-time, just left there and they offered
me both. Flexible, however, is more or less when they need you (I.e. weekends), part-time is fixed hours.
My post should say the post above not the post below, Sheryl's post to be specific. nm
nm
Yes I know they hire part time because I referred someone there for part time.
They are internet based.
From what I understand, the part-time positions will be only be for those that are already part-time
It is not a restructuring of the company, just of some of the existing part-time positions.
I know that there are a few employees who have been with Keystrokes for many, many years who are part-time and they will not displaced.
Other than that, there have been many discussions why there will not be any new part-time employees hired, and I really don't think they will back down on that.
If you see a post that needs deletion, please post the link on the Monitor board and we'll
review it. This way, requests for post deletions won't appear in the newsletter.
Thanks,
Administrator
MTStars
It's a "fishing" post. Same post a few days ago with numerous errors
ROFL
You are not allowed to post their link on this site. Post
will be removed. It was up last night and post got removed.
Read Spherson's post below, who admits, in the post, they do pay it.
zzzzz
Peachy, your post is interesting, but my post now is irrelevent but
A few weeks ago I went to my clinic where they had recently implemented EHR or EMR, whichever you call it, and the doctor's back was to me the whole time he and I conversed because his nose was stuck in his laptop. To me, it felt a little more impersonal, but I understand he was doing what he had to do, but it seems like the bedside manner may go to the wayside if the doctors can't even look at you when they are asking you questions or you are speaking to him/her. I know this is relevant to your original post, but just an interesting fact that I had not anticipated. Anyone else experience this?
This is why I NEVER post my cpl. I'll post the range of
what the company pays, but NEVER what I make. I know that I make more than probably 70% of the people there, because they know I produce a client ready report and that I can do anything they throw at me. We don't have levels, but I guess if we did I'd be at the highest level. Telling how much you make isn't so bad, but when people know what company you work for and then what you make that isn't a good combination. The ONLY people I have ever discussed what I make with, are my husband and my MTSO owner. Talking about your salary/pay is enough to get your fired in lots of companies.
Post edited -- DO NOT POST NAMES. (SM)
If you continue to post names, e-mail addresses, or phone numbers on this website, you will be banned.
Your own post verifies other post about MTSO not
x
This post is in regard to the post w/ the heading below
.
Nothing is closed. Anyone free to post or not post.
x
One post was another "run" type of post and the
the recruiter. Once you are in with the company, the recruiter has nothing to do with you or your job. I want specifics about problems with THE JOB, not the recruiter. Specifics such as no or late checks, line counts being messed up, no work, taking bennies away with no explanation. Things that matter, not the recruiter.
Okay, I get that part but... sm
aren't our IP addresses available only to the board administrators?
Or was the OP trying to say that the board administrators have a vested interest in this particular company... and keeping this particular company's name clean??? (If that's the case, I won't act surprised when my post is deleted... but I'm new here and I honestly have no idea who has loyalty to a particular MTSO, or not...)
This is part of the UAW
I am not sure this is a good bet for MTs. There are some benefits but I do not see that you get the full tilt of auto worker benefits .. not by a long shot. Keep in mind too that many employers of MTs .. most particularly hospitals go bonkers over the mere whisper of the word union. The other thought that strikes me is that the auto workers are in more dire straits than we are .. so how good is this union thing after all?
well, part of their ad says they pay
9-11 cpl, so some MTs ARE getting the 11 cpl and it has to be for a good reason (i.e., high producer, dependable, versatile, longevity, etc.).
it's probably this part of it...sm
necessary decision in order for them to move forward and achieve their new goals for 2008
What the hey? What do you mean I was a part of it? sm
It's not much of a secret where I work now (TransTech).
this part got me....
For those who have had a bad experience, I suggest giving it another try.
Aiya!!
For the most part
I used to work for them. Communication was kind of lacking, but I have seen worse. The work was relatively easy, and the pay was average, and I always got paid on time
Looking for part-time
I am looking for a part-time or IC (part-time hours) transcription position with flexible hours. If anyone can direct me to specific companies who may consider this, I would really appreciate your help.
looking for part time
Webmedx used to hire part time and they are looking for people. Also look up Amphion on the web. they are in Wisconsin.They have hired part time in the past, may still be looking - nice people, steady company.
See, that's part of the problem.
I'm not saying "all negative posts are bad." The ones giving specific details can be VERY helpful.
It's just that usually no one comes here just to say "I love Company Name" (or if they do they get flamed). OTOH, people do come here to post "I HATE COMPANY NAME" - sometimes giving reasons and sometimes not.
In addition, when opinions are requested on a particular company, the negative posts saying "It sux. NoMessage" outweigh any positive posts 3:1 - and again, positive posts are frequently flamed.
Bottom line - I think the overall viewpoint here is slightly skewed towards the negative.
Not crazy on their part
money, money, money. What I think is crazy is MTs putting up with it. Life is too short to sit at the keyboard 24/7 trying to get enough work to pay the light bill.
Yes it is crazy on their part
What happens when you put a bunch of people on an account they don't know and could care less about and can't make money on? The account is soon lost. Seems to me the company is cutting its own throat doing business this way. Any bonuses the managers make better be wisely invested for when they are out on their butts because there aren't any accounts left.
Now that part about ESL is very true. However, I
have never worked for a company that did not have a lot of ESL. It is just part of the job. Honestly now, for MTs that cannot learn them, then they should not be in this business. More and more of our physicians are ESL and we must learn to deal with it. As far as the emails for today, I have received 3 thus far. None were remotely rude or anything. As far as grammar/spell check in the emails, that does not bother me. As long as they get their point across, it is fine. They are just quick notes, just like anyone would write at an office and honestly, I would hate to know someone had to read my handwriting. 
Oh sure, I'm the CEO and I own a bank, and part of the
London Bridge, and all that good stuff. SHEESH! You all ask for some good things about the company, but through your crystal ball you see the future. I still say, go ahead and leave...you'll find out soon enough that all is not well with other companies. I know - I've BTDT. EVERY company has editing positions now - it's the next phase of transcription, but never ever will ALL transcription be done by this method. I will continue to transcribe with a POSITIVE attitude, while you and your "Current Transcender" buddy leave and live with a NEGATIVE attitude. Good luck to you!
What part of the above message did you
x
Anyone taken the transcription part of NTS
National Transcription Services test? This is one of those mttest.com things so probably isn't representative of their dictation, but good grief.
The worst part is...
I've been there a long time, took their crap, worked extra when asked, always had quality above 98.5, always made my line count, worked the last 2 months straight because they were behind, now there is hardly any work, worked all the major holidays for the last 2 years and this is how they repay that kind of loyalty. It makes me sad and I feel like a fool for being used for so long. All I want to do is type and do a good job. It won't be rewarded there unfortunately. I'm worried about going from the frying pan to the fire but it can't get worse than the above can it?
can any part-timers tell me...
If you have requested time off without pay in the past and if it was at all a problem?
Part time
Another point is when the hospitals outsource and MTs lose their jobs, this is another area where the MT loses! When we were outsourced a year ago, the hospital tried to really pat themselves on the back and, instead of just being honest and saying it was all about money, they tried to say they made their outsourcing choice based on how important it was that we get comparable benefits to what we had. Yeah right! In this area any part-time hospital employee gets PTO and even more importantly they are able to participate in insurance at a higher rate, but still a great deal compared to buying it privately. I always felt the benefits were the trade off for the so, so salary with the 3% cap on raises over the years.
Yes. I'm part-time, and I was able to
pick my shift. No nights or weekends unless requested, no C-phone, very rare downtime. Most importantly, the staff is available for questions, but otherwise leaves you alone to work. I have no ESLs in the account I'm on. No place is perfect, but they're definitely worth considering.
Part time
Part time is 3000 lines a wk, 6000 in a 2-wk pay period, minimum of 20 hours. I've not had problems being flexible but you do commit to set hours. Have had some sparce times lately but so has my other account elsewhere. I do agree you do not always get all your questions answered. They are worth a try. I've had my issues but will stick around for now.
part time
DSG hires part-time.
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