and I'm saying get facts before jumping, so what?
Posted By: mt on 2008-03-20
In Reply to: I posted after she quits giving her time to a non- - payer;THEN she can go after her money. nm
slow down, be smart, line something up in case and research the issue.
crap happends sometimes, sometimes not. make and educated decision.
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and I'm saying get facts before jumping, so what?
slow down, be smart, line something up in case and research the issue. Things happends sometimes, sometimes not. make and educated decision. That is what I would do. you would up and quit. No problem.
Transcend-The FACTS and only the FACTS
This comes straight from the SEC filing for year ending December 31, 2008, submitted March 11, 2009. Yes, it is public information and anyone can look at it. Keep in mind, all the narrative is from Transcend’s point of view and they are trying to keep and/or get people to buy their stock. So you will have to read between the lines as far as if they will/can meet the needs/wishes of their MTs/Medical Language Specialists in the years to come, or if they will turn into another company too large to keep their employees happy.
Regarding the MDI-MD acquisition:
TRANSCEND SERVICES, INC. (NASDAQ: TRCR), the third largest provider of medical transcription services to the U.S. healthcare market, announced today that it has entered into a definitive agreement to acquire Medical Dictation Services, Inc. (MDI) for $16.2 million.
Founded in 1981, and headquartered in Gaithersburg, Maryland, MDI is a leading medical transcription company with approximately 450 employees providing service to approximately 30 customers located predominantly in the mid-Atlantic region of the United States. For the fiscal year ended March 31, 2009, MDI had unaudited revenue of approximately $13.7 million, and currently has an annualized revenue run rate of approximately $14.3 million.
Below are SMALL excerpts of the 64-page SEC filing. I chose sections which I thought would shed some light on where Transcend currently is and where they plan to go, so not only the new MDI-MD transcriptionists but also the current Transcend Transcriptionists could possibly stop stressing about what their future holds.
HOPE THIS IS OF SOME HELP TO YOU.
TRANSCEND SERVICES, INC.
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Delaware |
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(State or other jurisdiction of incorporation or organization) |
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One Glenlake Parkway, Suite 1325,
Atlanta, GA 30328 |
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Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2008 |
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Transcend Services, Inc. hereafter known as the Company
EMPLOYEES
As of December 31, 2008 the Company had 749 full-time and 423 part-time employees. These included 587 full-time and 418 part-time medical language specialists, virtually all of whom work from home. One hundred and twenty three full-time and three part-time employees work in operations to support and manage customers and medical language specialists. Thirty-nine full time employees and two part time employees work in sales, research and development, implementations, and general administrative functions. Neither the Company nor its employees are currently a party to any collective bargaining agreement. The Company has not experienced any strikes or work stoppages, and believes that relations with employees are good.
As of December, 2008, approximately 65% of the Company’s total volume was processed on the BeyondTXT platform and 35% was processed on other platforms.
Management plans to gradually increase the percentage of voice files processed through BeyondTXT speech recognition from 24% of total volume in the fourth quarter of 2007 and 35% in the fourth quarter of 2008 to approximately 40% by the end of 2009.
Speech recognition technology will allow us to produce the same volume of work with fewer medical language specialists due to the productivity improvements the Company is able to achieve, and may open the market to a new pool of professionals.
In mid-2006, a portion of work began to be processed offshore through partners in India. Volume processed offshore has gradually increased since then.
By the fourth quarter of 2008, the Company had increased the percentage of work processed in India to approximately 19% of total volume. Management plans to increase this percentage gradually over the next several years and believes that in the long-term (5-10 years), market demands could drive the mix closer to 50% domestic and 50% offshore, but in the intermediate term (2-5 years), the mix is expected to gradually grow to about 30% offshore and 70% domestic. At some point in the future, the Company may decide to establish a transcription operation offshore, but currently is relying on partnerships as the preferred solution.
The Company’s income before income taxes has improved in 2006, 2007 and 2008 due in large part to improved customer retention combined with new sales, increased use of speech recognition technology and increased use of offshore transcription partners.
The Company provides medical transcription services to the healthcare industry. The Company’s mission is to provide accurate documentation of the patient / medical provider encounter on-time at a fair price. Transcend’s customers include hospitals, hospital systems, multi-specialty clinics and physician group practices in the United States. Transcription services consist of three primary phases:
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Phase I: Dictation Capture. In this phase, a physician dictates the results of a patient encounter or procedure into a number of different voice capture systems, including hand-held devices, dictation capture systems at customer sites and telephone dictation capture systems located in Transcend’s data center in Atlanta, Georgia. The result is an electronic voice file that is ready for processing. |
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Phase II: Voice to Text. Using a workflow system, voice files are either routed directly to medical language specialists (MLS) to be transcribed (typed) or are routed through speech recognition and natural language processing systems which produce a draft which is routed to the MLS for editing. In certain cases, documents are routed through Quality Assurance teams as well. The result is a text-based report that is ready to be returned to the customer. |
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Phase III: Distribution. Completed reports are distributed to the customer electronically and are either interfaced to the customer’s electronic medical record and/or hospital information systems, printed at the customer’s site or faxed to the customer. |
The Company provides two primary medical transcription options for customers: (1) the provision of transcription services and technology using the Company’s proprietary BeyondTXT workflow platform or (2) the provision of transcription services using the customer’s proprietary or licensed third party transcription system. If the customer does not have its own transcription technology or no longer has the desire or resources to maintain and upgrade the technology they do have in place, the BeyondTXT platform provides a turnkey solution. If the customer has invested in their own transcription technology and wishes to keep their system in place, the Company’s transcriptionists access the system and perform all transcription services using the customer’s system. Management believes that our ability to serve a customer regardless of their use or non-use of our platform is an important factor in our success. As of December, 2008, approximately 65% of the Company’s total volume was processed on the BeyondTXT platform and 35% was processed on other platforms.
INDUSTRY OVERVIEW
Medical transcription is either performed in-house by hospital or clinic personnel or outsourced to local, regional, national or offshore vendors. Hospitals and clinics may choose to outsource for many reasons: (1) the shortage of qualified medical transcriptionists; (2) the unique and burdensome management challenges of managing a 24/7 operation that must deliver critical patient care information quickly; and (3) the high cost of equipping in-house personnel with the hardware, software and support necessary for their jobs. Successful transcription companies make use of technological advances in Internet access, speech recognition, security, software and hardware that allow remotely located, highly trained personnel to function as well as (or better than) in-house employees. Management believes that the principal historical competitive factors of price, accuracy and turnaround time are expanding to include other factors such as speech recognition capability, electronic security, hardware redundancy (to protect against data loss) and data integration. In addition, management believes that the ability to recruit, train and, most importantly, manage personnel nationally and internationally will lead to further outsourcing, and that only those companies prepared to compete using resources outside the customer’s local market will prosper.
The market for medical transcription services is sizable. The total annual market potential for medical transcription is estimated to be $12 billion, of which an estimated $5 billion is outsourced. These figures include not only hospitals, but also physicians’ offices and clinics. The Company focuses primarily on the hospital market. There are approximately 4,900 community-based hospitals in the U.S. (hospitals accessible by the general public) with approximately 800,000 beds that comprise the Company’s primary target market. If the average annual market value of transcription services per hospital is $400,000 (our estimate), the Company’s primary target market is approximately $2.0 billion. The market is highly competitive and fragmented, with several thousand transcription services companies nationally. Management believes only a dozen or so competitors have revenue in excess of $15 million.
Demand for medical transcription services is growing as the demand for healthcare services increases. Macro-economic trends such as the aging of the baby boomer generation are projected to have a major impact on the demand for healthcare services in general and should lead to a corresponding increase in the demand for medical transcription services.
HISTORY OF THE COMPANY
We were incorporated in California in 1976 as TriCare, Inc. (“TriCare”) and reorganized as a Delaware corporation in 1988. TriCare completed an initial public offering of its shares in 1990. In 1995, the Company acquired Transcend Services, Inc., then a Georgia corporation, by the merger of Transcend Services, Inc. into TriCare and changed the name to Transcend Services, Inc. The historical financial statements of the former Transcend Services, Inc. became the financial statements of the Company and include the businesses of both companies as of the effective date of the merger. Between 1993 and 1995, the Company acquired five medical transcription companies.
As a result of these transactions, the Company now operates in one reportable business segment as a provider of medical transcription services to the healthcare industry.
In 2004, the Company introduced the BeyondTXT transcription workflow platform.
On January 31, 2005, the Company acquired Medical Dictation, Inc., (MDI), a Florida-based medical transcription services company. During 2005, the Company’s field operations were reorganized to form customer-centric teams that are responsible for all aspects of production, quality and customer care. Effective December 30, 2005, certain assets of the transcription business unit of PracticeXpert were purchased.
By early 2006, the Company began processing significant volume through the Company’s speech recognition solution and, throughout 2006, 2007 and 2008, have steadily increased the percentage of work which is electronically converted and then edited versus transcribed (typed) from recorded speech. In mid-2006, a portion of work began to be processed offshore through partners in India. Volume processed offshore has gradually increased since then.
On January 16, 2007, the Company purchased certain assets of OTP Technologies, Inc. (OTP), a Chicago area medical transcription company, for a purchase price of $1,110,000.
On January 1, 2009, the Company purchased certain assets of DeVenture Global Health Partners (“DeVenture”), a Canton, Ohio based medical transcription company, for a base purchase price of $4,250,000 plus potential consideration based on results for the first six months of 2009. The Company does not currently expect to pay any additional potential consideration.
BUSINESS STRATEGY
Transcend’s sole focus is providing medical transcription services to the healthcare industry. The Company’s strategy is to succeed in the marketplace by successfully executing six key strategies.
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Provide unparalleled service to customers |
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Increase market penetration |
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Sustain technological leadership |
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Attract and retain talented professionals in the U.S. |
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Increase utilization of offshore resources |
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Successfully complete and integrate acquisitions.
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Provide Unparalleled Service to Customers
The key to the Company’s success will always lie first and foremost in providing excellent service to customers. The Company retained 98% of customers in 2007 and 2008, which is believed to be superior to most of our competitors. Management believes that customers who are consistently receiving high quality documents on time at a fair price are likely to remain our customers year after year. Satisfied customers provide sales leads and referrals that help us drive new business. Accordingly, the Company has an ongoing program to monitor and improve customer satisfaction which includes continuous monitoring of transcription production statistics relative to contracted standards, periodic customer surveys and a dedicated regional operations support organization that maintains regular (often daily) contact with customers. Management believes that regional operations managers provide a competitive advantage in sustaining customer satisfaction. As our regional operations managers typically come from a Transcriptionist background, they possess the expertise to continuously improve quality. In addition, they provide customers a central contact person in the organization who is directly responsible for resource scheduling and quality control and can quickly resolve any issues that arise. The Company practices continuous quality improvement with the goal of improving the level of service over time.
Increase Market Penetration
The transcription industry is large and highly fragmented. In addition, it is currently estimated that 60% of transcription volume is still performed in-house. As a result, management believes that the Company is well-positioned to increase market share both by winning contracts with hospitals who are now actively considering an outsourced solution and by taking business from competitors. Management believes that the level of service provided by many of the Company’s competitors can be very inconsistent. As a result, the Company is often asked to submit proposals on new accounts where Transcend will replace a competitor. In addition, the Company believes that smaller competitors are increasingly unable to keep up with advances in technology and lack the capacity to give customers assurance that they can consistently meet turnaround time requirements. As a result, the Company frequently wins new customer accounts from customers who have outgrown the capabilities of their smaller providers. The Company’s tested and proven infrastructure enables it to serve substantially more customers without a significant increase in fixed costs. While continuing to focus on day-to-day customer satisfaction, the Company intends to add new accounts to the existing customer base to efficiently utilize the capacity of the infrastructure and established customer-oriented support organization.
The Company intends to grow by focusing the sales team on potential new accounts and utilizing the operations management team to increase services to the existing customer base. The Company’s target market is focused on community hospitals with over 100 beds. Based on experience, this target market can realize the most benefit from services while still allowing the Company to provide superior customer service at a reasonable profit. The Company targets new business from hospitals where there is not a current relationship as well as affiliated hospitals of existing customers. A telemarketing partner is utilized to help identify hospitals within the Company’s target market that are interested in transcription services. New business leads are also generated from regional operating managers, who receive referrals from the administrators they work with daily. Management anticipates continuing to add sales resources to help deliver revenue growth.
Many hospitals are members of group purchasing organizations (“GPOs”), which provide value to their members by pre-screening the best vendors for a particular product or service and pre-negotiating terms and conditions with the vendors. The Company signed an agreement in 2008 with one 1,400 member GPO and will attempt to secure additional GPO contracts in the future in order to increase market penetration and accelerate growth.
The Company also expects to continue to win new business by working with technology partners. Technology providers, such as Nuance and 3M, license their proprietary transcription platforms to hospitals across the country and refer the transcription work to preferred service providers like us. Management believes Transcend’s size and superior customer service make the Company a preferred provider to these partners.
Speech recognition technology represents a sea of change in the transcription industry. The Company has invested heavily in fully integrating speech recognition technology into the BeyondTXT platform. The Company licenses the speech recognition engine, natural language processor and various editing tools from MultiModal Technologies, a leader in the industry, under a September 2006 agreement that renews annually at Transcend’s sole option through September 2010, with the last such option period ending August 31, 2011, and thereafter if mutually agreed by both parties. The Company’s speech recognition solution requires no physician training or change in physician work habits. Voice files are collected in the same manner regardless of whether the job will be transcribed (typed) or edited using speech recognition technology. Once a physician’s voice profile is built that meets predicted quality criteria, future work from that physician is edited. When a medical language specialist is presented with a draft document, they listen to the voice file and edit the document as necessary. Their edits are fed back into the voice profile, which learns over time in order to continuously improve the quality of draft reports.
The use of speech recognition technology in BeyondTXT results in a more efficient transcription process and leads to lower direct costs and higher gross margins while allowing the Company to offer competitive pricing. The Company’s medical language specialists earn less per line of text for editing, but their increased productivity generally allows their total compensation to remain unchanged or to increase. After the cost paid to MultiModal Technologies, the Company is still able to reduce the average cost per line of text. This is a key defensive strategy against pricing pressure in the industry.
Management plans to gradually increase the percentage of voice files processed through BeyondTXT speech recognition from 24% of total volume in the fourth quarter of 2007 and 35% in the fourth quarter of 2008 to approximately 40% by the end of 2009. Longer-term, the percentage of transcription volume that is edited using speech recognition technology is dependent on such factors as the mix of transcription volume that is processed on the Company’s platform versus customer platforms, the percentage of dictators for whom high quality voice profiles can be built, and the ability to hire, train, and retain editors.
Attract and Retain Professional Staff
One of the Company’s critical success factors is the recruitment and retention of the industry’s best knowledge workers, including medical language specialists, application developers and service professionals. The goal is to be the best company to work for in the industry. Management believes that there will be a shortage of qualified traditional medical language specialists in the future. There are two domestic solutions to this problem. First, workers will be attracted and retained by offering competitive pay and benefits, stable and responsive management, a predictable abundance of work, a stable and efficient platform, career development opportunities and the opportunity to work from home. Second, speech recognition technology will allow us to produce the same volume of work with fewer medical language specialists due to the productivity improvements the Company is able to achieve, and may open the market to a new pool of professionals.
Increase Utilization of Offshore Resources
The Company operates in a global economy in which medical transcription services can be performed efficiently and cost-effectively by offshore medical transcription service organizations. Customers have differing views of offshore production. Some believe it allows them to realize improved turnaround times and sometimes obtain a lower price without sacrificing quality or security of data. Others remain committed to domestic-only medical transcription. From management’s perspective, offshore production allows the Company to improve turnaround time by providing consistent staff at night and on weekends; alleviates the need to hire as many domestic medical language specialists in a tight labor market as would otherwise be needed; and reduces cost. Management plans to meet customers’ needs by providing services using a combination of domestic and offshore labor. In July 2006, the Company began subcontracting a portion of work to offshore medical transcription firms. By the fourth quarter of 2008, the Company had increased the percentage of work processed in India to approximately 19% of total volume. Management plans to increase this percentage gradually over the next several years and believes that in the long-term (5-10 years), market demands could drive the mix closer to 50% domestic and 50% offshore, but in the intermediate term (2-5 years), the mix is expected to gradually grow to about 30% offshore and 70% domestic. The growth in offshore volume is not expected to displace the domestic workforce, which the Company expects to grow over time. At some point in the future, the Company may decide to establish a transcription operation offshore, but currently is relying on partnerships as the preferred solution.
Successfully Complete and Integrate Acquisitions
The Company intends to increase market share through acquisitions and believes that the Company is the third largest of the more than several thousand medical transcription providers in the United States. Technological developments such as voice recognition technology and the need to provide customers with an off-shore solution are making it increasingly difficult for smaller medical transcription businesses to compete effectively. As a result, management believes that the Company will be able to make acquisitions on an opportunistic basis that will enable it to grow the business. When the Company acquires these businesses, it is often able to add the acquired companies’ customers to the BeyondTXT platform and to eliminate a substantial portion of their overhead. It is expected that acquisitions will be financed through a combination of cash on hand, debt, and shares of the Company’s common or preferred stock.
For customers who already have their own transcription workflow system, the Company provides outsourced transcription and/or editing services on the customer’s platform. For example, the Company has a partnership with Nuance to use their eScription platform, which is a popular hosted ASP solution that can be licensed by healthcare organizations. Customers contract directly with Nuance for the system implementation and contract with us for transcription services. eScription is speech recognition-enabled, allowing the Company to provide editing services to those clients in addition to traditional typing services. The primary advantage to this business model is simplicity—there is no proprietary workflow system to develop and maintain. There is, however, less opportunity for the Company to leverage technology to improve profitability. Some customers have legacy systems they have developed themselves. Over time, the Company expects to migrate customers with outdated legacy platforms off of their own systems and onto BeyondTXT. The Company provides services on numerous platforms: other notable examples include ChartScript (a 3M platform), Dictaphone (a Nuance platform) and Meditech.
CUSTOMERS
As of December 31, 2008, the Company delivers dictation and transcription services to approximately 154 hospitals and clinics with recurring revenue generally under long-term contracts or other arrangements. The average level of annual revenue generated by each customer was approximately $316,000 in 2008. The top 10 customers accounted for approximately 27% of 2008 transcription revenue, averaging $1.3 million of revenue each.
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 8 %, 8% and 9% of total revenue for 2008, 2007 and 2006, respectively. As of December 31, 2008, the Company had separate agreements with approximately 44 customers who are owned by Health Management Associates, Inc., a single healthcare enterprise. Revenue attributable to members of Health Management Associates, Inc. comprised $10,267,000, $9,611,000 and $8,473,000 or 21%, 23% and 26% 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.
COMPETITION
The Company experiences competition from many local, regional and national businesses. The medical trans
Thanks. I definitely will. I just don't want to be jumping the gun.
But the posts are also right about getting or not getting riled up. No sense on coming here and worrying. Might easily just worry at home quietly. :)
I think we did stop a few, but on the whole, they are jumping at it!
:(
Jumping up and down on my soapbox
Yes, doesn't it give you a warm and fuzzy feeling to see exactly how much our government protects its citizens. NOT!
Not only us MTs, but hundreds of other jobs have been outsourced so that CEOs and other parasites can make big profits even though the quality of service has taken a nosedive. Anybody try to talk to people from Dell Computer, for example? I just say I can't understand a word you are saying and call me back when you find sonebody who can speak English.
jumping jobs
Let me guess - you're trying to leave MQ? Look at the number of MTs they have now and the number they had a few years ago. That shows you that most MTs that left are not going back and are happy where they are. If you have an offer from a reputable company that has been around for a while I'd take it, jump in with both feet, and not look back. From your post it sounds like you have more to fear from your present situation than this unknown. There will be some adjustment as you get used to a new platform and new dictators and there will probably be times when you wish you hadn't changed, but just remember that once you were new at your current company and probably felt the same way before you got used to it. Pretty soon it will all be second nature again.
Jumping ship
I agree with you on the panic thing, just went to VR about 2 months ago and it is definitely not what was presented to me. I am looking into LPN courses, a year and a half, will make better money than I am now, and keep doing VR on the side. The VR money would qualify for pocket money for sure.
No jumping through hoops for me.
Hi PAM:
Upon reading your post, my first thought was that is a very cynical way to look at our industry, but then I got to thinking about my paycheck for my present company and how little I make for how hard I work. Then something clicked in my brain and now I totally agree with you. You are right -- we are slave labor for the MTSO's who probably make tons of money from our hard work. Well I am about retirment age and probably will not be working that much more. I have warned people against this job. You can no longer make a decent living as an MT and that is a fact. fortunately for me, I have other sources for paying my bills. Otherwise I am sure I would have been homeless a long time ago. Someday there will be no good MT's around and then who will do their work? Oh I am sure they will find somebody, not necessarily good quality and maybe not a dedicated worker with bad attitude, but that is probably what these companies deserve after all.
Call me totally disillusioned with being an MT.
Same here, another day spent jumping from one..sm
account to another trying to get my lines. My primary does not have enough crumbs to keep a mouse alive! I keep on keeping on but am actively looking for another job now.
Not flaming you, but where would you ship to? Might be jumping
zz
Better companies out there. Lot of acct jumping. Low pay. nm
Congress is jumping in (finally)
Claiming the FDA has been slow to act on this CRISIS!
People criticize activists like PETA all the time, but they have been warning about this issue for a long time.
Apparently people only start to pay attention to (activists) when an issue hits home...
From what Ive heard with everyone jumping ship
there of late, they must need MTs pretty badly. Don't ya think its time for them to regroup and make some changes for the better?
Thinking about jumping ship
MQ is making some poor decisions and I am debating whether to stay on for the ride and see if things are better once it is bought out, or just go somewhere else. I was looking at Diskriter...does anybody have any experience with this company, and if so I would love some opinions on it. TIA!!
Spheris interview, not jumping up and down
Just had an interview with Spheris. I currently work for MQ, so am naturally looking at what other options are out there currently. I've read some of the posts on Spheris and I have to say a few things stike me a little funny. I guess you know a recruiter is good at her job if she is good at working her way around the questions instead of answering the questions! I asked about work flow and running out of work. She basically didn't say the work flow runs low but it's not that it NEVER happens and that there is no downtime pay for lack of work. Sort of evasive if posts stating running out of work is a problem anymore. I wanted to know the line rates, high/low anything, and she said she could not give me that information!! Ok, you want me to consider you as an employer without all the info but you want me to fess up anything? Why is this a big secret? The wage that low that they have to try to sucker you in before they will tell you it sucks? If you think you might try to start me at 6 cents/line let me know, we can save a lot of time! She wants to start me on a clinic account because I havn't done operative reports. So lets waste all your other acute care experience? I'd rather hoped to be moving forward in my experience base than moving backward. On top of that, you can't even be considered for any changes for 6 months! If you hire on part time, you can't go full time for 6 months either. Many downfalls it would seem.
I've had a couple other interviews in the past few weeks. The outlook just doesn't seem very appealing.Why is it there is no medical Transcriptionist labor union and/or why one can't be started? I would think it would help stop a lot of mistreatment and outsourcing and protect our interests as we need someone to help out in this department since we are all home, alone.
I'm not planning on jumping ship, either. sm
The stress of changing companies is far too much for me that the stress of working more to pay the added cost. Less strain on the nerves to stay and just put in some extra time.
I don't plan on jumping ship
I've been there long enough to know that there are ups and downs in work and it happens all over. VR is not bad, could be better, but I like it.
I'd rather be out of work for a week or two than 4 months like I was with my local hospital. There may be better jobs out there but I'm not looking.
FYI: I'm basically sole provider for us, too. It gets tough at times but I try to roll with the punches.
where i live, everybody is jumping in front of
trains right and left, at an average of about 1-2 per day. that sure tells you where our heads are at in this country, huh? at least here, they cover you up afterward and dont go publishing the gory details. but maybe if we all hadnt been so screwed these past few years, it wouldnt be coming down to this.
and now the commuter trains are always late.
jumping in front of trains
and now the commuter trains are always late.
you are hilarious! i nearly choked on my coffee when i read this!
If by flex, you mean jumping through hoops,
yes, I flex. I wouldn't have any work otherwise. It is all on their terms if I want to get a paycheck.
Yes! Working for CyMed and quite happy. No jumping
from account to account. The rare times I run out of work, there is other work available, but that's the only account jumping. Platform wonderful! People great! Tech support fantastic! I made more money years ago, but I have found that is a universal problem with MTing. Overall, I'm very pleased.
Going from MQ at this point in time to Spheris is like jumping from the sm
frying pain into the fire. Don't go there!!!!!!!
With everyone jumping ship to work for TransTech
jumping boards making trouble now?
get off before I tell the moderator on you LOL
I know, but it's hard to leave. I'm afraid of jumping
out of the frying pan and into the fire.
You are very fortunate. As I say, my days of jumping are over. I agree with you 100% but some
people need to do that to keep their jobs or good standing. I am at a point now I dont need to do that but if you think companies dont love that you are wrong. They love the MTs that marry their jobs, work holidays, work weekends, work on a second notice, jump into backup accounts that you dont know to help out bla bla. They love it.
Just wondering if people are jumping in to work extra sm
since it is the last pay period before Christmas? Just a thought.
I agree... is it worth panic and jumping ship?
From what I hear since around Christmas, different MT companies reported increase on open enrollment. This is why I got the job with TT. Now, I find that the rates have gone up and my husband does not have a job which offers insurance, so I have to provide it for the family. I just left a company where I worked pretty much for the insurance and had maybe 900 bucks left over for the month take home. TT's insurance rates are still lower than that was and they went up.
So, I say to myself today, is it worth the panic, stress, and jitters I am having today? How do I know if I go somewhere else it will be as good a company with the opportunity to make better money than anywhere I have been aside from a hospital. Even hospitals are not offering insurance they are taking per diem, if at all, probably IC etc. so they don't have to pay benefits.
I have been thinking about it all since yesterday. I decided I am going to have a mantra today to myself and I will say, hang in there to myself all day. I have resolved not to jump ship at all. This company does give us the ability to make more money, and I will work more time to make up for the difference in insurance costs because I know I can here. They have the work, they pay fair, and they give me the confidence to do so. Anywhere else well, fire to frying pan, you know.
So, I wish everyone luck and if you are stressed today you are not alone. I am making sure for myself and our security in my home, that I will not allow myself to make any rash decisions. Thanks for listening. And hang in there.
Quit jumping on people who make that statement. Doubt she is
xx
uh, and you did a little throat jumping yourself there - mail-order bride? broom closed?
.
Facts
Once again, you do NOT have your facts straight. I never said the doctors were not providing wonderful healthcare to their patients, just not wonderful dictation to MTs. I'm a damn good MT and I do more than my share of ESLs, but if any MT gets those dictators for 8 hours a day, 98% of the reports, we all know their line count is going to suffer, just of sheer frustration. Of course, you get any ESLs with any company, but there are better accounts, and any good MT knows they can get better line counts with better dictators. My point, once again, is if any MT has the skills and experience to get a job where you have better accounts w/better dictators (notice I said dictators this time, not doctors since you seem to be so picky about my wording), then why should anyone have to put up with terrible dictation all the time when you can make a better line rate and get more lines with a different company. And just so you know, these dictators can't even fill in their own blanks. I personally played back one particular ESL dictator's report to him and asked him what the blank was. His reponse was, "I don't have a clue. Just do the best you can with it." So, how can they expect us to be able to figure it out without compromising quality? I sent the report with a blank and let him fill it in with whatever he felt should go there. My attitude is the attitude of any MT out there who is trying to make a decent check, especially if they're single and trying to support a family. My atttitude is what landed me the job I have now where I make 2 cents more per line than TransHealth, get better benefits, have plenty of opportunity for advancement if I so choose, and have much more flexibility than the job I had with TransHealth. If you like transcribe ESLs so much, why don't you just move your ESL-loving butt to India? You will have no problem getting plenty of ESLs there.
Facts
FACT: There was ONE pay cut, not two, and it was temporary.
FACT: Karen was not let go, she quit. I know that there was a lot of confusion when she left and she still has a lot of files (or did last I heard).
FACT: Although the situation was not discussed with all of us, I asked Lee (when she answered the phone one day) about a discussion I had previously had with Karen and she was not insulting about Karen. She said that the "fit was not right" and that she was sorry that things did not work out as Karen is a wonderful person. I think that all was good when she was a transcriber for the company and that things changed after she did hiring.
FACT: There are over 100 of us (I do not know an exact number) so obviously there is a lot of good at Keystrokes. Their customers are happy or they would not be around for so long.
FACT: You cannot please all the people all the time.
no facts
No, they don't outsource to anyone else.
FACTS?
It seems that we live in an age where each person feels that his/her opinions represent true facts. There are facts and there are opinions. Most value judgements (such as whether a company is good or bad) are just opinion. Why can't MTs figure it out that what is good for one may be awful for another? Seems simple to me. Now, don't get me wrong. When a company has some really terrible attributes, such as not paying or paying with bad checks in a setting of doing it over and over and not just making an honest mistake, we are then talking about facts when we call this a bad company. It is no longer just an opinion.
You don't have the facts
Interesting. I got the facts from the recruiter. So, maybe you don't know what's going on there.
Your facts just don't add up!
Actually, I just returned from a nice long walk on the beach, thank you! The Pacific Ocean is my backyard, and I spend a lot of time walking, biking, skating, swimming, and playing Volleyball at the beach!
By the way, we do have a short pier that you can take a long walk off when you are done wasting time testing and interviewing with other companies for whom you have no intention of working.
How can you possibly know whether a company is better or worse than Medquist until you actually work for them? You make absolutely no sense whatsoever, which makes you the perfect MedQuist employee!
Get your facts straight.
Do you know how many times I went to my company and sent letters, and emails? I mean I went all the way to the TOP.. you know how many responses i got...or offers to call and discuss with the supervisors.. ZIP--NADA...and by the way, these companies should value their MTs... who do you think is doing the bulk of the work... QA and MTs while the others travel around, buy new cars, boast how they have a 6-million dollar business. YES MA'AM. An owner told he has a 6-million dollar business. Hows does that grab ya?
Get your facts straight. sm
The pay cuts were a business decision not financial problems. I make more here than I ever made anywhere else. Checks bounce? I was one of the 8 and received the letter from the bank, my fees paid, etc. Then they changed banks and there have been no problems. Lack of work? Never. Lack of pay? Never. Maybe you weren't good enough.
She said they were doing away with all ICs - I have no facts for you. You should ask your team
x
Yes, these are facts. No doubt about it.
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Better brush up on your facts
They no longer let new hires use their own computers.
As for your opinion, to each his own. One has to simply search recent posts of these boards to find many views from those who are very unhappy at Webmedx and who state the company has declined in several ways over the last year.
My facts certainly are straight!
Be advised, Transtech certainly isn't the BEST COMPANY OUT THERE either.
Been there, done that, ain't working for me.
I don't take to kindly to companies who screw with the line counting system so that they make money and we suffer, and believe me, my facts are STRAIGHT AS AN ARROW
Maybe you should check your facts...
The last I heard there were accounts that are approximately 50% ESL and approximately 75% ESL. I seriously doubt you are on a 99.9% ESL account. If so, you must be in a world by yourself. Sorry, but I doubt it.
And here are even more simple facts about
I have been with them for 2 years. I work PT (6 hours/day). My average for last pay period was 163 lph. Yes, I exceeded production for PT (6000 lines/pp), I always do and did even when I was FT. I don't understand the complaints or the inability to meet production. The DI honestly takes all of 2 seconds on MOST (I aint saying all cause I don't work on all) accounts. I have worked on 6 different accounts and all but 1 have ADT feed...I am sorry it didn't work out for you because Amphion is one of the best nationals out there...good luck!!
get your facts straight
Acusis did NOT send our work to India. The layoff was due to the loss of a major account. Acusis US work stays in the US.
get your facts straight
the work is not being sent overseas....every company is going through cost cutting measures to tighten their belts...maybe if you SWATs werent gouging the company for so much hourly pay, us lowly MTs could have had a chance to get promoted??
ever think of that?
State the Facts
This is in reply to all the negative feedback regarding FutureNet. I usually do not get on these boards because of all the negative feedback, but this requires a reply. I worked for YOG for 12 years as did most of our employees here at FutureNet. I believe a lot of you know me from there and know I am honest and have a good reputation. This negative feedback being posted here is just pure junk. FutureNet values their MTs very much. That is why, if someone has not worked in 3 or 4 pay periods we give them a call to see if there is anything we can do to help. We NEVER ask them to leave a full time job to work for us. That is simply NOT TRUE. Yes, we do get low on work from time-to-time, so does every other service, but we find work for our MTs, especially those who are W2. We have been around since 1993 and have a good reputation with all our clients (abour 70) and MTs as well. Please do not listen to these negative remarks. I invite any of you who wish to do so, to email me or call me and I will be happy to discuss anything you would like to know. Again, we do appreciate our MTs and do whatever we can to keep them happy. Rita Smith
Get your facts straight, please!
There was not an earthquake in Oregon yesterday that measured 7.8 on the Richter scale with lots of damage and lots of injuries. There was not an earthquake in Oregon yesterday that measured 5.2 or 5.4 on the Richter scale either.
http://www.pnsn.org/recenteqs/
Here are facts from my experience.
I was confused with someone else. I had conversations with Carlotta, and she would say, We talked about this before. You said this previously. I told you... We hadn't. Some of the conversations were downright bizarre because apparently more than one of us complained about the same thing.
We were constantly asked to go above and beyond, and 110% wasn't good enough. Stretching was required every day. Do 100, 200, or 300 extra.
My liaison took work for herself. I would be asked to moved to a secondary, and then lo and behold a memo would come out asking for us to help extra.... only then there were no ports/reports available.
My liaison cherry picked.
QA was inconsistent and would say that the account specifics that were in writing weren't correct, and it should be done this way. Except no one bothered to correct them.
There was the crazy cat lady QA (you all probably know who that is) who talked third person through her cats in e-mails.
The final straw was when my contract was changed regarding the demands placed on the MTs, what was considered evening and weekend hours, what days I was supposed to work, and that's when I left.
It's sad to see that it is either still going on or getting worse. I know it used to be considered the elite of the elite, but something has changed, and it's not for the better. Hopefully the issues get straightened out before cronyism and the Peter Principle destroys the company.
Landmark facts
This company ABSOLUTELY DOES NOT have full service accounts. The accounts will each only have a couple of work types to type -- NOT full service. This includes acute care accounts.
This is why on the majority of accounts, the workload runs hit and miss. It varies by the time of day, day of the week.
Landmark lost a few accounts in the last 6 months and then gained a couple back. This is a repeat process for this company.
There are some accounts that show up on a very occasional basis, when the primary service needs Landmark's help.
Get Your Facts Straight
An email was sent out today- the layoffs are over now. 27 MTs, no corporate. Would like to know if that's really what you heard.
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