For profit versus not for profit organizations
Posted By: Maria on 2008-03-04
In Reply to:
Does anyone know if there is a difference (in salary or benefits) between being employed by a not-for-profit versus a for-profit hospital or medical center?
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for every business, it's profit, profit, profit. That's why it's business and not non-for-p
x
Isn't that called profit
They charge the hospital more than they pay us.... yes.....don't understand what is supposed to be bad about that. It's called profit. As far as calculating the lines differently for the MT versus how they count them for the hospital for billing, there is nothing illegal about that and there is nothing that says they have to calculate the lines the same way.
MTSO's profit
Do you know how hard it is to land an account that will pay you 14 to 16 cpl so that you can pay an MT 10 to 12 cpl. It is very hard, if you think it is so easy then I suggest you try to get your own accounts and deal with all the headaches. Keeping only 3 to 4 cpl per line to run the business, deal with all that stress, overhead, etc. is barely worth it to me. Even with the larger companies, by the time that they pay the MT, the QA, the overhead, the benefits, I know you think all the MTSO's get rich but the medium to smaller MTSO's have a small profit margin. Again, I suggest that you try to land your own accounts if you are so unhappy with the pay. Also if you can do 200 to 300 lines per hour, $14 to $24 an hour isn't really that bad of pay to be able to work at home. Yea I know years ago we got paid more but then years ago we actually TYPED more as we did not have the expanders, the computers, templates, etc. Anyway, I do agree that 7 cpl is a little low for very experienced MT's but for some of those that I have had apply, it is too much. Anway, flame me all you want, I don't know what the answer is as but maybe if enough MT's were to get their own accounts and take them away from the larger companies, they could make more, charge a little less than the larger companies. Hey also what happened to that gal that was on line that was going to have the backer to start her own company and asked for all the input and was going to pay the great wages and benefits, have the perfect schedule for the MT's, etc. Did she find out that it was not as easy as she thought? I would like an update from her if possible.
Patti
No, profit is they charge the company say 15 cpl and pay
transcriptionists 8 cpl.... the difference is PROFIT... If they pay a Transcriptionist for 75 amount of lines and charge the company for 100, that is STEALING
If 13 is the lowest you can go and still make a profit,
Whether someone else can afford to charge 11 cents is not relevant. Don't fixate on thta. You need to calcualate all your expenses (both direct and indirect), add to that a profit you can be happy with, and that's your price plain and simple. If your client accepts it, that's great. If not, it's out of your hands, and you start looking for a new client.
My husband also has profit sharing
In his case, he has the potential to receive a monthly bonus, which is based on how well this office does sales-wise according to what was projected. This bonus is issued through the regular payroll and is unrelated to the profit sharing, which is a part of the retirement plan (though separate from 401K) and is like a yearly bonus, I think perhaps based on company profitability for the prior fiscal year, so receives it in July, but we are not issued a check for this "bonus" and it is added into the 401K account. When we receive statements, there is a total amount that includes both the 401K and the profit sharing, but it is also broken down as to how much is in each account. I believe he had to work for the company for five years to be 100% vested and I do not think that he was vested at all prior to the five-year anniversary date, though I have worked for a company previously where an employee was gradually vested in increments annually (20% each year or something like that), where if you left the company after, say, three years you would be 60% vested and entitled to 60% of the funds in your profit sharing account, but any time after five years of employment would be 100% vested and, thus, entitled to 100% of the funds allocated to profit sharing.
estimate on company's profit
The company owner (who got the contracts for us, and we subcontracted from her), charged 2 cents more per line. In other words, if the transcription company paid the MT 9 cents per line for transcribing an account, the transcription company would charge the doctor 11 cents per line. That was in the year 2006 BEFORE we went digital, when we used the minitapes. I don't know whether digital requires more or less overhead.
No, it is only income if you are a reseller and are making a profit.
I had a long discussion with the IRS on this topic because I sold everything that wasn't nailed down in our house. If I had paid taxes on that money, it would have been double taxation because I paid taxes when I first earned the money that bought the item to begin with. I bought the items, used them for a while, then sold the items as if it was a "yard sale". I did not make a profit. I merely resold used items that belonged to me. I had receipts on most of it to prove that I didn't sell for more than what I paid.
It is different if you're selling on ebay as a business, in which case you would have to do a cost of goods sold, inventory, profit/loss, schedule C, and all those other fun things.
Yes, you can make a profit if you pick up and deliver.
You charge them a line rate that includes your cost for doing the tapes, printing, etc. A business person should know how to successfully sit down and figure up their expenses and how to charge a rate that will provide a profit, regardless of how the dictation is supplied. If the client wants delivery, I am glad to do it and charge them a fee for said delivery based on the cost of gas, vehicle maintenance, etc. They either are willing to pay the fee for the delivery or they decide digital doesn't look all that bad after all. Either way, I win. I also do not go to their office every day. I go twice a week and that's fine with them and doesn't bother me since I'm running other errands then anyway.
I would not dump a client that I've had for years simply because they are afraid of technology. I charge them accordingly for tapes because I consider that out of the normal way I do business and make sure I turn a profit, but I certainly wouldn't dump them. In fact, in some ways, their reluctance to move forward with new technology can be viewed as a positive thing because at least I never have to worry about losing them to speech recognition since they won't even pick up a phone to call in dictation. ;)
Yes, I have a call-in system, I have digital handhelds that I supply to clients, and I am well versed in digital dictation. I prefer my clients to use the digital services I offer, absolutely, but I do have some old clients that I've had for years that just don't want to make the switch. Not about to drop a $30K a year client over it, though. I know that eventually, they will come around and try the digital way of life. Until then, I'll gladly collect the delivery fees. :)
Their claim to be 'not-for-profit' cracks me up.
They're making $$ hand over fist at those seminars. Love the photo of the race horses at the top. Bet more than a few of them own some. Oh - and most companies with an LLC behind them are in other countries. Like India and China, to name a couple.
Of course it's a business! Anything that's run for the purpose of earning a profit is a busine
 What galaxy are you on?
isn't it the posting by the visitors here that determine the web site's profit?
just a curious question.
And there are organizations with
great sites to keep us informed and give ideas on how to make a difference. Like buy organic. Buy from local farmers whenever possible. Grow your own food if you can.
:oD
http://www.grassfire.org/
http://www.organicconsumers.org/
http://www.ghorganics.com/
Know any shortcuts for list re-organizations?
 I have a physician referral list that is almost 300 pages long, that was not in any particular order when it was sent to me. Needless to say, especially when I don't know the exact spelling of the doctor's name, an alphabetized list would sure help a lot. Also, a specialty field would be nice, and I am sure there are other cross-references that I could come up with that would save me a lot of time and frustration.
Anyone know how to set this MS Word file up to organize it, or transfer it somewhere else to organize it without wasting tooooo much time entering every doctor's name and address?
Sure would appreciate any and all suggestions. Thanks in advance!
65 character line versus gross lines versus pay by word
I am checking into other options for transcription. Can anyone tell me how to compare all of these types of lines & also payment per word? I know companies use different scales, so I wondered how they compare. I have been paid on a 65 character line with spaces, but I may be making a change in the future - don't want to get burned.
Thank you in advance!
Question versus gross lines versus 65-character lines....
I have always charged or been paid by 65 or 60 character lines or per letter or space typed, but have never been paid or charged per gross line.
What is the advantage of this? If I were to charge 11 cents per 65-character line including spaces, what does this figure out to for an average line rate and how do you do this calculation?
I'm wondering if it is financially beneficial for me to bill by gross line or to keep it the way I have it. I do know some accounts will only pay per 65-character line, as this was the deal my first own account I recently acquired. They were adamant on a 65-character line, but didn't specify with or without spaces and I personally would never not charge for spaces.
Thanks for explaining this. I appreciate it and hope everyone has a speedy day.
PPD versus ppd
Ok - maybe I am having a brain fart - the dictation says the guy smokes 1 "ppd" (pack per day) should i do ppd or PPD?? It is verbatim.
HELP!
x versus X
I need to know if it should be x or X. IE 8 mm X 7 mm.
CMA versus CNA
Medical Assistants ARE allowed to give medications and injections, and have been taught properly by their MA schooling how to do this. CNA is all patient care, changing beds, changing clothes, bathing, taking vitals (maybe), but no giving of medications. They were not schooled in this and legally should not be doing it...and that is probably universal through all states. That was what I was taught when taking my MA courses. LPNs can, FNPs can, RNs can, PAs can, but not CNAs. Totally different area of care.
RMT versus CMT - sm
The RMT (Registered Medical Transcriptionist) credential that is for those MTs who have just recently graduated or have been working but do not have the required 2 years of acute care experience to write the CMT (Certified Medical Transcriptionst) exam.
You can find information about the CMT and RMT exams and credentials at http://www.aamt.org/scriptcontent/creddesig.cfm.
RE: cc versus ml
We were told cc was on the "Do not use" list, according to
Joint Commission for a couple of years now.
CVA versus CVA
One is an infarct in the heart, the other is an infract in the brain, but I agree with other posts. Many times it will be dictated in the body of the report and you can determine the exact differentiation between the two. However, if you absolutely cannot do this, you cannot guess in a diagnosis and have to simply leave it as CVA, or possibly defer it to QA, in which they probably cannot determine it any more than you can, and they would probably leave it as CVA.
MT versus MLS
How about the MTSO Company who now refers to their MTs as Medical Language Specialists. Does anybody believe they get more money for being an MLS instead of just a plain ole MT?
MT versus becoming RN
Hi all.
I did a search in my area to look at RN salaries. I know working from home I can make $52,000 with some effort. The having to pay my own taxes is offset by not having to drive to/from work. Just curious of any of you have decided to go to school to be an R.N. My husband thinks it would be a good idea, but since I have been at home for over 10 years, it would take some convincing! |
|
|
|
Base Salary |
$59,036 |
70.4% |
|
Bonuses |
$150 |
0.2% |
|
Social Security |
$4,528 |
5.4% |
|
401k / 403b |
$3,670 |
4.4% |
|
Disability |
$947 |
1.1% |
|
Healthcare |
$5,328 |
6.4% |
|
Pension |
$2,486 |
3.0% |
|
Time Off |
$7,740 |
9.2% |
|
Total |
$83,883 |
100% |
Well, I'm not sure that you really want an answer of HOW to do it versus
just defending yourself, which is fine, by the way. Well, if you want an opinion on your situation, you see the problem yourself. You admit that you didn't discipline them and let them always have their way, which you feel is responsible for today's behavioral problems. Chances are they would have the same problems were they not with you 24/7 cause its your parenting skills that are at issue. Know what I mean? No, being an MT at home and raising your kids is NOT equivalent to what you, yourself, admit you did. You can't sit and type and let children run the house free will. You have to use your head and multitask, as the other poster said! Plan your days, plan activities, have a schedule for them, etc. Not trying to be mean, but that's really obvious, isn't it? You realize it now. Why not say something encouraging, like, Gee, I'm sure it can be done, but not the way I did it. I messed up. Rather, you post your negative experience which YOU caused and act like it can have no other outcome. It can. I have 3 kids, and all 3 different personalities. My oldest and first was the most demanding. I basically set up a Little Tykes playground for her in my office, and STILL she didn't want me to "type", as she grew to call it. Constant battle of wills, but guess who prevailed? Me! I'm the parent! She grew to understand that she would have her fun time AFTER my work - i.e. going to the park, movies, etc. My second child was an angel and would just sit on the floor playing with fuzz if that's all there was. My third child was a boy, and enough said there! I had no help whatsoever - unless you can include a bunch of negative relatives who mocked me rather than offer a hand in help, but it CAN BE DONE, and we were SO happy together. It is SO worth the effort - these are your children - your legacy - your LIFE. If they aren't your life, then my words are falling on deaf ears. I work around the clock - still do - typing hours here and there to have MY FAMILY as my #1 Priority. All my employers have always understood that and been more than willing to work with me. Also, I had stayed away from working for some companies that demand a set schedule because I refuse to work a set 8 hours shift with kids. Know what? Every single company said they would let me do "my own thing" on hiring, so while everyone else complains about having to work a straight 8 hour shift, I didn't have to! It can be done, even with the strictest companies! They respect where our hearts are, if its with our kids! Again, sorry for what sounds like a horrible experience for you and your kids, but you, yourself, admit it was your own fault. You are not the majority, though, again, the posters on this board are definitely anti-kids, so you've found your niche in that regard, so to speak! And, also, now that your kids have behavioral problems, severe, I believe, per YOUR words -- is the solution going to come from an outside source? From a stranger? Or from you? It doesn't sound to me like its working now. Only YOU can really fix your mistake and change your kids. As long as they're still with you, no matter how old, there is hope. But passing them off to the school system, or counsellors, or some "expert" is probably not gonna be too successful. Ground Zero is Mom, good or bad, positive or negative.
melena versus whatever
You are correct - and heaven help us all (including the patients) if that's the kind of QA you're getting on your job. Just to get more confused, check out "melanosis coli" which refers to dark pigmented lesion in the colon - NOT to bleeding or melena.
IC versus employee
 I have been an IC/MTSO both married and divorced for the past 15 years. I feel that I bring home "more" of a dollar than if I were making the same amount as an employee. I do have quite a few write offs as I do have a real "office" in the home, I take my depreciation on the house as I feel when and if I sell prior to dying, will deal with it then. I do deliver and pick up so have mileage. I save for my vacations and time off. I have the flexibility to take time off during the day if needed --work at night true but I CHOSE it not someone else. When married I just had my husband over withhold a little more and did not need to worry about the "tax bite" on April 15th. I planned and planned so I knew what he had to over withold. But again, when I make over $50K and end up paying SS on only $15K or so, it is well worth it to me. I did take a small "in-clinic" employee status this year to get out of the house as with no hubby - thank the Lord, and no kids it gets me out and I take out more of my taxes that way. But when I did not do that, I just took 5 to 10% out of each check and put it in a special account and it was more than enough to cover my taxes. Truly look at your paychecks as "employees" and see what you really bring home but everyone thinks that because your "employer" pays those taxes FOR you, you are not really paying them. So you just have to do the same. And you have to add the two salaries together even as an employee so that also hurts. But again, I feel being self employed or IC is the only way to go. Even when on vacation I stop in a local transcription company or a couple of clinics or hospital and talk to them about providing services so I can count part of it as a write off. Also look for seminars in cities you want to visit. I go to Vegas every year for the "electronic show" to see what is new for my company. Again, if you look carefully at deductions and plan, plan, plan it is better - at least to me - financially to be an IC. Patti -- e-mail me if you wish
IC versus employee...
Am thinking about going from employee to IC - what is involved with being an IC? Taxes, etc...would appreciate any advice from IC's. TIA
how did they come up with 40mg versus 40 mg?....
i was taught not to do it that way. i understand that every company has "their own departmental specs" or "preference" if you may, but that is a little bit to much for me.
MTs versus RHITs
From my experience with RHITs, the resentments and hostility was and is because our profession is based on production. While the RHIT has traditionally had a fixed salary, we as MTs are paid mostly by production. I cannot tell you the amount of hostility and resentment from RHITs because of this issue. Now, I'm not saying all RHITs are bad people, but whenever an RHIT can see an MT was able to make more money, well, that had to stop! The attitude from RHITs was that we were typists. No clue as to the intricate details our work demands of us. I can tell you from experience when Edix was formed, those RHITs that were the managers in the beginning could not wait to whip those transcriptionists into line! They wanted their foot on every transcriptionist's neck to show them whose boss!! Same old, same old!!
Subcontracting versus IC
At some point this becomes about who makes more/does better. Right?
8 cpl IC versus employee
No I mean money wise what is the difference once you take out the taxes. 8 cpl as an IC is less money than 8 cpl as an employee when the employee pays half your social security
IC versus employee
I was following you until you said "my regular scheduled hours". Um, if you are IC, you shouldn't have scheduled hours, only a set amount of production within a specified time period (say 2000 lines in 24 hours). I'd say you are already crossing that IRS rule of who has control without even considering the OT issue.
But, to answer your question, they can ask for help and you can say yes or no, but you are not under any obligation to do it. As the other poster did point out, preference might be given to someone else at a later time, but IMHO, not working "every weekend" is acceptable. You can give yourself permission to take some time off. No, they do not have to pay you overtime, but you could ask for incentive pay for the work you provide on days you are not already comitted to (they will probably tell you no).
cpl WITH versus cpl WITHOUT spaces
I really don't want to open a can of worms about poor pay, but I am really trying to compare these two options. I need to make a decision about which company to go with. Since I have no idea which has the better platform or better dictators I'm pretty much flying blind. The obvious difference is that one pays for spaces and one doesn't (I didn't know there were still companies that DIDN'T pay for spaces). Both are part-time IC.
Company 1 -- 7.6 cpl with spaces, no headers or footers
Company 2 -- 9 cpl with headers and footers, no spaces
Any insight would be very welcomed.
IC versus Employee
I am trying to figure out if going from employee status to IC is worth it. Anyone have any opinions?
ic versus employee
Hate to burst your bubble to but you are better off with your own accounts. Most of the nationals out there want strict hours and a requirement of how many lines you are going to do. Some do pay a little extra for holidays and weekends but not always and most you will get stuck working on weekends as well.
MTs versus MTSO
I don't know what MTs you hire, but I have always given 100% to my jobs. Right now I type an average of 2000 lines a day, 98% accuracy, willing to change my schedule so I can get work...........but its been the MTSO that have let me down. Right now I am struggling to get work becuase they have overhired AGAIN and this has happened with every MTSO service I have worked for. (4 to 5 in the last 4 years). Finally I am returning to a local hospital where I don't have to worry about running out of work.
By the way, I am not saying there aren't sorry MTs out there........I am just not one of them. I work my butt off, 1.) Because I like the challenge of transcription and 2.) Because of a little thing called bills, responsibility, and family. 3.) Satisfaction and the end of a long day.
Hot key versus pedal
Hot keys are the F function keys and they do the same things as the pedal. Personally, I don't like having to take my fingers off keyboard to start/stop using the hot keys. Much quicker for me to use the pedal, like driving a car, and I can regulate the dictation so that I am typing smoothly and continuously. However, when I am editing, I like the hot keys better cause I can ff and reverse quicker using them.
Pay versus quality
I understand that experience warrants more pay - however, if working means I take a lower rate, and work up to a higher rate - than I take it - it does not mean I give less of myself - Being a Transcriptionist I take pride in my work and work hard at whatever the rate. Too many jobs going over seas for a much much lower rate than 7 cents a line - if we want to get it back, and / or continue working than you do what you have to for the time being. I have companies that pay me 7.5 and clients that pay me between 7 and 14 - and thank goodness I am busy enough to make a decent living. I am not a prima dona who picks and chooses - I have a responsibility to my family to make money, and a desire to work and maintain a household.
However, I will not work for someone who does not pay at all, bounces checks or disrespects me in any way - but my quality never wans for any reason - that is my reputation on the line not any one else's.
So, yes we should make more money - but if this is what is out there, I will take it.
VR versus typing
For straight typing I get 8.5 and for VR I get 4.8 with 6 years experience. I usually produce around 170-200/hour typing and 150-200/hour VR. I loath VR.
ic versus employee
True definition straight from IRS is that they can make you commit to so many lines a day between so and so hours but if they say you have to do this many lines between this and this time than employee.
vr versus straight
I make more money doing straight typing as well. Boy, is this an offer from TTS in NH?
Experienced versus New
I have to admit that even though I have 19+ years of experience, this article is strikingly true. I am not saying that a new MT has the experience in that they can make a decision in an instant as some of us with many years, but they are trained now to follow AAMT, which I had never heard of until I set out on my own and came online to find work. I also have seen posts on this board of people that have worked in a clinic setting for 10+ years and have no idea about what else is available to them online or how to set that up for themselves. How many times have we seen posts that someone has worked on one platform and never anything else. I don't think that article is a plug for that school. I think that article speaks for what is going on today in the MT industry. I think someone who has just finished school has been shown a lot more than what we all have had to learn on the job. I could probably type faster and know more about terminology than any new MT, but a new MT should know BOS and be more computer savvy than I was starting out.
IC versus employee
Employee is definitely the way to go. I too was new a year ago and found a company paying .12 a line, .13 for nights. Taxes hit me really hard this year. I have to paid time off, no 401K, no sick days, no insurance. I would rather work for .10 a line and have benefits. No one should work for less than .10. I you ask me, experience transcriptionists should be making .15 a line.
I worked in Radiology and quit a job making almost $16.00/hr with six weeks paid time off after 29 years.
Now I make less, have no time off, no benefits and work harder with more hours as an IC and they don't offer employee status.
IC versus Employee??
Hey everyone. I just finished school and am doing the job search thing. Great fun right. javascript:editor_insertHTML('text',' ')
Anyhow, I know that I have a better shot of getting hired if I work IC but I don't know exactly what that would mean for me? Anybody have current info. on how it all works?
Thanks =0)
IC versus employee
I have to agree...it's very concerning how companies try to save $$ by hiring you as IC and not as an employee, yet try to exert much control over when and how you work. I don't think transcriptionists are aware enough of what/how much control a company can technically exert before they are really treating you like an employee and should be paying you as such. The IRS website discusses "behavioral control" and I would be willing that many transcription companies exert much behavioral control over the ICs, which would technically classify them as employees.
Whatever the word you used versus
what it is supposed to be, apparently it was wrong. Since you will not tell us the word, we have no way of knowing. Maybe the QA person misspoke by telling you not to guess, as they would have no way of knowing, but--did you use the wrong word or not????
11 o'clock versus 11:00
Hi Aud,
It is an AAMT standard that if something that indicates a position, for e.g., speculum was placed at 10 o'clock position or a lump was found at 7 o'clock position of the breast.
If doctor indicates the time
transcribe it as 10 a.m. or 11 a.m. and 10:15 a.m. and 12:30 p.m.
whomever versus whoever?
Whomever: You are him.
Whoever: You are he.
Do you get it now? Texas? That explains it.
PS - check out the VR versus transcription
...a physician's study, on the right under in the news...
Still think we have a future?
line versus report sm
There is just no way of knowing until you're there. It's crazy. I used to work for a company that paid by report, but they were all MRIs and specials. Then I worked at Spheris for a few months being paid by the line and could never get my line count because #1 the platform sucked (copy and paste.. it took longer to save a report than to type it) and #2 I was getting a lot of short reports. A lot of companies pay by the line on certain accounts and by the report for others. So you just have to try it. If it's not working out for you after a month or so, it's time to look elsewhere.
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