estimate on company's profit
Posted By: Beth on 2009-03-02
In Reply to: When applying for an MTSO company....(2 unrelated questions LOL) - MLY
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.
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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
For profit versus not for profit organizations
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?
for every business, it's profit, profit, profit. That's why it's business and not non-for-p
x
Here is my estimate...
If a dictation is 5 minutes long, it will probably take me 7 minutes to type it. So, I imagine if I had a 2 hour long dictation (God forbid....) I imagine it might take me 2 1/2 to 3 hours. I always do the "time and a half" thing on judging how long it might take me to do a dictation.
no estimate
I was actually suggested by the customer service representative when I originally was going to place an order for unlimited LD on my residential phone that it would be better to change over to a business line as they would likely cut you off if they saw you used the unlimited LD on a residential line so much. I followed that suggestion:)
Rough estimate.
I work approximately 5-6 hours a day five days a week and then at least 2 hours on Sundays. I can expect to bring in anywhere from 600-800 dollars every two weeks. There are so many variables to take in to this though. How fast you type, how much you make per line (7.40 for me). Good luck! This is not an easy job to get into, so just make sure it is really what you want to do...If you have any questions please feel free to email me.
I wpuld have to estimate - sm
Maybe a hundred or so, many different hospitals, and LOTS of ESLs with horrible accents...
I'd estimate about 200+ - all accents
x
Sounds like Transcend where they want you to give an estimate of hourly
and then they figure your production percentage on their website to tell you if you're above or below your average. Problem is if there's no work, they don't factor that in and it shows up a negative percentage all the time.
Your cost estimate is about right. Lots of insurances don't cover it. nm
When I was considering it, my insurance (Aetna) wouldn't cover the Band and I seriously considered going to Mexico to have it done (about $7000 at the time). I decided on a RNY instead, but Band surgery out of the country can be a great option if its researched thoroughly.
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
Can y'all give me a rough estimate on how many lines per hour you can do with SR...sm
speech recognition? I crunched some numbers today, and I can only do 300 per hour. I think I might tapped out. Is that good, average, bad? I don't have anything to compare it to, so not sure where I stack up. Any info would be great. Thanks guys!
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.
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.
What Company is This? I have been hired by a company that is sending a foot pedal.. Don't want t
.
The company cutting cpl, the company stopping paying for headers
:{
Good of the company? As IC, I am my own company. Not my problem if she has problems as long as I do
:P
Accepted a job with a new company, gave two weeks notice to my old company..
Old company, let me go before two weeks was up. New company, said they were having trouble getting me set up and my equipment ready, but they would pay me while I waited. It's been a month, still no check from new company even though I was told it was "in the mail." I have no income and am at a loss.
I have a signed offer letter from the new company, contracts, etc. I applied for unemployment, but old company is saying I quit and technically I am currently employed with the new company! New company is not returning calls or answering email.
What should I do!?!?!?!
I started sending my resume out today, but the process of getting a new job will take at least two weeks and I need money now to catch up on what I'm behind!
You don't want to work for this company. Call your current company and
tell them that you have decided against the new position and tell them that you would like to stay. It is cheaper for them to let you stay than to train someone new. A company who could be so tacky as the one you just spoke of is one you do not want to work for. You can rescind your resignation. If you are a good MT, they will be glad you did.
With my company, ICs use their own emails, employees have company email.
x
COMPANY INQUIRIES belong on Company board, please!
Goldbird
....3 months later my old company rehired me; can you return to your 1st company?
nm
Local radiology company, not transcription company
who has only 5 transcriptionists and are not hiring at this moment. We all work at home and get great benefits, no insurance out of pocket and 22 days paid vacation in the first year, after that it goes up. I feel very fortunate to have found them, but again I chose them because they did not do production, so now that they are, I'm a little disappointed.
I think it varies greatly from company to company...sm
I was hired five months ago by a national straight out of school at 8 cpl. I think it just depends on your knowledge level and ability, and of course, what the company is willing to pay.
i think it varies from company to company and/or location
VR company? Not when the MT company owns its own VR equipment. n/m.
xx
I have my own company email with my new company.
I can't answer your questions in your original post, I can tell you that with my new company, I have my own company email account, and I much prefer it. My old company had us use our personal email accounts, and they listed everyone who received emails in the cc line. They really never maintained those lists, and I received emails from them for a full five months after I quit - that despite my repeatedly asking to be removed from lists. Because the list had been passed from one person to the next in the company, I kept having to block sender after sender. Finally I replied to all, for each and every email I had gotten over a month's time. Well, that pretty much ended it.
I like to keep work and personal separate as much as possible.
It can vary from company to company.
If a company is on one coast and you on the other it can affect shift time, meaning usually if you want to start work 9-10 instead of 11 you could for 3rd shift, etc.
Buy your own... company computers are for that company only!
x
some of what you want to know varies from company to company,
client to client. The services each have their own QA grading system and you will get a copy at hire that tells you everything they deduct, and for how many points. This usually also includes formatting, such as wrong dates, right exam/wrong patient, etc.
You will need to know your punctuation and grammar first and foremost and use it properly, this is what you do. THEN if the client requests garbage in/garbage out (usually because they don't trust leaving anything up to us), you give it to them even though it hurts -- and should not be marked off QA for it.
Where do you study? Colleges with the 2 yr transcription course in my state make you take a year (or 2) of English grammar. No offense, but it's pretty much a 5th/6th grade review (is vs are, doctors' vs doctor's).
blanks will be limited, usually to 2, before you cannot send the report to client.
Wrong shortcuts - pay attendion to detail.
Varies from company to company
My first company I chose specifically because I knew they had a mentoring program and you had 12 weeks of "mentoring" to get up to speed. The training was very thorough. The first week was all training classes. There were very limited samples (1-2 per doc if at all). I worked there 6 months and never made their production quota, but they didn't care. When I asked my account manager about it, she said they knew the account was very difficult 95+% ESLs) and she wasn't worried about my production, that I was doing well.
I have also worked with companies that just did a training over the phone (usually about an hour) just to learn the platform. Then they did full QA for a day or two and then I was on my own. For both of these companies, I could review all the past reports of the doctors on the platform. That was really nice. I didn't have production requirements with these positions, just a daily schedule that I had to stick to. They just wanted to know when I would be working.
My recent company gave me a 10-minute training over the phone and gave me a couple of samples of a couple of the harder docs. I then had to submit 3 reports to the account manager to review, and then I was off on my own and was required to meet production immediately.
So it all depends. Each company is different. Good luck on the new job!
Try the company board with name of company.
x
My company did
They accessed and I watched what they were doing. It was an odd occurrence for me to watch...amazing, actually. I was amazed at the technology, but I suppose everything was okay, cause not had any problems from it. Like I said, I could see everything they were doing. It was like they had control of the mouse and I was watching with them sitting beside me!
My company did....
I was having major problems and they had to gain access to fix it. He told me that after our session, access could not be gained again. My husband (who is a computer nerd) confirmed this.
company
the company is e-Tranz out of Snellville GA
which company?
There is Transcription Solutions, Inc. in Texas and there is Transcription Solutions of South Carolina.
a company I got a job with
They say that as an IC I should carry insurance due to if I type something wrong or whatever they will not back me unless I am an employee and the Dr. or client can sue me......
company.
What is it you want to know about them?
You could try this company.
Try Beyond Words - I worked for them for a while and they are exactly what you are looking for. I don't know if they are hiring or not, but it can't hurt to try.
www.bwtsi.com
company
I have recently started working for JLG Medical. They pay good line counts for acute care. I was informed they are looking to hire over 100 MTs. So far, I am very satisfied. They do assign you to several different accounts so that you do not run out of work, but if that does not bother you, this is a company you might want to look into.
Just My Company??? Any others??
Is my company, Medquist, the first one to get set up with a convenient auto link in our posts, set up by MTStars, and not the posters, to direct readers to MTStars "review" site, where they get to inform everyone of whatever info they choose - outsourcing status, bad press, bad reviews, and all the negatives in one easy click?? I've only seen the link for MY company to date, as well as even further linking their transcription platform. Lots of other companies below with no cute link to "bash" them provided by MTstars. Is MQ by chance just your first choice of this new "change"? Company board has no such handy links for other companies either. While I work for MQ, and certainly have HUGE issues with them, this board will now be a true conflict of interest for MQ employees to even post on, as the board itself has now taken an aggressive stance of being anti-Medquist. So, do we support a forum that could help Medquist lose accounts, while helping their MTSO friends gain accounts, via a slanted info display? It was camouflaged before, the favoritism of certain companies, while flaming others, but still obvious to those of us who hang here, and still denied by Admin. But this is openly helping steer everyone and anyone to a preselected list of negatives, handpicked by MT Stars. Though, naturally, I will be told via "private email" that they are working on posting the positives. And, as dismal as all things MQ may seem, there ARE positives. Not gonna post them either, nor the negatives, as that is not my beef. While I am waiting to see what the courts decide regarding MQ, there are still 10K MTs employed by MQ, not to mention countless innocent tech support people, etc., so for MTStars to aggressively campaign against MQ using this board as their tool is NOT fair for the MTs. And Gee, isn't that was MTStars always said this board was about? The MTs, no matter who we worked for? Well, I can't give my suppor to a forum that is threatening to take MY income away as well!I know - nobody will miss me, good riddance, etc. But the point is - just wait til its YOUR precious company being negatively impacted. Pretend you work for Transcend, or Spheris, or Medware, or MDI, or Diskriter - (by the way, in fairness' sake, when I post this, all these company names should now have been converted to hyperlinks). If they are - fair. If they are not - slanted and NOT fair. If someone even posts negatively about your companies, some of you get foaming at the mouth - we all can relate that while we ALL are unhappy about something with our companies, its another thing to sit back and watch them being slammed with one negative after another. Imagine now if MTs and any reader can be directed via link from your very own post to some "review" section that just lists all the crap about your company. Not cool. Not impartial and will negatively impact the life of this board, and the honesty and credibitily of any referrals. This board is censored, but not openly. That is the WORSE censorship there is! We all know companies like KS have negatives get removed - POOF! not hard to figure - MQ's negative stay til eternity - preserved better than a can of SPAM! and it is NOT just about offshoring. That's just an excuse and 1 piece of the equation. Period. So, where are all the links for dirt on all the companies??? Probably won't be watching, cause I am so disgusted with this garbage. This isn't a place for MTs to share and support each other. Its a forum that is supposed to fool us perceived stupid MTs into thinking its for us, but its a tool for someone to pursue their one agenda. Which is fine, but be HONEST about it.
company
 Has anyone worked for Breitner Transcription? Are they a good company to work for.
Thanks
RE: company
Searched archives for Breitner and came up with: Documents 1-50 of 74 displayed; i.e., a total of 74 posts, albeit, dated 2004 for the most part.
only company that has not been
trashed on here. I am just VERY unhappy with my current company.
what the company is?
I would like a $1000 paycheck again.
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