A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Company buy-out changes - cinnabun

Posted: Mar 19, 2012

I am not provoking any type of argument here, but I am sincerely in the dark about this. I recently started working for a company and, in the last few days, rumor has it that the company might be bought by a larger company. My question is, will this affect me at all?? If so, what ways?

Thanks!

which one? sm - justme

[ In Reply To ..]
Hard to say unless you give more info.

depends on the company buying you out. - nm

[ In Reply To ..]
nm

buy-out - cinnabun

[ In Reply To ..]
Let's say the biggest spider in the room.

I play word games all day at this job. - sm

[ In Reply To ..]
Any chance you will just come right out and say it? My brain is fried.

If your company is getting bought out - by M*Modal - Yes it will affect you!!

[ In Reply To ..]
Been there, done that. Not a pleasant experience. Start looking for a new job now (My opinion).

buy-out - cinnabun

[ In Reply To ..]
When I read that MModal has bought anoher company, I read this same thing,"I would find another job." But, what exactly does that mean? It's difficult to take a complaint seriously when no-one will share what has happened to them PERSONALLY. I am led to believe that, in perspective, not much does happen to the individual MT.

Maybe this will get some replies. LOL

Don't really want to get into it here, but - it was a nightmare to say the least.

[ In Reply To ..]
You want details? I have no problem telling you. You can email me if you want. Was with them for 11 years!!

who do you work for? - Nervous Nellie

[ In Reply To ..]
xx

buyouts - AnonToo

[ In Reply To ..]
Well I've been through 2 buyouts. The first was great, I made more money, I got benefits (because we went from I.C. to employee status), and the platform and hours stayed the same. I could still do my work whenever I wanted as long as I met my commitment.

The second one? It wasn't positive or negative, it just was. My pay wasn't cut. I don't use my health insurance through work (I use my husband's whose company 3 years ago had a 20% paycut across the board PERIOD and some lost more if their managers didn't code their jobs properly) because his seems to be slightly better.

I'd stick it out and see what happens. If you are good, you usually can find something else.

Good luck.

re: company buyout - anon

[ In Reply To ..]
you should really try to get some responses from the ex-WebMedX people or ex-eTransPlus. I worked for both of them but not at the times of buyouts, but this is what I get reading this board. From WebMedX - they were told nothing would change. pay would be the same, still have all PTO days, insurance remain the same, etc. Well, at the time they said it, it was TRUE. It was true UNTIL the takeover, and then the takeover company would wait about say 1-3 months, everything fine, THEN here are your new insurance rates, new insurance company, new pay rate, new PTO deal, etc. then the ex-WMX'ers are saying "they told us nothing would change." takeover company says "who told you that?" answer "WMX." takeover company "you don't work for them anymore, you work for us."

point being, be very careful in a takeover situation because you have 2 choices. the company you work for is in essence going out of business, you are being laid off. they don't want to pay you unemployment, so they promise you nothing will change. until 3 months from now when the new company changes it. so choose wisely, new company you don't know anything about, or unemployment and maybe you can escape this industry forever. always remember, the company that just sold you out is telling you EXACTLY WHAT YOU WANT TO HEAR. you didn't ask for a change, had nothing to do with it. they are throwing you under the bus, and they will LIE LIE LIE LIE. plus remember, the unemployment office is not just there to give you a check. you can ask for an interview with one of their "people" (don't know what their titles are). explain to them you have been in this industry however many years and you need some training for a new career, once you register with them they will help you for free. I know every job I look at wants me to know Excel, and I DON'T KNOW IT. they will train me for free. and by the way, you don't even have to be on unemployment to get the training. you just have to go and register. you can just tell them you are in a dead-end career and you need some training for other opportunities. and also, they will give you resume help. hope this helps.

buy-out - cinnabun

[ In Reply To ..]
Hey, I appreciate the replies. They do help. Thank you! I asked my "leader" today, and she said this rumor goes around about twice a year and is 100% wrong, but we shall see.

Maybe 99% wrong - Sad

[ In Reply To ..]
I heard the EXACT same thing. This hospital would NEVER do that. Maybe we work for the same company? Our company went to DQS platform a couple of years ago and we were afraid this was going to happen. Then, over the last three months, our minutes skyrocketed from 2000 to 5000 all in a week, and we couldn't get them down. Then, BAM! Mandatory transcription meeting and we're outta there in 30 days. BUT, I truly, truly hope that's not it in your case. I really do. I wouldn't wish this on anyone!

Excel - Anonymous

[ In Reply To ..]
Excel is not a big deal. There are all kinds of books that you can get to train yourself, the software is not very expensive. You can practice by doing your own spread sheets, your personal budget, etc. I used on line tutorials and took a class at my community college. There are also free classes available in most communities, as you mentioned. It's a huge program and you'll never know it all, and would probably only use a small portion of it on the job.

good to know - anon

[ In Reply To ..]
Excel just scares me because I don't understand it, don't know what spreadsheets are all about. I would like to take a class. I tried doing the tutorials and I did learn some, but that was over a year ago and I don't remember.

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