why MQ and Nuance are buying everyone out - unhappyMT

so let's open our eyes.  MQ and Nuance are now the 2 biggest companies, and very known fact that they are offshoring everything they can.  I don't have firsthand information, this is just my theory.  they contact hospitals/clinics that they don't have contracts with and underbid them, probably to a point the hospital administrators are doing cartwheels.  As soon as they acquire the majority of the accounts that the smaller companies are now contracted with, such as eTransPlus and WebMedX, they start "stealing" their accounts away fervently.  Suddenly a profitable company such as the 2 mentioned have lost half of their accounts.  They can underbid possibly even half and the hospital is thinking "wow what a saving."  they can do this because they know that as soon as the acquisition has been finalized, they will immediately cut the pay and/or benefits, probably both, of the transcriptionists who are suddenly "their" employees, then they immediately contract the work out to India.  Those people from the bought-out company either take the pay cut, get fired completely because they are no longer needed, or quit.  All of that put together gives them the opportunity to send all work offshore, which was their intention the whole time by underbidding to an impossible rate for American transcriptionists to work for, and POOF your work is gone.  The greed of transcription companies is disgusting, but having 20+ years in this industry, that's not the thing I find most disgusting.  Hospitals have the money to pay us.  They did it for years before this offshoring thing came into play.  Yet they are also greedy.  What angers me is the fact that they choose to jeopardize patient care in order to make money.  We all know how bad the offshore transcription is, yet hospitals are willing to accept it because it is a "savings." 

Bottom line, MQ and Nuance are trying to either buy out all smaller companies or force them out of business because they can't compete with the line rates that are paid overseas.  Some companies do still have integrity and value our work.  That doesn't mean they won't fall into the trap.  If they lose their accounts because either the Q or Nuance went after them and got them, they can't stay in business anymore.  They'll have to cut staff and eventually a buyout is pretty much the only way they have to reap anything. 

This is the whole deal.  If you're a company owner and your clients begin disappearing to the point that you can no longer make not only a profit, but enough money to pay your employees and offer them some decent benefits, you're pretty much forced to sell.  This trend will not stop.  These 2 MTSOs are working fervently to get all of the hospitals that we give great service to in both quality of work and quantity of work.  Once they show them how "overpriced" we are, they begin to jump ship one at a time and the smaller companies can no longer operate.  I believe that a lot of these companies were forced to sell because of losing clients one after the other.  I don't believe they did it to throw us into the abyss.  But that is how it can look from our end.  Believe ME, I am not condoning MQ or Nuance business practices, but they have the power and the money and they're not going to stop until they have everybody.  Then they will send ALL work overseas and we are done with our career.  Of course (do I need to say this) IMO.