A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Found this statement in the SEC filings. - ARE YOU KIDDING ME??
Posted: Dec 07, 2012
http://files.shareholder.com/downloads/ABEA-6ARM1D/2206687409x0xS1441567-12-6/1441567/filing.pdf
Additionally, our expanding footprint in India has enabled us to increase our offshore production from 28% of our volume to 47% over this same period. The financial impact of these measures has been an improvement in gross margins during this timeframe from 34% to 46%.
Employees ARE YOU KIDDING ME?????? NEED TO DO SOMETHING ABOUT THIS.
why do people dislike truthful posts - hate the dislike button
[ In Reply To ..]This is sickening infomation and there is nothing to dislike about it.
Maybe they disliked the sickening information, not disliked the post... - nm
[ In Reply To ..]x
that's what I think, too - fwiw
[ In Reply To ..]
That is why everyone needs to get out - of this field.
[ In Reply To ..]It is not a profession anymore. Company ruined this career by company greed and profits. This is a slave labor job just like back in the 1900s. After 20 years, what do I have to show for myself by staying with this company? NOTHING. Just more pay decreases, losing accounts to India and then no job.
What am I doing about it? Almost done with college.
Unbelievable - disgusted
[ In Reply To ..]They are delusional if they think that their relationship with the employees is generally good. Ask Vern apparently never looks at his email to see the complaints, that way he can claim ignorance. This company does all it can to discourage chatter between employees in order to organize, they would hate for a labor union to come in. As for a work stoppage, I believe India was able to pull one off here lately.
By the way, in the tiny print it says they increased their gross margin 12%. That is a lot of money. So all we got was the possibility of a $10 spot award? The company made millions and we got a 1% 401K match?
They know their relationships with - my2cents
[ In Reply To ..]employees is not good. The statement made by MModal that the OP posted was propaganda for investors. They are saying everyone is happy b/c they have not formed a Labor Union....so what say we organize so they know everyone is unhappy? What do you think would happen with their investors then?
I was also surprised that their debt is only $300m? - I knew they
[ In Reply To ..]were making money hand over fist off of us to be buying up everything on their wish list and have no more debt than that.
Time frame is 2 words, Corporate. - nm
[ In Reply To ..]x
Maybe it's finally time to change that "not represented - by a union" status. (nm)
[ In Reply To ..]*
I would have joined a union in a heartbeat; however, - anon
[ In Reply To ..]I think it would have been beneficial when there were just U.S. MTs. I don't believe it would do anything now but hasten our demise to the Indian workforce who is still willing to work for nothing. I think the time for unionization has passed.
This filing is incredibly long, but the most - interesting read concerning
[ In Reply To ..]M-Modal I have read including many eye-opening facts about the offshore component of business. I didn't know that M-Modal uses "cloud" technology.
"Speech recognition and natural language understanding technologies, including our own, are not accurate in every instance." This statement made me laugh out loud!
"Recent legislation and possible negative publicity may impede our ability to utilize offshore production capabilities.
Certain state laws restrict the transmission of personally identifiable information regarding a U.S. resident to any foreign affiliate, subcontractor
or unaffiliated third party without adequate privacy protections or without providing notice of the transmission and an opportunity to opt out.
Some of the laws require patient consent. These laws impose liability on healthcare businesses arising from the improper sharing or other misuse
of personally identifiable information. Some laws create a private civil cause of action that allow an injured party to recover damages sustained
as a result of a violation of the law. A number of states have also considered, or are in the process of considering, prohibitions or limitations on
the disclosure of medical or other information to individuals or entities located outside of the U.S. Further, as a result of concerns regarding the
possible misuse of personally identifiable information, some of our customers have contractually limited our ability to use MTs and MEs located
outside of the U.S. The effect of these laws would limit our ability to utilize our lower-cost offshore production facilities for affected customers,
which could adversely affect our operating margins."
"As business process outsourcing and “off-shoring” have grown in
recent years, concerns have also grown about the impact of these phenomena on jobs in the United States. These concerns could drive
government policy in a way which is disadvantageous to us. Further, if government regulation or market practices leads to fewer individuals
seeking medical treatment, we could experience a decline in our processing volumes."
Filing speaks of concerns of the Indian government and how it can/will affect M-Modal. Really facinating stuff. Not the usual propaganda we hear.
I am confused by the whole article. What is it's - purpose?
[ In Reply To ..]It isn't a marketing hoo-rah per their usual. It is more of a CYA report of everything that COULD go wrong and adversely affect profits? Kind of a weird position to go public with I thought.
off shore - ORMT
[ In Reply To ..]I think it is saying that the US is not too happy about off-shoring their medical records.
It's an SEC filing - anon
[ In Reply To ..]That's the governmental agency that regulates companies. They are legally required to make certain disclosures of possible complications to people who are going to buy their stock.
Probably moot point now. I thought they are now - privately owned with JP Morgan.
[ In Reply To ..]Just form filing anyway with typical CYA disclosures.
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