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

Going through bankruptcy but advertising for new MTs? - BH

Posted: Mar 10, 2014

Just got an e-mail from Glassdoor about "new jobs for medical transcription" and the first one in the list is M-Modal for acute care MT 3 days ago. How could they do this if they have filed for bankruptcy? Or is this just an automated posting for new MTs?

Advertising - No work

[ In Reply To ..]
How can they advertise when there isn't enough work to provide to the MTs they have now? I just wonder sometimes, if those places just run the ads regardless. Just to make it look like they have jobs to offer????? Who knows, but even it MM wasn't going through all of this mess, don't apply, beware, stay clear, run and don't look back. I hope they do go under and for the reason that no one will work for them!

It's how this company rolls ... - Anonymous

[ In Reply To ..]
A few months ago when they had a mass layoff in the midst of booting MTs out the front door they were bringing them in the back one by running "now hiring" ads all over the place the very same day. Oh and they don't even try to hide it or downplay it, they do it in the wide open air for all to see. They honestly do not care one bit for the employees.

Maybe their purpose in hiring new people is in the hopes of finding someone who hasn't heard about their bankruptcy and how they are asking for legal permission to bilk their creditors out of millions of dollars ... again.

I saw that too - just saying

[ In Reply To ..]
What debtor in their right mind would take company stock in a failing company instead of getting paid the money they are owed? I am just afraid that we will soon be on that list. Hey employees how about we pay you in company stock this week instead of your paycheck?

They won't ... they're not as stupid as MModal execs think they are - anon2

[ In Reply To ..]
And don't think they won't make that offer with our pay - they've been known to do that in the past, only with AAMT!

"Instead of paying you what we owe, we've decided instead to give you an AAMT membership. Aren't you excited!!"

There is no creditor on EARTH that is going to take stocks over payment. NONE.

This may be a dumb question, but how does this work? - sm - Tink

[ In Reply To ..]
I'm sorry if this seems like an ignorant question. If they are "restructuring" and all that, what does that mean as far as our jobs go? Are we to expect a bunch more layoffs soon?

My question is how do they restructure... - poorhouse

[ In Reply To ..]
$750 MILLION in debt? Is it even worth trying to save? I saw someone mention they might try pushing their coding operation more...I could see that happening with ICD-10 on the horizon. How embarrassing it must've been for the head honchos to be at HIMSS14 last week with this hanging over their heads! And I'm sure this "restructuring" business was already being whispered about among the other company head honchos.

Restructuring ... - anon

[ In Reply To ..]
Instead of paying their debts, their plan is to ask their creditors to take stocks in MModal instead. I think it's hilarious that they think their stock is worth $750 million.

I'm not kidding ... listen, no one could make up this kind of craziness.

In browsing headlines on the net, I actually saw - sm - Tink

[ In Reply To ..]
where back in January there were several news articles on MM hiring people to come in and look at restructuring, so this has been in the works for a while.

If we're just now finding out about it, then... - poorhouse

[ In Reply To ..]
They have a plan in place already. Why would anyone want to invest in this dying company? Definite insanity. Like a poster said before, I'll transcribe these reports to the best of my ability, but they can take their 99.6% or 99.7% or what the he!! ever and shove it straight where the sun don't shine.

Do you think this had anything to do - sm - Tink

[ In Reply To ..]
with how they redid the benefits package and hours last fall, like getting rid of PT PTO, etc.?

Your thinking error is that corporate bankruptucy - has the same stigma

[ In Reply To ..]
Look at Donald Trump, he has taken 3 or 4 businesses into bankruptcy and people still think he is some kind of financial genius.

Corporate "restructuring" happens all the time. I, for one, am hoping it works.

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