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

JLG acquired by MedQuist - just got the email

Posted: Sep 16, 2011

Thoughts?

Six of one or half-dozen of the other. nm - mt

what on earth... - wow

[ In Reply To ..]
So, cut all of the employees pay, buy up every company in sight, and send it all to India.

There ya go.

i'm hoping it's a positive move. I would love to get direct deposit - and better insurance

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here's to hoping!

Hoping it's a positive move - BTDT

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My friend, you have MUCH MORE to worry about with the Q than getting direct deposit or better insurance. What a joke. You might read what former MQers say about these people. I would be revising my resume if the company I worked for got acquired by MQ.

Better insurance from MQ..Not - ee

[ In Reply To ..]
MQ has only 1 insurance: Health savings account. For 1 person it is approximately 70 dollars/pay period. They put 500 dollars in your account and that is it for the year, the rest you have to pay. You can contribute to the health savings plan per pay period pre-tax, however, with what MQ pays its employees, there is not much left over to put into the HSA. They do give you once yearly a free physical, Pap smear, mammogram.

EXACTLY! - sickandtired

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nm

Buy em up, ship it out to India! - sickandtired

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nm

That must be how the Q manages to have the kind - of money to buy so many companies.

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x

still in shock - Cristina

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I'm just here sitting, thinking, here I go again. I started working with JLG precisely because my department got outsourced and NOW here I go again, and I have NEVER EVER heard anything good about Medquist, I have avoided them like the plague. OH MY MY!

I wonder how long this has to go on with MQ before - our govt. realizes its becoming a MONOPOLY?

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This company obviously has set its sights on buying out every last competitor, until it's the ONLY transcription company left.

The definition of a monopoly is one company controls all with no competition. - Not a monopoly

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Even if it comes down to MQ, Nuance and Transcend or even MQ and Nuance, it's not a monopoly because there is more than one transcription option available. Also, there will always be ICs who provide for one account or even one doctor, so they will not be able to declare a monopoly and step in. Sad but true.

I think that's what the Q is aiming for. Surely - someday it will gobble up Transcend, too. nm

[ In Reply To ..]
nm

But now that it owns M*Modal, Nuance and MQ will be the two left standing. nm - Freaking Out

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xx

JLG buy out - Noneya

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Friday is my day off so I don't usually boot up but this morning I did and wow! I had a feeling something was up. No response or nasty response from upper mgmt at JLG. My guess is that they knew it was coming. I quit MQ because I disagree with alot they do in general...now what?

Busy month for the squid... - nauseous

[ In Reply To ..]
Yep...got that E-mail first thing this morning as well. I will not be attending the conference call as I don't want to hear the lies that will be told...I won't be able to hold my tongue. I am going to ride this out until the tentacles are fully wrapped around and hopefully by then I'll have another job. September has been a busy month for the Squid...they bought All Type September 1. I worked for the Squid a long time ago (by getting sucked up from another company) AND was involved in the class action suit that got us absolutely nothing. Why would I want to work for them now?

Squid is perfect name for MQ and they will wrap - sickandtired

[ In Reply To ..]
their tentacles around everyone's neck as soon as they get a chance. Worked there myself for a long time and thought I was FINALLY rid of them, but NO-they bought out my company too! You will hear, "nothing is going to change", NOT TRUE with the Q, something is always changing and you will become fearful of opening your emails each day. You may have some time to find something else, although with the squid goggling everything up, everyone is scambling to get what jobs there are, so doubt it! WHATEVER-I am so sick of this business and just waiting to be able to retire to never hear of it again! Too late to start a new career! TENTACLES SECURELY ATTACHED!

The Squid - MQ victim

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There is NOTHING good to come from this. You will get ******* without even a kiss. I know. It happened to me. Nothing good will happen. They nearly drove me to bankruptcy.

They DID drive me to bankruptcy :( - formerMQ

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They better not buy my CURRENT company or I'll be really mad!

Former MQ - MQ victim

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I was narrowly able to avoid bankruptcy, but came mighty close. I am very sorry for your misfortune. I once read a post by a woman who said she was homeless due to the Q. This was several years ago. I hope that everyone "acquired" by these folks (SHARK is a better name for them than SQUID) will watch their backs. And as far as their acquiring so much--when are the anti-trust laws going to kick in?

Just shoot me! - MQbound

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nm

No, someone needs to shoot THEM! - :(

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x x
___

Anyone at the meeting today? - Worried

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Would like to know what they had to say. Tried to join but it was already full. I'm sure it is only lies but would like to know anyway.

JLG/MQ tele conference today - Noneya

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I was there on the phone. They made it sound like everything was going to be just dandy. A lot of side-stepping and smoothing over if ya know what I mean. A few highlights though, you start from day 1 with MQ as far as leave time and BENEFITS. You have to wait the 3 months no matter how long you have worked for JLG, it just doesn't matter anymore. Oh yes, and the pay, "of course companies are trying to make cuts in what they pay" so, you know where that leaves us.

Same old thing - Worried

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Of course there will be pay cuts, benefit cuts, everything cut! That's the way it happened at the other company I worked for and it was bought out by Accretive. Nothing good in the future that's for sure.

The way I see it... - KSmt

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I'm just thankful the Squid has not bought Keystrokes as of yet. I realize that day may be coming or it may not, but for today, it has not happened. I'm grateful for that.

I sure hope the Squid isn't eyeing Acusis! - NM

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Sure, the Squid is eyeing Acusis - anon

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It is eyeing everybody. It is only a matter of time.

Youre probably right.......... now Im gonna worry. - No sleep for me tonight!

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They are one of the few bigger ones left. I'm sure it will be either MQ or Nuance. sm - Hopeful MT

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Then again, contrary to the negative posts on here recently, I think they have higher standards than MQ and Nuance, especially when it comes to offshore. Maybe they'll continue to grow in that area and get all the U.S. work. I sure hope so because I don't want to work for MQ again.

I also hope that the fact that they have acquired 3 companies themselves is a good sign. I heard, although it is just a rumor, that they are buying 2 more in the next month or so.

Where in the H**L are they getting all this money? - (That much $ is rarely gotten legally, BTW).

[ In Reply To ..]
?!?!

I'm sure that they are all financing the acquisitions. When I sold my company, sm - Ex-MTSO

[ In Reply To ..]
it was done on a percentage of the gross revenues for a period of 24 months, sort of just a huge commission (50%). That allowed the company that purchased mine to not take out a huge loan and to pay over time. It worked out well for both of us. I put the money into my retirement and started working for a company that is discussed here often. I wanted to just transcribe and not deal with customers, employees, taxes, banks, invoicing, overhead, etc. I am MUCH happier now!

Why, they are getting all this money - Nick

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from cheating all their MTs! Read the MT lawsuit of a few years ago.

NO buy-out ever works out well for the "bought" - MTs, but to be bought by MQ is - sm

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probably a worst-case scenario.

You have my sympathy!

:(

The ONE good thing about MedQuist. - formerMQ

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They ALWAYS pay on time :)

Little consolation when one factors in how SMALL - everyones paychecks have become!

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"The Incredible Shrinking Wage".

my thoughts - sm

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Sometimes I think when a big company acquires a smaller one, things may go okay for at least awhile, even if it is MQ. The first few years I worked for MQ it was a good gig, but they became so ill-managed and communication became lousy, and stress levels kept going up and benefits doing down, until after 7 yr I left them. It's not likely to be better now. I would certainly suggest that you get a plan B up and going, at the very least try to pick up a part-time second job so if things don't go well, you are not hung out to dry. I am speaking as an MT with almost 40 yr experience. If you like what a big company has to offer, Transcend is run much much better.

I went through that with 2 different co's. Things - were quiet for about 9 months. -sm

[ In Reply To ..]
Then, one by one, things started changing in such a way that it got harder and harder to make anywhere near what we'd been earning with the old company. First, changing from the old company's simple, easy, workhorse software to the new company's maze of hoops that had to be jumped through, just to start that sucker up in the morning. Actually transcribing on it was, and still is, a nightmare.

Our pay kept shrinking, bit by bit. All the good dictators went straight to India, leaving us the ESL mushmouths. With each new software "upgrade", things that we used to get paid for (headers, footers, spaces, etc.) started becoming freebies. Then, when those wage cuts still werent enough for them, they simply slashed our cpl pay.

Then they put everything that wasn't done in India on VR, and of course cut pay some more for that. Meanwhile, we keep getting more money taken out of their pay for their crappy insurance. I had to go to an ER a year ago, and they never even paid. So that poor hospital got the shaft, and had to write my treatment off. They tried billing me, but I could barely afford the stamp it took to mail them a letter and tell them I didn't have the money. We still have health insurance, but I for one have stopped going to doctors except in an emergency, because I can't even afford to pay the copayments.

We used to have really good team leaders, now they've all been replaced by brainwashed members of the Big Company. The only good thing there is they don't communicate much, which leaves us more time to work. Which is good, because with their "newer, faster, more productive" software, it now takes 11-12 hrs. to do 8 hrs' worth of work.

Like the Q, this place keeps on hiring, even when the rest of us are sitting here with no work.

this sounds like my experience with JLG - good riddance, excited to be with the Q

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x

Not happy - SassyMT

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When the email came, I was sure they were announcing direct deposit. Ha! Wrong. I doubt that it will turn out well for the acquired MTs at all so I guess I should get my ducks in a row and wait for the squeeze.

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