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Imedx/TT: Baffled and trying - to make sense of it all
Posted: Dec 21, 2014
I know they have acquired many small to mid-size companies over the past couple of years. I know they have a lot of staff in India and second headquarters there. Aside from that I don't know much except my own personal experience with them over the past 9 months.
Their decisions don't seem to make any sense to me. I won't rehash all of those now because we all know what they are. On top of the bad decisions, what I can't figure out is what is their interest in buying TransTech? It is supposedly their "operations" hub now or something to that effect. I have heard this word mentioned several times and now our supervisors are called "operations managers" instead of account managers. I don't believe they wanted TT for their MTs. They have much cheaper labor they can use in India if they can convince all the TT accounts that is the way to go instead of having the work done by US MTs, thus saving them money (I also have a hard time believing ALL the TT accounts will go for this as having the work done in the US was a part of their original contracts). So the logical conclusion is they wanted TransTech for their accounts. Transtech has some very well established accounts with happy MTs and happy clients. I am a very long-timer at Transtech, and I have been on both my primary account and secondary account my entire time with them. These clients are happy because we do a good job in a timely fashion.
I have now come to the conclusion that Imedx wasn't even interested in TransTech to acquire their accounts as multiple accounts are now in really bad shape, out of TAT, higher backlog than they have EVER had because of the deicisions Imedx has made in forced PTO and probably losing a few employees and I would also guess low morale affecting production (I know my personal production is down because of this).
My question of the day: What is Imedx's interest in aquiring Transtech? I think there is something in this picture we are missing. I don't think they want us or the accounts. And what does "operations" exactly mean? Anyone know the answer?
What they wanted... - sm
[ In Reply To ..]was to get the good companies with good accounts out of the way? So, buy TT, who had good solid accounts in good standing, and do away with the possibility that those clients would have TT to man those accounts? But, someone has to do the work. If TT is no longer in existence, then Imedx has a better shot at keeping those accounts as TT is no longer the top of the line go-to company. As matter of fact, thanks to Imedx, it doesn't exist at all. I also do not know that any of those clients even care that the work was kept in the US. I think very few care or had that written in any contract. Obviously an important selling point for us MTs, but I dont think so to clients. So..."we need TT out of the mix, so let's buy them and disband the whole lot." One more competitor off the docket.
NEXT!
I am not following this at all. - Off day for me? Makes no sense. Sorry.
[ In Reply To ..]They want it or they don't want it?
They want to get rid of the - Competition
[ In Reply To ..]They dont care what happens to accounts right now, with us out of the picture they can continue to offshore more and more work
Okay, I see. How long a process would you say this might be? - Guess.
[ In Reply To ..]nm
Hard to say, I think, and this is - Just my opinion
[ In Reply To ..]They made some kind of agreement with TT to keep us for some unknown period of time, my GUESS is probably a year, but i do not really know, could be longer. We are, what? 9 months in now and as the time passes more and more of Tt is disappearing, communication is pretty much nonexistent. I may be wrong, in fact I hope i AM wrong, all we can do is get out or eait and see.
*that was wait and see - not eait, sorry - nm
[ In Reply To ..].
Good grief. Has it been 9 months already? - Wow.
[ In Reply To ..]nm
So are you saying that they DO want to keep the accounts? - Confused.
[ In Reply To ..]They are getting far behind.
What they wanted... - anonMT
[ In Reply To ..]They have also set up a perfect scenario of placing blame on the managers, supervisors, leads, whatever you want to call them by not holding up their end of the job by keeping the accounts in TAT and have a clean reason to replace them. They can also go the clients and say the former TT staff can't seem to keep up with TAT and present them with their "wonderful" Indian workforce that can meet and exceed the desired TAT. They have the client right where they want them as it takes a lot of time to find a new company to take over the account, but if they have this Indian workforce who can step right in the client may just take them up on it. Don't forget it is former Medquist, CBay, MModal, maybe even Nuance executives who are running this place and you can't put anything past them to and their greed.
New titles sound Nuance-like. nm - acute MLS
[ In Reply To ..]nm
I'm a long timer too. Thought sure I would retire - from there. HA.
[ In Reply To ..]nm
Another long timer here.... - Nunya
[ In Reply To ..]Maybe if we were still back in 1990s we could have retired by now. I remember MedQuist just throwing those bonuses out there every weekend and several different types of bonuses. It got so bad at one point I didn't take a day off for almost a year. I was very money motivated at the time and I could knock about 4000 a month. I would kill to go back that time.
About India - SM
[ In Reply To ..]The hospital I worked for said over and over for years that they would never outsource to India. They lied. When we were finally taken over by Nuance (after another takeover prior to that!) everyone was appalled that the work was being done in India and assumed this was a gross violation of the "contract." Little did we know, Nuance somehow put gravy on it and convinced the powers that be it would be a wonderful decision. Plus you put a little money in their pockets for THEIR bonuses and there you go. Maybe this has nothing to do with Nuance and I included their name here where it wasn't necessary, but I believe that all companies will follow suit eventually and use India just like Nuance did.
I dont know about the rest of yall, but India is tearing my work to shreds...... - Nunya
[ In Reply To ..]This leads me to a question. Who do you think is harder when it comes quality and proofing your work, India or the US? I am on an account and the only feedback I get is from the Indians and I am dumfounded when I see the feedback. What do yall think?
Trying to make sense of it all? - Why?
[ In Reply To ..]If you were not consulted regarding the acquisition, what is there to make sense of? The company was sold, everything changes, accept it or not, be ready for a layoff and if none is in the works for awhile, be thankful. TransTech is not the only company that sold out, that is now the nature of the beast. The holidays are here rather than be negative and debbie downer, enjoy what you do have and who you have and put your energies into your kids, family or significant other, it has all been beyond your control and nothing is going to change it.
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