A community of 30,000 US Transcriptionist serving Medical Transcription Industry
I'm just wondering when was the last time any of us took a moment and researched outside of this forum to get a better idea of what is happening with the MT industry?
Someone had asked last week for a listing of the largest? MTSOs. I posted regarding the KLAS MTSO study June 2008, but I wonder just how many MTs actually read it and absorbed the information that was made available to them within the free study.
There's all the commotion about Transcend taking over MDI these past few months that took quite a few by surprise, but the KLAS study dated June 2008 clearly states in a few places that Transcend acquired MDI in 2005, they only just recently merged. This strikes me as odd that no MDI MTs knew this information from 4 years ago.
Another detail I have yet to see mentioned is how Nuance is just branching out all over the place. Read the KLAS study to see just how far they have branched out. It has acquired Focus and more recently Nuance has acquired eScription in May 2008, the platform that many MT-editors rave about on the VR boards. The eScription platform is in use by a majority of MTSOs included in that same KLAS 2008 MTSO study, but it is the very last paragraph on page 22 of this KLAS study that speaks the loudest to me, further reinforcing my avoidance to seek employ with any companies that offshore work and now to further avoid any company currently using any form of eScription.
"Another factor that will affect the MTSO industry is the recent acquisition of eScription by Nuance. It will be interesting to see how other MTSOs who utilize the eScription toolkit will be affected by this acquisition since Nuance also owns Focus, and Focus is a major competitor of many MTSOs using the tool. At least seven MTSOs that KLAS is aware of currently utilize eScription."
Sample of the KLAS study can be saved using this link: http://www.klasresearch.com/inc/download_docs.asp?filename=sample_Medical_Transcription_Services_Organizations_2008_128593275303453750.pdf&filepath=samples
This link will take you to the KLAS site where you can get the link above: http://www.klasresearch.com/Klas/Site/Store/ReportDetail.aspx?ProductID=484
Maybe nothing will happen and the eScription MTSO Alliance will keep on, but my gut tells me to read between the lines and heed the warning in the KLAS' quote above and expect Nuance/Focus to branch out even further.
I have to ask this.
Why would anyone seek employ with a company who supports offshoring and/or uses a platform that is knowingly advertised to lower your earnings as an MT, make MTs produce more and eventually aid in phasing MTs right out of a job? Can someone explain this to me? See link to read quotes below for yourself: http://www.nuance.com/healthcare/products/escription.asp
" The eScription platform is deployed enterprise-wide at healthcare organizations throughout the U.S., and is proven to increase MT productivity, reduce document turnaround time, and decrease medical transcription costs"
"Decreases Costs in medical transcription by increasing the productivity of medical transcriptionists. Healthcare organizations can do more with their in-house resources, reduce or eliminate overflow outsourced work, or decrease the cost of outsourced transcription because it’s faster to edit than to type."
There was also another post on one of these boards about 'live transcription' for radiology position. Visit www.healthdatamanagement.com and read this article from September 2007, "Giving Transcription a Trim."
http://www.healthdatamanagement.com/issues/20070901/15682-1.html
Let me know if you still think 'live transcription' means the work will be performed by MTs.