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

CBay buys Spheris - SaintsFan

Posted: Feb 03, 2010

Just curious, how do you guys (and gals) feel about the fact that CBay just purchased Spheris?

Concerned - Anon

[ In Reply To ..]
The Q will be getting a bunch of "primo" accounts, but we will also be getting all their MTs. I suspect their MTs earn more than we do, and will continue to do so. If Spheris loses accounts due to the boy-out, we'll have more MTs to share in our already diminishing workload, and they will be earning more than us.

concerned - wendi970

[ In Reply To ..]
I know Spheris MTs do not make more than MQ, so that is not an issue. My opinion is that they will lose MTs precisely because of the buy-out; the MTs will be too afraid to change companies and bail. Spheris offered me a job on 2 occasions and both times they could not match what MQ was paying.

concerned - momo

[ In Reply To ..]
or think about this....we are gonna stay with Spheris hoping they will lay us off and we'll make more $$$$ that way!

yeah.. i guess spheris staff will also qualify for TAA... - sos

[ In Reply To ..]
Go figure, the government will pay for the MQ kids to be retrained and allow our work to go overseas, so why not just let MQ buy out every transcription service and the entire transcription workforce can be retrained, thus adding to more government debt.
Can anyone just feel the unemployment line getting longer as we speak?

Cbay buys Spheris - Cutbank

[ In Reply To ..]
Don't worry, Spheris has no compunctions about cutting pay. They just tell their MTs its "an opportunity to set their own pay" by increasing their productivity. When I went from around 19 bucks an hour to 2.6 cpl, I bailed.

He He - old MT

[ In Reply To ..]
I'm pretty sure it will mean we have a lot of new people on the MQ site here, saying they are getting NJA and don't make any money.

He He - Youbetcha

[ In Reply To ..]
Maybe there will be a glitch and the beloved MQ will go bankrupt.

1 +1 + zero ...sm - dem

[ In Reply To ..]
I worked several years at spheris as it got more crappy every year. finally left, bounced around to a few small crappy companies and landed at the Q for past 4 years. No surprise to any of you that this past 4 years has been a series of crappy decisions concerning us (and don't even get me started on these "so-called" AUDITS). I have been doing MT work for 30+ years and make same $$ today as when I started.

sorry to be so negative but at this point I guess my feeling is the two giant crap companies have merged and leaves us MTs in one HUGE crap pile. This industry is dead as far as I'm concerned (unless, of course, you live in India). :-(

1 + 1 + zero - MT at MQ

[ In Reply To ..]
If you're making what you were making 4 years ago, you're doing better than I am.

1 + 1 + 0 = 1.9 Million - EZ math

[ In Reply To ..]
The CEO of CBAY is listed with a base salary (in US dollars) of 1.9 million.

Makes me want to type faster.

Fer shur!!

yeah, meant 1 + 1 = zero for US (sm) - dem

[ In Reply To ..]
nauseating ... and that 1.9 million is right out of all of OUR pockets. thieves !

CEO of MQ made - and this was in 2008

[ In Reply To ..]
Howard S. Hoffmann
Chief Executive Officer
MedQuist Inc.
Healthcare Services

In 2008, Howard S. Hoffmann raked in $903,339 in total compensation.*

That is like a slap in the face. - Honestly.

[ In Reply To ..]
We are counting our pennies, no raises, constant threat of job loss to India, and they all live high on hog while we do the sweat work.

Great.

Honestly! - I thought I wrote your post.

[ In Reply To ..]
I thought I wrote what you posted, word for word! I completely agree with you. There are like 18 some board members and the lowest one makes 250,000 and that does not include bonuses.

GOSH THERE HAS GOT TO BE SOMETHING THAT WE CAN DO!!!!

I called my state representative and supposedly a group of MQ workers went to his office and told him what was going on. It seems everyone knows about us MT's. I even told my doctors and they said it is horrible what is happening to us MT's, but yet NOTHING IS BEING DONE TO HELP US!

The only thing I am seeing is that the hospitals and doctors feel bad for us MT's and what they are doing is getting away from MTSO companies and going with EPIC where the doctors are their own transcriptionists and type everything in a computer while they are visiting/examining the patient.

Honestly! - momo

[ In Reply To ..]
one word - UNION!

Tried that. Willing to do it again, but - others on here say no. Afraid it is our only opti

[ In Reply To ..]
It got so exciting last time starting a union that we even had the big wigs on this board and some Indians!

MEDQUIST IS AFRAID OF UNION!!!!

Union - momo

[ In Reply To ..]
Most large, greedy companies are...thus the need for a UNION!! I am fairly new to this board but after being in this industry for over 15 years....and reading the same stories over and over, I see that we all have the same issues! STOP THE MADNESS! We hope and pray for "karma" but that is NOT the answer here. We can sit here on our laptops or whatever, but "how's that workin' for ya???" We should have formed a UNION years ago but we never thought we'd need it....well????

You want to start? - I am right behind ya!

[ In Reply To ..]
Our only option, now that MQ is one big giant blankety blank company.

Union - momo

[ In Reply To ..]
Yes I do! How many on this site would actually vote for 1? I mean, if it's good for FEdX, UPS, Teachers, Autoworkers, etc., don't we deserve the same respect/empowerment over our wages/hours/benefits? I'm very serious about this...NOW is the time!!! I realize that MQ is huge, but it's only getting bigger by the day...other companies are just as big and just as intimidating.....Let's Roll! No more sweatshop jobs for us!! (No, I was never a cheerleader!)

Union won't work - Anon

[ In Reply To ..]
We've talked about this before. Our best option would be to join an already existing union. This wil: (1) Cost $$ for a union organizer and lawyers, and (2) Only a small number of MTs read the MT Stars board. We work in isolation, so how would you get the word out?

Plus we'd all have to pay annual union dues!

Something has to be done, already - existing union sm

[ In Reply To ..]
or separate union. I just wonder how many MTs who don't read this board would be willing to get involved. They must have the same problems we all have. I feel so helpless and I just hate that. I hate feeling so insecure every day, wondering what is going to happen next, and having no control over it. I absolutely hate the "formula" of required production, benefits taken away, NJA, and I guess they want 24/7 workers. I know this is illegal. Someone said on another forum that if we had union, all the work would then be sent to India. I don't believe this to be true.

How would you get a complete employee list with - email addys and phone numbers.

[ In Reply To ..]
Just that feat would require nothing short of magic.

Because we would not only have to get MQ MTs on board but all other MTs with all the other American MTSOs (what is left of them) that are sick of being wrung out.

And that would be the first BIG step.

Just getting over THAT hurdle, kind of makes all the other hurdles obsolete.

We are all just so scattered.

Even long ago, when time was on our side, I just don't know how one would go about getting it done. Unless you had access to millions of dollars for a media campaign (TV, radio, internet), I just don't know how we would reach EVERYONE that would need to be reached.

Not to mention the tons of money you would need just to retain legal representation to get the ball rolling.

It is like trying to find one particular grain of sand that is in a beach somewhere on the east or west coastline.

Good luck.

I have a list of names, about 100 of them - sent by accident.

[ In Reply To ..]
At list of everyone's name was on an email that was sent to all of us MT's by accident.

Also Facebook has their own website for Medquist and other transcription companies.

Union - momo

[ In Reply To ..]
Read about IBM trying to form a union...it didn't work...they just keep sending more work overseas and laying off more U.S. workers! That's how it works! I give up....I'll hang on at Spheris until I find something else (in another field) and I will have nothing else to do with this industry. Good luck to all!

Read and weap! Here are what the OTHERS - brought home for 2010.

good point - dem

[ In Reply To ..]
makes me so sad (for ALL of us). What are we to do? Everyone says "be thankful you have a job" and I know they are right in the current economy ... but honestly from day to day I don't know how much more I can take. We all deserve so much more (just some respect and FAIRNESS would go a long way).

rate of pay - becky ross

[ In Reply To ..]
Bet their qa folks will still be paid hourly.....if they are that will totally bite.

QA pay - anon

[ In Reply To ..]
They'll probably be paid hourly for a while but they'll be transitioned into the MQ/Cbay way before long. I'm sure they'll be handled the same way the rest of us were when we were "merged" with the Q. It ain't gonna be pretty for them either.

You got that right. CB eliminated hourly rate - jobs at MQ . . .

[ In Reply To ..]
For the masses, that is, MT, ME, MME.

They better enjoy their hourly rate while it lasts, and that won't be long.

CBay didn't do that. MQ did that. CBay - ex-cbayer

[ In Reply To ..]
still paid QAs hourly up to the end. I worked for CBay and MQ, and CBay was by far the better company to work for. Too bad they laid everyone off & sent all the work to India...

Not sure what Spheris board of directors making, but - here is what MQ is for 2010.

[ In Reply To ..]
http://finance.aol.com/company/medquist-inc/medq/nas/key-executives

THIS YEAR FOLKS!! GEE! THEY EVEN GET COMPENSATION!!! HERE IS JUST ONE EXAMPLE!!!

Board Membership/Committee Assignments
Committee Name Role

Compensation: $ 406,168.00
View Full Profile

Salary
$248,400.00
Bonus
$155,926.00
Total Cash Compensation
$404,326.00
Other Annual Compensation

Total Annual Compensation
$404,326.00
Long Term Incentive Plan
All Others
$1,842.00
Total Compensation:
$406,168.00

MAKES ME SICK TO MY STOMACH!! WE DO NOT GET YEARLY RAISES, TREAT US LIKE CRAP, TAKE AWAY OUR PAY, NO JOBS AVAILABLE AND THEN MAKE US TAKE PTO FOR IT IF WE ARE FORTUNATE TO HAVE ANY LEFT WHICH MEANS NO VACATIONS, AND TAKE AWAY OUR FULL TIME STATUS BECAUSE WE DID NOT MEET OUR HOURS TO KEEP FULL TIME STATUS AND TOOK AWAY OUR HEALTH CARE BECAUSE OF IT AND I COULD GO ON AND ON. I AM TICKED OFF!!!!!!!

I HAVE TO FACE IT, I WORK IN A SWEAT SHOP.

Now with MQ/CBAY/SPHERIS one big happy family which means the largest ever MTSO, LOOK OUT ALL YOU OTHER MT'S, we get treated like crap, then other MTSO companies will follow.

You have to open the website given - It is mind boggling!

[ In Reply To ..]
406,000 is nothing. Just add all the others to the list of how much they make and that is OUR MONEY from not getting raises or taking our cut in ASR.

CBay Buyout - Go-at-it

[ In Reply To ..]
I am about 14 hours late in finding out the news, but I would just guess that this could be the best thing that has happened for US in a long, long time! I am very positive about this MQ acquisition!

How do you figure that? - ??

[ In Reply To ..]
/

the only - thing

[ In Reply To ..]
good I see about this is the potential for the stock to go up, up, up. May make more $ in the stock market than I do typing. lol

Similar Messages:

Apr 15, 2010

Having paid too much you can be assured their will be layoffs a plenty in about 6 mos time. ...

Apr 15, 2010

http://nashville.bizjournals.com/nashville/stories/2010/04/12/daily31.html MedQuist Inc. and its majority shareholder, CBay Inc., will buy Franklin-based Spheris Inc. for $116.3 million — $48 million more than the companies originally offered for the bankrupt medical transcription company and its India subsidiary. A Delaware bankruptcy judge signed off on the sale today following an all-night auction of Spheris’ assets that concluded at 6 a.m. The price includes $98 ...

Feb 03, 2010

x ...

Oct 21, 2010

Spheris parent — now HQed in Franklin — files for IPO By Erin Lawley Posted on October 20, 2010 at 8:17 am Middle Tennessee soon will have another locally based public company — though its “localness” may come as a surprise. CBaySystems Holdings — whose MedQuist subsidiary purchased Franklin-based Spheris out of bankruptcy for $116 million earlier this year — has filed for a $115 million initial public offering and listed Spheris’ Carothers Par ...

Apr 01, 2010

$75 million Spheris sale to CBay hits roadblockBy Kumar Shankar Roy Mar 25 2010 , Kolkata CBay Group's chief executive Raman Kumar's $75 million attempt to buy key business of bankrupt medical technology US firm Spheris may get stuck with Larry Ellison-led Oracle, globally the second biggest software maker, voicing its displeasure over the deal. http://www.mydigitalfc.com/companies/75-million-spheris-sale-cbay-hits-roadblock-650 ...

May 04, 2010

Came across this information, from a reliable source (who prefers to remain anonymous.)We report, you decide. - - - - - - - - - - A leading United States-based healthcare BPO services vendor CBay Systems Ltd. plans to transfer nearly 50 per cent of its work to India during the next two years with a view to develop into a $1-billion company. Presently, CBay Systems provides its facilities to almost 40 per cent of the hospital market in the United States covering over 2,400 hospitals, clinics as ...

Apr 13, 2010

HOT OFF THE PRESS SEE BELOW Transcend Submits Bid to Acquire Spheris ATLANTA, Apr 09, 2010 (BUSINESS WIRE) -- TRANSCEND SERVICES, INC. /quotes/comstock/15*!trcr/quotes/nls/trcr (TRCR 17.43, +0.13, +0.75%) , the third largest provider of medical transcription services to the U.S. healthcare market, announced today that it has submitted a bid to acquire substantially all of the assets of Nashville, Tennessee-based Spheris, Inc. and the stock of ...

Sep 16, 2011

I wonder how that's going over down there? I can only surmise. ...

Jul 11, 2011

for the worse, if that's possible! Anyone who thought they'd conquer VR and make money, MQ just shot you in the foot. ...

Sep 16, 2011

"Chewed up and spat out" might be a better description. ...

Mar 16, 2012

My company was just bought last month, and suddenly all the higher ups are "resigning". I would think they would have done that before accepting the new position, not after jumping through all the hoops and piles of paperwork to get hired, the miserable process of training on 10 different website logins, etc. None of them will admit it, but it sure seems like MQ is firing off everyone who doesn't make them money. Is this the normal process? ...

Sep 20, 2011

http://www.cnbc.com/id/44588832 ...

Aug 08, 2010

Focus is an offshore company. Another good company down the tubes. ...

Oct 10, 2010

I am guessing with the low quality I see that 10:1 they let a plethora of MTs go right AFTER acquiring an MT SCHOOL so that they could have the students do the work as required work for th program and not pay them. Some of the reports I see look like they were done by a 7-year-old or someone for whom English is a second language. ...

Feb 24, 2011

It seems that Medquist is still hiring US MTs. They have an ad in MT daily. I don't see why CBay can't keep us on along with the Indian MTs. ...

Jan 25, 2012

Wonder if we'll now see the American coding jobs go "global" like our MT jobs did. Also wonder if the CCMs and higher management will change. ...

Jul 22, 2010

I just got through reading the website of CBay in its entirety to get more insight into their company. They appear to be a giant in the field, own almost everything that has to do with medical transcription or the likes thereof. I clicked on the Executive Bios section and got to read about each executive's background, etc. What I saw and read were numerous CBay individuals (all men I might add) with many years' worth of previous employment by well known companies, som ...

Jul 29, 2010

CBAY could get rid of a lot of board of directors. Does CBAY have any idea how much money it could save them? In fact, why we are at it, get rid of the United States board of directors and bring in their own India board of directors. They could probably pay their suits half or even less than it would cost for United States board of directors. Plus! Would not have to pay incentives, benefits, bonuses, gas for their cars, credit expenses for lunches and golfing, e ...

Mar 26, 2011

Why dont ya just open up all the regions into one clump and let us have a giant cesspool? Then every report that pops up will get assigned out immediately and there will be instant TAT! If you do it quick enough, you can beat all the other MTSOs to it and be the leader of the pack! I mean, seriously, jumping from the 15 to 20 now is such a piece of cake, and you really dont want me thinking I have the upper hand here, do you? ...

Feb 18, 2011

Speaking of changes. Ba-Ba-Big Ch-Ch-Changes are coming. CBay is trying to buy 100% of MQ. Check out article at: http://investing.businessweek.com/research/stocks/news/news.asp?ticker=MEDQ:US Other articles of interest there also. Basically reads: Management Led Buyout of MedQuist Causes Shareholder Claim Investigation by Goldfarb Branham Law Firm LLP DALLAS--(BUSINESS WIRE)--Feb. 7, 2011-- Goldfarb Branham LLP is investigating whether the Board of Directors of Medqui ...

May 11, 2012

I was one of 30 people fired in a conference call from CBay back in December, 2007. Was applying to M*Modal and looked up CBay's location and it says that CBay is now M*Modal??????? (Can anybody verify this?) Also, do they pay hourly or per line? ...

Apr 04, 2013

We had layoffs in groups about every 6 months to a year, until finally the last batch was laid off and ALL the work was sent to India. Everyone kept saying it could never happen, but it did. They chose profits over quality. I wish the doctors, hospitals, and patients would wake up! ...

Mar 02, 2010

I remember when the layoffs happened and then feared the worst when Cbay bought us last year. My question is this: What was the layoff package? Severence? How long did it last and what did it include? Thanks in advance. ...

Jul 15, 2010

http://ahdilounge.blogspot.com/2010/04/medical-transcription-heavyweight-cbay.html CBAY SENDING MORE THAN EVER TO INDIA ...

Jun 24, 2011

nm ...

Apr 23, 2011

If you can't hear parts of the dictation, leave a QA marker. It looks really bad when the client is on 100% for ILPs and all you did was copy and paste an old progress note with a few changes to the impression and plan. Seriously?! Did you listen to any of the dictation? Cuz it didn't come close to matching up. Sure, the dictator was difficult and hard to hear, but I could hear enough to know that what the ILP typed didn't even come close to what was said, ...

Dec 02, 2011

Happened to read the following in Cbay's facebook page. Hope I don't lose my account.....this time... http://www.facebook.com/CBaySytems?sk=wall CBaySystems' Coimbatore office will embark on a recruitment drive to appoint MTs, QAs (office based) and HBTs. They will be looking for talents from Trivandrum, Kochi and Chennai. The recruitment drive will be held on the 27th and 28th November in the following hotels. Trivandrum - Hotel Horizon, Kochi - Hotel Presidency, ...

Jan 18, 2010

Does anyone have an article that I think was posted here awhile ago about CBay's plans for cutting US MTs? It might have been an Indian article. Somehow the numbers 10,000 then down to 3,000 seem familiar, but I'd appreciate a link if anyone knows where to find this info. Thanks. ...

Feb 07, 2010

Not quite a done deal, but CBay thinks it is. Wonder where Kumar got $75 million!!!! We earned it for him. http://www.bloombergutv.com/industry-news/pharma-biotech-industry-news/44368/consolidation-on-cards--cbay.html ...

Jan 12, 2011

http://forum.mtstars.com/182178.html http://www.faqs.org/sec-filings/091210/MEDQUIST-INC_10-Q.A/w76567exv10w1.htm#ixzz0cEztUgGN Section 2.2 Order Form. Within fifteen (15) days of the Effective Date of this Agreement, and not less than once per quarter thereafter, Company shall propose to Supplier the projected volume in hours of dictation per Business Day Equivalent by issuing an Order Form to Supplier in the form attached hereto as Exhibit 5. Such order will include the ...