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

Can anyone tell me what companies have been bought out by MQ lately? - oldandtiredMT

Posted: Oct 18, 2011

I've sort of been out of the loop for a while at least as far as MQ's acquisitions are concerned. The last I heard was the Spheris takeover of MQ...oh, wait, that's supposed to be the MQ takeover of Spheris, right? Can anyone tell me what other companies have been purchased by MQ? Thanks!

Bought out by MQ - over 20 year MT vet - now Effexor investor - Thank

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I know for sure All Type and JLG (think that's the name), and more recently Etransplus....this has all been within the past 6 months. Funny -- They don't have $ for MT raises (instead decrease their pay), but have lots for buy other companies out. Nuance is doing the same thing. This industry is just a disaster right now with EMR getting going. It's sad. I feel bad for the new people training to be MTs. Little do they know, they are paying money and probably won't be able to find a job that pays above minimum wage -- unless they move to India. Unfortunately, it's the patients who will pay for it in the end. They are the ones who will have to file discrepancies because somebody transcribed something wrong, end up in a big loop sort of deal and many of them won't even mess with it, which, I'm sure is what the insurance companies are hoping for so they don't have to pay .... Thanks Obama for the total disaster and loss of more American Jobs!! -
- is all I can say.

Bought out by MQ - over 20 year MT vet - now Effexor investor - Thank - QA overachiever

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Sorry - I see typos in there now. But really, obviously they don't care about India's errors (any MME and the quality coaches can see that), so whatever.. Guess I should try more to not care so much about what I type.

India - Melimeg

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I actually work for a company in India, but I live in the USA. They hire me as a freelance editor, editing their medical articles to make them "sound more American." Thoughts?

You posted on the main board you would - never work for a company

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that outsourced its work as it is "unAmerican". Do you have schizophrenia or something?

I will try to say this as kindly as possible. I think it stinks! nm - wannie

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nm

Actually - sm

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The offshoring began in the early 2000s with the advanced telecommunications and internet technology. MT is also seeing changes due to the advancements in technology just as once switchboard operators and the typing pool lost their jobs to "progress". Luckily lab workers no longer use leeches.

Actually, the Obama administration has been trying to fund retraining programs, the Republicans answer has been to defund public education.

Actually - StPat

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Outsourcing began a lot earlier than early 2000s. When I had my own service, I started getting offers to partner with Indian and Pakistani firms in the mid-90s. Also, the keynote speaker at an AAMT seminar I attended in 1991 noted that some services were already in negotiations with India.

Exactly - Alias

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This all actually started with Ronald Reagan to be precise.

It's decades-long policies, not the sitting admin - alphamt

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MQ has been at this long before Obama thought about running. They started with a slap on the wrist for being caught in the MT earnings pool, but the so-called lawsuit got turned around to reimburse the hospitals and not the MQ employees. Politics is a facade. I have tried to talk to my so-called US Representative, but the older I get and the wiser, the more they ignore me. We need a labor shutdown, but with no union we will be really dragging bottom. MQ is well-positioned to use its tactics on the government as the new health care bill becomes more enacted and the race for EMR dominance intensifies. I hope the feds get their privacy laws REALLY teethed. We have little to no recourse with retraining or educational assistance, but MQ can do whatever it wants to its workforce! Welcome to America India. You want to be democratic - uncontrolled capitalists with artiface and greed are running our lives. The people/employees are no longer allowed to participate in the real world.

Spheris, AllType, ETransPlus - also merged with M-Modal

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They are not stopping there either.

What do you mean? Who do you think is next? - Paranoid Polly Here

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I am worried that my company is next. I work for MQ part time and ____ full time. I am so stressed over this.

Mr. Kumar... owner of CBAY - said

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They plan to buy "multiple" companies in their quest to be the biggest MT service in the world.

Mine's bigger than yours bigger? - alphamt

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Bigger does not ensure success. Instead it has its own troubling issues and can easily fall. I think the rush to buy up the competition is a BIG mistake, especially now. People are not using their insurance unless they HAVE to, and Indians do not usually have medical insurance, or is MQ changing that overseas?

IMO, any using DQS is doomed. Also any having $$$ - issues is MQ fodder. sm

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Keystrokes just seems to me to be a logical choice for Q. But I am thinking they may take a break for a bit. After all, they have 3 companies they have to incorporate into their vast empire of doom.

Why do you think Keystrokes? They are acquiring companies on their own. nm - Curious

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The one I work for and 2 others this year.

There have been posts about cash flow problems at KS. - That is usually a big SM

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reason for a company to go with a buy out. It all comes down to money.

They are not having cash-flow problems; they changed pay dates and everyone panicked. - KS and MQ MT

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They wouldn't be buying companies if they were in trouble. We were paid exactly when they said we would be; some people just did not like it.

They also decreased pay rates - Keystroker

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some time back. Was working one account that they changed to not paying for spaces.

All Keystrokes' accounts pay for spaces. nm - KS Lead MT

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xx

I would think that you want to be in good financial shape to sell to get more. - It is all about the money

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I have met the owner of KS a few times, and from what I can tell, she would not be happy with just a little bit. I think she has her sights set much higher than most others, and by getting into acquisitions, they are going to get there.

You want to LOOK financially ok, acquistions can do that, - but could still be low on cash. nm

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x

Of course, the worst is always the norm on this board. Maybe they are just doing well. - Curious2

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I, for one, really hope they don't sell and I don't think that they are. At least, there have not been any grumblings of that.

to: Curious2 - naturegal

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Well, if they are doing well, why do ya think that is -- the ones who do the work are the ones who allow them to do well -- unfortunately, they do not feel like they want to share the wealth with all, just the select few.

I only care because I like my job and do not want my work to go to India. - curious2

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I make a good living with Keystrokes and have for almost 6 years. I don't make as much as I did 6 years ago, but accounts have changed. Radiologists dictate longer and longer reports than they did back then, and Powerscribe has taken over a few of the best accounts I was on. But I do make good money still, and I don't want to lose that to India.

I work PT for MedQuist and have for over 10 years. I make a higher report rate but I don't get us much work, so my hourly rate is actually lower. I keep both jobs because I have always worked two jobs. The older I get, the less I sleep, so it works well for me. I put my MedQuist pay in a savings account for extras like presents, Christmas and vacation and use my full-time pay from Keystrokes for living expenses, school and sports costs for my kids and food. I am the sole provider as my husband has been out of work for 2 years. We are fortunate in that we still have his union insurance (he is a union electrician) even though we pay for it with some of my pay. He is getting towards the top of the list, so hopefully he will be working within the next few months. That part has been hard as we were used to his pay, really good pay, until then, but we can pay our bills and still have some left over, so we are good.

I hate to read the posts from other transcriptionists who are struggling, and this was not meant to rub it in their faces. Instead, it was meant to show that there still is work in our industry and it's not all bad. You just have to find the right fit for you. I went through quite a few companies to find the mix that works for me.

No hint at my bought out MTSO either. They were hiring right - up to the day we got the email. nm

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