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

Here's why our pay has decreased so drastically. - $1.9 million!

Posted: Sep 29, 2010

I originally posted this as a reply to another poster, but wanted to re-post it so that everyone could see and understand why our pay has decreased so drastically the past year. This is an excerpt from notes to financial statements in MQ SEC filing obtained from www.faqs.org:

"Cost of revenues decreased $4.0 million, or 7.5% to $49.8 million for the three months ended March 31, 2010 compared with $53.9 million for the three months ended March 31, 2009. This decrease was attributable primarily to:

•

reduced transcription costs of $1.9 million related to our increased use of speech recognition technology, which reduces the payroll costs associated with the production of revenues and an increase in the use of outsourced medical transcription volumes to our international labor partners;"

I didn't see where MQ revenues decreased, rather they just cut MT salaries by $1.9 million through various means. Wonder where that $1.9 million (or to whom) went?

How about this BIG white lie of rationale justifying Offshoring - Logic of white lies = $

[ In Reply To ..]
A shortage of qualified domestic medical transcriptionists (MTs) and medical editors (MEs) has increased the demand for offshore medical transcription services by healthcare providers

Read more: http://www.faqs.org/sec-filings/100510/MEDQUIST-INC_10-Q/#103#ixzz10wm5P7z9

The CEO - Angela

[ In Reply To ..]
makes 1.2 million a year.

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