A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Been reading the business perspective of what will happen when (not if - when) minimum wage is increased, and 99% of companies who employ low income workers say that will be the day they lay off most of their employees, or have to close their doors altogether. Not that I expect MModal to ever "close their doors", but that does leave open the other alternative for a huge layoff as the need to "supplement" employees who aren't earning minimum wage, or who don't meet their ridiculous demands increase.
By raising the quality standards to 97.7%, more and more of us will fall under that threshold. When we fall under that threshold, we are put on 100% QA and our wages are decreased by $0.03 cpl. When our wages are decreased by $0.03 cpl, most of us will earn below minimum wage income. When that happens, they will have to supplement us by law to bring us up to minimum wage. If they do that for enough of us, there could be a mass layoff on the horizon to balance the increased expense.
It will be interesting to see how this plays off in the transcription industry ... it could just be the final nail in the coffin.