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


Our latest 10-K from Medquist. How to - manage us MTs and reduce MTs.


Posted: Aug 23, 2010

http://webcache.googleusercontent.com/search?q=cache:wHn1Chp6DzYJ:www.faqs.org/sec-filings/100312/MEDQUIST-INC_10-K/+medquist+restructure&cd=6&hl=en&ct=clnk&gl=us&client=firefox-a
Our ability to expand our business and properly service our customers depends on our ability to effectively manage our domestic production capacity and our only offshore transcription labor partner (CBay Systems & Services, Inc.), including our ability to recruit, train and retain qualified MTs and MEs and maintain high standards of quality service in our operations, which we may not be able to do.
     Our success depends, in part, upon our ability to effectively manage our domestic production capacity including our ability to attract and retain qualified MTs and MEs who can provide accurate medical transcription. There is currently a shortage of qualified MTs and MEs in the U.S., and an increasing need for more real-time turnaround of transcribed reports has created industry-wide demand for quality MTs and MEs. As a result, competition for skilled MTs and MEs is intense. We have active programs in place to attract domestic MTs and MEs. We must also effectively manage our only current offshore transcription labor partner, CBay Systems & Services, Inc.. However, this strategy may not alleviate any issues caused by the shortage. Because medical transcription is a skilled position in which experience is valuable, we require that our MTs and MEs have substantial experience or receive substantial training before being hired. Competition may force us to increase the compensation and benefits paid to our MTs and MEs, which could reduce our operating margins and profitability. In addition, failure to recruit and retain qualified MTs and MEs may have an adverse effect on our ability to service our customers, manage our production capacity and maintain our high standards of quality service. An inability to hire and retain a sufficient number of qualified MTs and MEs in the U.S., could have a negative impact on our ability to grow.
If the electronic health records (EHR) companies produce solutions acceptable to large hospital systems for the creation of electronic clinical documentation that are not based on the conversion of voice to text, the overall demand for medical

transcription services could be reduced.

     EHR companies’ solutions for the collection of clinical data typically require physicians to directly enter and organize patient information through templates thereby eliminating or dramatically reducing the use of dictation or transcription. Although the EHR market is in the early stages of development and is rapidly evolving, a number of market entrants have introduced or developed products and services that are competitive with one or more components of the solutions we offer. We expect that additional companies will continue to enter this market. In new and rapidly evolving industries, there is significant uncertainty and risk as to the demand for, and market acceptance of, recently introduced solutions for the creation of electronic clinical documentation. In the event that such solutions are successful and gain wide acceptance, the overall demand for medical transcription services could be reduced. In the event that markets develop more quickly than expected, our business, financial condition and results of operations could be adversely affected.


Read more: http://webcache.googleusercontent.com/search?q=cache:wHn1Chp6DzYJ:www.faqs.org/sec-filings/100312/MEDQUIST-INC_10-K/+medquist+restructure&cd=6&hl=en&ct=clnk&gl=us&client=firefox-a#ixzz0xRxeL2E3

That makes me sick - BawlinChain

[ In Reply To ..]
"There is currently a shortage of qualified MTs and MEs in the U.S" = ??? Yeah, because greed has overcome common sense in this country.

Gasp! They may have to increase compensation to the MTs - NJA Queen

[ In Reply To ..]
Oh no, anything but that right Q? That will cut into the bottom line! They are already admitting defeat in retaining qualified US MTs and maintaing quality, setting up the stage for sending it all to India. Makes me gag!

This is truly infuriating - had a bad day already

[ In Reply To ..]
...

This is the part that freaks me out! - Smile.

[ In Reply To ..]
In the event that such solutions are successful and gain wide acceptance of EHR, the overall demand for medical transcription services could be reduced. In the event that markets develop more quickly than expected, our business, financial condition and results of operations could be adversely affected.


Similar Messages:


Latest MD-IT Ad
Jun 27, 2011

MD-IT keeps repeating this same ad out of the Boulder, CO, regional office.  But I understand they have had qualified people apply for this job the regional managers pass them up.  I also heard that MTs tried this account, decided it was too horrible to make any money, and decided not to work for this company on this account.  Anyone else have any valid information?  ...


Latest On SGS
Nov 18, 2011

Well, all the rumors are starting to come to pass with dear SGS (Superior Global Solutions).  I "WAS" in QA until yesterday.  They either fired or demoted 7 of us so far to MT status.  Not saying being an MT is a demotion, but for the sake of telling you about SGS and my experiences with them, we shall call it a demotion.  Back a few months ago they made SURE everyone had signed an "At Will" employment form so they would have all their ducks in a row when all this started to ...


TTS - What's The Latest?
Jan 18, 2013

Wondering what it's like there.  Benefits, work flow?  Thanks ...


What Is The Latest On This Company. I See An Ad For Them...sm
Nov 06, 2009

on another board and wondered if they got their stuff together after purchasing Medware?  TIA for any and all information! ...


DQS 6.1 - Anyone Using The Latest DQS Update?
Jun 08, 2010

Is anyone using the latest DQS update?  I think it's 6.1version.  I've already gone through the training on it but haven't heard when it's going to be started.  Thanks ...


The Latest On Inscribe Anyone?
Nov 23, 2010

The latest on Inscribe anyone? I am still searching the archives, but anyone who has info please contact. ...


Latest On Transportal? 
May 08, 2011

What is the latest on Transportal?  Do they do a lot of VR, IC and plenty of work?  Thanks for your input. ...


Latest V-Mail
May 08, 2012

My interpretation to the last V-mail is that we are going to get a cut in pay to match the Indians. Yep.  What do you think?  I forget the exact wording, something about uniform salaries across the board. ...


TTD Latest...what A Shock...well, Not Really.
Jun 01, 2012

Seems MTKing who posts here about how she just LOVES LOVES LOVES TTD sucked up enough to get promoted to Lead QA. NOT a surprise. Folks, take heed, some 50 people have gotten cut from TTD in THIS YEAR alone and it's only just now June. Many are owed money.  The owner sends intimidating emails.  The company offers NO training.  They also do not provide any feedback.  Read posts further down and in the archives. Nothing good can come from working for The Transcription Doc ...


My Latest Gripe
Dec 01, 2012

How many times, I mean how many, really, must we stack the subheading to the left, capitalize it, put a colon after it, and remove the word "is" before this stupid speech engine figures out that's how it's supposed to do it, not all in one paragraph?  I mean, it's a client specific, and I am pretty everyone is doing it this way, every time, so don't tell me this is the MTs fault.  ...


Is Is Just Me Or Is The Latest Post Showing From Oct 20? Sm
Oct 23, 2009

I just switched browsers to Mozilla Firefox, as I was having trouble seeing the posts at all.....Does anyone else use Firefox and read the board just fine?  I hope I don't have to switch browers again. ...


Latest Layoffs, Can We Figure Out
Jun 08, 2010

from what areas? SA4/South CCM is the same, but one regional director was changed from a guy to a woman I'm not familiar with. ...


Latest News On Stock And MQ 50.00
Jun 26, 2011

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=MEDQ:US   Sure hope the bigwigs know what their doing for their pay.  ...


Latest Job Posting (excalibur)
Aug 11, 2010

Looks like another recruiter - that same ad was on another MT job site in the last month....wonder if they charge to submit your application also. ...


AAMT Or Whatever Their Latest Abbreviation Is...
Sep 18, 2010

If it is true that our MT corporations are profiting with VR the same as if we were transcribing, well to me that's picking my pocket......So then why isn't AAMT (or whatever) going to bat for us 'editors' and set standards so that companies will pay us our fair share? Just a thought. Wouldn't it be nice if we were told by our companies that from here on in, VR will pay as much as transcribing? pipe dreams huh? ...


I Need The Latest Official Ruling On A-fib!
Mar 25, 2011

I like a-fib, since I don't see a logical reason to capitalize the "A", but maybe there shouldn't be a hyphen?  ...


Latest Keystrokes Email
Aug 31, 2011

Wow, did everyone get the email sent at 5:05 this evening, which was 6:05 my time.  A lot of BS sprinkled with "we love yous" and "by the way, you aren't getting paid until Friday" and "Its all the office manager's fault because I don't take responsibility for my own actions" love note.  "We are in a steady growth mode" and "we had to change pay dates because we can't get our stuff together enough to do invoices on time" and "we are super and you are lucky to w ...


Want To Post My Latest Sage
Feb 20, 2013

if the QA or TCM come on here I am found out...So Ill wait a while..Just a little reminder to keep a paper trail..cause something will bite you in the tail first chance they get... ...


Latest Email From Corporate
Aug 23, 2013

He must have been working late into the evening working on perfecting his email.  So after so proudly revising the out of work policy just 2 weeks ago, it is apparently already outdated. ...


Diskriter Latest Posting
Aug 29, 2014

Line rate of 5.5 for straight typing? You have to be kidding!  Do they seriously think anyone is going to do straight typing for 5.5?  Anyone who seriously considers working for Diskriter needs to do their research on how the company treats employees and their track record for dissatisfied former employees.  Why jump on a sinking ship. ...


When Is The Latest Date We Are Supposed To Get Our
Feb 09, 2015

but after Jan 31st,  shouldn't we have them by end of February at very latest??  And if they don't get them to us on time for whatever lame excuse,  where do we report it?   Our state's labor board, or the state in which they are registered to do business?  ...


According To MM's Paperwork, Their Latest Version Of
Feb 14, 2015

Fluency now works with Windows 8 and 8.1 64-bit.  Has anyone verified this or had any trouble with it?  TIA! ...


Latest Report On CBay Purchase
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 ...


Did Everyone Get The Latest Email About DocQ 5.16 Update?
Mar 03, 2010

Talk about micromanage!  Are you kidding me?  We will be locked out if we don't work our exact shift?  There has to be a 15-30 minute grace period.  I am surprised that there are not a flood of posts about this on this forum already.    I about fell off my chair when I read this.  I am very good about working my shift, but sometimes start 10-15 min early or 10-15 min late.  Gosh, sometimes get stuck on the potty in the morning for a few extra m ...


PLEASE READ - Latest Corporate Policy
Mar 03, 2010

All MQ MTs are advised to closely watch their mailboxes.  In the next few weeks you will be receiving (COD of course) a package from MQ.  You must accept delivery of this package.  It contains an electronic ankle monitor tastefully embossed with the MQ logo.  You must wear this for your entire period of employment with MQ.  When it is time for your shift to start you will receive a gentle, remotely controlled, electronic reminder - 5 or 10 volts at most.  Should you ...


Latest Rules On How To Type Numbers
Sep 14, 2010

Can someone tell me what are the latest rules on typing numbers?  Do you type 3rd or third? Thank you!! ...


Completely Confused About This Latest Merger
Jul 15, 2011

I'm utterly confused regarding this latest merger/acquisition/whatev of MQ of M*Modal.  I just accepted a position with an MTSO working on the M*Model platform.  Does the fact that the Q purchased M*Modal mean that down the road I will be working for MQ?  Does this mean that MQ just owns the rights to M*Model and now has the ability to charge the MTSOs obscene amounts of money to continue to use the platform?  Does this affect our positions as MTs who do work on M*Model ...


Latest Transcend/Nuance Insult
Dec 04, 2012

I am at about the last straw with this company.  Just a few minutes ago I got an e-mail from TSM about the "gym membership reimbursement" program.  It was to remind us "full-timers" to get our attendance records in to HR so that we can get reimbursement. Now, I have never even heard of this program.  I was a full-timer until earlier this year when I got knocked down to part-time because of their ridiculous $900 requirement, which they made impossible to reach with their %#@& ...


Latest On Diskriter, New Owners, Stability
Dec 31, 2012

Please provide feedback- positive and negative - with regard to latest on Diskriter, new owners, stability, etc.  Thank you. ...


Is Anybody Else Having Trouble Since Latest Auto Updates
Nov 17, 2013

getting into ADP or the MLS website?  I haven't gotten my line count since last week, I think Friday, and I think the autoupdate to IE 11 was Thursday when I shut down, and I can't see my ADP check info either.  I did a trouble call and they uninstalled IE 11 and reinstalled IE 8 but everything is a mess.  My sisters are both having trouble, too. ...