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


The Q posts 34% profit.... - makes me ill


Posted: Nov 12, 2010

MedQuist sees 34% increase in Q3 revenue

Published 12 November 2010

MedQuist has posted a net income of $8.97m in the third quarter 2010, or $0.24 per diluted share, compared to net income of $9.7m, or $0.26 per diluted share, in the comparable period in 2009.

MedQuist is a provider of integrated clinical documentation solutions for the US healthcare industry.

MedQuist's operating income was $13.29m, compared to $8.12m for the comparable period in 2009.

The company has posted a revenue of $274.44m, for the nine months ended 30 September 2010, compared to $233.25m for the year ago period.

For the nine months ended 30 September 2010, MedQuist has posted a net income of $17.2m, or $0.46 per diluted share, compared to $17.39m, or $0.46 loss per diluted share, for the year ago period.

The company's income from operations for the nine months ended 30 September 2010 was $25.19m, compared to $16.33m for the year ago period.

MedQuist CEO Peter Masanotti said that they are pleased with the operating performance for the third quarter of 2010.

"Our net revenues increased 34% during the third quarter compared to the same period in the prior year, due largely to third quarter of 2010 being the first full quarter that included the impact of the Spheris acquisition," Masanotti said.

"Our increases in revenues were partially offset by the impact of pricing and lower non-core maintenance service revenues."

 

Why feel bad -- as stated, it was largely due to acquiring Spheris... - sm

[ In Reply To ..]
I would be shocked if there WASN'T an increase in MQ revenue which would indicate Spheris was not producing any revenue - and that would be absurd. Of course the revenue has increased!

Well, it goes like this... - OP

[ In Reply To ..]
The people at the top are skimming off all the cream and living like kings while us at the bottom of the totem pole--we who actually produce the income for the company--are getting the shaft. Where's our raise?


Similar Messages:


Profit Vs. Not-for-profit Hospitals...
Sep 13, 2012

Are there any opinions whether a not-for-profit (religious-affiliated) hospital is less likely to outsource their medical transcription work....more likely to try to keep the jobs in-house for their employees?   I had a friend tell me that, about trying to get a job with a not-for-profit hospital near us.  However, though I'm sure they'd LOVE to keep their employees' jobs, I just have to wonder how ANY hospital is able to keep their MT department in-house in this curren ...


Transcription Co. Profit 101
Dec 03, 2014

For a transcription company, their biggest sales pitch is voice recognition.  This is how it works . . . 1.  Hire us, and it will only be a matter of a few months, and 75% of your documents will be 100% voice recognition - cost 0.3 cents per line. 2.  During the system training, the cost is 0.20 cents a line for documents that are transcribed completely from voice. 3.  Documents that are edited by transcriptionists, are only 0.7 cents per line. The hospital does the math, ...


Profit And Loss Statement
Jun 13, 2010

i am an at home transcriptionist and have been for 23 years.  I am trying to do a home loan modification and I need a profit and loss statement.  Does anyone have a sample report pertaining specifically to being an at-home independent contractor?  My tax man says he doesn't know how to do one, although he does the Schedule C for me on my taxes.  Any suggestions/samples?   Thank you! ...


Employees Who Generate No Profit For Nuance
Feb 26, 2015

I just wonder has anyone ever tried to calculate the cost involved in recruiting, hiring and training the long line of people who come through the revolving doors of Scruance? There seems to be a never-ending stream of newbies. Meanwhile, the long-time, loyal, revenue-producing MTs are getting the shaft. And what about the cost of employees who do the recruiting, hiring, training, mentoring, QAing, QCing, auditing, TSMing, COMing and POCing in addition to other nonrevenue-producin ...


130 Percent Profit But Cannot Give Raises.
May 29, 2015

I listened to the meeting. At least I get paid my hourly rate.  ...


Companies That Provide 401Ks And Profit-sharing:
Oct 20, 2009

There's just ONE, eensy-weensy little problem with MT companies providing their employees with a 401K as one of their benefits: What person on a measly MT's earnings can afford to put anything into it?????  I can't spare even a dollar at the end of each pay period, and haven't been able to put anything into even a savings account for years.  Did it ever occur to them that a retirement account is USELESS if you don't pay your employees enough to fund it? ...


Just Saw On The CBS Evening News That The Gov. Is Going To Crack Down On For-profit Schools.
Jun 02, 2011

Apparently they're exorbitantly priced, large percentages of their students default on their government loans, and they don't prepare the students adequately for the careers they promised.  Sound familiar? ...


MedQuist Cost Cuts Lift Profit 7 Percent
May 13, 2010

MedQuist said it reduced employee head count last year and lowered transcription costs by increasing its use of speech recognition technology. = employees took the loss while they got the gain! (Courier Post) ...


Job Posts
Dec 30, 2009

Why is it, that when you apply for a job, the company doesn't have the decency to contact you back, after jumping through hoops to complete their testing? ...


Help Please, A Few Posts Down . . .
Apr 08, 2010

someone had the instructions for finding out about the STATUS on DocQManage.  I do not have the status.  Could someone walk me through this to see how to find out about the people working on my account?  Any help would be appreciated!!! ...


Where Did All The Posts
Jul 10, 2010

. ...


Wish We Could See All Posts In The
Jul 20, 2010

It would be nice if we could read all the posts in the current month.  Sometimes I want to follow a particular thread, but it falls off the bottom of the page and cannot be seen. Can this capability be enabled?   ...


Where Are All The Posts Between 8/1 And 8/8?
Aug 16, 2010

Posts missing for the week of 8/1 to 8/7 or 8/8.  hmmm.  Just wondering is all. ...


This Is What The Job Posts Lately Seem Like
Jan 19, 2011

Every time I look to see what's out there, as far as job requirements it seems to get worse and worse.  I just wanted to put something up here which is what this all reminds me of... thank you for putting up with my sick humor...  Here's what I think when I read jost postings: WANTED:  MT!!!!  This job is For YOU!  Why wait in the cold outside, freezing in your home which is a box under the highway when you can bask in the warmth of our SWEAT SHOP!!! Yes! We ...


The Posts About W2s. Sm
Jan 29, 2011

I am amazed at how many people ask the same question year after year about company after company.  Companies have until 1/31 to mail W2s.  The bigger the company, the longer it takes to finish up the previous year's books and have W2s ready to print.  It takes a lot of time to print, assemble, stuff, seal, stamp and mail an entire company's worth of W2s.  Smaller companies often take just as long because they don't have a large accounting department or the manp ...


Regarding All The Posts Below About Being On 100% QA----
Mar 21, 2012

First of all, it sickens me and I can't use the language I want to use about this or I'll get banned. A few weeks ago I failed an audit just under the 99%.  I started getting worried, and I confided in my CCM - told her I was worried about my pay being docked if I ended up on 100% QA.  I also told her why all of a sudden are they unhappy with my work when I have been here over 10 years and have always passed my audits.  The reasons for failing were ridiculous, and I tol ...


Posts
Aug 09, 2012

There have been a few times since I left MModal when I've wondered whether I did the right thing by leaving. I still come here to see what's going on, and seeing all the posts makes me know I did the right thing by leaving. Nothing seems to have changed for the good, and I doubt they ever will. God bless you each and every day for putting up with this company's mess and disrespect. ...


Did You See The Posts Below?? That Is It! You
Jan 06, 2013

for about 2-3 days.  You all need to seriously call in sick for 2-3 days.  I have emails to about 1,000 MTs.  When and IF we get more work coming in, we need to seriously take off by stating we are sick and cannot work.  Something has to be done and this is the only thing I can think of that might trigger something for the higherups to get a CLUE that we are human beings.    ...


Why Can't I See Any Posts, Only Ads?
Aug 26, 2013

Every time I click on MModal, a blank page comes up and it only goes as far as the advertisement. ...


With All These Posts About Getting Out Of MT,
Sep 19, 2013

It seems like when someone comes on here to say that they are getting out of MT and studying coding or nursing or something, someone always has something negative to say about what they are pursuing.  Well, what jobs are "safe" or good career opportunities.  There has to be SOMETHING that can't be sent overseas or hires someone without experience, etc. Right?! ...


FN Posts Yet Another Ad
Apr 21, 2014

Yes, they do need help.  The work has gone from NJA to multiple notices of needing help on specific accounts. However, they are hiring for people to do speech recognition work on the M-Modal platform - their version of this platform.  See discussions below.  This platform is nonproductive and cumbersome.  If someone from this company can make as much money per hour on this M-Modal platform as they were on the previous speech recognition platform, please, by all means, step up ...


May's Posts
Jun 06, 2015

Hi.  Just wondering if there is a way to view all posts from May, or can you only do a subject search?  At the bottom it shows June, July, Aug but not the prior month of May, etc.  Thanks in advance. ...


How Do See Posts And Archives
Oct 18, 2009

Would appreciate any info on how to see messages on boards and in archives.  When I click on the Navigation menu at the left all I get are blank screens.  Thanks. ...


I Have Been Reading The Posts Below And Would Like To Say...
Nov 04, 2009

There are MT DIVAS and QA DIVAS... why couldn't the Lord have given me a voice like Whitney or Aretha, then I could have been a real DIVA and not worrying about making 7 cpl and paying house and car payments.  To be Mariah Carey wouldn't be bad either.  Which DIVA would you choose to be if you have the choice?  George Michael, Donna Summer?  I mean REAL DIVAS! ...


I Wonder Why, If All Of The Posts Below Are True,
Nov 14, 2009

that MQ sent out that stupid letter stating not to worry, we will still need MTs, and that off-shoring will remain one of many solutions (including VR).  I really have no idea whether we will still be here after the first of the year or not (although that's what a lot of people on this board thought LAST year and it didn't happen....but WHY would they waste their precious money sending that letter to everyone if they planned on nixing us all soon?  Doesn't make sense.&nb ...


Negative Posts
Jan 02, 2010

I honestly don't understand all the negative MTs on here.  It is very unprofessional to come on here and slam your company.  I have been an MT for over 10 years and have always made enough money and I'm proud of what I do and love the money I make, all while working from home.  I think most of these negative people are just people who aren't cut out for this profession and I wish they would realize that and go find something else to do.  Why would you put your ...


DISAPPEARING POSTS
Jun 17, 2010

Does anyone know why posts just disappear?  Posted something around midnight, and get up this morning and it's gone.  I was asking about relationship between *******, if any, who owns them.  Does this moderator get paid? Other posts about discrepency between pay of MTs and pay of management who have never transcribed have disappeared, top heavy company comments disappeared... What's up?   ...


Just Read Posts! So Sorry For MTs Let Go.
Sep 02, 2010

How do you think the head person of WEB started out?  I believe it was from learning the business from MQ.  Before WEB, it was Spheris.  Before Spheris, it was MQ who was previously known as MRC Group and Transcription Limited who joined and became MQ.  Previous to MRC Group, it was Secrephone/Medifax where some of the managers started out and became CEO/COO/board of directors.  All these CEO, COO, financial officers, board of members all know each other and used to wor ...


Posts Deleted.
Jan 19, 2011

I do not post that often; but lately I have noticed that anything I post disappears. What is happening. Could I be banned? ...


IC- 1099 Posts
Jan 28, 2011

I'm curious about all the posts regarding getting your 1099 if you're an IC. As an IC, a business person, you should already know what you've billed to clients (services).  You don't need to wait for a 1099 to file your income taxes if you've kept good records and already know what you billed out and what you received. I'm flabbergasted at how many of you are so clueless with how to BE an IC. ...