A community of 30,000 US Transcriptionist serving Medical Transcription Industry
MTSO rates - Tina
Posted: Nov 23, 2009
Do you think the MTSOs cut their rates to their clients who are now using VR just as they have cut their MTs rates? Seems that some MTSOs are scrambling for some reason to cut everyone's pay down (even their MT pay, not just ME pay). I wonder if they are in over their heads with this new venture into VR and losing their arses and realizing it isn't quite the godsend everyone is making it out to be. One can hope, and would serve them right!
As far as MTSO rates are concerned, does anyone have an idea of what the current rates are for clinic versus acute care. Not talking about rates independent contractors charge who get their own clients, but how much MTSOs are charging. I have done a bit of research but everything is so secretive in this highly competitive field. I have a pretty good idea of what to charge but don't want to be on the high end or on the low end. I'm aiming for somewhere in the middle so that when I do get clients I can cover my costs, pay my employees well with incentives and perks, and still make a good living myself with a fair enough rate to gain good clients.
My thought is that the MTSOs are probably still charging about the same as they did before VR (maybe a bit less as there would have to be some incentive for the client), only now, instead of paying MTs, they are having to pay more out to techs, training personnel, and upper management.
I would love some feedback, preferably positive.
I can help answer a couple of your questions - sm
[ In Reply To ..]If you send me an email, I'll be back home a little later today and can reply then.
Thank you, truly! - Tina
[ In Reply To ..]I have sent an e-mail via MTSTARS but, if you don't get it, another e-mail address is info@streamlinedtranscriptionlogistics.com...I know it's a doozy but it's part of my webpage.
Thanks again!
why don't you post it here on the forum?..sm - vrvr
[ In Reply To ..]Why so secretive?
We all want to know this; if you know more than we do, tell us!
I personally do believe that MTSOs charge the clients LESS for VR, not half, I guess 2/3 of the straight rate.
Interesting - Tina
[ In Reply To ..]and I appreciate your input. I personally doubt, however, that they are giving a one-third discount. I'm thinking more around a 2 cent discount per line for their VR clients and cutting MT rates by 4-5 cents per line so they would actually be ahead 2-3 cents per line, not counting extra expenses incurred. Something for me to consider though. Thanks again!
I doubt any discounts are being given to facilities - Tired&CrankyMT
[ In Reply To ..]When an MTSO is using a back-end VR/SR platform, the engine is not trained to each individual doctor's voice. It is trained by the MTs and editors as they either transcribe and edit the reports. The doctors dictate as they normally would, dialing into the dictation system, without ever knowing how their reports are being completed.
My company has both straight and VR/SR. Some of my docs actually tell me 'thank you for taking this dictation.' If they are aware of VR/SR's use on their reports, then why thank a machine?
Discount? Nah, instead it's more cost effective to cut the editing rates to increase the profit margin and have the MT-editors pay back the money spent on the overpriced innaccurate VR/SR system within the first year its implemented.
You are probably right - Tina
[ In Reply To ..]I hadn't thought of that but, since you mention it, I tend to agree. My initial thinking was that they talked the clients into using VR and gave them a discount as such. Actually, do they even have to tell the clients they are using it???
Probably not, Tina. Why would they? - Tired&CrankyMT
[ In Reply To ..]Same as we do not have to tell our employer if we use an expander or our own VR program to get the lines on the page to increase our production.
In the case of an MTSO that also sells VR/SR platforms, I think they would be cutting their nose to spite their face by selling the system to one of their existing clients by alerting them they could pay out much less per line using VR/SR. The facility would then expect a much lower rate to be charged if they continue receiving services from that MTSO.
Would an MTSO who also sells VR/SR rather have continuous payments or a one-time payment?
The answer is they probably prefer both. I think the MTSO selling VR/SR program makes it a point to keep the 2 divisions of its operations very separate.
I understand what you are saying here...sm - whatever
[ In Reply To ..]that the MTSOs can withhold to their paying clients that a lot of their reports are done by VR and charge the same rate as straight.
But what happens when the VR software is directly sold to the client? One of the incentives that VR vendors give the client to buy the VR equipment is certainly saying, "the MT will double (what is incorrect!) their production, but you will pay only half of the rate."
I am sure that this will spread around among doctors, hospitals, management etc....
Therefore I believe that it cannot be kept silent and clients are not charged the same for straight and VR.
This might also be a reason why so many MTSOs lose their accounts because the clients cut out the MTSOs due to overcharging for VR.
where I work, you cannot even separate the lines from VR and straight - the hospital personnel does that
[ In Reply To ..].
answer to vrvr - sm
[ In Reply To ..]Surely you must realize that some of the information being asked for is not suitable for posting on a public board.
I do not email other people from a public board blindly, nor will I respond blindly to an email that is sent to me. Sometimes I will, but sometimes I won't, it just all depends.
MTStars is very kind and gracious, not only in providing this board for us, but in protecting our identities, and I for one intend to keep it that way.
I honestly don't mean to sound unfriendly, but that's just the way it is, especially when the subject being discussed involves such sensitive information.
Did that put you in your place yet? - Told you so
[ In Reply To ..]I am so loving this.
Perfectly understandable - Tina
[ In Reply To ..]I did try to send you an e-mail but, for some reason, people can send me an e-mail from MTSTARS but I can't send to them using MTSTARS. I understand not wanting to share too much information over MTSTARS and perhaps I share a bit too much. Anyway, if you still want to extend a helping hand, that would be great but, if not, I definitely understand. If you do and want to shoot me an e-mail, I think I will get it if you choose the "reply by email" option on MTSTARS, or else you can try the address I listed previously. Thanks so much either way!!!
judging on your answer will your answer then be...sm - puzzle?
[ In Reply To ..]an answer from an MTSO to another MTSO , and MTs should rather not know your answer?
My meaning being - Tina
[ In Reply To ..]that she should only share what she is comfortable sharing, whether that be via MTSTARS or via e-mail. As such, I have not heard anything back and she is well within her rights to share or not share. As is, I am going about gathering the information I need via another route. The data is out there and available, it is just a matter of figuring out how to gain access to it. If one way turns out to be a dead end, try another.
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