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#106220 - 08/05/08 02:00 AM
Cbay taking over Medquist
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marie01
New Member
Registered: 06/09/08
Posts: 14
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Forgive me if I am behind on this one, but this was talked about on another board. They were discussing this and something about a hostile takeover? Meaning that they can also takeover other companies if they have a certain # of shares?! Does anyone understand this, and if it is true or not? In reality, do you think that is possible? Seems to me that there are always going to be hospitals/services here that will want to keep their records here?
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#106224 - 08/05/08 02:29 AM
Re: Cbay taking over Medquist
[Re: marie01]
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Mike
Administrator
Registered: 07/11/98
Posts: 2690
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Hostile takeovers only affect companies that are publicly traded. Here's more info:
http://money.howstuffworks.com/hostile-takeover.htm
It's possible that CBay could buy enough shares of every publicly traded MT company. But it's not very likely. If clients didn't want their work going to CBay they'd just give their business to privately held companies. Then the privately held MT companies would need more MTs and so the MTs would move to those other companies. That would be a big waste of money for CBay.
This is basically how MQ got so big in the 90s. I don't think they did it in a hostile takeover, since most MT companies are privately held. They just bought a lot of smaller MT companies.
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#106247 - 08/05/08 10:57 AM
Re: Cbay taking over Medquist
[Re: Mike]
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marie01
New Member
Registered: 06/09/08
Posts: 14
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Hi Mike,
Another concern was that because of these bigger companies taking over, that the smaller ones would have to pay American MTs even less than what they are paid now, just to stay afloat!
Thanks for the info!
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#106269 - 08/05/08 12:28 PM
Re: Cbay taking over Medquist
[Re: marie01]
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Julie W8
Member
Registered: 01/10/99
Posts: 3526
Loc: Los Angeles, CA USA
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Hi Mike,
Another concern was that because of these bigger companies taking over, that the smaller ones would have to pay American MTs even less than what they are paid now, just to stay afloat!
Thanks for the info!
I don't know why that would be the case unless the smaller companies actually think these big companies are paying all those executives six-figure salaries plus bonuses and making a pretty healthy profit by charging less per line.
Get rid of ambiguous lines, institute verifiable counts and you will finally find out what these companies are REALLY charging for transcription - trust me, it isn't 12 cpl or even 14 cpl.
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#106527 - 08/07/08 12:38 PM
Re: Cbay taking over Medquist
[Re: marie01]
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rainloveslife
Member
Registered: 07/31/06
Posts: 405
Loc: Georgia on my mind
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Marie,
I heard a month or so ago that CBay bought MQ, which was well known to be for sale by its parent company, Phillips. MQ has/had been for sale for quite some time.
_________________________
Aspire to inspire before you expire. Smile, it improves your face value 
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#106650 - 08/07/08 10:00 PM
Re: Cbay taking over Medquist
[Re: Julie W8]
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2kids3dogs
New Member
Registered: 04/01/08
Posts: 16
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Get rid of ambiguous lines, institute verifiable counts and you will finally find out what these companies are REALLY charging for transcription - trust me, it isn't 12 cpl or even 14 cpl.
Hi Julie: I've seen you post about "verifiable counts" several times, have been to your website and I still don't understand what exactly this accomplishes. Could you explain it to me in layman's terms?
I currently charge one of my smaller clinics X cents per 65 character line. I simply in word take the # of characters with spaces and divide by 65. On the invoice is the number of characters and the number of lines along with the X cents per line and a total charge for that day's work.
How much more verifiable can that be? My proposal spells out what I charge per line, what my lines are based on and they either agree or they negotiate or I don't take the account.
When you talk about ambigious lines, etc., it gets confusing to me but I was never good at "analytical math" anyway.
For anyone complaining about companies paying crap wages to their ICs, making them work set schedules, etc., all I can say is don't take the job if it's not worth it to you.
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#106701 - 08/08/08 10:30 AM
Re: Cbay taking over Medquist
[Re: 2kids3dogs]
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BizzeeMT
Member
Registered: 07/23/01
Posts: 1228
Loc: Midwest
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2 kids -
Though I can't speak for her, I don't think Julie is referring to instances such as yours, or the majority of small to medium MTSOs' manner of defining and billing a line.
National services have been known to "hide" their billing methods behind bolding, underlining, caps, etc.- charging for these things without making it clear to the client, much less "verifiable".
_________________________
For I am a Bear of Very Little Brain, and long words bother me." — Winnie the Pooh
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#106756 - 08/08/08 03:03 PM
Re: Cbay taking over Medquist
[Re: marie01]
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bobbcat
Member
Registered: 03/27/03
Posts: 6993
Loc: My office.
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Medquist announces new board members here .
_________________________
Bottom line, it's either M-TEC or Andrews.
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