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MGT307 Wk 2 MedQuist Organizational Behavior Forces

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Below discussed are the change forces and their impacts over the organization, MedQuist
Restructuring:
In order to cut down costs the company Med Quest restructured the company that helped them to reduce operational
costs 10-11 $ million dollars. They reviewed the company’s needs and reorganized to reduce the operational cost.
This was carried out by reducing corporate staff by 10% however the transcript writers were not affected.
Source: http://www.prnewswire.com/news-releases/medquist-announces-corporate-restructure-and-reduction-in-
workforce-58596227.html
Mission statement:
The mission statement of MedQuist, Inc. entails “to provide innovative technologies and outstanding service for
electronic healthcare documentation, allowing our customers to enhance the continuity of patient care, accelerates
their revenue cycles and lower costs.”
Source: http://www.medquist.com/Default.aspx?tabid=205
Competition:
US has many companies working in field of medical transcriptions as MedQuist Inc. so the high level of
competition is evident from the number of operators.MedQuest has been able to develop a competitive
edge when its major competitor Spheris went bankrupt and it acquired its resources.
Source: http://www.healthcareitnews.com/news/spheris-bankruptcy-could-spark-bidding-war-medquist-lead
Economy:
When economy is in downturn all companies look for cost effective management of resources. Keeping in
view the situation it is likely that the medical transcription companies hire offshore companies for the work
which will result in cut down of jobs in US job market. The reason for this change could be the lower
competitive labor prices that some offshore countries like India have which will help these companies to
reduce their operative costs on the employee payrolls. At the same time the time zone difference favors
these countries and they complete and send back the medical transcriptions before the US transcription
companies. So far these changes are only proposition and no jobs of US have been cut down. MedQuist
still handles most of the work based in US but observing economy changes one could anticipate such
changes that hospitals might end their contract with MedQuist and hire new offshore lower priced company.
Source: http://www.outsourcingprofessionals.com/medical-transcription.php
Customer Demands:
Demand is high in medical transcriptions. The clinics, hospitals or the physicians on company’s panel want
the transcriptions to be completed and sent back within time limit of 24 hours. Company has to arrange for
methods and strategies to complete tasks on time having turn around time. The efforts include overtime
also to come up to the customer demands. They have upgraded their dictation equipment and included

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speech recognition software that facilitates through cost cutting, increasing turn around time and ending the
typing errors. it helps the physicians to upload the dictated version to transcriptionist who later edits it and
sends back freeing physicians of cumbersome work of typing each word.
Source: http://www.prnewswire.com/news-releases/medquist-signs-agreement-extending-use-of-real-time-
speech-recognition-engine-to-wide-range-of-medical-specialties-78135507.html
Globalization:
MedQuist is a globally operative medical transcription company that is offering services not only to US
clients but all over the world. it has a staff of almost 900 transcription writers that type reports and send
them to respective hospitals and clinics.MedQuist is based and operative from Us but now it has also hired
transcription writers from Pakistan and India as labor rates are low there and the time zone difference allow
them to work faster and send completed reports before the US employees.
Source: http://articles.sfgate.com/2003-06-08/business/17493605_1_transcription-service-outsourcing-
health-care-providers/2

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