![]() The idea here is to build a new company out of the strengths of all our companies (MedQuist, CBaySystems, Spheris). What’s the biggest challenge you face moving forward? I don’t see challenges in recruiting top talent here in any shape, form or fashion – the cost of living, lifestyle and the significance of the health-care presence in Nashville are all major attributes. And you want to be close to where the decision-makers are. There are less than a handful of towns in America where you’d want to be located if you were a health-care company, and Nashville is certainly near the top of that list. What advantages does MedQuist see in moving its headquarters from New Jersey to Cool Springs, where you earlier had acquired Spheris (another medical documentation company) and have several big clients? M*Modal has a lot of innovative ideas, developmental agendas and with the merger of MedQuist, we hope that now we can accelerate the roadmaps they had in place and accelerate those innovations. Instead of working together as two different companies, there’s significant value of working intimately together as one company. How does MedQuist plan to use M*Modal’s technology going forward? It’s going to be all of those things as we try to make “collaborative intelligence” real. The right articulation of that is evolving into a solutions company where we provide world-class services, best-in-class technology, and we do that with world-class processes and the best possible people that we can recruit. So, the idea here is to make an impact on an industry that absolutely needs to accelerate its adoption of technology, enhance physicians’ productivity … and give physicians the best information possible to make decisions.ĭo you see MedQuist going in the direction of being more of a technology or more of a service company? I see a similar opportunity here for the MedQuist customer base – strong relationships, trusted relationships, adding now a significant technology component to that and shifting our value as a company more upstream to delivery systems and to physicians in the area of clinical information, clinical knowledge. I did that with a company called Misys that merged with a company called Allscripts that has created the (current) market leader in clinical information sytems. If you look at my career, I’ve had the opportunity to take similar situations, which were market-share leaders in maturing marketplaces and shift them to the next growth opportunity. ![]() How much was the planned M*Modal acquisition a factor in your recruitment to come here? It takes a base of customers, which is what MedQuist has, and technology and innovation for which M*Modal is known, and it leverages both of those assets (in ways) … to really help address quality and costs. That’s what the M*Modal merger is all about. There’s also a dimension of enhancing that service relationship with technology to aid productivity, physician adoption and things of that nature. There’s a transcription marketplace that is maturing and will go through consolidation, and we certainly will continue to be a participant in that. What do MedQuist’s pending acquisition of M*Modal and a few other deals say about your industry? It just created a personal affinity to the industry. Davenport also sees a continued trend toward using offshore labor in his industry, particularly in India, where MedQuist has a large operation.Īfter MBA school, I went to work for IBM, and as a result of the territory I (worked), I had some early success as a salesman with IBM (customers) in health care. He is also currently overseeing a rebranding as well, which could lead to a new name and corporate identity for his company.ĭavenport spoke with Tennessean reporter Getahn Ward about changes in the medical transcription industry and MedQuist’s plans to capitalize on the national push to adopt electronic health records. “If you can do it through technology versus manually, you can recognize significant cost savings,” Bright pointed out.ĭavenport, 53, sees opportunities to leverage M*Modal’s innovative speech-recognition work to make MedQuist an even stronger industry player. Industry analyst John Bright of Avondale Partners in Nashville said recently he sees top companies like MedQuist beefing up their technology offerings to control costs in the medical information sector. The idea is to help doctors and other health-care providers convert the spoken word into meaningful clinical information as patients receive care. Davenport’s expertise is linked hand-in-glove with his 28 years in the health information technology field.įranklin-based MedQuist took a big step earlier this month by saying it would acquire M*Modal of Pittsburgh for its speech-recognition technology. With technology becoming more important in the medical transcription industry, MedQuist Holdings recently tapped Vern Davenport as chairman and chief executive officer.
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