Trying to research this company....whats your thoughts? Whats the climate like at the sales position level? how difficult is it to earn business with their service? Is it any different than other Path...services offered? Is it a Turn and Burn atmostphere?
Read all the Insight Imaging posted boards. If you don't want to bother I will advise you to "RUN, DON'T WALK TO THE NEXT COMPANY"
Yes, please, run to the next company. Anyone who uses the term "turn and burn" is a total shithead. Go work for a lab company or go back to waiting tables.
Here's what it's like at Insight: Only at Insight could some little twerp with an AA degree hold a VP title. They have a bunch of under qualified people with inflated titles and even more inflated salaries doing things they have no business doing. Hence the current BK status.
Why would you want to work there? They don't even offer a decent compensation package. The health insurance is minimal & there's no 401k match. What do they offer? A paycheck? You can get that anywhere. They've cut so many positions that the place can barely function. Morale is non-existant. Almost anywhere else would be better.
Comp package for basically all positions at Insight are somewhere in the middle of the industry. I've seen plenty of sales salaries that are fairly high. Health insurance is a HSA plan that is relatively inexpensive but does come with a deductble of 1500 ind/3000 family. That's pretty stadard in today's world; get used to it. All of you who abused HMOs over the years by going to the Dr whenever you had the sniffles created that mess. That's not an Insight problem; that's an American problem. We had a 401K match for years and have not elected to give it over the past 2 years. The notion that we've cut alot of positions is a myth. Where has that happened? How many positions? By the way, so what if there's a VP with only an AA degree? I don't know who that is; but, if it's who I think it is, that person has 20+ years industry experience. I think it's funny how there are always people making accusations on these posts but they never, ever provide specifics. That's because they have no idea what they're talking about.
Many positions have been eliminated as one location after another has been shut down over the past few years. The company is much smaller than it used to be and now they are in bankruptcy AGAIN! That's twice in 3 years.
I suggest viewing this bankruptcy as a positive event. This debt restrucutre will allow Insight to adjust the balance sheet and free up cash. The company's footprint is smaller since many centers that were divested had low profit margins. With an improved balance sheet and focusing on centers/markets with stronger profit margins, Insight should be able to re-invest into their core centers with improved equipment and reinstate employee perks/pay raises. The imaging business is capital intensive. This is good news and bad news. The costs of equipment creates barriers for competitors to enter the market, but it also forces companies to spend money at a fast pace. Will the company survive? Of course...it continues to generate cash and profit. Will the company be able to grow? It should with the financial changes and focus. Is Insight a good place to work? Yes...but it depends on the immediate supervisor and how the employee feels valued by the company. Insight continues to survive...I would expect that the next several years will be an improvement over the past three.
Most of these posts have a Bevis and Butthead quality to them: "ahhhhh...Insight sucks!" "yeah, they like, ahhh, are like, ahhh bankrupt again" "ahhhh yeah they suck". Can't you do better than this? This is a restructure by using the chapter 11 process to move it through quickly. The first b/k 3-4 years ago only dealt with part of the debt; this one effectively wipes out all debt. It's been a tough business to be in over the past 5 years or so. And, yes, Insight has made some poor choices. But for people to assume that there is some kind of nefarious intent on the part of the company to destroy itself and people's careers is a little paranoid. After the b/k is done, the company will be in a better position to move forward. You can disagree with the direction if you choose; however, you simply can't look at this situation and find it to be all negative.
How can the next few years be an improvement? Are the same people going to be in charge or are they being replaced?
well....let's see...you are assuming that the only way to have improvement is to have people replaced. Has it occurred to you that many of the people who you think should be replaced have been working on this restructure for along time now? Most of the management team in the company is either fairly new to the company (3 years or so) or they have moved from other positions into their current positions. But if you think that people need to be replaced, why don't you tell us who and specifically why? Be detailed. as for how the next few years can be an improvement... 1. 290M less in debt. What if you had no personal debt? Wouldn't your life be different? 2. No more biannual interest payments. That's close to 20M that stays in the business.. 3. Sold centers in low paying markets (CA, NY, PA); bought centers in good ones (VA, MA) 4. Even though overall revenue has reduced because of declining reimbursements and less centers, the margins have improved over the past couple of years. 5. New, more motivated-to-succeed BoD. areas of concern: 1. continued decline in reimbursements. 2. question of Revana's ability to create new business. 3. wholesale markets are declining and will business that is going in house in hospitals will need to be replaced. 4. morale. There's more pain ahead because Insight has to look at areas of the business that aren't profitable and there will need to be changes. That means some of our centers will be sold and some wholesale accounts won't be renewed because they don't create profit. That's not fun for anyone to see; but, its the reality. I don't see many other businesses with exploding growth right now. With the way healthcare reimbursement is under assault, Insight needs to tighten up. It's natural for all of us to feel concerned that we not have a job. Look around you; welcome to 2011.
