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Medical Staffing Agency Gets Redo Of $7.2 Million Overtime Order

A Virginia-based medical staffing company successfully was able to overturn an order to shell out more than $7.2 million in back pay and damages to over 1,100 nurses and aides for allegedly misclassifying them as independent contractors.

The US Court of Appeals for the Fourth Circuit ruled Wednesday that a federal district court's January 2022 injunction against Steadfast Medical Staffing neither adequately explained why the ruling was issued nor outlined the terms of the order in "reasonable detail," including the "acts restrained or required" of the company.

In a case brought by the US Department of Labor, the lower court ...

Medical Device Companies Are In An 'emerging Bull Market,' Jim Cramer Says

CNBC's Jim Cramer told investors that medical devices are becoming a bull market as non-essential surgeries ramp back up in the wake of the Covid crisis.

Cramer recommended companies like Inmode, which produces minimally-invasive radio frequency devices primarily used for cosmetic surgery, among several others.

CNBC's Jim Cramer on Monday touted the burgeoning bull market of medical devices, noting positive earnings reports from related companies across the board.

"It's undeniable that we've got an emerging bull market in medical devices — we've heard the same incredibly positive story from company after company," Cramer said. "I'm just praying we get another debt ceiling-related sell-off that drags down the entire market and gives you a chance to buy the medical device plays at an undeserved discount."

Over the past few years of pandemic turmoil, tons of non-urgent surgeries were postponed as hospitals inundated with Covid-19 patients struggled to provide critical care. But as the crisis subsided, nonessential procedures returned, prompting an uptick in the sale of medical devices.

Cramer pointed to companies like Inmode, known for developing minimally-invasive radio frequency devices primarily used for cosmetic surgery, whose

InMode CEO Moshe Mizrahy on the company's minimally-invasive medical tech

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earlier this month showed consumables and service revenue up 43%. However, Inmode stock fell sharply in the wake of the report, likely because the company did not update its full-year forecast, Cramer said. But Cramer chalked up those results to overly-cautious executives, dubbing Inmode stock a bargain.

Another potential boon is Johnson & Johnson, which reported a better-than-expected quarter in April, due in part to the success of its medical devices division, according to Cramer.

"When it comes to J&J, it's all about talc right now — as in the lawsuit about their talc's possible link to ovarian cancer," Cramer said. "That litigation risk is the real issue here, not earnings."

Cramer also highlighted Intuitive Surgical, which makes the robotic Da Vinci Surgical System and reported a "true beat and raise quarter." Although Intuitive sold the same number of robotic surgery systems as the year prior, the number of such procedures worldwide increased by 26% year over year, Cramer said. Since Cramer spoke with Intuitive CEO Gary Guthart back in

We're a financially effective way for hospitals to deliver care, says Intuitive Surgical CEO Dr. Gary Guthart

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, the company's stock is up 38%.

Also on Cramer's radar is GE HealthCare, which he said he purchased for the Investing Club portfolio last week.

"This company's got a terrific diagnostic equipment division, including tons of scanners that are essential for catching and monitoring Alzheimer's," Cramer said. "As the FDA approves more Alzheimer's drugs, we'll need more of these machines just to know if the new medications are working."

Jim Cramer makes the case for buying medical device stocks

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Johnson & Johnson and GE HealthCare.

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Call Cramer: 1-800-743-CNBC

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'Disappointed': Some Say Medical Transcription Company Never Paid Them

Ellen Horak and Barbara James say they worked remotely doing medical transcription for a Florida-based company called Scribe Technology Solutions.

"We would get voice files from different states. I think I mainly did orthopedics, and we would just transcribe what the doctor said and submit it back to the client," James said.

Horak and James say their problems getting paid started during the pandemic.

"There were times when, through the last two years, where we wouldn't get paid on time, things will be late," Horak said.

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Then -- they say -- the money stopped completely at the end of last year. Horak says she's owed more than $2,200. James says almost $1,800.

Another woman told Action 9 she is missing almost $1,900, and a fourth person told Action 9 about $3,500.

"Angry. Angry," Horak said. "We do the work, and then they get paid from the doctor's offices. But that money [was] never transferred over to us for the work we performed."

"Disappointed," James said.

A forum for medical transcriptionists called MTStars had similar complaints about Scribe. One person wrote, "I'm hopeful that I (and everyone else) will be paid entirely / eventually."

The workers Action 9 spoke with say they complained or at least tried to, but that it was hard to get in touch with a real person.

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Action 9′s Jason Stoogenke emailed and called the business and a lawyer whose name he came across on company documents. Stoogenke even mailed letters to addresses he found for the head of the company. But he didn't get a response in time for this report either.

As you probably know, there's a difference between employees and independent contractors. But, in either case, if you're owed money:

File complaints with the state and federal departments of labor.

You may want to talk to a labor lawyer. You might even need to consider suing.

In this case involving Scribe, the medical transcriptionists should at least file complaints with the Florida Attorney General.

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