MTBC Announces Launch of New Platform to Support Continued Growth
June 14 2017 - 7:00AM
Marketwired
MTBC Announces Launch of New Platform to Support Continued
Growth
SOMERSET, NJ-(Marketwired - Jun 14, 2017) - MTBC (NASDAQ: MTBC)
(NASDAQ: MTBCP), a leading industry consolidator and provider of
proprietary, cloud-based healthcare IT solutions, today announced
the initial launch of MTBC WebSoft™, the newest addition to its
leading cloud-based healthcare IT platform which will further
support scalability, acquisition integration, and margin
expansion.
"MTBC WebSoft leverages state of the art technology - ASP.NET
MVC framework and AngularJS 2.0 - to optimize performance, empower
us to scale with increasing efficiency, and enable us to further
streamline the integration of newly acquired customer bases," said
Hadi Chaudhry, Vice President of Global Operations. He continued,
"As a top consolidator in our space that has grown year-over-year
revenues by more than 60% during the most recent two quarters, this
is precisely the type of tool we need to ensure that we remain
ahead of the industry for many years to come as we continue our
expansion into new markets."
The healthcare revenue cycle management market is highly
fragmented and MTBC estimates that there are more than 1,500
revenue cycle management companies, the overwhelming majority of
which do not have a proprietary healthcare IT platform or scalable
infrastructure. During the last five years, MTBC has acquired the
customer bases of more than a dozen competing revenue cycle
management companies, which lacked the type of proprietary
platform, expertise, and scale required to support the needs of
their existing and prospective customers. In conjunction with its
acquisitions, MTBC leverages its proprietary technology platform
and team of more than 1,800 individuals - including approximately
250 IT professionals - to add value to the newly acquired customer
relationships and expand in the local market.
MTBC WebSoft, which has been in development for a year and a
half and will ultimately replace MTBC's legacy management
information system, leverages the newest ASP.NET
Model-View-Controller (MVC) framework and the power of AngularJS
2.0. The beta launch of MTBC WebSoft began on June 1, 2017 and the
company expects MTBC WebSoft to be fully deployed within 60
days.
About MTBC
MTBC is a healthcare information technology company that
provides a fully integrated suite of proprietary web-based
solutions, together with related business services, to healthcare
providers throughout the United States. Our integrated
Software-as-a-Service (SaaS) platform helps our customers increase
revenues, streamline workflows and make better business and
clinical decisions, while reducing administrative burdens and
operating costs. MTBC's common stock trades on the NASDAQ Capital
Market under the ticker symbol "MTBC," and its Series A Preferred
Stock trades on the NASDAQ Capital Market under the ticker symbol
"MTBCP."
For additional information, please visit our website at
www.mtbc.com.
Forward-Looking Statements This press release contains various
forward-looking statements within the meaning of the Securities Act
of 1933, as amended, and the Securities Exchange Act of 1934, as
amended. These statements relate to anticipated future events,
future results of operations or future financial performance. In
some cases, you can identify forward-looking statements by
terminology such as "anticipate", "believe", "continue", "could",
"estimate", "expect", "goals", "intend", "likely", "may", "plan",
"potential", "predict", "project", "will" or the negative of these
terms or other similar terms and phrases.
Our operations involve risks and uncertainties, many of which
are outside our control, and any one of which, or a combination of
which, could materially affect our results of operations and
whether the forward-looking statements ultimately prove to be
correct. Forward-looking statements in this press release include,
without limitation, statements reflecting management's expectations
for future financial performance and operating expenditures,
expected growth, profitability and business outlook, increased
sales and marketing expenses, and the expected results from the
integration of our acquisitions.
Forward-looking statements are only current predictions and are
subject to known and unknown risks, uncertainties, and other
factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from those
anticipated by such statements. These factors include, but are not
limited to, the company's ability to manage growth; integrate
acquisitions; effectively migrate and keep newly acquired customers
and other important risks and uncertainties referenced and
discussed under the heading titled "Risk Factors" in the Company's
filings with the Securities and Exchange Commission. Although we
believe that the expectations reflected in the forward-looking
statements contained in this press release are reasonable, we
cannot guarantee future results, levels of activity, performance,
or achievements.
The statements in this press release are made as of the date of
this press release, even if subsequently made available by the
Company on its website or otherwise. The Company does not assume
any obligations to update the forward-looking statements provided
to reflect events that occur or circumstances that exist after the
date on which they were made.
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SOURCE MTBC
Investor and Company Contact: Bill Korn Chief Financial Officer
Medical Transcription Billing, Corp. bkorn@mtbc.com
732-873-5133
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