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.
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.
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.
Investor and Company Contact:
Chief Financial Officer
Medical Transcription Billing, Corp.