SOMERSET, N.J. , Oct. 04, 2017 (GLOBE NEWSWIRE) — MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based technology solutions today announced that one of the 10 largest insurance carriers in the United States has entered into a contract with MTBC to leverage MTBC’s EnrollmentPlus™ software-as-a-service (SaaS) solution.
“Our proprietary electronic data interchange (EDI) platform, EnrollmentPlus, is positioned to revolutionize group insurance enrollment through our unique clearinghouse engine,” said Bill Korn, MTBC Chief Financial Officer. He continued, “Our EnrollmentPlus SaaS solution is an outgrowth of our clearinghouse. Automating the processing and validation of enrollment is a new capability, and we are excited to welcome one of the nation’s top insurers as a new customer. We are excited to launch this new SaaS solution which could become an important new source of revenue for us.”
“EnrollmentPlus — which was developed in collaboration with MTBC’s ad hoc advisory council comprised of major insurance carriers, enrollment vendors and third-party administrators — streamlines the insurance enrollment workflow, yielding significant benefits to all stakeholders,” Nish Sampath, the leader of MTBC’s clearinghouse and EDI business, which developed EnrollmentPlus. He continued, “Our new client is focusing its worksite benefit division’s growth towards the smaller employer market with under 250 members. They will be leveraging MTBC’s cloud-based EnrollmentPlus to facilitate fast and effective onboarding of its electronic enrollments for this target market as well as their existing large employer market. We believe the insurance industry is yearning for faster onboarding times, reduced data remediation costs, process visibility and powerful analytics — and we’ve developed a clearinghouse solution that will help accomplish these important objectives.”
The parties signed the EnrollmentPlus contract on September 26, 2017.
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 practicing in ambulatory care settings. Our integrated Software-as-a-Service (or 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 federal securities laws. 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 “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology.
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.
These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating 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.
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.
SOURCE MTBC Company and Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. firstname.lastname@example.org 732-873-5133