SOMERSET, N.J., July 18, 2018 (GLOBE NEWSWIRE) — MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based healthcare IT and practice management solutions, today announced that New York based Universal EHR Solutions, also known as MD Charts, will be connecting to MTBC’s blockchain, marking an early milestone in MTBC’s effort to build a national healthcare blockchain network. Universal EHR Solutions will also be partnering with MTBC’s development team as Universal EHR Solutions progresses toward Meaningful Use stage 3 certification.
“Last month, we announced the release of our new healthcare blockchain technology and today we’re pleased to announce that Universal EHR Solutions will be joining as a premier member of our healthcare blockchain network,” said A. Hadi Chaudhry, MTBC President. “Our vision is to create a comprehensive network that will support the secure and efficient storage and exchange of electronic patient data and we’re very pleased to have Universal EHR Solutions join this initiative. We also look forward to supporting them as they prepare for Meaningful Use stage 3 certification and integrate our revenue cycle and practice management system with their platform.”
Aaron Wachspress, Universal EHR Solutions’ Founder and Chief Technology Officer, said, “We have been providing leading-edge healthcare IT solutions to New York based providers since 2002, and look forward to incorporating blockchain technology and stage 3 related functionality in our EHR. These developments will allow our clients to have the latest security technology available therefore affording their patients the best possible care, and, we are very pleased to be partnering with MTBC.”
As previously announced, MTBC has incorporated blockchain technology into its electronic health records (“EHR”) platform and seeks to build a network that will enable the secure storage and sharing of patient medical information, reduce interoperability issues that have plagued the digitization of healthcare for years, and provide patients with the control they need to decide who can access their health data. Universal EHR Solutions is the first EHR vendor to commit to connecting to MTBC’s blockchain, and the parties expect the blockchain connection to be in production by Q4 2018.
In addition to providing blockchain network access and revenue cycle management services to Universal EMR Solutions’ providers, MTBC will be advising Universal’s engineers regarding Meaningful Use certification. The partnership is a strong strategic fit, leveraging the two companies’ respective strengths across three main areas: MTBC’s revenue cycle management services, MTBC’s innovative blockchain network, and Universal’s EHR solution.
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. 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.”
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