Medical Transcription Billing Corp (NASDAQ:MTBC) is a leading provider of mHealth and cloud-based clinical and practice management solutions, recently announced that it has successfully developed Health Information Exchange interfaces for interoperability between its highly ranked clinical platforms and leading hospitals including Torrance Memorial Medical Center and NYU Langone Medical Center.
The recent HIE interfaces expand the reach of MTBC’s platform by affording MTBC’s clients the flexibility of seamlessly exchanging clinical information between the company’s clinical platform and popular third-party EHR systems. Furthermore, the interfaces will result in elimination of unnecessary paperwork; increased patient engagement; reduced clinical errors; and effective public health reporting and monitoring. The new HIE interoperability between the systems will provide caregivers with clinical decision support tools for more effective care and treatment, resulting in improved healthcare quality.
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$MTBC 10-Day Chart Below:Phillip E. Darragh, D.P.M., from the Redondo Beach Podiatry Group, Inc., said, “The technical staff at MTBC have been doing an outstanding job in connecting us to our hospital’s new health information exchange.” As a result of this connectivity, Dr. Darragh and other providers will have a more comprehensive view of their patients’ medical history at the point of care and be able to focus more of their time on caring for patients and less on administrative tasks.
While commenting on the new developments, Adeel Sarwar, MTBC CTO stated, “Our in-house team has the bidirectional and hospital-ambulatory connectivity capabilities to help streamline workflows and communications between different EHRs.” He added, “The most recent HIE interfaces will allow us to further expand the reach of MTBC’s platforms throughout the U.S. healthcare system.”
The company also announced the signing of two new clients last week who are expected to generate more than $1 million in combined, recurring, annual revenues, starting in third quarter 2017, marking a record day of new business signings for MTBC.
“We’re very pleased to welcome these new clients, who are regional leaders in their respective specialties of pain management and orthopedics,” said Karl Johnson, MTBC SVP, Sales and Marketing. He continued, “Yesterday was a record day of closings for us and we’ll continue expanding our reach into new markets as we enable healthcare providers to optimize revenues, while reducing operating costs.”
During fourth quarter 2016, MTBC closed its largest acquisition to-date and simultaneously launched a new organic growth initiative. As part of this initiative, MTBC hired experienced healthcare sales leaders, expanded its universe of cross-marketing partners, and is on track to attend more than 20 industry conferences during 2017.
“We’re excited to see MTBC’s new growth initiative begin to generate a strong return on our investment,” said Stephen Snyder, MTBC President. He continued, “We believe we’re positioned to achieve significant year-over-year revenue growth during 2017, while generating positive adjusted EBITDA for full year 2017.”
Shares in MTBC (NASDAQMKTS:MTBC) have had good news no doubt, but there seems to be another driver other than this news. It usually comes with a flurry of short term trading where investors take advantage of momentum trading for this healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions.
The revenue number may have a hard time matching the outsized prices for this momentum play. MTBC has some real progress in the last few quarters tweaking the investor base who trade both short and long term, we will see how the stock trades once the momentum players exit the scene. For more news on $MTBC and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.