Medical Transcription Billing Corp. (MTBC)

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Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Tue Nov 01, 2016 10:49 am

MTBC Investors Relations Kit Available

22-Page MTBC Investors Relations Kit is Now Available Online:
http://mtbc.qualitystocks.net/ir/
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Tue Nov 01, 2016 3:14 pm

Medical Transcription Billing, Corp. (MTBC) to Release Third Quarter Results Late Next Week

Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) announced plans to release its third quarter financial results for the three-month period ended September 30, 2016, before the market opens on Thursday, November 10. Following the release, MTBC plans to host a conference call for investors in order to review highlights from its quarterly results, including the recent acquisition of MediGain, LLC and its affiliate, Millennium Practice Management, LLC.

The conference call will take place on November 10 at 8:30 am EDT. To access the call, investors should dial 844-802-2438, or 412-317-5131 for international callers, and reference “MTBC Third Quarter 2016 Earnings Call.” A replay of the conference call will be available roughly one hour after the conclusion of the call and can be accessed by dialing 877-344-7529, or 412-317-0088 for international callers, and providing access code 10095250. Alternatively, an audio recording of the conference call will be made available on the company’s investor relations website (ir.mtbc.com) through the end of the year.

To date in 2016, MTBC has leaned on its integrated cloud-based technology platform and sizable international workforce to distinguish itself in the competitive health care IT market. In a recent interview with NetworkNewsWire, Bill Korn, chief financial officer of MTBC, spoke to some of the company’s main accomplishments in 2016. Specifically, MTBC delivered its third consecutive quarter of positive Adjusted EBITDA during the second quarter of 2016, raised $7.5 million of non-convertible preferred stock and closed on its tenth and largest acquisition since its IPO in 2014.

Among these achievements, the MediGain acquisition, in particular, is expected to be transformative for MTBC. Completed for a total purchase price that represented a “significant discount as compared to the industry norm of at least one times annualized revenues for a company of MediGain’s size,” Korn noted that “the incremental profits for this acquisition are expected to greatly exceed the company’s cost of capital,” making it accretive to shareholders as early as the first quarter of 2017. Supporting this forecast, the accounts in good standing acquired through the transaction have annual revenues in excess of $10 million.

“[W]e are very pleased to have acquired MediGain, which marks an important corporate milestone as our largest acquisition to date, and demonstrates the highly strategic nature of our successful, acquisition-based growth strategy,” Mahmud Haq, chief executive officer of MTBC, stated in a recent news release.

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Tue Nov 08, 2016 4:55 pm

Medical Transcription Billing, Corp. (MTBC) Goes HITECH with ChartScribe

Snuggled away under Title IV of the American Recovery and Reinvestment Act of 2009, Congress’ response to the Great Recession was the Health Information Technology for Economic and Clinical Health (HITECH) Act. Among other things, the HITECH Act provided incentives for providers of medical services to adopt electronic health records (EHR) through ‘Meaningful Use’ (MU). Although primarily aimed at stimulating economic activity and creating jobs, the framers of the law hoped that the application of information technology to the provision of medical services would improve healthcare. Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP), through its integrated digital transcription and patient charting services, is showing how that can be done.

MTBC’s charting services are designed to help physicians generate accurate, timely patient charts and better manage their time. Providers can conveniently send in digital audio dictations, and MTBC transcribes complete patient charts directly to their EHR portal. A patient chart is a complete record of a patient’s key clinical data and medical history that includes demographics, vital signs, diagnoses, medications, treatment plans, progress notes, problems, immunization dates, allergies, radiology images, and laboratory and test results. With MTBC’s charting services, doctors, physician assistants and other medical professionals can have their audio patient progress notes transcribed and the information entered into the appropriate EHR.

The integrated charting services are a core part of MTBC’s proprietary EHR, ChartsPro, the adoption of which will not only make delivery of service more efficient, but allow practitioners to reach ‘Meaningful use’ standards. ‘Meaningful Use’, under the HITECH Act, is the use of certified EHR technology, like ChartsPro, to improve the quality and safety of healthcare. MU sets objectives that providers must meet in order to qualify for the Medicare, Medicaid, Children’s Health Insurance, and Health Insurance Marketplace programs administered by the Centers for Medicare & Medicaid Services (CMS).

MU objectives were set to roll out in three stages. The first stage had an implementation deadline of year-end 2012 and involved procedures and technology to capture data and share it. It was expected that, by that time, 80 percent of patients would have records that employed a certified EHR technology. In August 2016, a survey conducted by Medscape (http://dtn.fm/YR1ua), a free online resource for physicians and health professionals, found that 91 percent were currently using an EHR system but that, at the end of 2012, just 74 percent were.

Stage two, with an implementation deadline of year-end 2014, had two core objectives. Firstly, eligible professionals were being encouraged to text patients by using ‘secure electronic messaging to communicate with patients on relevant health information’; and, secondly, hospitals must ‘automatically track medications from order to administration using assistive technologies in conjunction with an Electronic Medication Administration Record (eMAR)’.

MTBC’s digital transcription and patient charting services are fully compliant with MU standards, and a new menu set objective in MU stage two is included. This allows progress notes to be created, edited and signed by the practitioner. Objectives and measures for Stage three include increased thresholds, advanced use of health information exchange functionality, and an overall focus on continuous quality improvement.

Curating patient data is important to the advance of medical science, but a doctor burdened by data collection is one with less time for patients. With the overload of documentation and clerical responsibilities brought on by EHR, having an integrated charting service such as that offered by MTBC is essential.

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Thu Nov 10, 2016 4:45 pm

Medical Transcription Billing, Corp. (MTBC) Announces Third Quarter Results

Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) announced its financial and operational results for the third quarter of 2016, including a review of the October acquisition of MediGain, LLC and subsidiary Millennium Practice Management, LLC, which was the company’s largest acquisition to date. Notably, MTBC’s revenues for the three-month period were $5.3 million, up from $5.2 million in the previous quarter. The company also achieved its fourth consecutive quarter of positive adjusted EBITDA, reporting $130,000 for the third quarter and $209,000 year-to-date.

“We are pleased to announce another quarter of quarter-over-quarter revenue growth,” Mahmud Haq, chairman and chief executive officer of MTBC, stated in this morning’s news release. “Even though we continue to report a GAAP net loss, which is largely a result of non-cash amortization and depreciation expense, we are proud to report four consecutive quarters of positive adjusted EBITDA.”

Perhaps MTBC’s most significant achievement in the third quarter, the acquisition of Texas-based medical billing company MediGain, LLC, including substantially all of its assets and its subsidiary, positioned the company to build on its recent financial momentum moving forward. In total, the accounts in good standing acquired through this transaction have annual revenues in excess of $10 million. At a purchase price of just $7 million, the MediGain acquisition is expected to be accretive to MTBC shareholders in 2017, as incremental profits are expected to greatly exceed cost of capital. The acquisition also expanded MTBC’s global workforce, adding experienced team members in North America, as well as talented, cost-effective workforces in Asia.

“The successful closing of this transaction has positioned MTBC to experience exponential growth through access to new, untapped markets,” Haq continued. “In turn, we expect to expand our client base and deliver significant revenue growth in 2017.”

MTBC also reiterated plans for an upcoming offering of additional shares of its non-convertible Series A Preferred Stock in this morning’s update. The company is currently preparing to file a registration statement to sell 400,000 additional shares of its 11 percent Series A Cumulative Redeemable Perpetual Non-Convertible Preferred Stock at a price of $25 per share. If all of the shares are sold, the offering will generate roughly $9 million, of which $5 million will be used for the remaining payments related to the MediGain acquisition. This offering is not dilutive to shareholders and is expected to play a key role in positioning MTBC for forward growth.

Following this morning’s release, MTBC management hosted a conference call to discuss the results. An audio webcast of the call will be made available to the investment community on the company’s investor relations website at http://ir.mtbc.com.

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Wed Nov 16, 2016 5:09 pm

Medical Transcription Billing, Corp. (MTBC) Recognized Among Deloitte’s Technology Fast 500™ for Sustained Revenue Growth

Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP) announced that it has been named among Deloitte’s Technology Fast 500™ based on its 130 percent revenue growth from 2012 to 2015. The Deloitte rankings list the fastest growing technology, media, telecommunications, life sciences and energy technology companies in North America across both the public and private sectors. Eligibility requirements for inclusion on the list include an operating history of at least four years, current-year operating revenues of at least $5 million and ownership of proprietary intellectual property or technology that’s sale or licensing accounts for a majority of the company’s operating revenues.

“As we celebrate our fifteenth year of business, we thank our customers and employees for enabling us to continue growing at a rate that even outpaces most early stage private and public companies,” Stephen Snyder, president of MTBC, stated in this morning’s news release. “Of the 500 companies ranked on Deloitte’s prestigious list in 2016, MTBC was among a smaller subset of the named companies that is publicly traded on NASDAQ and we are honored to be included among this group of market leaders.”

According to the company’s management team, MTBC’s sustained revenue growth is attributable to a combination of an industry-leading technology platform and a high quality, cost-efficient operations team that currently spans five countries and includes roughly 250 information technology and R&D professionals. The effectiveness of the company’s operations team is particularly noteworthy following MTBC’s recent acquisition of MediGain, LLC and affiliate Millennium Practice Management, LLC. In addition to purchasing accounts in good standing with annual revenues of more than $10 million as part of the strategic acquisition, the MediGain transaction added seasoned team members in North America and talented, cost-effective workforces in Asia to MTBC’s existing operations. Combined, these factors are expected to make this acquisition accretive to MTBC shareholders in 2017.

“We are greatly encouraged by the growth opportunities provided by our recent acquisition of MediGain,” Mahmud Haq, chairman and chief executive officer of MTBC, stated in a news release. “The successful closing of this transaction has positioned MTBC to experience exponential growth through access to new, untapped markets.”

Last week, MTBC offered shareholders an update on its recent performance through the release of its financial and operational results for the third quarter of 2016. The company’s revenues for the three-month period were $5.3 million, up from $5.2 million in the second quarter of this year. This result built on a trend of quarter-over-quarter revenue growth that has persisted throughout 2016. On a year-over-year basis, MTBC’s revenues were down slightly, which management attributed to a loss of clients from the businesses it acquired during the third quarter of 2014. The team discussed this trend in more detail as part of a conference call held last week. An audio webcast of the call is currently available for review on MTBC’s investor relations website.

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Thu Nov 17, 2016 4:47 pm

Medical Transcription Billing, Corp. (MTBC) mHealth Keeping Patients and Practices Constantly Connected

As part of its constant efforts to offer one of the most comprehensive suites of electronic health records, practice management and revenue cycle solutions on the market, Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) provides its customers with a comprehensive suite of mobile health applications designed to significantly improve patient engagement and give practices secure and consistent access to real-time information. The native mobile applications offered under the mHealth umbrella are designed for a wide variety of tablet devices and smartphones and are fully integrated with the company’s core suite of services and products.

One of the most inclusive apps is MTBC’s Personal Health Record (PHR) for Android and iOS devices. This app affords any medical practice’s patients direct access to their medical history and detailed health info, including lab reports, bills or claims. The PHR is safe and easy to use and also allows patients to schedule appointments and view their appointment history wherever they are and whenever they want to. Key features of the app include: flexibility in making appointments; easy access to a patient’s medical history, medications and immunization info; ability to process payments and track payment history; secure messaging between patients and their doctors; and the ability of having patients directly edit their personal details such as address or phone number.

Another app that gives practices access to clinical information anywhere and anytime is the MTBC iEHR – Electronic Health Records app for iOS, Android and Amazon devices. The app has a highly intuitive interface providing superior flexibility and functionality so as to access critical information at any time and subsequently improve safety and quality of patient care. With the iEHR, practices and patients can view upcoming and past appointments, review complete patient medical history including medication and hospitalization records, create and sign patient charts at the point of care, send prescriptions straight to pharmacy and create and submit bills.

Electronic prescribing of medication can actually improve patient safety and reduce deaths caused by possible prescription errors, as various studies have shown. With this in mind, MTBC developed the iRx app. Compatible with both Android and iOS devices, this app allows doctors to prescribe medications quickly using their smartphones or any other smart device. The app enables medical professionals to review any drug contraindications including interactions with other drugs, or whether they are right for a specific patient based on factors such as medical history, allergies, immunizations, and others. iRx also offers access to chart summaries and the possibility of viewing and replying to patient or office messages.

Practices struggling with rising administrative costs might be interested in the iCheckIn application for iPad – an app designed to automate and greatly simplify the patient check-in process. Offering more self-service options to patients, this application also allows for safe verification of insurance information and secure credit card payments. It enables patients to update their own information and review their payment history and balance, thus helping a practice achieve higher operational efficiency while saving time and money.

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
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Re: Medical Transcription Billing Corp. (MTBC)

Postby QualityStocks » Fri Nov 18, 2016 5:36 pm

Medical Transcription Billing, Corp. (MTBC) Announces Monthly Dividend on Series A Preferred Stock

Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP) announced that its board of directors has declared monthly cash dividends for its 11% Series A Cumulative Redeemable Perpetual Preferred Stock for December, January and February. These monthly dividends will be valued at roughly $0.23 per share, or 11% of the $25 per share liquidation preference, and will be made payable on the 15th day of the following month. The applicable record date for the newly-announced dividends will be the last day of the relevant calendar month.

News of the dividends comes just over a week after MTBC reported its financial results for the third quarter of 2016. Among the highlights from these results, the company reported its fourth consecutive quarter of positive adjusted EBITDA. Additionally, MTBC expanded upon its recent trend of quarterly revenue growth, recording $5.3 million for the three-month period. With revenue growth of 130 percent from 2012 to 2015, MTBC has established a position as one of the fastest growing technology companies in the country. This position was reaffirmed earlier this week when MTBC was named among Deloitte’s 2016 Technology Fast 500™, the fifth time since 2009 that the company has achieved this honor.

While MTBC’s third quarter revenue total was a mild decrease from the comparable period in 2015, a result that MTBC’s management team attributes to a loss of clients from subsidiaries purchased during the third quarter of 2014, the company has already positioned itself for forward growth through the October acquisition of MediGain, LLC and subsidiary Millennium Practice Management, LLC.

Noted as the company’s largest acquisition to date, the MediGain purchase included accounts in good standing with annual revenues of more than $10 million. When considered in combination with MTBC’s acquisition price of $7 million, the company’s management team expects the incremental profits from the transaction to exceed the cost of capital and therefore become accretive to shareholders in 2017. Other highlights from the MediGain acquisition include the addition of experienced new members to the MTBC team in North America and an expansion of its Asia-based staff to additional countries with talented, cost-effective workforces.

“We are greatly encouraged by the growth opportunities provided by our recent acquisition of MediGain. The successful closing of this transaction has positioned MTBC to experience exponential growth through access to new, untapped markets,” Mahmud Haq, chairman and chief executive officer of MTBC, stated in a recent news release. “In turn, we expect to expand our client base and deliver significant revenue growth in 2017.”

For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
The QualityStocks Daily Newsletter http://Newsletter.QualityStocks.net

The QualityStocks Daily Blogs http://Blog.QualityStocks.net

Please read FULL Compensation Disclosures and other disclaimers at http://www.qualitystocks.net/disclaimer.php
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