MTBC Announces Renewal of Top Hospital Client Contract
SOMERSET, N.J., Aug. 09, 2018 (GLOBE NEWSWIRE) -- MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of cloud-based healthcare IT and revenue cycle management solutions, today announced that Pikeville Medical Center, Inc. (“Pikeville”), a top MTBC hospital client, has recently renewed its contract with MTBC’s subsidiary (MTBC and its subsidiaries referred to herein as “MTBC”) for at least an additional 12 months.
Pikeville, a member of the Mayo Clinic Care Network, has been dedicated to providing the highest quality of care to Kentuckians for almost a century. The hospital operates a 300-bed facility and employs approximately 400 credentialed clinicians, providing patient services in most major specialties and most subspecialties.
MTBC’s relationship with Pikeville began in late 2016. In addition to revenue cycle management services, MTBC provides Pikeville with integrated customized IT modules, back-office support and consulting that collectively enable it to maximize revenues and streamline workflows.
With MTBC’s recent acquisition of the assets of Orion Healthcorp, Inc. and certain related entities, it has further extended its footprint in the community hospital space and expanded the scope of its service offerings. In addition to physician revenue cycle management, MTBC now provides consulting services, onsite patient eligibility and registration support, and related services to community hospitals.
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."
For additional information, please visit our website at www.mtbc.com.
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We cannot provide any assurances that the transaction described in this press release will be consummated, or that if consummated, it will be consummated on the terms as described in this press release.
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Company and Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. firstname.lastname@example.org 732-873-5133
Released August 9, 2018