MTBC

MTBC
Public
Traded as NASDAQ: MTBC
Industry Healthcare IT
Founded 1999
Founder Mahmud Haq
Headquarters New Jersey, U.S.
Key people
 Mahmud Haq (Executive Chairman), Stephen Snyder (CEO), Bill Korn (Chief Financial Officer), A. Hadi Chaudhry (President), Shruti Patel (General Counsel), Norman Roth (Controller), Loraine Goetsch (Division President), Howard L. Clark, Jr. (Director), Cameron P. Munter (Director), John Daly (Director), Anne M. Busquet (Director)
Products Electronic Health Records
Practice Management
Medical billing
Mobile Applications
ICD 10
Number of employees
 2,000+
Website mtbc.com

MTBC, Medical Transcription Billing, Corp., is a publicly traded healthcare IT company that provides electronic health record software and technology-based medical billing, transcription and practice management services to healthcare providers in the United States.[1] MTBC is headquartered in Somerset, NJ, USA and runs an operational facility in Rawalpindi, Pakistan through its subsidiary, Medical Transcription Billing Company (Pvt.) Ltd.[2][3]

History

MTBC began operations as a medical billing company specializing in electronic claim services for healthcare providers primarily located in NJ. The Company attained tremendous growth and on April 1, 2002, through an affiliate company, started an operational facility in Islamabad, Pakistan to help manage new business resulting from its rapid growth.[4] The affiliate company, Medical Transcription Billing Company (Pvt.) Ltd., was later officially incorporated under the laws of Pakistan on January 16, 2004. Medical Transcription Billing Company (Pvt.) Ltd. is now a fully owned subsidiary of MTBC.[5][6]

MTBC soon developed a fully integrated suite of services that includes a proprietary practice management platform, ONC-ACB, meaningful use stage 2 certified complete electronic health records software and a revenue cycle management service.[7][8]

For four consecutive years, MTBC was recognized as one of the fastest growing companies in the United States Inc. 500|5000 and Deloitte Technology Fast 500.[9][10] In 2012, MTBC was nominated for the US Secretary of State’s Award for Corporate Excellence. On June 6, 2013, former ambassador to Pakistan, Cameron Munter joined MTBC’s Board of Directors.[11]

After years of rapid growth, MTBC announced an initial public offering of its common stock on July 22, 2014.[12] The offering was completed on July 28, 2014, at an offering price of $5 per share. It now trades on the NASDAQ exchange under the symbol MTBC.[13][14]

MediGain Acquisition

On October 3, 2016, MTBC acquired Medigain's assets, including customer accounts, intellectual property, offshore operations in India and Sri Lanka and its subsidiary, Millennium Practice Management, LLC based out of New Jersey, which had annual revenue of more than $10 million from its clients in good standing.[15]

References

  1. ↑ "KLAS Research Vendors Profile". KLAS. Retrieved 27 February 2014.
  2. ↑ "Making global move". Retrieved 27 February 2014.
  3. ↑ "US Embassy Pakistan News". Retrieved 27 February 2014.
  4. ↑ Jordan, George. "Making a global move". Retrieved 28 April 2014.
  5. ↑ "Dynamic healthcare IT organization dishing out employment opportunities". Retrieved 28 April 2014.
  6. ↑ "Ambassador Munter Commends Rawalpindi's Top Business Leaders for Creating Business Opportunities in Pakistan". Retrieved 28 April 2014.
  7. ↑ "Business week listing". Business Week. Retrieved 27 February 2014.
  8. ↑ "MTBC WebEHR2.0 achieves 2014 edition complete Healthcare IT certification". Retrieved 27 February 2014.
  9. ↑ "INC. Listing". INC. Retrieved 27 February 2014.
  10. ↑ "Deloitte Listing" (PDF). Archived from the original (PDF) on 4 May 2013. Retrieved 27 February 2014.
  11. ↑ "MTBC Appoints Former U.S. Ambassador to Board of Directors". Retrieved 28 April 2014.
  12. ↑ "Initial Public Offering". Retrieved 1 August 2014.
  13. ↑ "Closing of Initial Public Offering". Retrieved 1 August 2014.
  14. ↑ "Nasdaq Profile". Retrieved 1 August 2014.
  15. ↑ Korn, Bill (2016-10-19). "Explaining MTBC's Acquisition Of MediGain". Seeking Alpha. Retrieved 2017-02-14.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.