Medical Transcription Billing, Corp. (MTBC)

[MissionIR]

MTBC Set for Growing Healthcare IT Market

According to the report “Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, mHealth, Telehealth, Healthcare analytics, Supply Chain Management, Revenue Cycle Management, CRM, Claims Management, Fraud Management) by End User (Provider, Payer) – Global Forecast to 2020” (http://dtn.fm/vWgw3), the Global Healthcare IT Market is expected to grow to $228.8 billion by 2020 at a compound annual growth rate (CAGR) of 13.4%.

Much of this expected growth has been put down to the fact that healthcare providers are starting to add more healthcare IT solutions in order to meet and stay up-to-date with regulatory and legal requirements put in place for the safety and care of patients. In addition, healthcare costs continue to rise, and these solutions allow healthcare organizations to offer better quality healthcare while remaining operationally efficient.

According to the report, North America and Europe will account for the majority of shares of the global healthcare IT market, thanks to technological competencies in the healthcare industry, along with well-established HCIT infrastructures. In the U.S. alone, there is a wide range of large and small companies providing diverse administrative and technological support services to the healthcare industry, such as Rennova Health, Inc. (NASDAQ: RNVA), and Accretive Health, Inc. (OTC: ACHI).

Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP), an award-winning healthcare information technology company that offers “physician practices a comprehensive product portfolio of fully integrated WebEHR, revenue cycle and practice management solutions and other related business services including transcription and data management,” is seen as being especially well positioned to take advantage of the anticipated growth. With a strong focus on R&D and innovation, MTBC is constantly developing new solutions to disrupt the healthcare IT industry, including a suite of mobile health apps for use by physicians and patients.

MTBC has been assigned an average broker rating score of 1.00, representing a Strong Buy rating. The company also recently closed its largest acquisition: MediGain, LLC and its affiliate, Millennium Practice Management, LLC. This is the company’s largest acquisition of revenue cycle management customer accounts ever, enabling it to expand its client database. MTBC believes the combination of its current position within the market and its acquisition of substantially all of the assets of MediGain, LLC and Millennium Practice Management, LLC will allow it to show significant revenue growth for the coming year.

For more information, visit the company’s website at www.MTBC.com