Leading provider of proprietary health care technologies Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) had a successful 2016, by any definition: it launched a new product, it once again received the recognition it deserves for its unique innovative health care software solutions, and it continued to rapidly expand its client base via strategic acquisitions and organic growth.
As part of its efforts to gain more clients and acknowledge its most loyal customers, the company launched a unique Client Loyalty Program designed to recognize and reward all health organizations, practices and physicians who have made a significant contribution to its growth. This one-of-a-kind loyalty program, launched a few months ago, awards a specific number of free shares based on each health care institution or practice’s contribution to MTBC growth, whether that means using the company’s products and/or referring other practices. More specifically, health care providers who continue to use MTBC services successfully each receive 100 shares of publicly traded common stock. Those who refer other medical practices receive an additional 1,000 shares. In addition, physicians using MTBC’s services can also nominate one of their staff members to receive 25 additional shares. Participation is open to all clients, including new ones.
The program was well received by the company’s customers, as both an investment opportunity and as recognition of their value to MTBC’s business growth. Since its inception in September 2016, the program has already enabled 50 loyal clients to become MTBC shareholders. The initiative was praised by MTBC President Stephen Snyder, who said his company was the first health care IT provider to offer such a loyalty program and that the overwhelmingly positive feedback it received validates its customers’ confidence in the company, its business model and its overall services.
In addition to the new Client Loyalty Program, Medical Transcription Billing also expanded its client base via strong organic growth, adding a total of 76 new customers last year, 35 of which were added in the last quarter. The company also completed four major acquisitions, designed to contribute to its sustained growth both in terms of number of clients and business coverage. The largest of these four acquisitions and the largest of MTBC’s acquisitions to date was Texas-based MediGain, LLC, a medical billing company.
In the coming year, Medical Transcription Billing plans on developing more initiatives to reward loyal customers. It’s all part of the company’s overall mission to leverage proprietary technology and a global team of professionals to serve a wide range of health care customers, from individual physicians to medium-sized practices, now covering 40+ states. The company offers one of the most comprehensive, fully-integrated suites of revenue cycle solutions, practice management, and electronic health records in the industry. All of the company’s integrated core technologies are also available on mobile devices via the mHealth option. MTBC’s technologies, in particular its Electronic Health Records system, rely heavily on the proprietary ChartsPro™ software, a comprehensive tool designed to improve the productivity of any health care organization, whether it’s a small practice or a large hospital.
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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