SOMERSET, N.J. , Oct. 04, 2017 (GLOBE NEWSWIRE) — MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based technology solutions today announced that one of the 10 largest insurance carriers in the United States has entered into a contract with MTBC to leverage MTBC’s EnrollmentPlus™ software-as-a-service (SaaS) solution.
“Our proprietary electronic data interchange (EDI) platform, EnrollmentPlus, is positioned to revolutionize group insurance enrollment through our unique clearinghouse engine,” said Bill Korn, MTBC Chief Financial Officer. He continued, “Our EnrollmentPlus SaaS solution is an outgrowth of our clearinghouse. Automating the processing and validation of enrollment is a new capability, and we are excited to welcome one of the nation’s top insurers as a new customer. We are excited to launch this new SaaS solution which could become an important new source of revenue for us.”
“EnrollmentPlus — which was developed in collaboration with MTBC’s ad hoc advisory council comprised of major insurance carriers, enrollment vendors and third-party administrators — streamlines the insurance enrollment workflow, yielding significant benefits to all stakeholders,” Nish Sampath, the leader of MTBC’s clearinghouse and EDI business, which developed EnrollmentPlus. He continued, “Our new client is focusing its worksite benefit division’s growth towards the smaller employer market with under 250 members. They will be leveraging MTBC’s cloud-based EnrollmentPlus to facilitate fast and effective onboarding of its electronic enrollments for this target market as well as their existing large employer market. We believe the insurance industry is yearning for faster onboarding times, reduced data remediation costs, process visibility and powerful analytics — and we’ve developed a clearinghouse solution that will help accomplish these important objectives.”
The parties signed the EnrollmentPlus contract on September 26, 2017.
About MTBC
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 practicing in ambulatory care settings. 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.”
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SOURCE MTBC Company and Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. bkorn@mtbc.com 732-873-5133
