Here’s Why Medical Transcription Billing Corp (MTBC) Shares Skyrocketed
It’s a very rewarding trading day for Medical Transcription Billing Corp (NASDAQ:MTBC) investors with shares up over 60%, making the stock Wall Street’s bull of the day. The reason: the healthcare IT firm announced that it has successfully developed Health Information Exchange (HIE) interfaces for interoperability between its highly ranked clinical platforms and leading hospitals including Torrance Memorial Medical Center and NYU Langone Medical Center.
The recent HIE interfaces expand the reach of MTBC’s platform by affording MTBC’s clients the flexibility of seamlessly exchanging clinical information between MTBC’s clinical platform and popular third-party EHR systems. Furthermore, the interfaces will result in elimination of unnecessary paperwork; increased patient engagement; reduced clinical errors; and effective public health reporting and monitoring. The new HIE interoperability between the systems will provide caregivers with clinical decision support tools for more effective care and treatment, resulting in improved healthcare quality.
Phillip E. Darragh, D.P.M., from the Redondo Beach Podiatry Group, Inc., said, “The technical staff at MTBC have been doing an outstanding job in connecting us to our hospital’s new health information exchange.” As a result of this connectivity, Dr. Darragh and other providers will have a more comprehensive view of their patients’ medical history at the point of care and be able to focus more of their time on caring for patients and less on administrative tasks.
While commenting on the new developments, Adeel Sarwar, MTBC CTO stated, “Our in-house team has the bidirectional and hospital-ambulatory connectivity capabilities to help streamline workflows and communications between different EHRs.” He added, “The most recent HIE interfaces will allow us to further expand the reach of MTBC’s platforms throughout the U.S. healthcare system.”
Medical Transcription Billing Corp. is a healthcare information technology company, which provides integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. Its services include revenue cycle management, electronic health records, practice management solutions and related tools, and Mobile Health solutions.