Type Public Industry Healthcare IT CEO Mahmud Ul Haq (1999–) Number of employees 1,800 | Traded as NASDAQ: MTBC Founder Mahmud Haq Founded 1999 | |
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Key people Stephen Snyder (President), Bill Korn (Chief Financial Officer), Howard L. Clark, Jr. (Director), Cameron P. Munter (Director) Products Electronic Health Records
Practice Management
Medical billing
Mobile Applications
ICD 10 Headquarters Somerset, New Jersey, United States Subsidiaries Softcare, Mtbc Acquisition, Corp. Profiles | ||
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. MTBC is headquartered in Somerset, NJ, USA and runs an operational facility in Rawalpindi, Pakistan through its subsidiary, Medical Transcription Billing Company (Pvt.) Ltd.
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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 Rawalpindi, Pakistan to help manage new business resulting from its rapid growth. 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.
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.
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. 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.
After years of rapid growth, MTBC announced an initial public offering of its common stock on July 22, 2014. 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.
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.