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
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Sign up for “The Mission Report” at www.MissionIR.com
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