MTBC says top hospital client renews contract

Medical Transcription Billing Corp (NASDAQ:MBTC) said on Thursday that Pikeville Medical Center inc in Kentucky, one of its leading hospital clients, has renewed its contract with its subsidiary for another 12 months.

Pikeville Medical is a member of the Mayo Clinic Care Network and has provided care to Kentucky patients for nearly a century. The hospital operates a 300-bed facility and employs around 400 credentialed clinicians for patient services in most major specialties.

Somerset, New Jersey, based MTBC gives Pikeville Medical revenue-management services along with integrated customized IT modules, back-office support and consulting that enables it to maximize revenues and streamline workflows. 

MTBC had earlier announced on Wednesday its second-quarter results. It forecast second half 2018 revenue of about US$32 to US$33mln, nearly double the level it posted in the first half of 2018.

The company is a leading provider of cloud-based health care IT solutions and services.

Story by ProactiveInvestors