New offering to further accelerate cost optimization for Healthcare IT vendors & medical billing companies
SOMERSET, N.J., July 01, 2020 (GLOBE NEWSWIRE) -- MTBC, Inc. (MTBC) (MTBCP), a leading provider of cloud-based healthcare IT solutions and services, announced today that Robotic Process Automation (RPA) solutions are now available to MTBC Force healthcare IT, Revenue Cycle Management (RCM) and medical billing company partners as a result of MTBC’s recent Meridian Medical Management (Meridian) acquisition. RPA ‘Microbots’ replace mundane, repetitive processes, enabling operational efficiency and increased quality at scale.
“MTBC’s RPA automates processes with an army of dedicated digital assistant microbots programmed to review and assess every step of the revenue lifecycle,” said A. Hadi Chaudhry, President of MTBC. “Microbots automatically assess claims, denials, eligibility requirements, authorizations, and contractual payments to identify errors, locate inefficiencies, compare payer contracts, and reconcile irretrievable balances.”
In the next three years, 50% of U.S. healthcare providers are expected to invest in RPA, according to Gartner. Meridian has enabled MTBC and its MTBC Force partners to jump ahead of this projected curve through the deployment of its digital assistants, ‘Microbots’.
There is a growing need among healthcare providers and vendors alike to further streamline RCM processes and reduce operating costs, all while delivering better results. This need to optimize clinical, financial, and administrative workflow is why MTBC, with its strategic acquisition of Meridian, has introduced a suite of RPA solutions designed to further enhance the service capacity, technology offerings, and profitability of RCM and healthcare IT vendors.
“The immediate availability of these powerful automation capabilities is transformative,” said Karl Johnson, Division President of MTBC Force. “The automation of routine tasks eliminates the time-wasting, error-prone processes that typically result from manual entry. These RPA capabilities, coupled with our existing workforce augmentation and software solutions, give our partners even more ability to grow cost-effectively.”
RPA solutions are immediately available to MTBC Force partners. RPA is powered by Meridian Medical Management, a former GE healthcare IT company, that was acquired by MTBC on June 16, 2020. For additional information regarding the acquisition of Meridian, read the full press release.
To learn more about MTBC Force, visit https://www.mtbc.com/products-services/mtbc-force.
MTBC is a healthcare information technology company that provides a full suite of proprietary cloud-based solutions, together with related business services, to healthcare providers and hospitals throughout the United States. Our Software-as-a-Service (or SaaS) platform includes revenue cycle management (RCM), practice management (PM), electronic health record (EHR), telehealth and patient experience management (PXM) solutions for high-performance medical groups. MTBC helps clients increase financial and operational performance, streamline clinical workflows, and make better business and clinical decisions, allowing them to improve patient care while reducing administrative burdens and operating costs. MTBC’s common stock trades on the Nasdaq Global Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the Nasdaq Global Market under the ticker symbol “MTBCP.”
For additional information, please visit our website at www.mtbc.com. To view MTBC's latest investor presentation, read press releases, and listen to interviews with management, please visit ir.mtbc.com.
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