Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP) is one of many progressive firms vying to enter the U.S. ambulatory EHR/RCM (revenue cycle management) market, which is valued at more than $13 billion. “Currently, there are at least 1,500 companies offering RCM services in this highly competitive arena. None commands more than 10 percent of market share. The largest, athenahealth (NASDAQ: ATHN), has about 7% of the market. With annual revenues that are likely to exceed $1.0 billion this year, the market value of its equity is close to 4x revenues. Its stock currently trades at around $93.00. This makes MTBC look seriously undervalued. According to its recently filed 10-Q, revenues for the nine months to September 30, 2016, were $15.7 million. It is quite likely, then, that full year revenues will cross the $20 million mark. With market cap at around $10 million, the price to sales ratio is a paltry 0.5x. Even taking into account Athena’s larger size, it seems the market has not fully taken notice of MTBC, whose common shares are currently trading at under $1.00.”
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About MTBC
Medical Transcription Billing, Corp. is a healthcare information technology company that provides a fully integrated suite of proprietary web-based and mobile health solutions, together with related business services, to healthcare providers throughout the United States. Our integrated Software-as-a-Service (or SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC’s common stock trades on the NASDAQ Capital Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol “MTBCP.” For more information on MTBC, please visit www.mtbc.com
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