October 20, 2009
MTBC Ranked Number 206th Fastest Growing Company in North America on Deloitte’s 2009 Technology Fast 500TM
MTBC attributes its 649 percent revenue growth to consistent delivery of technology solutions to healthcare practices nationwide.
Somerset, NJ, September 20, 2009 — MTBC today announced that it ranked number 206 on Technology Fast 500TM, Deloitte LLP’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004–2008. MTBC grew 649 percent during this period.
MTBC’s CEO, Mahmud Haq, credits a commitment to innovative technology solutions with the company’s 649% revenue growth over the past five years. He said, "We are honored to be listed among the fastest growing technology companies in North America. This distinction speaks to the compelling nature of the software and services we provide which address the needs of healthcare providers.”
“Technology Fast 500TM recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth,” said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate MTBC on this accomplishment."
“With its impressive five-year growth, MTBC has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America,” said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. ”Deloitte is proud to honor MTBC for its achievement.”
Technology Fast 500TM provides a ranking of the fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500TM website, and public company database research conducted by Deloitte. Technology Fast 500TM award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
Deloitte’s 2009 Technology Fast 500TM Media Guidance 4
In order to be eligible for Technology Fast 500TM recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500TM award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
ABOUT MTBC
Founded in 1999 and based in Somerset, NJ, MTBC performs practice management and provides EMR software for physician offices and hospitals. Its integrated Premium Plan, billed at only 5% of collections, presents a service suite unmatched in the industry for its scope and value. Features include MTBC EMR 4.0 provided and supported at no charge, a practice website with patient scheduling, automated appointment reminders, e-prescribing, lab connectivity, real-time insurance eligibility verification. These features augment MTBC’s web-based billing platform, which includes practice management tools, financial reporting capabilities, online patient scheduling and office forms, and online access to billing and scheduling information. To learn more about MTBC, please visit www.mtbc.com.
CCHIT® is a registered mark of the Certification Commission for Healthcare Information Technology.
About Deloitte
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