Somerset, NJ, Sept. 23, 2011 (GLOBE NEWSWIRE) -- MTBC, a leading provider of electronic health record, practice management and revenue cycle management services to private physician groups and hospital-based providers throughout the United States, today announced the appointment of David Rosenblum as vice chairman of the company’s board of directors, Stephen Snyder as president, and Brendan Harney as vice president, mergers & acquisitions.
Prior to his promotion to vice chairman, Mr. Rosenblum served as MTBC’s president since 2003. As vice chairman of the board of directors, Mr. Rosenblum will be focusing on corporate strategy and will be integral to the company’s planning for an anticipated public offering. "We are excited about the strategic role that David will play as vice chairman as he continues to be an essential part of our dynamic team." said Mahmud Haq, CEO.
Mr. Snyder has been promoted to the position of president of MTBC. Mr. Snyder joined MTBC in September of 2005, as MTBC’s vice president and general counsel and he was promoted to serve as the company’s chief operating officer in January of 2009, a position that he has held through the present day. In his new role, Mr. Snyder will expand on the organic growth strategies that have helped make MTBC a leading provider of healthcare technology solutions. He will oversee MTBC’s broad array of services - delivered by more than 1,000 employees - to a diverse group of healthcare providers throughout the US.
"The healthcare industry is in the midst of an unprecedented change and we believe that we are uniquely positioned to be the practice management partner of choice for providers throughout the country as we help them leverage our proprietary, integrated software platforms and services to improve their bottom lines and enhance patient care and workflows." explained Mr. Snyder. "We also expect to be able to accelerate our acquisition campaign as the traditional business models prevalent in our industry become unsustainable under the weight of downward price pressure, increasing labor costs and the imminent need to make costly investments in new technology."
Brendan Harney joined MTBC in 2010 as an associate general counsel practicing mainly in the fields of healthcare compliance, corporate finance and mergers & acquisitions. As vice president of mergers and acquisitions, Mr. Harney will be spearheading MTBC’s campaign to find, attract, and acquire companies offering complementary or competing services.
"With more than 6,000 companies in the revenue cycle management and HIT space, consolidation in the industry presents unique opportunities for those that are flexible enough to adapt to these monumental industry changes," said Mr. Harney. Further, Mr. Harney explained, "MTBC’s strategy in aggressively pursuing acquisitions will no doubt further cement our place as an industry leader."
About MTBC
Founded in 1999 and based in Somerset, New Jersey, MTBC performs practice management and provides EHR software for physician offices and hospitals. Its integrated premium plan, MTBC PracticePro™, billed at only 5% of collections, presents a service suite unmatched in the industry for its scope and value. Features include a CCHIT-Certified EHR provided and supported at no charge, a practice website with patient scheduling, automated appointment reminders, e-prescribing, lab connectivity, and real-time insurance eligibility verification. MTBC was recently recognized by both Deloitte LLP and Inc. magazine as one of the fastest growing companies in North America. To learn more about MTBC, please visit www.mtbc.com.