Boulder, CO (PRWEB) July 31, 2009
MD-IT, a national provider of medical documentation services and software for physician offices and ambulatory clinics, announced today that it has acquired Transcription Prescription, Inc. of Dallas Texas. The company was acquired for a combination of cash and stock, and will become part of MD-IT's existing Dallas office. Transcription Prescription owner William Winrow has joined MD-IT as a director of business development.
"Medical documentation is shifting from paper to a technology industry, and we wanted to be part of a cutting edge company," stated Mr. Winrow. "MD-IT has developed a web-based electronic medical record (EMR) system, and we think the web-based segment of the market is getting ready to explode. The physicians we serve can move to meaningful use of EMRs gradually, without disrupting their practice and without making a big up front capital investment." MD-IT uses a software-as-service pricing model, under which practices pay a monthly fee for services and technology.
"We welcome Transcription Prescription clients and employees to MD-IT," stated Thomas Carson, president and CEO of MD IT. "Texas has over 40,000 practicing physicians, making it the third most populous state in the US for medical practices, and we look forward to expanding our services to this large community."
MD IT is the largest company serving physician offices and ambulatory clinics nationwide, a market estimated at $7 billion of the $10 billion spent annually on medical documentation services in the US. Hospitals account for the remaining $3 billion. MD-IT's medical documentation software and service enables physicians to spend more time with patients and family, and less time on the paperwork required to document patient visits.
MD-IT provides medical documentation services and software to 5,500 physicians and clinicians in over 840 medical practices and hospitals throughout the United States. The company combines the benefits of local office ownership with the resources of a national company to offer personalized service supported by leading technology. The privately held company is located in Boulder, CO, with regional offices in Colorado, Florida, Indiana, Kentucky, Maine, Maryland, Minneapolis, Oregon, Texas and Washington. Additional information can be found at md-it.com.
President and CEO, MD IT
Vice President, MD-IT