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 December 20, 2005

MTBC, Commerce Bank, and NJ Pure Announce the Success of the First Annual Medical Malpractice Forum

 

Somerset, NJ-December 20, 2005, -For the first time in the state of New Jersey, an expert panel was assembled to address the growing concerns of the state's physicians in regards to medical malpractice. With more than 120 people in attendance, emotions ran high as healthcare providers described their current crisis and frustration. Martin C. Hyman, MD, an OB/GYN of Union County, best described the sentiments of his colleagues in obstetrics and gynecology, "The politicians and public don't get it. The system is crumbling. OB/GYN's simply can't continue to practice anymore in New Jersey. The system is broken."

The unique forum was sponsored by Medical Transcription Billing, Corp., the 4% medical billing and free EMR company, in association with New Jersey Pure, the not-for profit New Jersey medical malpractice insurer, and Commerce Bank, the region's fastest growing financial services organization. It featured a panel comprised of State Senator Diane B. Allen, Assemblyman Upendra J. Chivukula, plaintiffs' attorney Rosemary Pinto, of Feldman & Pinto, and medical malpractice insurance expert Eric S. Poe, of NJPure.

An OB/GYN from Bergen County described the overall malpractice issue , "Health insurers pay us the same today as they did a decade ago, but our medical malpractice premiums continue to increase year after year. " This paradigm is transforming the healthcare services industry in ways that are unpleasant for physicians, and will soon be unpleasant for patients as well.

Dr. Henry David, an orthopedist from Cherry Hill, New Jersey also expressed his frustrations, "I was once a full service orthopaedic surgeon, but am now office based only. The premiums are out of control and I'm afraid no one is listening to us."

"Only the public gets hurt when physicians are forced out of medicine due to the rising costs of malpractice insurance," said Rosemary Pinto , Esq. of Feldman & Pinto.

"The forum was a success, but it is only the beginning," said David Rosenblum, president of MTBC. "We look forward to working together with Commerce Bank and NJPure to continue to provide physicians with a forum to voice their grievances to the people who can address their concerns. We are all committed to helping Physicians lower their cost of doing business in New Jersey. As a testament to our commitment, an interactive CD of the Forum will be mailed to each Legislator in New Jersey."

Free interactive CD's of the event can be requested from www.MTBC.com. MTBC will begin hosting an online discussion & message board for physicians to voice their feedback as well as get the latest news and information regarding medical malpractice risks and exposure.

Safe Harbor and Forward-Looking Statements

This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions of MTBC (the Company) that involve risks and uncertainties.

 
Contact:
David Rosenblum, President
Medical Transcription Billing, Corp.
Telephone: (732) 873-5133
Fax: (732) 873-6858
drosenblum@mtbc.com
 
<<Business Wire -- 12/20/2005>>


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