OCOEE, FL - iCoreConnect Inc. (NASDAQ: ICCT), a cloud-based software and technology company, has announced the expansion of its collaboration with the Michigan Dental Association (MDA), endorsing two additional iCoreConnect products. This development, revealed today, strengthens the existing relationship between the two entities, aiming to enhance workflow productivity for MDA members.
The newly endorsed products, iCoreCodeGenius and iCoreClaims, are designed to streamline clinical and business management tasks within dental practices. iCoreCodeGenius offers cloud-based documentation of medical codes, while iCoreClaims provides practices with U.S.-based billing specialists to improve reimbursement rates and minimize claim denials.
Robert McDermott, CEO & President of iCoreConnect, expressed enthusiasm for the expanded collaboration, emphasizing the company's commitment to delivering high-quality products and services tailored to the needs of their customers. Reva Darling, Director of MDA Services and Marketing, highlighted the benefits of the endorsed products, citing their ability to provide safer, faster, and more efficient practice management solutions.
The strategy of securing endorsements from State Dental Associations is central to iCoreConnect's growth. Following an endorsement, the company engages in co-branded marketing campaigns with the associations to promote the endorsed products through various communication channels.
iCoreConnect is recognized for its suite of enterprise and healthcare workflow applications, with a portfolio of 16 SaaS enterprise solutions and over 100 product endorsements from healthcare associations nationwide.
The information in this article is based on a press release statement from iCoreConnect Inc.
InvestingPro Insights
In light of iCoreConnect Inc.'s recent announcement of expanding their collaboration with the Michigan Dental Association, investors and industry watchers are closely monitoring the company's financial health and stock performance. The InvestingPro data presents a mixed picture for iCoreConnect, with noteworthy metrics that could influence investor decisions.
The company's market capitalization stands at $13.79 million, reflecting its size within the technology and healthcare software sector. Despite a challenging period, evidenced by a Price to Earnings (P/E) ratio of -21.63, the company has shown a strong return over the last three months, with a price total return of 42.57%. This rebound may signal confidence from certain segments of the investor community.
However, it's important to consider that iCoreConnect has not been profitable over the last twelve months, and the stock has experienced a significant drop over the past year, with a 1-year price total return of -86.8%. Additionally, the company's short-term obligations exceed its liquid assets, which could present liquidity challenges.
An InvestingPro Tip suggests that the stock has taken a big hit over the last six months, with a 6-month price total return of -78.92%. This could be a point of concern for potential investors looking for stability in their investments. On the other hand, the company's recent positive momentum could indicate a potential turnaround, as highlighted by another InvestingPro Tip mentioning the strong return in the last quarter.
For those interested in more in-depth analysis and additional InvestingPro Tips, consider visiting https://www.investing.com/pro/ICCT for further insights. There, you'll find a comprehensive list of tips that can guide your investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering you even more valuable insights to help navigate your investments.
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