iCoreConnect Reports 136% Increase in Q3 2020 Revenue
WINDERMERE, FL, Nov. 18, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — iCoreConnect, Inc. (OTCQB:ICCT) reports financial results for the three and nine-month periods ending September 30, 2020. iCoreConnect is a cloud-based, Software as a Service (SaaS) company focused on increasing profit and operational speed in healthcare. iCoreConnect is most notably known for its innovation in solving business problems for dental and medical providers.
- Q3 2020 net revenues increased 136% compared to the Q3 2019
- Q1-Q3 2020 net revenues increased 86% compared to Q1-Q3 2019
- Recurring revenue composed the majority of net revenue growth
“The first three quarters of 2020 have allowed iCoreConnect to display the performance and market acceptance of our iCoreRx e-Prescribing software,” states iCoreConnect President and CEO Robert McDermott. “In addition to directly increasing monthly recurring revenue, iCoreRx’s performance has also led to an expansion of our HIPAA-compliant email iCoreExchange. Many customers first commit to iCoreRx and then opt to add iCoreExchange.”
iCoreRx e-Prescribing software not only allows healthcare providers to comply with a surge of state laws throughout the U.S. regarding Electronic Prescribing for Controlled Substances (EPCS),it provides a multitude of features that doctors use to speed their daily processes while combating challenges posed by the opioid and pain killer epidemic. Doctors gain instant access to detailed drug information, including dosing options, contraindications, and discontinued meds. The software also displays patient prescribing history to the doctor, removing patient burden to remember and accurately relay all medications the …