CareCloud

CareCloud was a privately held corporation and provider of cloud-based practice management, electronic health record, and medical billing software and services before their acquisition by MTBC.[1] The company operates in Boston, Massachusetts and from its headquarters in Miami, Florida.[2] CareCloud offers software-as-a-service and revenue cycle management (RCM) services to physicians in more than 50 specialties across 48 states.[3] CareCloud manages more than $4 billion in annualized accounts receivables on behalf of its RCM clients.[4]

Overview

Albert Santalo founded CareCloud on September 16, 2009. The company announced it raised $2.3 million in funding in January 2010.[5] CareCloud added another $20.1 million in Series A funding from Intel Capital and Norwest Venture Partners in September 2011.[6] In June 2014, the company secured an additional $25.5 million in new venture debt financing from Hercules Technology Growth Capita, bringing the total investment to $81.9 million since 2009.[7]

In November 2014, CareCloud joined the CommonWell Health Alliance, a non-profit organization dedicated to promoting interoperability among different electronic health records systems.[8] CareCloud's cloud-based software and service products include the central practice management software, charts electronic health record solution, and concierge revenue cycle management services.[9][10] Companion, the company's first mobile app was released in 2014.[11] The company also launched Advanced Analytics that same year.[12]

In October 2017, CareCloud along with First Data, launched Breeze that allows patients to flexibly view, manage, and pay for their treatment and this platform can be accessed both by web and mobile phones.[13]

In 2018, CareCloud has joined the Google Cloud Technology Partner Program, leveraging Google's healthcare API to extend its services to outpatient clients.[14]

In January 2020, MTBC acquired CareCloud Corporation for reportedly up to $40.5 million and implemented large-scale restructuring to make the entity profitable.[15]

Awards

In 2014, CareCloud ranked #28 on the Forbes 'Most Promising Companies' list.[16] The same year, CareCloud also debuted at #127 on the Inc. 500 list of Fastest Growing private companies.[17] CareCloud Chairman and CEO, Albert Santalo, won the 2014 Technology Executive of the Year Award from the Greater Miami Chamber of Commerce.[18]

gollark: You need a more coherent system for paying for works where it's hard to capture value than just "decide not to starve artists".
gollark: This is hard to distinguish. You can "make things" on a personal computer and such nowadays.
gollark: Interesting! I'm glad that's been resolved.
gollark: Which is possibly true in a lot of cases because of general-purpose computing abilities being slowly eroded, and interesting online platforms lacking (good) APIs, but still.
gollark: An issue with the Raspberry Pi and stuff for computing education is that they separate "programmable computers" and "normal computers" and might make people think they can't do interesting stuff with what they already have.

References
  1. "Bloomberg Business: Health Care Technology". Retrieved 12 March 2015.
  2. "Boston Globe: Web health records firm expands to Boston". Retrieved 12 March 2015.
  3. "Becker's Health IT & CIO Review. 15 things to know about CareCloud". Retrieved 12 March 2015.
  4. "Yahoo? Finance: CareCloud Concludes 2014 with Rapid Growth and Product Innovation, Driven by Large Medical Groups. February 3, 2015". Archived from the original on 22 April 2015. Retrieved 12 March 2015.
  5. "TechCrunch: CareCloud Raises $2.3 million for Web-Based Physician Practice Software Suite". Retrieved 12 March 2015.
  6. "Fortune: Venture Capital Deals, September 26, 2011". Retrieved 12 March 2015.
  7. "VentureBeat News: CareCloud Takes $25.5M in debt financing to expand medical group data". Retrieved 12 March 2015.
  8. "HITECH Answers. CommonWell Health Alliance Expands Interoperability Services, Signs up New HER Vendors". Retrieved 12 March 2015.
  9. "Miami Herald. Starting Gate: Q&A: CareCloud CEO Albert Santalo reflects on year of fast growth, looks ahead. January 12, 2014". Retrieved 12 March 2015.
  10. "eWEEK: CareCloud Upgrades EHR Platform with Faster Charting. July 17, 2013". Retrieved 12 March 2015.
  11. "Boston Business Journal. October 15, 2013: CareCloud CEO: We May Go Public Next Year". Retrieved 12 March 2015.
  12. "Bloomberg Business. October 14, 2014. CareCloud Launches New Advanced Analytics Suite to Provide Medical Groups Unparalleled Insights to Improve Business Performance". Retrieved 12 March 2015.
  13. "CareCloud, First Data launch patient experience platform". MobiHealthNews. 2017-10-04. Retrieved 2017-10-20.
  14. "CareCloud taps Google Cloud's Healthcare API to boost interoperability, patient experience", healthcareitnews.com/
  15. CareCloud acquired by MTBC, HealthCareITNews.
  16. "Forbes Most Promising Companies 2014". Retrieved 12 March 2015.
  17. "Inc. 500 Fastest Growing Companies 2014". Retrieved 12 March 2015.
  18. "Greater Miami Chamber of Commerce Technology Leader of the Year Awards". Archived from the original on 19 April 2015. Retrieved 12 March 2015.
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