CareCloud, Inc. (MTBB)

Overview

CareCloud, Inc. is a prominent healthcare information technology (IT) company that offers an extensive suite of cloud-based solutions and related business services primarily to healthcare providers and hospitals within the United States. Initially established in 1999 and headquartered in Somerset, New Jersey, the company underwent a name change from MTBC, Inc. to CareCloud, Inc. in March 2021. CareCloud operates through two main segments: Healthcare IT and Medical Practice Management, catering to a diverse clientele including physicians, nurses, nurse practitioners, physician assistants, and other clinicians.

Products and Services

• Technology-Enabled Business Solutions: This includes comprehensive revenue cycle management services, healthcare claims clearinghouse, and medical coding and credentialing services, which help streamline financial operations and compliance.
• Cloud-Based Software: Offering electronic health records and practice management software that supports daily operations, integrates clinical and administrative tasks, and enhances patient care and experience.
• Digital Health Services: Features patient experience management solutions, remote patient monitoring, and telemedicine solutions, facilitating better patient engagement and health outcomes.
• Healthcare IT Professional Services and Staffing: Provides professional and consulting services, workforce augmentation, on-demand staffing, and strategic advisory services to support healthcare IT infrastructure and initiatives.
• Medical Practice Management Services: Delivers comprehensive management services including facilities, equipment, support services, and administrative staffing, alongside management, bill-paying, and financial advisory services tailored to medical practices.
• AI and Analytics: CareCloud introduces CareCloud cirrusAI and other artificial intelligence services such as AI-powered clinical decision support, virtual support assistant, AI-driven appeals, alongside business intelligence, healthcare analytics platforms, and customized applications to enhance clinical and operational efficiency.
• Chronic Care Management and Telemedicine Solutions: These services aim at extending the care continuum beyond traditional settings, leveraging technology to manage chronic conditions and facilitate virtual care, thereby improving accessibility and patient management.
• Professional and Consulting Services: Offers advisory and implementation support to optimize healthcare IT systems and strategies, including strategic advisory services to navigate the complexities of healthcare IT management and transformation.