Transforming Healthcare Finances: CareCloud Powers Up Interstate Health Systems with Advanced Technology-enabled Revenue Cycle Management Solution

Rhea-AI Summary

CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) has been selected by Interstate Health Systems (IHS) to enhance their healthcare services for mobile employees and travelers, particularly truck drivers. IHS aims to create a nationwide healthcare network, addressing the unique needs of this underserved demographic. CareCloud's scalable platform will support IHS in managing patient records and optimizing administrative processes. The partnership includes CareCloud's Revenue Cycle Management (RCM) solution, Concierge, which utilizes AI to improve efficiency. This collaboration aims to revolutionize healthcare access for mobile individuals across the U.S.

Positive

• CareCloud's selection by IHS indicates a strong demand for its healthcare technology solutions.
• The partnership allows CareCloud to expand its reach and influence within the healthcare technology market.
• CareCloud's RCM solution, Concierge, enhances operational efficiency for IHS through automation and AI.

Negative

• None.

SOMERSET, N.J., Feb. 27, 2023 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: CCLD, CCLDP, CCLDO), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that Interstate Health Systems (IHS), a newly-established healthcare provider that aims to break down healthcare barriers for mobile employees and travelers, has selected CareCloud to optimize their administrative and financial processes as well as the management and storage of patients’ medical information and records.

IHS is addressing the unmet healthcare needs of truck drivers and travelers, who form a largely underserved and mobile population with specific healthcare requirements. The nature of IHS' healthcare model requires a solution that is both scalable and flexible to accommodate the changing needs of their patient population. To meet this challenge, IHS is creating a nationwide network of healthcare services along the U.S. interstate system, including primary care, urgent care, and telemedicine. These services are designed to address the unique healthcare needs of their clients, who are often unable to access traditional healthcare services due to their mobile lifestyle.

To support the growth and expansion of their network, IHS requires a healthcare solution that can keep pace with their ambitions. The scalability, flexibility, and interoperability of CareCloud's platform were critical factors in IHS' decision to choose them as their partner. CareCloud delivers a full suite of technology-enabled healthcare information solutions designed to meet the diverse needs of medical practices of all sizes. Its cloud-based platform offers a range of innovative solutions, including practice management, electronic health records (EHR), digital health solutions and technology-enabled revenue cycle management (RCM), aimed at improving the overall delivery of healthcare by streamlining administrative tasks and fostering improved communication between care teams.

IHS has selected CareCloud's RCM solution, Concierge, to streamline their billing and back-office processes. Concierge leverages the latest advancements in artificial intelligence (AI) and automation to optimize and expedite key RCM functions, including insurance verification, medical coding, and claims processing. With its ability to rapidly and accurately analyze large amounts of data, Concierge reduces the likelihood of errors and speeds up the revenue cycle. Automation also reduces the need for manual data entry, freeing IHS staff to concentrate on delivering care. IHS will also use CareCloud Charts, a comprehensive EHR platform designed for seamless integration with CareCloud products and other healthcare systems and technologies.

“As the healthcare industry continues to evolve and embrace the next generation of technology-driven solutions, having a robust RCM system is becoming increasingly important,” said Hadi Chaudhry, president and chief executive officer of CareCloud. “IHS recognizes this need and has chosen CareCloud for our comprehensive suite of healthcare IT solutions. With our cutting-edge technology and extensive offerings, CareCloud is the ideal partner for IHS to meet the challenges of the future and achieve their goal of providing high-quality care to truck drivers and travelers across the country.”

“We made the decision to partner with CareCloud because of their extensive expertise and comprehensive approach to RCM,” said Tom Butler Jr., chief financial officer at IHS. “Their end-to-end service, which includes resolution of rejections, gives us peace of mind knowing that every aspect of the RCM process is taken care of. With CareCloud, we don't have to rely on our internal staff to handle such a crucial part of the process, which minimizes our risk of cash flow disruptions and compliance issues.”

Jeff Seraphine, IHS chief executive officer, added, "We believe our delivery model will bring about a significant change in the healthcare industry, particularly in supporting the well-being of populations that don’t have easy access to medical facilities. Our priority is to remove barriers for these underserved populations, and by partnering with CareCloud, we are confident that we will see the success we need to expand our operations and reach our goals."

For more information about CareCloud's comprehensive suite of technology-enabled services and solutions, visit carecloud.com/solutions.

About CareCloud
CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at www.carecloud.com.

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SOURCE CareCloud

Company Contact:
Bill Korn
Chief Financial Officer
CareCloud
bkorn@carecloud.com

Investor Contact:
Asher Dewhurst
ICR Westwicke
CareCloudIR@westwicke.com

Media Inquiries:
Alexis Feinberg
ICR Westwicke
CareCloudPR@westwicke.com

FAQ

What is the significance of CareCloud's partnership with Interstate Health Systems?

The partnership allows CareCloud to enhance healthcare access for mobile workers, thereby expanding its market presence.

How does CareCloud's RCM solution support Interstate Health Systems?

The RCM solution, Concierge, streamlines billing processes and improves financial management using AI and automation.

What are the stock symbols for CareCloud?

CareCloud trades under the stock symbols CCLD, CCLDP, and CCLDO.

What healthcare needs does Interstate Health Systems address?

IHS focuses on the healthcare needs of mobile employees, particularly truck drivers, who often lack access to traditional healthcare services.