CareCloud Experiences Uptick in Requests for Automated Processes

Rhea-AI Summary

CareCloud, a leader in healthcare technology, has observed a notable rise in demand for automation solutions among U.S. medical practices due to workforce shortages exacerbated by the pandemic. With an estimated shortfall of up to 77,100 specialists by 2034, many practices are seeking technology-enabled solutions to alleviate operational burdens. CareCloud offers integrated services, digital health solutions, and robotic process automation to enhance workflows and patient care. These innovations aim to optimize performance and support healthcare providers during unprecedented challenges.

Positive

• Significant increase in demand for automation solutions among medical practices due to workforce shortages.
• CareCloud's technology-enabled solutions can improve operational performance and reduce administrative burdens.
• Offerings include integrated solutions, digital health services, and robotic process automation, which can enhance patient care.

Negative

• The healthcare industry faces a projected shortfall of up to 77,100 specialists by 2034, indicating a growing crisis.
• High physician burnout rates may lead to delayed care delivery and increased errors.

CareCloud offers a multitude of solutions that can automate repetitive, time-consuming tasks and allow medical office staff to make the best use of their time

SOMERSET, N.J., Nov. 23, 2022 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC, MTBCO, MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced they have seen a significant increase in healthcare providers and medical facilities seeking healthcare technology with automation capabilities.

The pandemic exacerbated a shortage of healthcare workers in the U.S., leaving medical practices with a thirst to automate processes and relieve overwhelmed healthcare providers.

The Association of American Medical Colleges estimated a shortfall of between 17,800 to 48,000 primary care physicians and 21,000 to 77,100 specialists by 2034. The report’s data was gathered before the COVID-19 pandemic, which exacerbated the challenges to the nation’s health care system. If not corrected, this healthcare shortage and today’s high physician burnout rate will eventually lead to delayed care delivery, increased errors, missed red flags and overlooked disease progression.

“Since 2020, and more significantly in recent months, we’ve answered many questions by medical practices looking to automate their processes,” said Carinda Cox, CareCloud’s vice president of sales and sales operations. “I would say around 90% of the medical practices we talk to are experiencing a staff shortage, and they are seeking automation solutions that can remove tasks from their plates and allow them to focus on patient care.”

Now more than ever, medical practices are seeking solutions for these critical issues. The answer to these challenges, and the future of the healthcare industry, lies in technology-enabled solutions that can strengthen the healthcare workforce by optimizing workflows. CareCloud offers three types of services to allow medical office staff to make the best use of their time, including:

• Fully-integrated solutions, which combine revenue cycle management with electronic health records, practice management software and patient experience management software
• Digital health solutions, including chronic care management and remote patient monitoring
• Robotic process automation for automating repetitive tasks, and workforce extension for tasks that can’t be fully automated
  

“The breadth of capabilities offered through our technology-enabled solutions can alleviate burdens for medical practices,” added Cox. “CareCloud’s service offerings can improve performance, automate workflows and enhance the patient experience. Implementing our solutions where practice needs are the greatest can not only deliver the best return on investment for the practice, but also help create future growth.”

“We’re constantly upgrading and adding to our list of solutions to provide technology that supports the needs of the industry,” said CareCloud CEO and President Hadi Chaudhry. “The evolution of the industry into the next generation of healthcare is driven by healthcare technology and digital solutions that support easier workflows for medical practices and shift care accountability to their patients. This technology-driven healthcare can be lifesaving for coming generations.”

Learn more about CareCloud’s award-winning solutions at carecloud.com/solutions.

About CareCloud

CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) 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 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, telehealth and patient experience management (PXM) at www.carecloud.com.

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SOURCE CareCloud

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

Investor Contact:
Gene Mannheimer
ICR Westwicke
CareCloudIR@westwicke.com

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

FAQ

What is CareCloud's response to the healthcare workforce shortage?

CareCloud has observed increased demand for automation solutions to help medical practices cope with workforce shortages.

How does CareCloud help improve patient care?

CareCloud offers solutions that automate workflows and enhance the patient experience, allowing providers to focus on care.

What are the key services provided by CareCloud?

CareCloud offers fully-integrated solutions, digital health services, and robotic process automation to healthcare providers.

What is the projected shortage of healthcare providers by 2034?

The Association of American Medical Colleges estimates a shortage of 17,800 to 48,000 primary care physicians and 21,000 to 77,100 specialists by 2034.

How can CareCloud's technology support healthcare providers?

CareCloud's technology can optimize workflows and reduce administrative burdens, which are critical for managing staff shortages.