CareCloud Extends the Power of its Business Intelligence Platform to Independent Practice Market Segment

Rhea-AI Summary

CareCloud (MTBC, MTBCP) launched PrecisionBI Lite, a financial analytics platform designed for small, high-growth medical practices. This platform provides an intuitive dashboard that simplifies data insights, enabling users to make informed business decisions. The CEO of Associated Physicians Group highlighted its ability to reduce payment delays and enhance profitability. CareCloud aims to address the needs of independent practices, ensuring they have access to the same analytical capabilities as larger organizations, thereby expanding its market reach.

Positive

• Successful launch of PrecisionBI Lite tailored for small practices.
• Potential to increase profitability and productivity for independent medical practices.
• Addresses a growing need for simplified financial analytics in smaller healthcare practices.

Negative

• None.

PrecisionBI Lite captures critical data insights for small, high-growth practices

SOMERSET, N.J., Jan. 20, 2022 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced the launch of its abridged business intelligence platform, PrecisionBI Lite (PBI Lite), to expand the company’s addressable market and extend powerful, financial analytics and business insights to small, independent practices.

PBI Lite is a financial analytics platform thoughtfully designed to give cross-functional leaders of independent practices a powerful, holistic view of their financial data through a decluttered dashboard experience. The platform empowers administrators and physicians to make data-backed business decisions without bogging them down with complex reports.

“PBI Lite has helped our organization achieve operational transparency, from our providers to our front desk,” said Michael Saunders, CEO, Associated Physicians Group. “The platform has given us insights we would never have discovered on our own, like finding ways to reduce the payment lag times for minor insurance carriers. These insights have helped us increase profitability and productivity.”

PBI Lite is positioned to meet a growing market need. Independent practices are looking to unpack their financial data in the same way that large medical groups have for years, yet complex enterprise-level solutions don’t compliment their nimble, high-growth workflows. PBI Lite is economized to deliver business-critical data quickly and easily for smaller, independent practices.

“Our PrecisionBI product has been implemented by the industry’s leading, third-party EHR and practice management systems, proving the technology indispensable for large practices. This is why we are so excited to release PBI Lite as a purpose-built solution dedicated to small practices,” said Adeel Sarwar, Chief Technology Officer, CareCloud. “This release speaks to our mission to empower all of our clients with products that keep them moving forward. We believe that practices, large and small, deserve manageable access to key insights that drive revenue and growth opportunities.”

PBI Lite is platform agnostic and already seamlessly integrated with CareCloud’s AI-powered, cloud-based EHR platform, talkEHR. To learn more about PrecisionBI Lite, visit www.talkehr.com/pbilite.

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

Follow CareCloud on LinkedIn, Twitter and Facebook.

SOURCE CareCloud

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

Investor Contact:
Matt Kreps
Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com

Media Inquiries:
Kaitlyn Mode
Corporate Communications Manager
CareCloud
kmode@carecloud.com

FAQ

What is PrecisionBI Lite from CareCloud?

PrecisionBI Lite is a financial analytics platform designed to provide small, independent medical practices with easy access to critical financial data and insights.

How does PrecisionBI Lite benefit independent practices?

It helps independent practices make data-backed business decisions, enhances operational transparency, and can increase profitability by optimizing payment processes.

When was PrecisionBI Lite launched?

PrecisionBI Lite was launched on January 20, 2022.

What companies are affected by this launch?

The launch of PrecisionBI Lite primarily impacts small, independent medical practices seeking efficient financial analytics.