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CareCloud will showcase its medSR division at the Radiological Society of North America's Annual Meeting from Nov. 27-30 in Chicago. Attendees will learn how medSR’s consulting services can aid healthcare providers in navigating industry challenges, optimizing workflows, and enhancing financial performance. With a focus on healthcare IT systems and integration, medSR supports practices in adopting EHR solutions and improving patient care. The event anticipates over 14,000 attendees, emphasizing advancements in medical imaging science.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) announced the participation of CFO Bill Korn in two upcoming investor conferences. The first is the Sidoti November Virtual Micro-Cap Conference on November 9, 2022, and the second is the BTIG Digital Health Forum on November 21, 2022. CareCloud will showcase its strategic plan and new products like remote patient monitoring and chronic care management services. These developments aim to boost organic growth and improve patient care while reducing costs.
CareCloud has achieved certification from the Office of the National Coordinator for Health Information Technology (ONC) for its electronic health record (EHR) systems, VertexDR and talkEHR. This certification aligns with the 21st Century Cures Act requirements, ensuring these systems enable secure and efficient exchange of health information. CareCloud also plans to meet certification for CareCloud Charts by the end of 2022. The certification reaffirms CareCloud’s commitment to improving healthcare delivery through technology, supporting interoperability across different EHR platforms.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) announced the declaration of monthly cash dividends for its Series A and Series B Preferred Stocks for December 2022, January, and February 2023. The Series A stock will yield $0.22917 per share, while the Series B stock will yield $0.18229 per share. This marks the 88th consecutive month of declared dividends since the launch of Series A in November 2015. Additionally, the ex-dividend and record dates for these dividends are set, with payment scheduled for January 17, February 15, and March 15, 2023.
CareCloud, a leader in healthcare technology solutions, reported its financial results for Q3 2022, highlighting a year-to-date revenue of $106.3 million, a 4% increase from 2021. However, Q3 revenue of $33.7 million dropped 12% year-over-year. The company recorded a GAAP net income of $1.1 million for Q3, down from $1.5 million in Q3 2021, but maintained a positive adjusted net income of $3.3 million. CareCloud also announced $7.1 million in new annual recurring revenue contracts. The firm continues to grow but faces challenges from client integrations that affected Q3 performance.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has partnered with Rocky Mountain Internal Medicine (RMIM) to enhance patient care through its remote patient monitoring (RPM) solution. This initiative aims to optimize healthcare services for vulnerable populations in central Colorado, allowing for better management of chronic conditions without frequent clinic visits. RMIM has successfully integrated CareCloud’s talkEHR platform since 2018, improving workflow and communication. The partnership underscores CareCloud’s commitment to innovative healthcare solutions and value-based care delivery.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has partnered with East Tennessee Children’s Hospital (ETCH) to enhance patient experience and cost efficiency through supply chain improvements. The collaboration will implement a new Enterprise Resource Planning (ERP) system that aims to streamline hospital operations and reduce expenses. medSR, CareCloud's division, has been addressing supply chain issues at ETCH for eight months, resulting in a significant drop in purchase order exceptions. This partnership signals a promising step towards operational excellence in healthcare.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has announced a charitable initiative to support flood relief in Pakistan, matching employee donations dollar-for-dollar. The floods, which began in mid-June 2022, have caused significant destruction, submerging over 46,000 square miles and affecting 33 million people. CareCloud's leadership expressed pride in the employee-organized fundraising campaign, emphasizing their commitment to corporate social responsibility. Historical efforts include contributing to local educational initiatives. The company employs over 4,500 people globally, with significant operations in the U.S. and Pakistan.
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