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CareCloud, a leader in healthcare technology, reported Q2 2022 results showing $37.2 million in revenue, a 9% increase from Q2 2021. The company achieved a record GAAP net income of $2.7 million, reversing a loss of $227,000 last year. Year-to-date revenue stands at $72.6 million, a 14% increase from the previous year. Adjusted EBITDA rose to $7.0 million. CEO A. Hadi Chaudhry highlighted a record $5.5 million in organic recurring bookings. CareCloud maintains a cash balance of $10.2 million as of June 30, 2022.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) is set to announce its financial results for the second quarter ending June 30, 2022, on August 4, 2022, prior to market opening. Following the release, a conference call for investors will take place at 8:30 a.m. ET. Interested parties can access a live webcast and presentation slides via CareCloud's investor relations website.
The company offers a range of healthcare technology solutions aimed at improving operational performance and patient experiences for over 40,000 providers nationwide.
CareCloud will showcase its healthcare technology solutions at the 2022 Florida International Medical Expo (FIME) from July 27-29, 2022, in Miami. At booth J82A, attendees can experience innovations like CareCloud Charts, talkEHR, and CareCloud Breeze. Senior VP of Sales, Patti Peets, is scheduled to present on July 28 about enhancing patient engagement through digital health technologies, aiming to streamline operations for medical practices.
CareCloud announced a partnership with Bedrock Management Services to implement CareCloud Remote, enhancing home healthcare for seniors and chronic care patients. This digital health solution allows streamlined operations including patient scheduling, referral management, and communication. Bedrock operates 33 locations across seven states, focusing on providing personalized care at home. The collaboration aims to bridge the gap between in-clinic and home services, improving patient care continuity. The initiative is expected to help Bedrock manage patient care more holistically.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) announced that CFO Bill Korn will join a virtual panel titled 'Software for Doctors and Dentists' during the Healthcare IT Virtual Conference on July 12, 2022, at 11:00 a.m. EDT. The event is organized by Maxim Group LLC and hosted on M-Vest, showcasing CareCloud's software utilized by over 40,000 healthcare providers across all 50 states.
For more details, visit CareCloud’s investor relations site.
CareCloud (Nasdaq: MTBC, MTBCP, MTBCO) will showcase its healthcare technology solutions at the 45th Annual APPNA Convention in Atlantic City from July 13-17, 2022. As a sponsor and exhibitor, CareCloud aims to highlight its Revenue Cycle Management (RCM) and Electronic Health Records (EHR) solutions designed to enhance efficiency in medical practices. The company emphasizes reducing administrative burdens to focus on patient care and improve collections, ultimately driving better patient outcomes.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has issued a correction regarding a previous press release from June 2, 2022. The company clarified that a proposal to amend its Certificate of Incorporation for increasing authorized preferred shares was not approved at the annual shareholder meeting. A Form 8-K/A has been filed with the SEC to provide additional details. CareCloud specializes in healthcare technology solutions aimed at enhancing the operational performance of medical practices across the U.S.
On June 1, 2022, CareCloud held its annual shareholders' meeting, where key decisions were made. Shareholders re-elected board members A. Hadi Chaudhry, John N. Daly, Mahmud Haq, and Cameron P. Munter for two more years. Additionally, shareholders voted to increase the company's authorized common stock from 29 million to 35 million shares and preferred stock from 7 million to 15 million shares. The Equity Plan was also amended to allow for more shares to be issued, enhancing management's flexibility in capitalizing the company.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has announced that the University of Tennessee Health Science Center has selected its Revenue Cycle Services and talkEHR platform. This partnership aims to enhance revenues, improve workflows, and address billing inefficiencies in the university’s Oral and Maxillofacial Diagnostic Services department. CareCloud's system was chosen due to its scalability and expertise in dental billing, following a competitive evaluation process. This marks another significant contract win for CareCloud in the dental pathology space, reinforcing its position in healthcare technology.
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