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CareCloud, a leader in healthcare technology solutions, reported robust Q1 2022 results with revenue of $35.3 million, a 19% increase year-over-year. The company achieved a GAAP net income of $1.1 million, reversing last year's $2 million loss. Adjusted net income reached $3.5 million or $0.23 per share, with adjusted EBITDA at $4.7 million. The firm also introduced new digital health solutions and plans to redeem additional Series A Preferred Stock, enhancing financial flexibility.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has been selected by the University of Nebraska Medical Center (UNMC) to provide its talkEHR solution. This partnership aims to enhance operational efficiency by minimizing downtimes and increasing revenue through digitization of records. UNMC represents the sixth university to adopt CareCloud's services in the oral pathology sector, validating CareCloud's capacity to meet stringent security and administrative requirements set by public universities.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) has declared monthly cash dividends for its 11% Series A and 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock for June, July, and August 2022. This marks the 82nd consecutive month of dividends for Series A since its inception in November 2015. The Series A dividend is $0.22917 per share, while Series B is $0.18229 per share. Ex-dividend dates are June 29, July 28, and August 30, with corresponding payment dates of July 15, August 15, and September 15.
CareCloud has unveiled its new CareCloud Wellness service, enabling medical practices to engage in the Chronic Care Management (CCM) program without additional operational costs. This initiative aims to enhance patient care for those with multiple chronic conditions while offering revenue opportunities for providers from services rendered to Medicare and Medicaid patients. The service includes coordinated care plans and non-face-to-face reimbursement options, promising to improve patient outcomes and operational efficiency.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) will announce its financial results for Q1 2022 on May 9, 2022, before the market opens. Following this, a conference call for investors is scheduled at 8:30 a.m. Eastern Time. The call will be accessible via live webcast or audio-only by phone. A replay and presentation slides will be available an hour post-call. CareCloud provides healthcare technology solutions aimed at enhancing operational performance and patient experience, serving over 40,000 providers nationwide.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) will showcase its IT and operations consulting services at Becker’s Hospital Review 12th Annual Meeting in Chicago from April 25-28, 2022. Key leaders, including President Karl Johnson and Vice President Bruce Adler, will attend to discuss revenue cycle management challenges faced by healthcare organizations. The conference will feature over 250 C-suite speakers addressing critical issues in healthcare. CareCloud aims to help healthcare organizations improve operations and patient satisfaction through technology.
CareCloud, Inc. (Nasdaq: MTBC, MTBCO, MTBCP) has launched CareCloud Remote, a digital health solution designed for home healthcare practices.
This platform enhances referral management and staff assignments, improving operational metrics visibility. CareCloud Remote addresses inefficiencies in patient scheduling and referral handling, offering a consultative revenue cycle management approach to support medical practices.
CareCloud CFO Bill Korn will participate in a panel at the 2022 Virtual Growth Conference from March 28-30, hosted by Maxim Group LLC. He will discuss digital healthcare in a session titled “Technology Improving Healthcare” on March 30 at 1:30 PM EDT. The conference will feature presentations from various sectors, including Healthcare and Healthcare IT, and is accessible via M-Vest. Attendees can also arrange meetings with CareCloud's management through the conference's sponsor.
CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) announced key leadership changes to bolster growth and market strategy. Steve Link has been promoted to Chief Operating Officer, while Patti Peets becomes Senior Vice President of Sales. New hires include Brian Zelenka as Vice President of Marketing and Carinda 'CJ' Cox as Vice President of Sales Operations. CEO Hadi Chaudhry emphasizes that these appointments will enhance client success and support the company's mission to expand operations and deepen customer relationships.
CareCloud, a leader in healthcare technology, announced record results for 2021. The company achieved a revenue of $139.6 million, a 33% increase from 2020, with a GAAP net income of $2.8 million compared to a loss of $8.8 million in 2020. Adjusted net income reached $18.5 million or $1.24 per share. The fourth quarter saw revenue of $37.5 million, a 17% growth year-over-year. CareCloud plans to redeem 800,000 shares of Series A Preferred Stock to reduce costs. The company’s adjusted EBITDA for 2021 rose 103% to $22.1 million.
