SOMERSET, N.J., December 24, 2022 — CareCloud, Inc. (Nasdaq: MTBC, MTBCO, MTBCP), a leading healthcare technology firm, gets its Chief Executive Officer (CEO) A.Hadi Chaudhry featured at top career growth website Natfluence. Natfluence is a digital career growth platform that fosters young entrepreneurs and aids in their professional growth by featuring ideas from markets’ leading CEOs, founders, and big thinkers.
Over the years, Natfluence has built its credibility by interviewing reputable business icons, founders, chief executive officers, and many big idea thinkers. This platform helps establish startups by sharing verified, actionable career insights, success stories, and business lessons from the market shapers of large companies’ leadership.
CareCloud is being noticed by such a credible platform and honors our CEO, A. Hadi Chaudhry, through this featured interview “CEO series,” AdVantage interview category.
Read along to learn about insights shared by Hadi Chaudhry in the interview and how it relates to the market today.
Highlights of the Interview
- Emerging trends of the upcoming healthcare technologies.
- What do AI/ML, automation, and remote monitoring services have to offer?
- Key strategies for managing a remote team.
- Most valuable business lesson and tips on being an effective, propelling leader.
From Care to Value
Talking about the emerging trends related to CareCloud and the overall healthcare industry, Hadi Chaudhry shed light on Medicare’s regulations, post-Covid effects, and hybrid models.
“The pandemic changed the face of healthcare technology. It forced the industry to accelerate technological advancements in digital solutions, and what has previously been considered a science-only field has now transformed into a tech-associated industry. One of the healthcare I.T. industry’s most significant trends is the change in care and reimbursement models.”
Undoubtedly, the healthcare industry is the slowest to endure technology. Data security is a significant reason for this rigidity seen by healthcare leaders, especially patients. The Centers for Medicare & Medicaid Services (CMS), a federal agency within the United States Department of Health and Human Services, called off this fear with its value-driven care models. Soon, the physicians were strengthened by value-based reimbursements and allowing hybrid care modes, such as remote patient monitoring and telehealth.
CareCloud leveraged cloud computing technology to develop and deploy secure patient data transference. Over the years, we developed CareCloud LIVE, a fully integrated telehealth. HIPAA-compliant real-time audio and video calls protected with data security is the target we achieve. Recently, our cloud-based solutions have been elaborated with more digital solutions, developing remote patient monitoring (RPM) software and chronic care management (CCM) software under the digital WELLNESS suite of solutions.
CareCloud has grown its technological solutions around value-based care with time. Our practice management software and revenue cycle management (RCM) solutions are integrated with all major market software. Optimizing our technology solutions, we ensure healthcare providers get complete reimbursements. Also, we strengthen caregivers with the technology to deliver the highest quality care.
One point to consider is that value-based care differs from fee-for-service or capitated approaches. The term “value” within value-based care is essential and indicates measuring payment outcomes from the health outcomes. So, the more improved lifestyle a patient gets, the better they are paid. Now, healthcare is not just about taking a specific service from caregivers. Instead, it is about how that service affects the patient.
As elaborated by Hadi Chaudhry:
“Doors continue to open for virtual care options, and the U.S. will transition to a value-based care model by reducing costs associated with travel and unnecessary in-person visits. Instead of getting paid using a fee-for-service approach, healthcare providers are paid based on how much they improve a patient’s quality of life.”
Technology plays a significant role in this value-based healthcare model. Healthcare systems must consume technology to experience the full benefits of value-based care. Healthcare technological solutions aided with automation, robotics, A.I., ML, business intelligence, and voice controls can do wonders for all healthcare stakeholders. CareCloud focuses on designing cloud-based, secure solutions to deliver more informed, comprehensive, data-driven care throughout the patient’s journey.
“Apart from hybrid-care systems, including telehealth and remote patient monitoring, the incorporation of artificial intelligence (A.I.) is another positive future trend. Healthcare providers can make smarter decisions faster by using A.I. to analyze symptoms, suggest treatments, and predict risks. With certified, cloud-based software and solutions, CareCloud is helping streamline workflows for medical practices and remove costly and avoidable barriers.”
Keeping all hands on deck, with expert opinions, CareCloud constantly creates, deploys, and modifies its solutions for better reach to all healthcare drivers. CareCloud solutions are constructed leveraging advanced technologies using A.I., ML, AR, V.R., and IoMT, modeling and securing technology across healthcare practice systems, wearables, mobile apps, remote services, and predictive data analysis.
Stating the transition within the healthcare industry and how we modify our technology Hadi Chaudhry says, “At CareCloud, we align our product innovation with the evolution of the needs of the industry. Healthcare primarily depends on care delivery, patient approval, and caregiver satisfaction. We target these pain points and provide technologically comprehensible and encrypted solutions. We prioritize the data security and interoperability factors so that we can fit into other systems with maximum ease.”
CareCloud Sliding with Business Analytical Shift
“Big data analytics and artificial intelligence (A.I.) can save the U.S. healthcare system a lot of money.”
Hadi Chaudhry talks about the emerging trends in healthcare technology. A.I. is at a tipping point and is expected to see some big shifts in forthcoming years. Hadi Chaudhry refers to the latest market analysis on the adaptation to and adoption of big data and artificial intelligence.
Healthcare has multiple technologies to look forward to. Some to name: artificial intelligence and machine learning. These technologies are leveraged in business intelligence and database evaluation strategies within the healthcare industry.
McKinsey reports, published in recent years, declare that A.I. leveled off in the past few years. Artificial intelligence has doubled in development since 2017.
Business analytics has shaped a baseline for predictive medicine over the years. The post-pandemic era focuses on technological solutions using multiple technologies to help patients, providers, and business thinkers. Healthcare data management is crucial at all levels today. Centralized databases, if scrutinized accurately, can deliver real-time, efficient data for forthcoming healthcare mediums. CareCloud realizes the potential to optimize such technological innovations for a value-based future of healthcare.
Healthcare digitization today works on the basic strategy of the 3Ps of a healthcare system. Patient, Provider, and Payer. This means if the healthcare management is done right, patients are pleased, providers receive total reimbursements, and payers have no hurdles in smooth compensation processing. Off course, technology solution providers are the bridging partner in this puzzle that glues all the pieces together.
- Balancing a hectic practice’s workflow
- Automating redundant caregivers’ tasks
- Coding accurately
- Filling clinical and case denials
- Providing end-to-end technology guidance
- Remote care provision
- Revenue cycle management to cut unwanted costs and re-assigning cut costs for practice growth
- Aiding in delivering a 360-degree view within the practice and of the healthcare organization within the industry
- Reporting, filing, and charting of the patient data
- Keeping the essential loop component – the patient, informed and satisfied
According to HIMSS, within the next five years, 80% of healthcare leaders will invest in the industry. Also, institutions combat diseases, develop vaccinations and combat global illness by leveraging technology. CareCloud predicts the upsurge of influential technologies and their wise impact on the care delivery process. As quoted by Hadi Chaudhry in the Natfluence interview:
“Through my healthcare technology experience, I have learned that data analytics can be utilized equitably to formulate better technology solutions. Healthcare technology has a long way to go, and CareCloud is ready to conquer every step.”
Key Factors of CareCloud Succession with in the Tech World
“At CareCloud, we have a culture of respect, where we collectively build a vision of success as a team.”
CareCloud has been around for over a decade and has built its credibility. Roadblocks are faced, but they never stop the CareCloud vision-driven team. In Hadi’s words, “Learning from failures leads to success.” Further talking of CareCloud’s journey from MTBC, Hadi Chaudhry states, “When CareCloud was planning to go public in 2007, we feared that being a small firm would welcome setbacks, and it did. But with faith in our vision and team support, we accomplished our goals. Today we are KLAS-accredited, multi-million-dollar healthcare I.T. firm.”
The key factor of CareCloud’s success ratio is our technology-driven expert team that manages to create healthcare-easing technological solutions. Hadi shared the most valuable lesson learned while growing CareCloud: “CareCloud evaluates the market and adjusts accordingly. Our approach is that we don’t wait for perfection. Rather, we strive for excellence every single day. I’ve learned that in business, it’s critical to build a like-minded team that believes in your vision and can help make it a reality.”
Remote Culture Management
CareCloud is a public limited company that operates from Sri Lanka, Pakistan, and the U.S., with technical expertise operating globally. Being the CEO of a remotely working multi-national firm, Hadi faces challenges. He elaborates how a flexible work environment keeps the work and productivity balanced within the firm, “CareCloud has always believed in a remote work environment. Personal and professional life go hand-in-hand. Flexible timing with remote workability allows us to hire the best professional team globally. Employees who are provided with a fair and comfortable work atmosphere are incentivized to be productive.”
Under the remote workplace culture, CareCloud allows employees to find their path. Apart from multiple advanced pieces of training, we reskill our existing employees. My employee management strategy focuses on hiring tech talent from not just top-tier technology institutes and global universities. We also source talent from training centers, professional organizations, technology hubs, and rising technology talent pools globally.
Some News on CareCloud’s Healthcare Technology Solutions
CareCloud is a public limited healthcare solutions company, with headquarters in New Jersey, U.S. It was created by Mr. Mahmood Haq in 1999 to solve practitioners’ concerns at the time. Initially, the firm created for manual medical billing, then turned to technology solutions. CareCloud was acquired by MTBC in 2021, and is registered under NASDAQ – MTBC.
Currently, CareCloud 4000 employees, facilitating over 80 medical specialties, 40k providers, and operating in all 50 states. CareCloud develops specific and end-to-end, cost-efficient solutions. CareCloud takes use of cloud computing and offers as a software as a service (SaaS) platform. Our solutions have been accredited over the years with recent KLAS ambulatory care nominations and multiple Deloitte technology Fast 500 listings.
Our dominant healthcare IT solutions are CareCloud CHARTS – EHR/EMR system, CareCloud BREEZE – patient experience management system, CareCloud LIVE – telehealth software, CareCloud CENTRAL- medical practice management system, CareCloud FORCE – workforce extension services, CareCloud ARCHIVUS- release of information software, CareCloud PRECISION-BI- financial analytics and business intelligence solution, and finally CareCloud CONCIERGE – RCM software, Robotic process automation (RPA)solution, and PRACTICEPRO – medical billing software.
Currently we have two software suites. CareCloud WELLNESS – digital suite, which combines RPM and CCM software, whereas CareCloud CONDUCTOR suite has CareCloud CONNECTOR – interoperability software, CollectiveIQ – claim scrubbing engine, and EDIson -EDI engine.
Learn more on our solutions and take a free demo. Visit us at carecloud.com