November 16, 2016

Written by Jasmine Pennic

Cloud-based practice management EHR provider CareCloud has raised $31.5 million in Series C funding led by Blue Cloud Ventures with participation from The PNC Financial Services Group and First Data Corporation. The company plans to utilize the latest round of funding to scale its team and its clinical and revenue cycle management platform to help physician practices modernize the patient experience and deliver value-based care.

CareCloud supports medical practices through a flexible and powerful cloud-based platform that streamlines workflow and supports more efficient and effective patient engagement. The platform modernizes revenue cycle management, practice management (PM), electronic health record (EHR) and patient engagement activities within high-performance medical groups.

CareCloud’s technology is tailored to medical groups focused on expanding operations and advancing patient care, especially in cardiology, general surgery, orthopedics, dermatology, ophthalmology, neurology, internal medicine, urology and family medicine specialties. Pairing award-winning design with deep clinical and billing expertise, CareCloud offers integrated clinical and financial technology that adapts to varied payment models. By using an open API architecture powered by the most advanced app platform in healthcare, the company enables rapid deployment of innovative solutions for patients and development of EHR and clinical tools designed to address physician workflows.

“We’re modernizing the healthcare experience for both physicians and patients at the precise point where care happens — the medical practice,” said Ken Comée, CEO at CareCloud. “To simplify and improve the process of delivering and financing healthcare within a rapidly changing ecosystem, you need a technology platform that is flexible with tools as easy to use as we see in banking, shopping and our other everyday activities. We couldn’t imagine better partners than PNC and First Data working with us to reimagine healthcare commerce for physicians and patients alike.”

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