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The award-winning cloud platform focused on delivering new technology and new value for high-growth medical groups in 2016

December 20, 2016

MIAMI–CareCloud, the platform for high-growth medical groups, is sharing new insights into its 2016 momentum and performance today as the year comes to a close. Driven by a mission to help innovative medical groups deliver outstanding care to their communities, the company’s growth in 2016 included new development on its open API, several large medical group client wins and a recently closed $31.5M Series C funding round.

“Nothing is more inspiring than the stories of growth we hear from our medical group clients across the U.S.,” said Ken Comée, CEO of CareCloud. “These practices are finding new opportunities in a changing regulatory environment, new technologies and new physician leaders to deliver outstanding life-saving care in their communities. Our promise for 2017 is to continue being their trusted platform for business and patient success.”

Leading the health cloud evolution

CareCloud began the year with the launch of a suite of new technology designed for mid- and large-sized medical practices at the 2016 HIMSS conference. Along with a migration of the cloud platform to Amazon Web Services (AWS), CareCloud released updated enterprise scheduling, advanced analytics tools and a patient credit card processing workflow. The company, a long-recognized design leader in health technology, was awarded for offering the “Best User Experience” in the global 2016 SaaS Awards. In August, the company held its first Hack Day in partnership with the Wyncode Academy; offering thousands in prizes to developer talent working with its open API. CareCloud continues to deliver the market’s most flexible, design-forward cloud technology for medical practices.

Teaming with leading medical groups

As medical practices increasingly move from server-based to cloud-based technology, CareCloud was selected this year by large groups including Advanced Urology Institute, a 22-facility practice that is one of the largest urology groups in the country, and Acuity Eye Specialists/Retina Institute of California, with 32 surgeons in 40 locations. CareCloud also announced a strategic partnership to develop population health management tools with Lightbeam Health Solutions. The company published a briefing paper titled The New Medical Economy outlining trends to watch for medical groups in the year ahead.

Deepening executive healthcare experience

CareCloud added four high-profile health technology leaders to its executive team in 2016. Paul Chae, formerly of athenahealth and Microsoft, joined as vice president of product marketing. Graeme Hennessey, formerly of athenahealth and Greenway, joined CareCloud as vice president of East sales. Paul Valentine, formerly of MEDHOST and Allscripts, joined as vice president of professional services. Earlier in the year Chris Cousins, formerly of athenahealth and Sentara, joined as vice president of client services. The company is expanding its Miami-based team and hiring aggressively in 2017 for engineering, product management and sales roles.

Focusing on patient as consumer

CareCloud launched its first-ever Patient Experience Index in 2016, finding patient demand for digital tools and support for electronic health record (EHR) technology in the exam room. Baby boomers led demand for patient engagement tools and millennials were most likely to change doctors in order to gain online access to their records according to the report. This study is one of many steps that the company is taking toward a larger goal of modernizing the patient experience for its medical group clients.

Positioning for 2017 growth

In November, CareCloud closed a $31.5M Series C funding round including new investments by diversified financial services leader The PNC Financial Services Group, Inc. (NYSE: PNC) and commerce technology giant First Data Corporation (NYSE: FDC). The company is planning to rapidly scale its clinical and financial platform in 2017. Reporters interested in a preview of CareCloud’s 2017 roadmap can email media@carecloud.com to schedule an interview.

About CareCloud

CareCloud is the leading provider of cloud-based revenue cycle management, practice management (PM), electronic health record (EHR) and patient engagement solutions for high-performance medical groups. CareCloud helps clients increase profitability, streamline workflow and improve patient care nationwide. The company currently manages more than $4 billion in annualized accounts receivable on its integrated clinical and financial platform. To learn more about CareCloud, visit www.carecloud.com.

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