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CARECLOUD, INC.

(MTBC)
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U.S. Physiatry Leverages CareCloud's Technology Platforms to Increase Collections and Drive Growth

05/11/2021 | 09:15am EDT

SOMERSET, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that U.S. Physiatry (USP), one of the nation's largest physiatry groups, is utilizing CareCloud’s technology platform to boost revenue and increase collections across the entire organization.

“Our group is scaling quickly, which is why we had to explore potentially new organizations and technology partners that could also scale with us,” said Dr. Jose Vargas, M.D., Chief Executive Officer, U.S Physiatry. “We needed a partner who could help us increase our collections and cut costs, and that partner was already right in front of us all along. By leveraging CareCloud’s comprehensive technology and services suite, we now have the ability to streamline our workflows, minimize denials and boost productivity.”

USP is a fast-growing, physician-led rehabilitation group that specializes in post-acute care. By focusing on the resources physicians need to run a successful practice, USP enables hundreds of physicians and rehab leaders to take their minds off of non-patient-facing tasks, like collections and billing, so they can focus on guiding patients through the rehabilitation continuum.

“CareCloud has played an active role in enabling USP’s impressive growth since 2014,” said Daniel Masvidal, SVP of Client Success, CareCloud. “We attribute our tight-knit relationship to our ability to provide finely tuned solutions that not only benefit USP directly but positively impact the day-to-day operations of USP’s many physician and facility partners.”

“We are beyond excited about deepening our relationship with CareCloud,” said Tanner Hynes, VP of Operations, U.S. Physiatry. “CareCloud’s innovative technology and enhanced usability and accessibility have been the backbone of our organization, helping us open new doors within our business model. We expect our relationship with CareCloud to develop even further as both of our organizations continue to grow and thrive.”

CareCloud has already helped USP drive profitability and growth by providing Practice Management (PM) and Electronic Health Records (EHR) solutions since 2015. CareCloud is proud to now extend its complete, flexible, revenue cycle management and specialized support team to meet the unique needs of USP’s physician partners.

About U.S. Physiatry

US Physiatry (USP) was founded in 2011 as it became evident that another round of Healthcare reform was imminent. Founded by rehabilitation leaders from all aspects of the rehab continuum, USP decided to focus on rehabilitation in all of the current settings so that both the rehab patient and the physiatrist will be well represented when changes are implemented. USP’s goals are to ensure the success of the physiatrist by providing the resources of a national company to help negotiate managed care contracts, ACO affiliations, implement an IT strategy that will allow us to focus on quality outcomes, and ensure that the revenue cycle is the best possible for a physiatrist. USP believes that empowering the rehab physician to follow a patient throughout the rehab continuum will allow for the best possible outcomes for patients and is also the best way for our physician partners to maximize their income opportunities.

About CareCloud

CareCloud (Nasdaq: MTBC) (Nasdaq: MTBCP) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, telehealth and patient experience management (PXM) at www.carecloud.com.

Follow CareCloud on LinkedInTwitter and Facebook.

SOURCE CareCloud

Company Contact:
Bill Korn
Chief Financial Officer
CareCloud
bkorn@carecloud.com

Investor Contact:
Matt Kreps
Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com

Media Inquiries:
Kaitlyn Mode
Corporate Communications Manager
CareCloud
kmode@carecloud.com


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Financials (USD)
Sales 2021 135 M - -
Net income 2021 -12,5 M - -
Net cash 2021 26,4 M - -
P/E ratio 2021 -9,35x
Yield 2021 -
Capitalization 125 M 125 M -
EV / Sales 2021 0,73x
EV / Sales 2022 0,55x
Nbr of Employees 3 700
Free-Float 59,9%
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NameTitle
A. Hadi Chaudhry President, Chief Executive Officer & Director
Bill Korn Chief Financial Officer
Mahmud Ul Haq Executive Chairman
Nathalie Garcia Chief Compliance Officer & Corporate Counsel
Cameron P. Munter Independent Non-Executive Director
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