MTBCP CareCloud Inc

CareCloud, Inc. (Nasdaq: MTBC, MTBCO, MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today shared that they continue to see increasing demand and adoption of their new digital health solution, CareCloud Wellness, that will accelerate through 2023.

CareCloud Wellness is a comprehensive suite of digital health solutions that includes remote patient monitoring (RPM) and chronic care management (CCM). They help medical practices deliver the next generation of healthcare by extending access to care and helping them adapt to the increasing demand for providers to be more involved with their patient's health. RPM uses cellular-connected devices to monitor real-time health data outside the clinical setting directly to care teams. CCM provides a workforce extension solution using a dedicated team of care coordinators to extend care to high-risk patients with multiple chronic conditions to educate them about their health, improve patient satisfaction, avoid unnecessary in-person appointments and help prevent unnecessary hospitalizations.

CareCloud’s CCM solution was first introduced in mid-2022, and initially offered exclusively to existing CareCloud revenue cycle management clients. CareCloud added RPM to the suite of digital health solutions in September, packaging it with CCM to form CareCloud Wellness. Because of its growing popularity and recognized success, a greater initiative is underway to offer the solutions to a broader base.

“Having a team of care managers to help our practice develop a proactive approach to care delivery is invaluable not only to our practice, but also to our patients,” said Dr. Ahmed Mirza, an internist and geriatrician at Geriatrics Associates of New Jersey LLC. “The care managers' prompt and thorough communication keeps me informed of patient questions and concerns, as well as ensures that my patients feel our practice is taking a more active role in managing their health conditions, instead of waiting until something goes wrong to connect with them. This allows me to provide the best possible care for my patients.”

The end-to-end digital health options offered through CareCloud Wellness help providers improve care delivered to their patients, unlock reimbursement opportunities and remove administrative burdens associated with CCM coding complexities.

“The Centers for Medicare & Medicaid Services (CMS) recognizes CCM as a critical component of primary care, and has further amplified its value by increasing patient care delivery and reimbursements offered through these types of programs,” said Dr. Iram Fatima, CareCloud’s chief operating officer for electronic health records and digital health. “CareCloud Wellness can help providers create revenue opportunities by capitalizing on critical virtual services provided to eligible chronic patients. These services also allow them to increase their patients' engagement by reducing office calls while increasing patient visits.”

As previously announced, on Tuesday, Jan. 10, 2023, CareCloud will change its Nasdaq ticker symbol from MTBC to CCLD. CareCloud’s Series A Preferred Stock ticker will also change from MTBCP to CCLDP, and the Series B Preferred Stock ticker will change from MTBCO to CCLDO.

To learn more about how CareCloud helps healthcare providers adapt to meet the demands of the new generation of healthcare, visit carecloud.com /digital-health.

About CareCloudCareCloud (Nasdaq: MTBC, MTBCO, 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 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.

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SOURCE CareCloud

Company Contact:Bill KornChief Financial OfficerCareCloudbkorn@carecloud.com

Investor Contact:Asher DewhurstICR WestwickeCareCloudIR@westwicke.com

Media Inquiries:Alexis FeinbergICR WestwickeCareCloudPR@westwicke.com