CareCloud to expand apps, services

CareCoud, a Miami-based company that provides cloud-based practice management tools for healthcare providers, has raised $20.1 million from Silicon Valley-based Intel Capital and Norwest Venture Partners, reports VentureBeat.

CareCloud creates apps that help medical professionals run their businesses. These include a community collaboration and communication platform to securely share patient information; a medical practice management system for billing and scheduling; as well as a revenue cycle management app. Soon, CareCloud will also provide electronic medical records.

With the new funding, CareCloud will focus on producing more technology to serve the needs of healthcare providers.

EHR companies have been popping up all over the place in the last several years to meet the growing demand among physicians and other healthcare professionals for turnkey electronic solutions to traditional paper-based tasks, notes VatorNews.

Practice Fusion has developed a platform for cloud-based electronic health records, and currently boasts a user base of over 100 000 medical professionals, representing over 20 million patients. Another company, drchrono, has developed a mobile platform that allows healthcare professionals to check patients in, take notes and pictures, record videos, and prescribe medication, all from an iPad.

The Miami Herald states that CareCloud will use the funds to expand its reach, apps and service offerings.

CareCloud, launched in 2010, said it already has more than $500 million in accounts receivables under management for physicians and healthcare providers in the US. It said its cloud-based healthcare management solution provides medical practices with a comprehensive and secure system that unifies clinical, financial and administrative workflow.