CareCloud Announces Major Credentialing Partnership with Leading Healthcare Technology Company
17 Octubre 2023 - 8:00AM
CareCloud, Inc. (Nasdaq: CCLD, CCLDP, CCLDO), a leader in
healthcare technology solutions for medical practices and health
systems nationwide, today announced a major credentialing
partnership with a large, publicly-traded U.S. corporation that
stands as a frontrunner in the healthcare technology sector
(referred to as "the Company”).
CareCloud initiated its partnership with the
Company in late 2022 when the Company engaged in a substantial
multi-million dollar agreement to leverage CareCloud Force, a
workforce extension solution designed to bolster healthcare
capabilities. As part of this evolving collaboration, CareCloud
will now extend its credentialing services to the Company, thereby
expanding the reach of CareCloud's credentialing services to a vast
customer base encompassing tens of thousands within the Company's
network.
According to Medical Group Management
Association, credentialing-related denials plague more than 50% of
medical practices, unleashing a chain of consequences with broad
implications. These rejections result in postponed payments,
amplified workloads, and substantial financial burdens.
Furthermore, they can hinder patient access to preferred
providers.
In the intricate world of healthcare
credentialing, CareCloud distinguishes itself as a reliable
partner, providing streamlined solutions that alleviate
administrative complexities and streamline processes. CareCloud's
credentialing technology accurately tracks and monitors the entire
end-to-end credentialing process. This is supported by a proficient
team of Certified Provider Credentialing Specialists and Certified
Provider Enrollment Specialists.
CareCloud is also actively pursuing National
Committee for Quality Assurance (NCQA) Credentials Verification
Organization (CVO) certification. This certification further
broadens CareCloud’s credentialing services by offering delegated
credentialing tasks for organizations, particularly payers. This
reduces administrative burdens on payers and can cut turnaround
times by up to 50%. Achieving accreditation or certification from
the National Committee for Quality Assurance (NCQA) is significant,
as it demonstrates alignment with payer standards.
Karl Johnson, president of CareCloud Force,
stated, "The Company, specializing in revenue cycle management
services, found itself struggling with the challenge of client
credentialing. CareCloud's comprehensive credentialing can help tie
things together for this Company, streamlining the process,
reducing errors, and ensuring timely enrollment.
“Furthermore, we're proud to report significant
progress in our journey toward achieving certification for
delegated credentialing. Our scheduled launch is set for the second
half of 2024 and will begin with the top three commercial payers.
This will be a pivotal step in streamlining the credentialing
process and securing a competitive advantage."
To learn more about CareCloud’s comprehensive
suite of technology-enabled services and solutions, visit
carecloud.com/solutions.
About CareCloudCareCloud
(Nasdaq: CCLD, CCLDP, CCLDO) 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, patient
experience management (PXM) and digital health, at
www.carecloud.com.
Follow CareCloud on LinkedIn, Twitter and Facebook.
SOURCE CareCloud
Company Contact:Larry SteenvoordenChief
Financial OfficerCareCloudir@carecloud.com
Investor Contact:Asher DewhurstICR
WestwickeCareCloudIR@westwicke.com
Media Inquiries:Alexis FeinbergICR
WestwickeCareCloudPR@westwicke.com
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