CareCloud is a privately held corporation and provider of cloud-based practice management, electronic health record, and medical billing software and services. The company operates in Boston, Massachusetts and from its headquarters in Miami, Florida. CareCloud offers software-as-a-service and revenue cycle management (RCM) services to physicians in more than 50 specialties across 48 states. CareCloud manages more than $4 billion in annualized accounts receivables on behalf of its RCM clients.
Albert Santalo founded CareCloud on September 16, 2009. The company announced it raised $2.3 million in funding in January 2010. CareCloud added another $20.1 million in Series A funding from Intel Capital and Norwest Venture Partners in September 2011. In June 2014, the company secured an additional $25.5 million in new venture debt financing from Hercules Technology Growth Capita, bringing the total investment to $81.9 million since 2009.
In November 2014, CareCloud joined the CommonWell Health Alliance, a non-profit organization dedicated to promoting interoperability among different electronic health records systems. CareCloud's cloud-based software and service products include the central practice management software, charts electronic health record solution, and concierge revenue cycle management services. Companion, the company's first mobile app was released in 2014. The company also launched Advanced Analytics that same year.
In 2014, CareCloud ranked #28 on the Forbes 'Most Promising Companies' list. The same year, CareCloud also debuted at #127 on the Inc. 500 list of Fastest Growing private companies. CareCloud Chairman and CEO, Albert Santalo, won the 2014 Technology Executive of the Year Award from the Greater Miami Chamber of Commerce.