CareCloud wants to help doctors spend more time practicing medicine and less time managing their practices.
Started in 2009, the Miami-based privately-held company has developed a comprehensive Internet-based system that reduces paperwork, streamlines medical practices and improves efficiency in the growing healthcare sector.
CareCloud offers a menu of online services that schedule appointments, manage patients, process insurance claims and billings, handle collections, produce analyses of office finances and operations, update electronic medical records and provide a link between patients, doctors, diagnostic centers and other healthcare organisations.
“We take care of all the heavy lifting for physicians,” said Albert Santalo, 44, CareCloud’s founder, president and CEO. “The idea is that doctors can practice medicine and focus on patients, and not have to worry about all the details related to their practices.”
As the economic downturn drags on, CareCloud is part of the newest wave of fast-growing technology companies that are gaining notice as job creators. Just in the past five months, CareCloud has hired 30 more people and attracted $20 million in new venture capital. In December, Santalo participated in a meeting at the White House of Startup America, a presidential program designed to promote entrepreneurship.
The stakes are huge. Santalo, who has worked for many years in information technology and financial services and previously founded Avisena, a company that developed revenue management software for the healthcare sector, believes that the comprehensive, client-based products and services he and his CareCloud team have developed can help revolutionize the country’s inefficient medical system.
Realising that much of the enormous waste in healthcare was due to administrative inefficiency and excessive paperwork, Santalo decided to build a company that would offer new technological solutions to replace older software and service systems, often developed in the 1990s before email became popular, and still used in most medical offices. He designed the basic concepts and began seeking private capital in early 2009.