CareCloud and ChartSwap Partner to Launch "CareCloud Powered by ChartSwap" to Streamline the Request for Information Process
Rhea-AI Summary
CareCloud, Inc. (Nasdaq: CCLD) has announced a strategic partnership with ChartSwap to launch 'CareCloud Powered by ChartSwap', a new solution aimed at streamlining the Request for Information (ROI) process in healthcare. This collaboration will enable ChartSwap to serve as the dedicated portal for handling medical records requests at CareCloud provider locations.
Key benefits of the partnership include:
- Seamless request handling through a centralized portal
- Enhanced security and compliance with privacy standards
- Improved efficiency for providers by reducing administrative burden
- Real-time transparency and tracking for requestors
The partnership aims to simplify practice management, allowing healthcare providers to focus more on patient care while ensuring efficient and secure management of medical records requests.
Positive
- Strategic partnership with ChartSwap to streamline medical records management
- Reduction of administrative burden for healthcare providers
- Improved efficiency in handling Release of Information (ROI) requests
- Enhanced security and compliance with privacy standards
Negative
- None.
Insights
The partnership between CareCloud and ChartSwap to launch "CareCloud Powered by ChartSwap" represents a significant step in streamlining healthcare administrative processes. This collaboration addresses a critical pain point in the healthcare industry: the time-consuming and often burdensome task of managing medical record requests.
Key benefits of this partnership include:
- Reduced administrative burden for healthcare providers
- Improved efficiency in handling Release of Information (ROI) requests
- Enhanced security and compliance with HITRUST, HIPAA and SOC II Type 2 certifications
- Real-time tracking and transparency for requestors
While this partnership may not have an immediate, substantial impact on CareCloud's financial performance, it has the potential to improve customer satisfaction and retention in the long term. By offering a more efficient solution for medical record management, CareCloud strengthens its value proposition to healthcare providers, potentially leading to increased market share and customer loyalty.
For investors, this move signals CareCloud's commitment to innovation and operational efficiency in the healthcare technology space. It may not drastically affect the stock in the short term but could contribute to steady growth and improved competitive positioning over time.
SOMERSET, N.J., Sept. 30, 2024 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and generative AI solutions for medical practices and health systems nationwide, today announced a strategic partnership with ChartSwap, a leading provider of business-to-business (B2B) medical and billing records exchange, to launch "CareCloud Powered by ChartSwap.” This new collaboration will significantly enhance the way medical records are handled and accessed, enabling CareCloud’s providers to focus more on delivering high-quality patient care.
Through this partnership, ChartSwap will serve as the dedicated portal for handling Release of Information (ROI) requests for medical information at CareCloud provider locations. Requestors, including law firms and insurance companies, will now be able to obtain medical records through ChartSwap’s secure and user-friendly platform. By eliminating the manual burden associated with processing records requests, the new partnership empowers CareCloud providers to streamline administrative tasks and focus on patient care.
"At CareCloud, our mission has always been to simplify and optimize practice management so that healthcare providers can prioritize patient care," said Al Nardi, SVP Strategy and Chief Compliance Officer of CareCloud. "Our partnership with ChartSwap is an extension of that mission, ensuring that requests for medical records are managed efficiently and securely without adding strain to our providers."
CareCloud Powered by ChartSwap offers the following key benefits:
- Seamless Request Handling: Medical record requestors can access records through a centralized, easy-to-navigate portal, reducing response times and improving record accessibility.
- Security and Compliance: All data exchanges comply with stringent privacy and security standards, ensuring that patient information is protected. ChartSwap is a HITRUST risk-based, two-year certified, HIPAA compliant and SOC II Type 2 compliant platform.
- Efficiency for Providers: CareCloud providers are freed from the administrative burden of manual record requests, enabling them to dedicate more time to patient care.
- Transparency and Tracking: Requestors can monitor the progress of their requests in real-time, ensuring clear communication and a seamless process.
"ChartSwap’s partnership with CareCloud represents a key step forward in healthcare record management," said Nate Kelly, Chief Digital Delivery Officer of ChartSwap. "Our platform is designed to ease the administrative load for healthcare providers while offering a convenient and secure way for requestors to access the medical information they need."
This partnership reflects CareCloud’s commitment to innovation and improving the operational efficiency of healthcare providers. With CareCloud Powered by ChartSwap, providers can look forward to enhanced workflow processes and a stronger focus on what matters most—patient care.
About CareCloud
CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation and generative AI solutions 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.
About ChartSwap
ChartSwap is a fast, simple and secure business-to-business (B2B) medical and billing record exchange solution – connecting a rapidly expanding network of requestors and providers. Our mission is to revolutionize the way personal health information (PHI) is transmitted, improving efficiency and reducing costs on both sides of the medical record retrieval process. Security and data protection are our top priorities. ChartSwap is SOC II Type 2 and HITRUST risk-based r2- certified and
Media Contacts:
CareCloud
Meg Weber
Enterprise Marketing Manager
mweber@carecloud.com
732-873-5133
ChartSwap
Kristen Roubal
kroubal@5wpr.com
631-873-8025
Investor Contact:
CareCloud
Stephen Snyder
President
ir@carecloud.com
732-873-5133
FAQ
What is 'CareCloud Powered by ChartSwap' and how does it benefit healthcare providers?
How does the CareCloud (CCLD) partnership with ChartSwap improve medical record accessibility?
What security measures are in place for the CareCloud (CCLD) and ChartSwap medical records exchange?
When was the CareCloud (CCLD) and ChartSwap partnership announced?
