CareCloud, Inc. Partners with DrFirst to Enhance Medication Adherence and Reduce Healthcare Costs
Rhea-AI Summary
CareCloud, Inc. (Nasdaq: CCLD) has expanded its partnership with DrFirst to include RxInform functionality, aimed at improving medication adherence and reducing healthcare costs. This integration enhances CareCloud's platform by:
1. Addressing financial challenges through notifications and coupons for patients
2. Offering a seamless notification system for prescription updates
3. Providing text alerts throughout the prescription process
4. Incorporating coupons and discount cards to alleviate financial burdens
The partnership aims to reduce prescription abandonment, improve patient engagement, and ultimately lead to better health outcomes. DrFirst's RxInform has maintained a 95% satisfaction rate based on over 20 million patient ratings.
Positive
- Integration of RxInform functionality to improve medication adherence
- Potential reduction in prescription abandonment rates
- Enhanced patient engagement through text alerts and notifications
- Incorporation of coupons and discount cards to lower out-of-pocket costs for patients
- Expansion of existing partnership with DrFirst, including e-prescribing and PDMP solutions
Negative
- None.
News Market Reaction
On the day this news was published, CCLD declined 1.88%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SOMERSET, N.J., July 17, 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, is pleased to announce the expansion of its strategic partnership with health technology pioneer DrFirst to now include integrated RxInform functionality, which is designed to improve medication adherence by increasing patient engagement and reducing the burden of high prescription costs.
“Through this new functionality, our platform is better positioned to reduce prescription abandonment by, among other things, addressing the financial challenges patients face when insurance does not fully cover medication costs through enabling our providers to generate relevant notifications and coupons to their patients,” said Al Nardi, CareCloud’s SVP Strategy and Chief Compliance Officer. “These coupons can substantially lower out-of-pocket costs for the millions of patients on CareCloud’s platform. This initiative not only alleviates financial burdens but also encourages adherence to prescribed treatments, leading to better health outcomes.”
CareCloud currently offers fully integrated DrFirst e-prescribing for controlled substances (EPCS) and prescription drug monitoring program (PDMP) solutions to its network of providers. With the incorporation of RxInform, it enhances its seamless notification system that keeps patients informed throughout the prescription process. Patients now receive text alerts when their prescription is sent, when it is ready for pick-up, and when coupons and discount cards are available, ensuring timely updates and convenience. By offering coupons, discount cards and reminders, CareCloud aims to support its practices who are striving to alleviate the negative effects of poor medication adherence.
DrFirst CEO G. Cameron Deemer explained, “When patients don’t pick up their prescriptions, it’s typically because they forget, they can’t afford the medication, or they are unsure about the instructions from their last office visit. Now doctors on the CareCloud platform can engage directly with patients on their mobile devices minutes after a new prescription is sent to the pharmacy. Over the past six years, RxInform has consistently received a satisfaction rate of
The expansion of this strategic partnership between CareCloud and DrFirst represents a significant advancement towards enhancing patient engagement and medication adherence. This collaboration is poised to reduce financial barriers, improve prescription pick-up rates, and ultimately lead to better health outcomes.
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.
About DrFirst
Since 2000, healthcare IT pioneer DrFirst has empowered providers and patients to achieve better health through intelligent medication management. We improve healthcare efficiency and effectiveness by enhancing e-prescribing workflows, improving medication history, optimizing clinical data usability, and helping patients start and stay on therapy. In the last few years, DrFirst has won over 25 awards for excellence and innovation, including winning Gold in the prestigious Edison Awards in 2023, recognizing our game-changing use of AI to streamline time-consuming healthcare workflows and prevent medication errors. Our solutions are used by more than 350,000 prescribers, 71,000 pharmacies, 270 EHRs and health information systems, and over 2,000 hospitals in the U.S. and Canada. To learn more, visit DrFirst.com and follow @DrFirst.
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SOURCE CareCloud
Company Contact:
Al Nardi
anardi@carecloud.com
FAQ
What new functionality has CareCloud (CCLD) added through its partnership with DrFirst?
How does the new RxInform feature benefit patients using CareCloud's (CCLD) platform?
What is the reported satisfaction rate for DrFirst's RxInform system integrated with CareCloud (CCLD)?
How does CareCloud (CCLD) aim to reduce prescription abandonment rates?
