Startup Insider: CareCloud

Although the ICD-10 implementation date has passed, the stresses surrounding its arrival have not abated for many providers.

CareCloud, a Miami, Fla.-based startup with about 240 employees, offers cloud-based, comprehensive revenue cycle management services to help providers make their lives easier, reign in costs, enhance patient care and manage payments following the ICD-10 transition.

"Healthcare is more complex than many other industries," says Jeff Cumming, vice president of client success for CareCloud. "We knew it would be no small undertaking to attempt to modernize how healthcare providers care for patients. But we recognized from the start that the cloud is the best way to fast track the necessary improvements in clinical processes, operational efficiency and financial success to make it happen. We formed CareCloud with team members who bring a wealth of healthcare experience and a passion for modernizing the industry. We've made incredible progress and continue to evolve our open healthcare platform to help doctors avoid the complexities of running a practice, including getting paid for their work."

Mr. Cummings took time to discuss CareCloud's beginning in health IT, the upsides of being a young company and the challenges that ICD-10 poses for physicians with Becker's Hospital Review.

Question: How did CareCloud begin as a company?

Jeff Cummings: CareCloud started with the simple idea that healthcare could run better and more efficiently on a modern, cloud-based platform. When CareCloud formed, physicians and practice staff were still mired in technology designed decades ago. We started our journey to "disrupt" these old systems with modern software — systems that put the user experience first. We designed, developed and now offer an open platform for cloud-based EHR and practice management software as well as revenue cycle management services for practices of all sizes nationwide.

Q: Does being a startup company give CareCloud with any specific advantages or disadvantages?

JC: We're not shackled by a large, legacy codebase and antiquated technology limitations. Instead, we innovate quickly and develop a vastly improved software experience that puts the user at the center, enabling better workflow and efficiency within the medical practice. While we have maintained the energy and innovative spirit of a startup, we have moved into our growth stage, evidenced by the larger groups that continue to adopt our suite of software and services.

Q: What are some of the major challenges physicians are facing following the ICD-10 implementation?

JC: ICD-10 is likely to have an impact on both provider productivity and cash flow, judging by experience of physicians in other countries when they made the switch. Productivity could take a hit because of the greater detail and specificity required for ICD-10 coding. The set of codes is also five times larger compared with ICD-9. This greater complexity and volume is expected to generate a higher number of denied claims or claims that need reworking, particularly in the early phase of ICD-10 implementation. All these factors could slow down cash flow.

Q: What services does CareCloud offer to help physicians manage these challenges and help them cope?

JC: CareCloud has taken a proactive, holistic approach to helping our clients prepare for ICD-10. We formed a partnership with ICD-10 educator Precyse University; produced a monthly ICD-10 client webinar series; offer live weekly Q&A sessions with our product management and offer training guides and videos. We also keep our clients up-to-date through regular communications about ICD-10.

We embedded Intelligent Medical Objects IMO Problem (IT) into our Charts EHR system to simplify ICD-10 documentation for providers. IMO developed the most widely accepted medical terminology solution. In addition, a new search tool added to our billing application allows users to more easily identify the appropriate ICD-10 codes to use.

Our CareCloud Concierge clients get additional services provided by our expert revenue cycle management team. For instance, their designated Client Manager helped them prepare for ICD-10 by reviewing the codes most frequently used by the practice, and then worked with the clinical and office staff to make sure they are prepared for the transition. The Client Manager will continue to support them with reporting and guidance post-transition. Also, CareCloud handles claim denials for these clients, reducing concerns about ICD-10 impairing internal staff productivity or pulling down overall collections.

Q: What is CareCloud's workplace culture like?

JC: CareCloud has a fun and innovative workplace culture that supports the smart, creative people dedicated to re-platforming healthcare and making a difference for physician practices and patients across the country. We consider customer success critical for CareCloud's success, so we really look for people who have an absolute passion for a world-class customer experience with a dedication to excellence and are comfortable with the fast-paced nature of a high-growth company.

Q: What kind of expansion do you foresee in the next couple of years?

JC: We see tremendous expansion and continued adoption of the cloud as medical practices seek to modernize their patient experience. We're working to make that a reality by being a true partner to physicians as they navigate a complex and changing healthcare landscape.

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