CCLD - Earnings call 3 2022

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Operator

Welcome to the CareCloud, Inc.

Third Quarter 2022 Results Conference Call. [Operator Instructions]

I will now turn the call over to your host, Nathalie Garcia. Ms. begin. may you Garcia,

Nathalie Garcia

President Welcome today's CareCloud our call Hadi Officer. Executive Executive everyone. Korn, and Conference Chief our Founder Quarter Call. Chairman; Financial Officer, Chief our On are Chaudhry, a to morning, Director; Third Bill the XXXX and and Good Mahmud Haq,

of amended, Before of XXA are Section that within amended. facts forward-looking forward-looking and statements as we the and growth like All XXXX, outlook, statements of guidance XXXX statements during without operational other financial Securities made meaning acquisitions. including, during of are you I remind regarding would Section the statements business than and Act Securities statements this performance, conference as potential future begin, expectations of growth, and the Act of for historical organic to this our limitation, certain conference made XXE statements call and Exchange expected

with upcoming, terminology may, be will, words sometimes as may negative the and estimate statements believe, of these identified Forward-looking such terms. anticipate, or plan, expect, similar

Forward-looking not promises a could performance to actual which subject and our differ are of to from those beyond these of materially in forward-looking guarantees results statements. risks are are many variety and uncertainties, cause future control, contemplated of or which statements

actual statements our differ These to Exchange this in refer from more where discussion and comprehensive forward-looking to statements. obligation factors could and performance light filed statements release Securities results materially or will presentation, new events. you of our as reports to revise a find forward-looking the reflect cause Commission, Please of to of these with our and that our the and these date opinions only no we undertake press future information

Events, presentation. download Call Quarter into click the and visit the may by click Please click quarter Results For our earnings XXXX want Conference IR and to XXXX anyone presentation. on on you Relations News Investor Third download then ir.carecloud.com, calendar, our third site, who telephone, earnings dialed call

today's release call, performance may our results. to we financial of results certain today's measures. measures refer our press non-GAAP quarter announcing reconciliation on XXXX financial to non-GAAP GAAP a Finally, third these to Please refer for

said, that Chaudhry. CEO, the Hadi I'll call With now over our Hadi? to turn

A. Chaudhry

and third thanks today earnings for call. Thank you joining you, us all for to of quarter Nathalie, our

First, driven our we to by financial consecutive review some highlights, offerings, very reception are Wellness to high-level initial to strong record of chronic pleased our care bookings, a namely announce quarter second product addressable We monitoring. to into on more and patient go enormous see introductions, and total our shortly. generate expand remote and through detail that growth management market opportunity we'll these an meaningful

CareCloud Our third and on on compared results our remote with today's growth, digital which our was digital recent continue expected on to health really million grow $XX like finally, the from call, multiple CareCloud's a categories the would EBITDA newly of heightened and revenue million into update to generation of pipeline. map innovation respectively, and our record to bookings and $X.X of million projections. due million, year prior quarter, to the discuss I deeper quarter to into in dive On which $XX.X built $X.X that the class next put and products launch recent and launched including patient our focus an health, sales survey, monitoring, respect and organic

last were record the Wellness we XX% up third that of quarter digital First, of sequentially believe which Recurring represented in quarter year pleased our $X.X strength directly respect quarter company, correlated highest way. the early prior we history atop health for solutions quarter. the are suite a our bookings with bookings, third the to up under of ago set million, Xx that report was of to we with the our and bookings ever the

that us bookings strategy and represented for XX% this R&D the metric bookings there is our need category in are solution to of the market Wellness recurring we us and total of products confidence quarter. absolute gives close an investments CareCloud tells making the set. for our This in

launched Americans an and treatment is well-being to for data the of critical support our and pathways XX% as some as care to the half way is condition months effective Wellness, patients is as physicians which for nearly these type practices from chronic possible patients to for or little chronic ago, both practical seamless and X according that of patients a with It over with the of NIH. live care conditions.

bookings of Wellness' Additionally, upfront is our cost our that launch great source resonating no for clearly in momentum a to little with April value with it revenue physician since is for demonstrate incremental provider base. them. the its

the last details around quarters. conversion of couple around Similar the last but not granular ties you of the important metrics, a the to get this it our norm information of the we directly couple of pipeline think with too provided quarters, share to that to as we lot it's activity bookings to robust

that demonstrates are it and sales increased marketing spend our product Importantly, dividends. in investment and paying innovation

visits and modeling our and customers the typically than for ramp patients note care work tail a business. onboarding is The quarters bookings enrolled what Wellness want is usual Importantly, takes for X out XX sign We revenue X or conversion X $X once later. the bookings of to Rather, that physicians months chronic patient remote patients with purposes, of not call fully bookings we are up only and to monitoring typically to up. longer does patients, $X to management or of to Wellness to actual we once translate their revenue begin. both the confirmed, in

do of an is up it steady that process gradual realize to bookings period, a the annualized After state this to rather entirety on revenue, build not as initial basis. we

In launch general remote investors later response. volatility, marketplace should Wellness, As monitoring announced our around was continues to we which quarter, generate a launched metrics we patient sensitivity solution. bookings not September, mentioned provide the every that the quarter, last given bookings and expect note please to last strong us quarterly quarter. CareCloud of

their improved on as clinical this the health solution last call gives quarter, proactive outside the detailed of elements to patients' providers health we refresher, earnings our allowing RPM a monitor the solution While more ability delivery. setting, with care information program than proactive collaborations makers, their health for rather real-time scheduled on and follow-up providers this clinical and patients' decisions, a device care make waiting leading get to status Through visit. enables

its RPM million We XX just since in of have generated bookings days $X.X the last launch.

base existing Wellness We leverage enormous our are very client to in about drive growth potential meaningful excited the segment. our and

last to quarter, million mentioned generate can we existing from our we $XX As alone. annually customer base believe up

physicians practice to provide category to CareCloud drive and and financial we less. to the that software providers in was EMR/PM, recognized are mission direct Best and survey our of in offering EMR KLAS. outcomes integrated services practices, ambulatory with for by XX with operational better Aligning creates that small We physicians XXXX KLAS practices and recently in solutions our honored for the are feedback PM medical are that being proud innovation that the recognized or

familiar, For is care. those organization, IT of research health the not market most specific health compared consumer care the KLAS reputable recognition reports market, to the to is of you the and

with CareCloud's best includes software respected just over billing months. under technology and available detailed to In various in categories our and medical links. publishers Business.com along list for the last have others. Advisor software This KLAS, for and care services is TechRadar further record the few recognized comprehensive Forbes A presentation the web RCM products best health best and health addition more services; solution; electronic for EHR medical

and health goals direction under in are currently of be the most innovative for best-in-class by review are announced. innovating practice alleviating gave in our These are superior for in company and that categories products; collections. for for suite. also are XXXX reward us burnout streamlining physicians, our are yet We back-office Company experienced accolades we other the Similarly, succeeding in running while business best digital we health to driving their Fast processes for services of right which for and results by confidence Inc.

We as brand and to strategy of organic pursuing awareness business this more are sales. on recognition part aggressively focus our

given that clients parties certifications. and third proud are these our awards We and objective have us

entirely third at of care of management chronic not to CareCloud are was are This end the an new pipeline above $XX customer the QX that existing our the All Wellness, million, We patient with told, amount customers the wellness million does base. remote our our XX% potential of thrilled a include in quarter we evidenced cross-selling offerings, pleased set represents customers to both which and and increase by date. opportunities early different bookings had monitoring reception to $XX our we XXXX. of

thrilled summarize, record in to our deliver QX. bookings of quarter are we consecutive second To

continue reception efforts early marketing ramp evidenced an to and all-time as to CareCloud's products. and sales by encouraging are results and high customer in booking our Our

look forward close remainder reporting power the to brand help organic progress drive growth, we XXXX. harnessing as are out awareness of We and our increased the of we to

will and year-to-date turn Bill call quarter for over results. a the third closer Bill? to at I Now our look

Bill Korn

Hadi, you, thanks, Thank on third to the us call for and joining discuss our results. quarter today everyone,

line quarter quarterly On detail. year-to-date the discussed X our we I'll results greater last was quarter. call, our that noting discuss clients expectations, in from reduction broadly Third the revenue in performance review with today's and in

in was X a the with XXXX, to was Year-to-date, of solutions. the Taking revenue revenue first share million to net from X subtracting months compared first XXXX, This income for to of $X.X an technology-enabled compared a our months increase the our our X after equates of $XXX.X of share XX% first $XXX.X GAAP results a GAAP $XXX,XXX million X% preferred XXXX. months year-to-date of of our of the $X.XX at per loss generated loss look dividends. net in million,

for of income share. or $XX.X months per net first adjusted and non-GAAP million Our $X.XX was the X XXXX

our million of $XX.X X year. $XXX,XXX increase first X% XXXX, the or an from same the was During adjusted $XX million EBITDA last of in period months

EBITDA year-to-date is XX% margin adjusted of consistent year-over-year. Our

revenue representing year-over-year. $X.X XX% quarter million, decrease was third million Our a of or $XX.X

These acquisition a process The due was us other EHR factors. recurring was systems, to decline X customers customers year-over-year X are the the platform. with large a mentioned in a we revenues utilize quarter. merging of of in came to The different reduction which as from factor prior their health last part that primary operations

an impact see accounts, to from since of as continue they well. wind were our high-margin And their down revenue. impacted quarter third profitability We this

a SR XXXX, Due $XX decline approximately the revenue revenue large project from services this quarter. revenue a second a primarily is during in was of running of professional factor run nonrecurring secondary our the Med to second million A that rate. does was from in run annual normal during rate completion not anticipated quarter at our business, and based a impact of second This completions. off in of levels third bit quarter was This the part fluctuation of quarter. starts that on business revenue project fluctuation business. annual higher is and normal a the timing the the and This

million $X.X the of XXXX, from GAAP net third down in income $X.X Our of of XX%. million was a decrease quarter

$X.XX the dividends loss net the share GAAP common on into takes loss declared Our per shareholders, preferred quarter. was account during based which net stock attributable the to

or adjusted net adjusted EBITDA million from non-GAAP per decreased income was EBITDA $X.X XX%. margin million $X.XX of last was share. $X.X Our year, our and XX% Adjusted

sheet ended working $X.X year-to-date. to cash $XX.X equivalents and cash generated and flow. we operations drawn quarter Net million cash balance line of I'll million $X from million and the credit Now the our We $X.X during and million quarter of million $XX third SVB. with capital on was and turn the of with nothing

to We are the EBITDA million with $XXX the in $XXX $XX to be be million. million guidance of revenue to of adjusted million in range and to $XX reiterating XXXX our range

we quarter, to As that looking and last on updating look I continuously game-changing mentioned when forward appropriate front. you are deals for

has event hospitals community. on to and a We billing go Analyst that our with technology. December is of XX. the Monday, consolidator company will next will partner care physicians Day we also breadth to generation entirely and to and new of investors leading-edge at and detail Investor CareCloud depth our be showcase be This evolved first health as from into they analyst indispensable story companies a virtual to Purpose our reacquaint to how and navigate to will a the on investor announce very are that be excited a hosting

to team a sales Thanksgiving operations. holiday. event harness new in invitation from new the of questions CareCloud There to provide for strategy leadership growth and this We'll to to hear members about and products Please our the innovation will look drive and our be business. formal shortly after opportunities of ask additional and long-term information

are We resonating. in XXXX clear our progress it solutions new is and are our proud product of that

We have as complement to leveraging value-add organic carved through out business existing X customers distinct existing relationships growth, as our development well their and platforms. pathways with products new CareCloud creating to

during details increase, Analyst our we to providing to growth forward and organic continues look Our and more Investor Day.

to remarks. I'll turn the for closing that, Mahmud call With over his

Mahmud Haq

Thank you, Bill.

with future to mission. our all support respect holds. trust, proud even their would of associates We to like of our CareCloud more our are loyalty, I date, customers, and thank what of for shareholders and very CareCloud's accomplishments

We to will now open call Operator? questions. the

Operator

first Ladenburg Our from Thalmann. Jeff Cohen Instructions] comes [Operator question from

Destiny Buch

This on last the Jeff. in many accolades months. Destiny so is for Congratulations couple on of

really I wonderful. think that's

I'd talking new is quickly, like your the about. is I wellness start and Wellness remote even newer. platform that that you're patient cycle with guess I relatively the around monitoring commentary to and know

I'm from for is your the you're cycle to remainder? a going months wondering, opportunity that Or X and XX learnings faster So whatnot? as an that make there bit be physicians expecting you to gain is the to

A. Chaudhry

your Thank you question. and thank for for joining, you

mentioned, things. As the X you

management chronic As in second you Wellness we the the quarter. first this launched this know, under umbrella,

so only launched final chronic going X old we monitoring, numbers of have a on back And are days what to side. that like. enough that look management about old, patient care the quarter data the we to are -- we the data have do -- for that about or in support we We about we few just already, signed and the is the data the not still remote have process but it contracts XX a quarters

for too. on thing between months. averages the on last anticipate this as for X time industry, in ramp-up new this based from be competitively we is the to line, the because standpoint, full quarters also this X and new standpoint, thing of the But the data, from to It adaptability patient the is somewhere industry depends same patient XX

year So we see. hope, we next X the improve something need but the standpoint, patient adaptability, will that's over from to the yet

why ramp are full that's now, between we a to of for up anticipating XX X So months.

Destiny Buch

helpful. a about I'm Okay. bit Wellness. if really kind wondering more of could of then just pipeline you you discussed That's And outside that talk

pipeline it if the composition about said about not of $XX a was you think mistaken. Can million, that I talk just I'm you bit?

A. Chaudhry

as Destiny. about bookings, the quarter mentioned, about And question, third XX% those Great pipeline of coming excludes Wellness. this if think And you that are from I Wellness. bookings the

for of So that are it's the when the you're Wellness. of pipeline, $XX XX% rough million smaller line, -- about between enterprise And the it not from include is about the all, does looking at practices. rest rest, is XX% first to the and XX% midsized

XX-provider which the see practices. consider still we more we attraction lot So a towards enterprise clients, a about plus

in is, different whole to that, story. addition a which which is Wellness,

client and are not way we in sharing terms years' in Wellness, at the client pipeline to together, monitoring annualized up because We this focusing chronic specifically numbers X to looking of our able we over extensively X are our patient existing the to dollar let's next, say, revenue top we million And the phase, remote generate existing in are the anticipate towards base. be management it, care the time base frame. to $XX from first

we X overall the second are the announcing client for extensively from And the base. on more using these standpoint, force So going business. to marketplace that X driving in logo see these on, around existing Day from our as to planning products phase, new there's we or a more Investors share December. of a opportunity we're level And sign the during those services,

Destiny Buch

as opportunities makes these leveraging is sense. That kind standpoint? from my you next typically one of some of of leads quarters in seasonality are we're cross-selling I that which busiest Okay. how the guess question, into a And now

A. Chaudhry

a -- item, the you we so the the track still we well. third an bit more. the or a -- that's Wellness to might separate But Wellness that's major for whether kind fourth it where quarter, as can more But right keeping elaborate Destiny, so it's effectively. line of us -- are Maybe is upsell though have question now little the as

our the keeping the bookings coming to that example during And for is, upsell from again, this between last excluding numbers if this numbers, aside, the our quarter, were about the number upsell, take X% new activities was, So just year-to-date of that XX% Wellness. I quarter. of

Destiny Buch

I'll And in one back Yes, hear here. that and Force. last was for much about jump I then it. queue my Got Okay. me guess then exactly question. I didn't

if So there interest the as you're on and and gone I'm just more burner if of still that's organic you focus like. still kind focus a wondering that's if towards the seeing or developments back

A. Chaudhry

to and Karl Destiny, we I'll start a the who give happen answer, for have then Force our Division color. and Head little is he the more -- CareCloud can Force, some

still along now, Med as on started the leveraging relationships. if the to XX% it, continue the focus year-to-date, existing we we about more work health-based we help to And Force. well. at And of coming division, of with Now bookings absolutely as our SR are the look have from Force

seeing We more and more that. are opportunity towards

jump would please? Karl, like you And in, to

Karl Johnson

Thank which have what is QX Force. Certainly, and which substantial new Absolutely. you was Hadi, always SR, the is at question. Med through that proof I territory talking of concept. come about we continued enjoy saw excellent X of in us for relationships an clients hospital kind

to full organic that, Force. growth the exceptionally has addition pipeline our for being In routine for full been

fact, workforce In companies kind excited the have opportunities announce big there our you out ability super leapfrog Too extension know. names can early about that's all that of then from where with opportunities. and that larger some yet, going deals, we into but hospital the household to where we those provide to

So it's going Thank you, extremely been well. Hadi.

A. Chaudhry

Thank you, Destiny.

Operator

Maxim comes next question Klee Group. Allen And from from our

Allen Klee

Yes.

sense fully For are with hospital the like to associated there is is you come? more Or that revenue And X them? it churned what off? customers a that's is large can of churned, little us a your give quarterly -- we

A. Chaudhry

it -- FX hand perspective. for I'll you, or Thank the to the any Allen, I'll the numbers start question. quarter for over the answer, impact then for Bill

feet, of these the as groups and by of larger diligence. was are acquired -- different Just all, more of well XX,XXX We they during risk the were looked unknown customers there implementation certain out of X sort a health first at it, and systems. due from the level a zooming being as as

factored of We anticipating. we were of we next clients I of But scheme revenue may think X negligible. -- even one from kept anticipate There coming fraction is this small year. the into in what acquisitions. whole So the those the a them valuation than more in things, was small that, is those of very

how much too these going customers. I into based won't much is outlook So factor the XXXX to X on that be

like side? comments Bill, But any from you add your to would

Bill Korn

Sure.

EHR, implementing a X of one these hospital were of when it's time. occurred Allen, all would a goes still using there they as project the So an Epic, initiative It in they together our a there units little they've decline, within decline to clients go And essentially say move to doesn't because has was of ERCM Most system good be weren't an I Epic, as turning a additional chunk like but EHR revenue. at you large through had hospital QX, the expect, an on that -- been will process. long business. but would a multiyear

a see top a one one from won't -- So in client. the that Hadi they'll but a little X, headwind client bit clients client. year, you'll remain will top small a of be said, QX. be They of be next won't a as And these they of one

out them and time to a that during lot of we we're profit a fortunate were lot of the of served So revenue we get them. that able

Allen Klee

a about the thinking Could pulling opportunities? that you're us more And creating little question be how potential so M&A is, about with my valuations environment maybe last back. tell

Bill Korn

Allen. Sure,

M&A always for are deals. we So good looking

at deals. answer what bought the say, you we're Bill, will been or one more guys XX since you sometimes, months every it's And people are week, is, looking And doing? something,

we a and certain criteria. look Now in We an X get investment as got know, we've on at return want you investment X or that to say, years.

there's the terms. market a though So down turned unfortunately, who raising public for private like and of the lot a money haven't while, over declined valuations a they even have they XX last lot raised money didn't because companies months,

year Xx And I'm it have so revenue. well, last they'll profits was next to at you raised if of gee, hoping money, say, year. ask I them, first my time

think say, that that me it So we'll how no revenue take profit, to long Xx make a worth revenue. get even you're payback Xx I'm at investment? look on you I does sense. It And and if doesn't and have

terms So a of so we're fortunate capital, we're many deals. think in We're don't But that a be we're willing always also we always shareholders. terms going are be to not accretive sources not to of on we hopeful. that looking. that We're letting to constraint do have doing available deal

the talk somebody looking And always we'll to today. free conversations when feel some name. be have know please tell we there's But us assured, Hopefully, their nothing good fit, rest you to things. have So you think if road, exciting down you we're if for to things give about about. would a who

Operator

And our Riley Wiesenberger next comes from from B. Marc question Securities.

Marc Wiesenberger

pipeline. to $X a Med in million percent little there? upsells percentage does versus the down the what of Of customers on bit was Drilling kind and in of the SR more bookings bookings, new existing from customers? pipeline, represent what And new

A. Chaudhry

Thank you, Marc.

Wellness you a it Wellness. quarter, successful bookings coming of base. that of of first is the customer if out in $X XX% sell recurring closed into break million, virtually third $X.X so this And annualized the is -- So of all, all we from existing it's that the the about in million down,

number, rest done. addition the for just the between new to bookings, separate was and the was we about And X% than sales -- so of for And new X%, the in close the XX% -- X%. quarter, to upsell that, other have about the the Wellness, that to

just looking the should is and to for remote remote monitoring, the yet but as monitoring. the such it, and is chronic care base look just client the the way you -- So at existing and a patient services at and the results there in we I tremendous towards see excitement this opportunity, even industry patient think

onetime services and the And not any logos does Med to client expansion within that's SR continue the of a this We Wellness in $X.X the upsells base. million grow separate revenue still -- include or new because the existing some project-based of to revenue. from the

Marc Wiesenberger

Understood.

as So is SR Med $XX pipeline that included million not in well?

A. Chaudhry

not million in pipeline. our sign. is million just $XX Med business a anticipating, that are pipeline. for recurring pipeline that included Yes, are -- trying end the SR that we is is we This $XX separate to

Marc Wiesenberger

up you returns And XX% thought year. looks some closer is the is sales kind possible of of year-to-date, seeing? last the Understood. changed are over spend have your about all? I more? So was maybe to could then it on on like company and of grown you based marketing faster it bookings thoughts kind targeting spent has at that And if potentially allocation to those expenses XX%

A. Chaudhry

Great question, Marc.

about headcount sales to the as able But increased offshore think and of the has significantly much ramp more were forecasting as were you marketing the perspective, If has from spend, it and saying, we budgeting. not much sales you or were marketing effectively initially headcount onshore. We to the in well team as up addition increased. as

much this -- a that's base our in more managing us in a way. extent in -- certain to up So expense better effective helping a

sales together, offshore roughly now and rest the onshore. and today, of headcount XX% So we XX% between marketing the had about

between forecast extent to -- $X.XX the revenue, dollar somewhere to So to basis, -- still the that to between a CAC same are initial a contributing number. into up number that's presented. to we $X.XX running on between we were in conversion We close $X.XX certain $X.XX that

ramping the sales So marketing we have think started the from see track we results. to team the CAC of on of are and perspective, terms the in already I on and are we track

even booking, for the record the consecutive at second similar well anticipating the quarters X results last in fourth X.X. look up the And quarter quarter terms quarter, X.X you of in are X.X, further we as third terms If final bookings. the quarter, booking in of to

Marc Wiesenberger

one then final And just for a me. helpful. Very

resources As something the has Wellness to specifically Is resources trajectory? maybe you scale of those materially it look a accelerate are to like? guess, what and like? the more do linear does that related your I can Or scale offering, what if place? appropriate that in And that look the capacity CCM,

A. Chaudhry

conservative patient the -- not exactly. XX% by to Marc. the we If for Thanks, to eligible maybe out are understand took adoption chronic are we I we taking able about today at practice are estimate -- care the the management, may increasing a XX% What be find took by a -- rate. and patients, we question A, for that

this Yes, a with similar aspect you're the thing the patient level adaptability this improve. can -- that's in being this industry, coming But of there is is in. new right, competitively

say, the month thinking very in first trying overall of improve if for minutes the to the explain, life about can comes you Let's in XX each health if be or give the call, call your we time would a willing entire help minutes you're can XX us history you patient, or to condition. over phone and

convince some us patient. takes it So the time to

payers on now this, improving as will keep the patient other So believe, calls same we because this of may start receiving from well. couple a

the but start opportunity, looking how the But There over to an going we XX to next over things will months. on see point. is look how this like next but XX hard this yet awareness it need months, it's is how keep at improving, to at do will -- they are improve. forecast it's exactly So we

Bill Korn

the the providing constrained, supply the own, I'd using because Marc, from as third driven and to it's got continue not grows. supply initially, party. really necessarily capability demand this of we've demand by right It's now, having say our to demand up more people And we're And to in as ramp we a patients. started addition

these forecast how it now, customers. market is as service at new take constraints to on I right look to wouldn't I going fast the So our ability off. any

Operator

next question our comes And from Kevin Dede Wainwright. H.C. from

Unknown Analyst

on Dede. of Dobbs behalf I'm This Kevin ], is [ calling Michael

to devices which of terms are and standards remote place Things constraints for monitoring can of any Medical in in there So with? suite, your devices Internet Wellness platform are CareCloud's product the interface that added to

A. Chaudhry

used a our monitoring be, of One limitation is can system can remote group devices. this approved great X no And to say, separate, I and just which would for a -- be with. are there, integrate in further terms under reimbursable or patient thank FDA there are No, capability That's Michael, claim. of you. issue there would question, today elaborate and

one So way. that's the

if device the giving the for the of even even patient, we we the know cost, will reimbursed, a So so will device reimbursement. get be to they patient that are the

So the patient. patient to -- -- the cost it's not anything to going for

the that's So one way.

the if those of an things best use they can next not steps. as other still the and provider smart FDA but take iOS whole or a an example, of Android next the collect set today a data data, collect We those give can to Even to are guidance lot There's watches, about, are most you approved. thinking to actions or of the devices.

For temperature not the example, using right the that blood is approved and the for result increase patient, levels non-FDA can the the practice. an into patient revenue are pressure the as of if doctor they in level the still the well-being with are the schedule well at which level, level can the at device, not right appointment as patient's a

X well summarize of any differences. device will wellbeing for those of an no revenue answer, the the There To strategy So the in for is X are we be no, recognition as connect patient terms different or the us. as there the devices. client tracks can FDA-approved other to limitation, and

Unknown Analyst

by for adherence issue patients initiated an may health patient adherence? Does providers Okay. appointments improving next appointments to providers. so data Great. And of care that CareCloud's suggest care be question, is health instead

A. Chaudhry

appointments next versus we we are started the driven generation few what else, as providers, There appointments Michael, of system. transition care, by -- then the point, probably it maybe like care by organizations accountable driven from at highlighted. of provider. are towards as more years, shift -- patient-driven a been moving shift the next how the and a the becoming X of it most health you as calling from seeing good next years, health has from towards And and in the a this care shift the technology care And these like. being this will as value-based the Very health we well towards looking appointments be is that -- is care anything more available

this specific curve will has numbers will down shift how gradual that a the keep have see not and there yes, more more And there becoming adaptability the do steeper, today. today been we But be shift. road. We much

Unknown Analyst

demographics And and How one CareCloud this appreciated. is BD Wellness? for how among Much And using final their influencing patients marketing efforts? services rates acceptance your affect tech-driven question. Okay. do and

A. Chaudhry

patient. to look the number did patient pressure, because is coming as not example patients or of your that for an most patients, monitoring, the coverage because elderly high blood today. of towards most And CMS diabetic at unfortunately, the chronic elderly of of conditions Mike. remote But that is point, Thanks, Medicare we that the adaptability, or from from the

a age monitoring. patient run of will result. see to on more as more groups ramped need better and started yet the But care, And or we commercial better results can on the patients exists because the also the we we today, chronic have remote there. clients -- implementation have are some up as payers, see you will on different reimbursable government but care encounters for those are, they the today, -- well see the It the chronic so of to we as being

Operator

this [Operator And be at there appears Instructions] further questions. to no time,

Nathalie Garcia

We Thank would in your joined with company forward We you a thank your great and again today. all, and quarter. call. to us interest next look We who's participation you on everyone appreciate have a speaking day. as us today's to like

A. Chaudhry

Thank you.

Operator

call. for conference Thank today's concludes attending. you This

CareCloud (CCLD) 3 Nov 222022 Q3 Earnings call transcript