# CareCloud

CareCloud is an Asset Manager based in Miami, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Miami, United States
- **Region:** North America
- **Address:** Miami, FL, United States
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** carecloud.com

## Regulatory record

- **Reports private funds:** No

## About

CareCloud, founded in 1999, has its roots in medical billing and practice management services — founder Mahmud Haq spent over two decades assembling a hybrid software-and-services entity that supports ambulatory practices across the United States. The company operates as a public reporting entity under the ticker CCLD on Nasdaq, a structure that imposes regular financial disclosures absent from most privately held healthcare IT firms. CareCloud's platform spans three core asset classes — electronic health records (EHR), practice management (PM) software, and revenue cycle management (RCM) services — with a growing emphasis on patient engagement tools. The firm covers multiple medical specialties, including primary care, orthopedics, and behavioral health. Its geographic footprint concentrates on the US market, with particular density among independent physician groups and federally qualified health centers. In 2023 the firm launched Cirrus, a cloud-native clinical/financial system intended to modernize its legacy architecture and compete with next-generation EHR vendors. The company reported approximately $140M in annual revenue for 2023 and employed roughly 4,000 professionals globally, with a substantial portion of its workforce based in offshore delivery centers in India and Pakistan that support billing operations. CareCloud maintains its corporate headquarters in Miami, Florida, with additional operational hubs in New Jersey and multiple international locations. May 2024: Named A. Hadi Chaudhry as CEO following a planned succession, while Mahmud Haq transitioned to Executive Chairman (per the firm, May 2024). Unlike most pure-play software vendors, CareCloud combines its subscription-technology revenue with a large managed-services billing workforce — a structure that makes it resemble a tech-enabled business process outsourcer as much as a conventional SaaS company. This hybrid model generates stickier client relationships but introduces margin complexity that pure-software peers do not face.

## Sectors

- Enterprise Software
- Digital Health
- Healthcare Services

## People

- Mahmud Haq — Executive Chairman

## Questions

### Is CareCloud a software company or a services company?

CareCloud operates a hybrid model that blends subscription-based healthcare software — including EHR and practice management tools — with high-touch revenue cycle management services. The services arm employs thousands of billing specialists, many in offshore delivery centers, which creates a different margin and growth profile from a pure SaaS business. This dual structure distinguishes the firm from software-only competitors like Athenahealth or NextGen.

### What does the Cirrus platform represent for CareCloud's strategy?

Cirrus is a cloud-native clinical and financial system CareCloud launched in 2023, marking a shift away from its legacy codebase toward a modern, integrated ecosystem. It targets ambulatory practices seeking a unified platform rather than modular bolt-ons. The launch signals an attempt to compete more directly with newer cloud-first EHR vendors in the US physician market.

### How does CareCloud source its client base?

CareCloud primarily serves ambulatory physician practices, community health centers, and small to mid-sized provider groups across the United States. The firm expands its client roster through both direct sales and channel partnerships with independent physician associations. Its RCM services create a land-and-expand motion, where billing clients frequently adopt the firm's EHR and practice management tools over time.

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Last updated: 2026-06-03T20:00:00.000Z

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