What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-03-13 compared with 2024-03-21 · 40 added, 42 removed, 348 unchanged (19% of the section changed)

Inc., (together with its consolidated subsidiaries, “CareCloud”, the “Company,” “we,” “us”

and/or “our”) is a leading provider of technology-enabled services and solutions that redefine the healthcare revenue cycle

management process.

We provide technology-enabled revenue cycle management and a full suite of proprietary cloud-based solutions to healthcare

providers, from small practices to enterprise medical groups, hospitals, and health systems throughout the United States.

organizations today operate in highly complex and regulated environments.

Our suite of technology-enabled solutions helps our clients

increase financial and operational performance, streamline clinical workflows, and improve the patient experience.

and/or “our”) is a leading provider of technology-enabled services and generative AI solutions that redefine the healthcare

revenue cycle management process.

We provide technology-enabled revenue cycle management and a full suite of proprietary cloud-based

solutions to healthcare providers, from small practices to enterprise medical groups, hospitals, and health systems throughout the United

Healthcare organizations today operate in highly complex and regulated environments.

Our suite of technology-enabled solutions

helps our clients increase financial and operational performance, streamline clinical workflows, and improve the patient experience.

portfolio of proprietary software and business services includes:

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Additionally,

analysts from The Brainy Research have estimated the U.S.

Healthcare IT industry market to be approximately $105 billion in 2022 and

is projected to reach $370.5 billion by 2032, growing at a 13.4% compound annual growth rate (“CAGR”).

2 Its largest

sub-segment, RCM, is reported to be nearly $140 billion in 2022 and is estimated to grow at a 10% CAGR through 2030 according to Grand

View Research.

EHR market is expected to be valued at $40 billion by 2030 with a CAGR of 12.5% from 2022 to 2030.

analysts from the Imarc have estimated the U.S.

Healthcare IT industry market to be approximately $104 billion in 2024 and is projected

to reach $325.2 billion by 2033, growing at a 13.1% compound annual growth rate (“CAGR”).

2 Its largest sub-segment,

RCM, is reported to be nearly $155.6 billion in 2023 and is projected to grow at a 10.18% CAGR through 2030 according to Grand View Research.

EHR market was estimated to be valued at $11.4 billion in 2023 and expected to grow at a CAGR of 2.24% from 2024 to 2030.

The Telehealth market is estimated to be approximately $42.54 billion in 2024 with a CAGR of 23.8% from 2025 to 2030.

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payments, and at-risk payer contracts.

National Health Expenditure Projections 2023-2032

Healthcare IT Market Size, Share, Growth 2025-2033

Revenue Cycle Management Market Size Report, 2030

Electronic Health Records Market | Industry Report 2030

Telehealth Market Size & Share | Industry Report, 2030

are continuing legislative and regulatory reform efforts, as well as growing compliance requirements mandated by the federal government

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adoption of next generation healthcare solutions.

The healthcare industry has seen tremendous change over the last three years, with

COVID-19 ushering in a new era of digital health.

Our study of the evolving needs of our clients leads us to believe that there will

be an increasing need for our services and products and emerging needs for the products and services that we are already developing.

CMS – National Health Expenditure Historical

The Brainy Research – US Healthcare IT Market

Revenue Cycle Management Market Size Report, 2030 (grandviewresearch.com)

US Electronic Health Record Market Set to Surge to $39.993 Billion by 2030 with Notable CAGR of 12.5% (yahoo.com)

Healthcare IT Market in US Size, Share, Trends | Report 2030 (alliedmarketresearch.com)

The healthcare industry has seen tremendous change over the last few years, with COVID-19

ushering in a new era of digital health.

Our study of the evolving needs of our clients leads us to believe that there will be an increasing

need for our services and products and emerging needs for the products and services that we are already developing.

trends will fuel growth over the next several years.

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Business Strategy

Company is focused on reducing costs, returning to profitability and generating positive free cash flow in order to resume paying the

Preferred Stock dividends.

CareCloud is a market leading provider of technology-enabled and integrated end-to-end Software-as-a-Service

(“SaaS”) solutions that help our clients with the business of medicine.

Our mission is to redefine the next generation of

technology-enabled revenue cycle solutions.

To that end, we invest significant resources toward improving our current offerings and building

new solutions that help transform our clients’ organizations with next generation technology.

We expect to have increased software

capabilities and offer additional complementary business services that will address the needs of the ever-changing, dynamic market conditions

Company is focused on reducing costs, maintaining profitability and generating positive free cash flow in order to continue paying

the Preferred Stock dividends, including those that are in arrears.

CareCloud is a market leading provider of technology-enabled and

integrated end-to-end Software-as-a-Service (“SaaS”) solutions that help our clients with the business of medicine.

mission is to redefine the next generation of technology-enabled revenue cycle solutions.

To that end, we invest significant

resources toward improving our current offerings and building new solutions that help transform our clients’ organizations

with next generation technology.

We expect to have increased software capabilities and offer additional complementary business

services that will address the needs of the ever-changing, dynamic market conditions of the U.S.

healthcare space.

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This direct sales force is supplemented by offshore staff who support our sales and marketing efforts.

24 hours per day.

In addition, our direct sales are augmented through our partner initiatives and marketing campaigns.

We continue to

leverage and optimize various digital channels to present our solutions, identify national events to demonstrate our integrated capabilities

and expand our participation in thought leadership and social communications to connect with the healthcare community.

We continue to leverage and optimize

various digital channels to present our solutions, identify national events to demonstrate our integrated capabilities and expand our

participation in thought leadership and social communications to connect with the healthcare community.

Growth Levers

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These experts are supported by our highly educated and specialized offshore

workforce of approximately 3,200 team members at labor costs that we believe are approximately one-tenth the cost of comparable U.S.

workforce of approximately 3,300 team members at labor costs that we believe are approximately 15% the cost of comparable U.S.

unique business model has allowed us to become a leading consolidator in our industry sector, gaining us a reputation for acquiring and

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CareCloud, MTBC, A Unique Healthcare IT Company, and other trademarks and service marks of CareCloud appearing in this Annual Report

on Form 10-K are the property of CareCloud.

on Form 10-K are the property of the Company.

Trade names, trademarks and service marks of other companies appearing in this Annual Report

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company, we have reduced disclosure obligations regarding executive compensation in our Annual Report, periodic reports and proxy statements

and providing only two years of audited financial statements in our Annual Report and our periodic reports.

This year the Company is

not required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended.

and provide only two years of audited financial statements in our Annual Report and our periodic reports.

For 2024, the Company was not

required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended.

is a non-accelerated filer.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business