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OPERATIONS
November 19, 2024
Visa Direct, Zelis, and Dash Solutions have entered a strategic partnership aimed at transforming healthcare disbursements for consumers. This collaboration leverages Dash's innovative digital platform, Visa Direct's global payment network, and the Zelis Advanced Payments Platform (ZAPP) to streamline and accelerate healthcare payments.
Through this partnership, members can receive healthcare-related payments within minutes of approval, marking a significant improvement over traditional processing times. The integration offers flexible payment options, enabling consumers to select real-time payments, digital solutions, or traditional methods that suit their preferences.
Key highlights of the partnership include:
Stephen Faust, CEO of Dash Solutions, emphasized the significance of this collaboration in addressing complex healthcare payment challenges. According to Yusuf Qasim, President of Payments Optimization at Zelis, the partnership empowers payers to manage disbursements more effectively while improving member satisfaction. Yanilsa Gonzalez Ore, Head of Visa Direct North America, noted that combining Visa’s trusted global network with Dash’s platform creates a more efficient and transparent payment ecosystem.
This initiative represents a milestone in healthcare payments, aligning technology with consumer-centric solutions to create a seamless and secure payment environment.
OPERATIONS
October 28, 2024
CareCloud, Inc., a prominent provider of healthcare technology solutions, has fully repaid its credit facility with Silicon Valley Bank (SVB), marking a significant step in achieving its financial goals for 2024. This milestone highlights the company's focus on strengthening its financial position and optimizing its operational framework.
According to Norm Roth, Interim CFO and Corporate Controller of CareCloud, the company began 2024 with a $10 million outstanding balance and set a clear objective to enhance free cash flow, enabling early repayment. "We are pleased to have accomplished this ahead of schedule, achieving a zero balance by the end of the third quarter," Roth stated.
In addition to settling its credit facility balance, CareCloud reduced the available limit on its credit line. This adjustment is expected to save the company approximately $140,000 annually in banking fees. This move reflects CareCloud's strategic efforts to drive efficiency and improve its cash flow metrics.
Under the Ninth Loan Modification Agreement, signed on October 25, 2024, with Silicon Valley Bank (a division of First-Citizens Bank & Trust Company), CareCloud retains an unused credit facility of $10 million, available for future use if needed.
CareCloud, known for its innovative healthcare technology, continues to support over 40,000 providers. The company aims to enhance patient care, streamline administrative processes, and lower operational costs through its technology-driven solutions.
For more details, visit the CareCloud Investor Relations page.
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