CareCloud to acquire HFMA's MAP app for revenue cycle tracking

Another significant consolidation in the revenue cycle management space is happening as CareCloud seeks to combine its AI capabilities with the Healthcare Financial Management Association's tool for tracking revenue performance -- a task high on executive priority lists as they navigate 2025's complex financial landscape.

CareCloud, a health AI technology company, recently announced it signed a definitive agreement with the Healthcare Financial Management Association (HFMA) to acquire MAP App, a web-based revenue cycle tool that helps hospitals, health systems and physician practices compare their performance against that of their peers. The tool also established industry benchmarks for revenue cycle performance using MAP Keys, key performance indicators developed by HFMA for revenue cycle performance.

Recently, HFMA updated the MAP App to enhance enterprise reporting, standardize MAP Keys, accelerate sign-in, deliver more training resources and support online networking. HFMA also touted an entirely new user experience.

Through the acquisition, HFMA seeks to expand the tool's core capabilities, particularly through AI. CareCloud stated that the acquisition of MAP App aligns with its strategy to extend its ecosystem of software-as-a-service tools.

"This acquisition enables CareCloud to deliver actionable insights and uncover opportunities for measurable improvement, strengthened by the capabilities of our AI Center of Excellence and the synergies created through our recent acquisition of Medsphere’s hospital IT business," Stephen Snyder, co-CEO of CareCloud, said in the announcement.

CareCloud acquired Medsphere in August for $16.5 million. The deal was considered a "transformational transaction" that will expand CareCloud into the hospital IT market through the acquisition of Medsphere's enterprise inpatient and ambulatory solutions, including its revenue cycle management cloud product.

HFMA President and CEO C. Ann Jordan also stated that the MAP App acquisition will enhance the tool for the organization's 140,000 members by extending CareCloud's technological and AI expertise.

"Together we will broaden the reach of MAP App, ensuring more providers benefit from improved performance measurement and greater financial transparency," Jordan said in the announcement.

CareCloud's acquisition of MAP App is expected to close on Oct. 1, 2025. The deal will not have a material financial impact on the company this year, CareCloud stated.

Jacqueline LaPointe is a graduate of Brandeis University and King's College London. She has been writing about healthcare finance and revenue cycle management since 2016.