Albert Santalo

The healthcare industry wastes billions of dollars each year thanks to inefficient processes. "They use old programming languages and databases with really antiquated software," says CareCloud founder and CEO Albert Santalo. "There is a lot of paperwork flowing between people and redundant testing because information like blood work or X-rays isn't shared."

CareCloud's Web-based software lets doctors to manage their practice online, tracking scheduling, billing and collections, medical records, lab and prescription orders. Like other cloud systems, the service is subscription-based and can be accessed from anywhere in the world. CareCloud has about 1,000 doctors subscribing and plans to roll out a mobile version in early 2012. Founded in 2009, the company has raised $24 million, has 100 employees and is growing fast -- sales rose 500% this past year.

By Eilene Zimmerman @CNNMoney - Last updated January 19 2012: 12:43 PM ET
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