Encoda Acquires Strategic Management Consultants
BLUE BELL, Pa., Nov. 3, 2015 /PRNewswire/ -- Encoda LLC, developer of the cloud-based Encoda BackOffice revenue cycle management and analytics software used nationally by physician practices to improve collections, minimize denied claims and enhance the functionality of legacy medical billing software, announced today it has acquired Carrollton, Georgia-based Strategic Management Consultants (SMC). Terms of the agreement were not disclosed.
Founded in 2010, SMC provides revenue cycle management consulting and services throughout the central and eastern U.S. to improve financial performance in medical practices.
"Health care delivery units are growing larger. Very quickly, size becomes not merely a quantitative issue but a qualitative one," says Michael Kallish, CEO of Encoda. "Processes that work on small data models do not work well in larger data situations. RCM and billing service companies are the first to face these limits. With the addition of SMC, Encoda is able to provide a broad set of products and services across the healthcare payments life cycle and help our clients achieve a significantly healthier bottom line."
Encoda's patented technology enables clients to use their existing billing system to transact directly with their major payers, eliminate the need for a clearinghouse and greatly streamline the revenue cycle process – all ensuring fast and efficient claims processing and financial outcomes quantified with comprehensive data-warehouse business intelligence. Encoda BackOffice is fully integrated with several billing software platforms.
"We could not be more thrilled about the merger," states Bobby Mehan, Founder and CEO of SMC. "Encoda has developed truly unique software that enables us and our clients to keep our investment in our existing billing software but fundamentally change how it works. You cannot successfully manage a billing operation using an Accounts Receivable Aging Report. We have worked with Encoda for several years on various projects. We have seen first-hand what their software can do for providers. In order for us to grow and continue to provide excellent RCM services to our own clients, we need to have scalable workflows, feedback and tools---in real-time---that are specifically designed to handle large data and prevent problems from hitting the Accounts Receivable Aging Report. An AR report is like a newspaper's crime section: the crime is yesterday's news. By combining our services with Encoda's innovative BackOffice software we can prevent the crime."
"The SMC team possesses an outstanding level of industry experience in the physician billing and collections process and clinical software implementation," says Bill Cox, Co-Founder and CTO of Encoda. "The acquisition of the company will allow us to become a complete solutions company. For the first time we will be using our own software – we will be lock-step with our clients. The feedback we will get will help us immeasurably in improving our already exceptional system."
Both Encoda and SMC are Gold Business Partners of Greenway Health. SMC's corporate name will change to Encoda and its operations will remain in Carrollton, GA. The company's President and CEO, Bobby Mehan, will join Encoda as Vice President of Business Development.
Headquartered just outside of Philadelphia, PA, Encoda provides medical groups and medical billing companies with cloud-based software and technology-based transaction and business intelligence services to significantly enhance the revenue cycle management process. Encoda's flagship software, Encoda BackOffice, is fully integrated with GE Centricity Practice Solution (CPS), Greenway PrimeSUITE and Greenway Medical Manager. For more information, please visit www.encoda.com or contact Michael Kallish, directly, at Email, (610) 397-1632, ext 3.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/encoda-acquires-strategic-management-consultants-300171089.html
SOURCE Encoda LLC