Encoda Illuminates Financial Health for Healthcare Practices with Breakthrough Technology Enhancements and Strategic Expansion

Innovative analytics and record SaaS adoption empower practices to optimize billing and protect earned revenue 

TAMPA, Fla., Feb. 4, 2025 /PRNewswire/ -- In a healthcare environment where only 25% of practice leaders feel confident they are collecting every dollar earned from payers, Encoda is illuminating physician practice financial health by tackling some of the industry's most pressing financial challenges. As a leader in actionable transparency for healthcare revenue cycle management (RCM), Encoda empowers physician practices to optimize their financial health through data-driven insights and advanced automation. Today, Encoda announces significant platform enhancements and strategic milestones that underscore its trajectory of growth, evolution, and market impact. 

New Innovations Empowering Healthcare Practices 

Encoda is launching new platform enhancements that simplify complex revenue cycle management processes and maximize profitability. The company's newly released features are designed to transform how healthcare practices address billing inefficiencies and improve financial outcomes. 

• Simplified, Automated Reporting and Dashboards: Encoda's enhanced reporting engine, powered by Maestro Power BI, consolidates data from clearinghouses, payers, and practice management systems into a single, intuitive interface. This enables healthcare teams to work more efficiently, make data-informed decisions, and visualize up-to-the-minute financial performance. 
  
  
• Advanced Analytics for Payer Contracts: The new Contract Reimbursement Analytics (CRA) tool identifies underpayments and improper payments based on payer contracts. By clarifying gaps between revenue earned and revenue received, the tool empowers practices to resolve inaccuracies, recoup lost revenue, and project financial performance with precision. 

"With a fragmented RCM landscape leaving billions of dollars unrealized, Encoda is committed to providing actionable revenue transparency for physician practices," said Lisa Taylor, Encoda CEO. "Our mission is to empower practice leaders with the tools they need to easily visualize revenue gaps and improve back-office efficiency, so they can focus on delivering quality care. With our latest innovations and focus on the growth of our SaaS offering, we are helping healthcare move beyond fragmented solutions to a single, intuitive platform that transforms financial outcomes and increases practice valuation." 

Record Growth Reflects Demand for Better RCM Solutions and Operational Focus 

Encoda's innovative approach to RCM fueled remarkable growth in 2024, with a 167% increase in adoption of its SaaS platform, Encoda BackOffice. This surge reflects the growing need for comprehensive solutions that address inefficiencies left by fragmented systems in the typical practice back-office tech stack.

Encoda has responded to this demand by refining its organizational focus to become a fully SaaS-based organization. By aligning its operational and go-to-market resources, Encoda is poised to bring its transformative solutions to more practices nationwide, enabling even greater financial health outcomes. 

Encoda Billing Services clients and staff will fully transition to Sustainable Medical Billing, which will utilize Encoda Back Office and Maestro Analytics in its outsourced revenue cycle management services business.

"We're excited to welcome the Encoda billing staff and clients to the growing Sustainable Medical Billing family," said Sustainable in a released statement. "We're also thrilled to continue our partnership with Encoda as a customer using their next-generation RCM technology to streamline our operations and help us provide a high level of service to our customers." 

Meeting Industry Challenges with a Game-Changing Solution 

As economic uncertainties and evolving payer requirements place increasing pressure on healthcare practices, Encoda provides a clear line of sight to healthcare practice financial health and increased valuation.

"We're excited for these enhancements to the Encoda platform," said Laurie Keesler, Practice Administrator for ENT Associates. "Since implementing Encoda our team has collected on average 7.5% more revenue than prior to Encoda. We've also streamlined our operations and gained insights for our practice leaders that were previously difficult to identify in just our practice management system alone."

By bridging the gaps between clearinghouses, payers, and PM systems, Encoda's solution is transforming how practices manage their revenue cycles—ensuring every dollar earned is collected efficiently and profitably. 

About Encoda 

Encoda, a leader in actionable revenue transparency for healthcare revenue cycle management, illuminates physician practices' financial health through unmatched data visibility and the automation and workflows to act on that data from a single interface. Encoda bridges the gaps between PM systems, clearinghouses, and payers. Its intuitive, rules-based solution empowers healthcare practices to optimize billing, streamline operations, and capture the full value of their services. 

For more information, visit www.encoda.com or contact [email protected]. 

SOURCE Encoda LLC