Encoda, LLC. Enters Rapidly Growing Medical Billing and Revenue Cycle Management Market
New York, NY, August 19, 2013 --(PR.com
)-- Encoda, LLC. provider of Automated Direct-to-Payer Medical Revenue Cycle Management Systems, now offers Outsourced Medical Billing Services to practices seeking to improve revenue and offload costly and complex medical claims processing.
The U.S. RCM market is projected to grow from approximately $4B in 2010 to more than $9B by 2018, spurred in part by expected medical reimbursement regulation changes. “Due to vast regulatory compliance challenges, including the move to ICD-10 coding standards, we are seeing more and more requests from medical practices seeking to outsource their medical billing,” said John Sprankle, Sales Manager, Encoda.
Expansion into the medical billing vertical is a logical next step for the company that re-invented medical billing. With its unique, patented technology, Encoda is able to automate 70% of the medical billing process, thus eliminating much of the overhead costs and scalability issues faced by a traditional “billing service.” Their service fees are below the national average, without losing quality and without outsourcing the labor offshore. Their unique, patented technology provides their client’s with complete visibility into the claim process from cradle to grave along with faster payments.
Headquartered just outside Philadelphia, PA, Encoda is a software development company that develops and implements a full suite of automation technologies for medical practices. Encoda was founded by, is run by, and 99% staffed by programmers, technologists and systems analysts. Encoda recently founded its own billing service (now called RCM companies), in which it uses its own tools. It provides its software to clients on a hosted subscription basis (today called Cloud Computing and Software as a Service).