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Encoda LLC Announces Expansion Plans With Capital Investment From Clearwell GroupTAMPA, Fla., May 30, 2017 /PRNewswire/ -- Encoda LLC, developer of patented technology that powers the nation's most innovative and efficient medical business offices, will expand its U.S. operations with funding from investment partner Clearwell Group, LLC. Encoda will use the proceeds to add sales and marketing resources, continue its acquisition of medical billing companies, and accelerate the development of new products and services. Encoda will advance the capabilities of its Maestro AnalyticsTM platform, which monitors and measures revenue cycle and billing staff performance, and will integrate additional practice management systems with Encoda BackOfficeTM to enable more medical groups, medical billing companies, and PM/EMR vendors to take advantage of its technology. Encoda BackOfficeTM piggybacks onto a medical group's billing system, protecting their investment in existing software while conferring them all its patented functionality, which includes transacting directly with payers and responding programmatically to thousands of HIPAA-mandated ANSI X12 codes. Such functionality was largely ignored by the healthcare IT sector as software development diverted away from billing when the government intevened with $17B in subsidies for the adoption of EHR. Encoda's BackOffice is a truly unique platform that drives a significantly better bottom line for its clients. "Encoda revolutionized the RCM process, greatly increasing margins for their clients," explained Clearwell Group Principal, Ryan Cortner. "Co-founder Bill Cox, Michael Kallish, and their team are true innovators in healthcare technology. We are thrilled to make this investment in Encoda." Michael Kallish, Encoda's Chief Executive Officer, stated, "Our team is excited to partner with Clearwell Group as we seek to dramatically expand our business. Clearwell provides the capital, experience, network, and support to help us take Encoda to the next level." About Encoda, LLC About Clearwell Group, LLC For more information, please visit www.encoda.com or email [email protected]. Media Contact: Terrill Goldman To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/encoda-llc-announces-expansion-plans-with-capital-investment-from-clearwell-group-300464848.html SOURCE Encoda, LLC |