Nextech and Encoda Partner to Elevate Revenue Cycle Management Technology Across Specialties
The integration of Encoda’s claims management and analytics tools with Nextech Practice Management software brings smarter revenue cycle management strategy to specialty practices.
TAMPA, Fla. – November 22, 2019 -- Nextech Systems, a leading provider of healthcare technology solutions for specialty physician practices, today announced its partnership with Encoda, a leader in healthcare reimbursement automation and revenue cycle management tools and services. This partnership enables Nextech to bring greater performance into the revenue cycle for clients through consolidated, patented claims rejection and denial management software, robust dashboard reporting, analytics and customizable RCM services performed by experienced medical claim associates.
Through this partnership, Nextech and Encoda aim to tackle ongoing RCM challenges faced by specialty practices, including collecting payments in a timely manner, effective claims scrubbing, rejection and denial management, and more. Access to fragmented and siloed claims and remittance data places an unnecessary burden on practice managers who seek a holistic view of their medical practice and revenue cycle performance. Integration of the Nextech and Encoda applications enables clients to address, review, and analyze RCM and organizational data from a single, consolidated dashboard. Data combined from the Nextech PM and payers is updated daily and is available 24 x 7 on a desktop PC, tablet or mobile device. As medical practices leverage Nextech’s Practice Management solution to optimize their operations through streamlined scheduling and billing, they can simultaneously evaluate their revenue cycle performance and overall financial health of their practice.
Encoda solutions integrated into Nextech’s Practice Management software include Encoda BackOffice™, a cloud-based medical billing platform and Encoda Maestro Analytics™, a business analytics dashboard reporting tool and comprehensive data mart. With Encoda BackOffice™, billing teams can deliver faster turnarounds for the correction and resubmission of rejected or denied claims, focusing only on those claims that need attention. This leads to increased payment velocity, improved billing staff productivity and elevated insurance reimbursement. Whether billing is performed inhouse or outsourced to Encoda’s revenue cycle services division, Encoda’s Maestro Analytic™ provides visibility and transparency into the billing cycle, enabling staff to quickly understand the financial health of their organization and dive deeper into the revenue cycle performance of their practice. Maestro Analytics™ is also an effective tool for medical practices and managed services organizations comprised of multiple tax IDs to manage workflow and analytics across entities.
“Business analytics and workflow insights are key to innovation in every industry, including healthcare,” says Wyn Partington, Nextech’s Chief Revenue Officer. “Nextech and Encoda are removing common barriers practices face to fully address patient and staff needs. By incorporating these insights into the platform practices use daily, leaders can better understand how to drive patient and physician satisfaction in addition to revenue success.”
“We are thrilled to partner with Nextech and are excited to bring Encoda BackOffice™, Encoda Maestro Analytics™ and our technology-enabled RCM services to Nextech clients nationwide,” says Michael Kallish, CEO of Encoda. “Our innovative technology and analytics solutions will enable Nextech clients to gain better control over claims management, including rejections and denials. Whether billing is done in house or outsourced, our clients have increased visibility into their revenue cycle. Encoda’s advanced RCM functionality combined with Nextech’s Practice Management software delivers exceptional value to Nextech clients.”
Encoda is a leader in healthcare reimbursement automation and revenue cycle management technology and services that empower medical business offices to cost-effectively collect the most money in the shortest time possible. Encoda clients significantly improve their rejection and denial management processes, reduce days in A/R, and receive a level of transparency into their billing cycle via Encoda Maestro Analytics dashboard reporting that other solutions on the market do not provide.