Encoda and Anatomy partner to strengthen payment reconciliation and posting for physician practices. Sep 01, 2026, 09:00 ET Strategic partnership pairs Anatomy's healthcare payment and reconciliation infrastructure with Encoda's automated payment management solution, giving practices two purpose-built tools to accelerate their cash flow from deposit to posted payment TAMPA, Fla. and SAN FRANCISCO, Sept. 1, 2026 /PRNewswire/ - Encoda, a leading physician practice financial health management platform, and Anatomy, a financial automation platform purpose-built for healthcare organizations, today announced a strategic partnership. Through the partnership, Encoda and Anatomy are working together to help practices modernize payment reconciliation and posting, giving them a clearer, more reliable path from the moment a payment arrives to the moment it is posted correctly. Reconciliation and posting sit at the center of a practice's cash flow, and both are still largely manual for most practices. Payments arrive on different schedules, in different formats, and often bundled together, so staff must confirm a deposit actually happened before they can post it with confidence. The time and effort required for payment confirmation contributes to 47% of physician practices outsourcing payment posting rather than managing it internally, according to an Encoda survey. Adding to the burden for RCM teams is the fact that more than a quarter of insurance payments to medical practices still arrive as paper checks, bundled with explanation of benefits documents that must be opened, read, and manually keyed into a practice management system. When reconciliation is incorrect or slow, payment posting, accounts receivable, and accurate financial reporting all fall behind with it. Practices can utilize two purpose-built platforms, each addressing a different side of the same problem: streamlining remittances and getting them posted without hours of manual work. Anatomy provides the payment and reconciliation infrastructure that sits upstream of posting. Its AI-powered lockbox manages a dedicated mailing address for a practice, converts paper explanation of benefits documents into standard 835 electronic remittance files, and normalizes deposit and payment data into structured data for downstream use, giving a practice a clear record of what it received. The automated payment management solution in Encoda's platform is built to solve the posting side of that problem. As soon as a remittance returns, Encoda validates it against expected allowables and releases payments for posting automatically; no human touch required. Only true discrepancies, such as a check amount that does not match an EOB or an unexpected denial code, are routed to a work queue for staff review. "Payment posting is one of the last places in the revenue cycle where manual work still slows practices down, and most of that work traces back to a reconciliation problem, not a posting problem," said Adam Seymour, Chief Product and Technology Officer of Encoda. "Anatomy gives practices clean, trustworthy data on what actually came in, and Encoda's platform is built to post it accurately, automatically, and fast. Together, we give practices a more complete way to manage the path from deposit to posted claim." "Practices shouldn't have to sacrifice confidence in their payment data for speed in payment posting," said Sasha King, Co-Founder of Anatomy. "We built Anatomy to modernize how healthcare organizations receive, understand, and reconcile payments, and Encoda has built the same discipline into payment posting and analytics. This partnership gives practices a straightforward way to get paid, see it clearly, and post it correctly, without the busy work in between." Through this partnership, Encoda and Anatomy help practices: * Confirm bank deposits and remittance data before posting, instead of working off unverified spreadsheets * Post payments automatically once deposits are confirmed, reducing errors and delays that come from manual entry * Gain a clearer, more complete view of cash flow, from the deposit to the posted claim to practice-wide reporting About Encoda Encoda empowers physician practices to achieve lasting financial health by delivering unmatched visibility and control through its proven framework of Actionable Revenue Transparency. By unifying revenue cycle data, streamlining workflows, and automating processes from a single interface, Encoda helps practices sustain profitability, reduce risk, and make confident financial decisions. Bridging the gaps between practice management systems, clearinghouses, and payers, Encoda's intuitive, rules-based platform enables practices to optimize billing, improve cash flow, and capture the full value of their services, turning complex revenue cycle challenges into sustainable financial health. For more information, visit www.encoda.com or contact [email protected]. About Anatomy Anatomy is on a mission to automate financial operations for healthcare and let providers focus on patient care instead of paperwork. Anatomy's suite of financial automation solutions, including AI-powered EOB conversion, a modern healthcare lockbox, and automated bank reconciliation, brings together claims, banking, and accounting data in one place for any healthcare organization that bills insurance, including medical and dental practices, MSOs and DSOs, billing and revenue cycle management companies, and digital health providers. Anatomy is backed by investors including Lightspeed Venture Partners, Canapi Ventures, and Live Oak Bank. For more information, visit www.anatomy.com. SOURCE Encoda LLC

Anatomy Financial raised $19M in a Series A round to enhance its digital billing solutions for healthcare. The company offers services like healthcare lockbox, EOB conversion to 835 files, and smart reconciliation, aiming to replace paper-based billing with digital processes. This funding, led by Canapi Ventures, will help improve efficiency and provide real-time insights for healthcare organizations. Anatomy Financial is also partnered with Live Oak Bank for embedded banking solutions.