EnableComp has acquired Helix Advisory, a Cincinnati-based revenue recovery company whose technology is designed to identify hospital underpayments that can be missed by traditional rules-based audit systems.
The acquisition expands EnableComp’s Zero Balance Review capabilities and adds technology to detect underpayments outside conventional audit logic, identify clinical discrepancies between coding and payer reimbursement, and determine the underlying causes of underpayments.
EnableComp plans to integrate Helix’s capabilities directly into the platform it uses for complex claims and denials, reducing the need for hospitals to use separate audit vendors for certain revenue recovery work.
Helix founder Zack Higbie is joining EnableComp as Vice President of Revenue Recovery Products.
EnableComp said Helix’s early clients have generated net revenue improvements exceeding 2% on revenue that was previously unrecognized or written off.
EnableComp currently works with more than 1,000 hospitals nationwide and recovers approximately $3 billion annually through its Complex Claims, Complex Denials, and Complex Revenue Recovery offerings.
The company is backed by Welsh, Carson, Anderson & Stowe. Greenberg Advisors served as financial advisor to EnableComp.
KEY QUOTES:
“Most recovery programs are built to find what they’re told to look for. Helix’s technology finds what nobody told it to look for. That’s the difference between a rules engine and real intelligence. Bringing that into EnableComp’s platform means our clients stop leaving money on the table simply because a claim was too small or too complex for a standard audit to flag it. The work of unifying these capabilities into a single, more powerful platform is already underway, and what we are building is something the market has not seen before.”
Frank Forte, CEO of EnableComp
“The technology we built at Helix was purpose-built to find revenue that traditional recovery programs leave on the table. Joining EnableComp means we can bring that capability and the clinical expertise behind it to a much larger base of hospitals. Our early clients, large and small, are already seeing greater than 2% net revenue improvements on revenue that was previously unrecognized or written off.”
Zack Higbie, Founder of Helix Advisory and Vice President of Revenue Recovery Products at EnableComp
