EnableComp has announced that Memorial Hermann Health System – a non-profit, community-focused, award-winning health system committed to creating healthier communities, now and for generations to come in the Houston area – has made a strategic investment in the company alongside Welsh, Carson, Anderson & Stowe.
Based in Franklin, Tennessee, EnableComp leverages its proprietary software embedded with advanced AI+RPA capability, Enforcer360, to increase revenue yield and accelerate collections for healthcare providers on Veterans Administration, Workers' Compensation, Motor Vehicle Accident/Third-Party Liability, and Out-of-State Medicaid claims. EnableComp also offers comprehensive Denial Resolution, ensuring providers maximize cash collections and revenue recovery from underpayments and/or zero-balance accounts. Today, the company serves more than 1,000 healthcare providers across all 50 states.
"We are very pleased to welcome Memorial Hermann as a health system investor partner. We look forward to working closely with their leadership to meet their needs and seek input on new product offerings. The investment enables us to continue to enhance our world-class Enforcer360 RCM technology platform, expand our product portfolio and ensure high-quality delivery of revenue cycle management solutions to the healthcare market."
Randy Dobbs, EnableComp's Chief Executive Officer
"As a non-profit, values-driven, community-owned health system, Memorial Hermann takes its dual roles of being a responsible financial steward and a trusted healthcare provider extremely seriously," said Feby Abraham, EVP and Chief Strategy Officer at Memorial Hermann Health System. "By making prudent investments in companies that align with our mission to improve health, we ensure we can continue meeting the needs of our Greater Houston community, one of the largest and fastest-growing metropolitan areas of the country, while also creating greater operational efficiencies. The decision to invest in EnableComp is guided by the same philosophies that drive all of our work: deliver value and create healthier communities. EnableComp fits squarely in that mission, with best-in-class solutions delivering compelling ROI and support, allowing health systems to focus on providing care to patients."
Memorial Hermann is one of the largest not-for-profit health systems in Southeast Texas. While practicing the highest standards of safe, evidence-based, quality care, the system's 6,500 affiliated physicians and 29,000 employees provide a personalized and outcome-oriented experience across more than 265 care delivery sites throughout the Greater Houston area.
Memorial Hermann will participate in EnableComp's Strategic Advisory Board to support growth initiatives, continuous quality improvement, new product development and expansion of capabilities.
About Memorial Hermann Health System
Charting a better future. A future that's built upon the HEALTH of our community. This is the driving force for Memorial Hermann, redefining health care for the individuals and many diverse populations we serve. Our 6,500 affiliated physicians and 29,000 employees practice the highest standards of safe, evidence-based, quality care to provide a personalized and outcome- oriented experience across our more than 265 care delivery sites. As one of the largest not-for- profit health systems in Southeast Texas, Memorial Hermann has an award-winning and nationally acclaimed Accountable Care Organization, 17* hospitals and numerous specialty programs and services conveniently located throughout the Greater Houston area. Memorial Hermann-Texas Medical Center is one of the nation's busiest Level I trauma centers and serves as the primary teaching hospital for McGovern Medical School at UTHealth Houston. For more than 115 years, our focus has been the best interest of our community, contributing more than $400 million annually through school-based health centers and other community benefit programs. Now and for generations to come, the health of our community will be at the center of what we do – charting a better future for all.
EnableComp partners with over 1,000 healthcare providers to manage Veterans Administration, Workers' Compensation, Motor Vehicle Accident/TPL, and Out of State Medicaid claims, as well as ERISA appeals. EnableComp also offer services for A/R management, zero balance recovery, and commercial and government denials. The company's industry leading technology and analytics identifies the right payer, at the right time, for the right amount, ensuring clients collect the appropriate revenue for their complex claims and denials. EnableComp is also among the top one percent of companies to make the Inc. 5000 list of the fastest-growing private companies in the United States for the last eight years.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $30 billion of committed capital.