Specialty RCM Firms Advance in Healthcare with High Client Satisfaction and Innovative Automation

Black Book's survey, involving nearly 5,000 healthcare providers, marked EnableComp as the top-performing specialty Revenue Cycle Management (RCM) firm. This study, conducted between March and April 2024, rated EnableComp highest across 12 of 18 key performance indicators within the complex claims processing sector.

The survey respondents, including 407 hospitals, 4,188 physician practices, and 275 post-acute providers, are increasingly looking into alternative methods for processing intricate medical claims due to concerns pertaining to data security, denial rates, and accuracy affecting Net Patient Revenue. Approximately 36% of claims at Community Hospitals are now classified as hard-to-process, driving the need for external specialty RCM expertise.

Significant issues such as resource limitations, expertise in handling complex claims, and unsatisfactory results from existing processes have led 80% of IDNs and major health systems, along with 95% of physician practices, to consider new specialty RCM partnerships. Furthermore, 91% of post-acute providers plan to engage with a specialty RCM partner by the first quarter of 2025.

Key considerations for selecting a specialty RCM partner by Q2 2024 included vendor trust, robust data security, process efficiency, and a track record of significant AR Reduction and ROI. EnableComp rose to prominence, not only by meeting these criteria but also through its focus on employing innovative technology and intelligent automation tools.