Companies that provide in-home care services, including hospice, plus the vendors that provide products and software to these companies, do not exactly dominate this year's Inc. 5000 list of fastest growing companies but our industry is certainly well-represented.
The list represents a unique look at the most successful companies within the American economy’s most dynamic segment — its independent small businesses. Companies such as Microsoft, Dell, LinkedIn, Yelp, Zillow, and many other now household names gained their first national exposure as honorees of the Inc. 5000.
Among familiar home care tech names are DeVero (1759), Kinnser (2300), Homecare Homebase (3508), and Quality in Real Time (1452), which has made the list four years in a row. HospiceLink, the Alabama-based HME operations optimization consulting firm is number 160 on the list.
BlackTree Healthcare Consulting weighed in at number 942, posting 420% growth over the last three years on 2015 revenue of $7 million.
DeVero led the pack of EMR vendors with three-year sales growth of 212%, and ranked number 20 in the very competitive Silicon Valley (San Jose metro area). DeVero founder and CEO Steve Randesi credits the growth to DeVero’s cloud-based platform that adapts to the needs of the shifting healthcare landscape, as well as a highly-motivated and dedicated team of employees who are laser-focused on providing the best technology and service in the industry.
“We recognize that a major transformation is taking place in healthcare with more and more services now being provided in the home,” said Randesi. As a result, traditional EHR’s, designed to support a single healthcare market segment or service line are becoming obsolete. Such legacy applications are not adaptable to the emerging requirements of healthcare agencies that are broadening their scope to provide multiple services across the continuum of patient care. We’re proud to serve the market with DeVero’s simple yet powerful, adaptable and highly-scalable multi-service line healthcare platform that supports a wide range of pre- and post-acute care services from a single platform and single, consolidated patient record.”
Several Healthcare at Home providers are also on the list. Sunny Days In-Home Care is at number 489 in the U.S., 11 in Pennsylvania and 4th fastest in Pittsburgh.
Great Lakes Caring Home Health & Hospice, based in Jackson, Michigan, makes the list for the ninth time at number 4108. After 22 years in business, the company still managed a 69% growth rate over the last three years and posted nearly $189 million in revenue in 2015.
Providia, in Fort Myers, Florida, is at number 827, after a 3-year growth rate of 480%.
Capitol Home Health in Austin, Texas hit the 2015 list at number 1545, with a 247% growth rate over three years, even though it posted 2015 gross revenue of only $7 million.
A non-medical franchise newcomer in Cincinnati named FirstLight HomeCare is at number 2036 with 2015 revenue of $3.9 million.
Serving Los Angeles, Arizona and Texas, 24Hr HomeCare made number 2295 on $48 million in revenue and a 158% growth rate over the last three years.
The complete list of 5000 fastest growing companies can be found on the Inc. 5000 web site.
"The Inc. 5000 list stands out where it really counts,” says Inc. President and Editor-In-Chief Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That’s one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails.”
©2016 by Rowan Consulting Associates, Inc., Colorado Springs, CO. All rights reserved. This article originally appeared in Tim Rowan's Home Care Technology Report. homecaretechreport.com One copy may be printed for personal use; further reproduction by permission only. firstname.lastname@example.org