Bellevue, WA (PRWEB) October 24, 2011
Edifecs, Inc., a provider of healthcare software solutions, has been recognized for its ongoing revenue growth over several years by the Puget Sound Business Journal and the Deloitte Technology Fast 500. In 2011, the company moved from 345 to 254 on the Technology Fast 500 and improved its ranking from 30 to 23 on the Puget Sound Business Journal’s list of fastest-growing private companies in the state of Washington.
Deloitte’s 2011 Technology Fast 500™ program recognizes the fastest-growing North American companies in the technology, media, telecommunications, life sciences and clean technology industries. This is the second consecutive year Edifecs has been recognized in the program, which honors the top 500 private and public companies in the United States and Canada as measured by revenue growth from fiscal year 2006 to 2010. The company’s revenue grew 347 percent during this period.
The Puget Sound Business Journal honors Washington State’s 100 fastest-growing private companies based on net revenue growth over the last three years. During this period, Edifecs’ revenue grew 179 percent. This year marks the fourth consecutive year that Edifecs has been honored by this regional award program.
Edifecs has received many notable awards in 2011. Company leadership and growth accolades include:
- The 2011 Ernst & Young Entrepreneur of the Year award for the Pacific Northwest; Edifecs CEO Sunny Singh was honored in the technology category.
- Seattle Business Magazine’s Washington’s Best Companies to Work For, which ranked the company 12th among mid-size companies.
- The 2011 Inc. 5000, which ranked Edifecs number 1194 on its list of fastest-growing private companies in the United States.
- Healthcare Informatics’ 2011 list of the top 100 healthcare IT vendors nationwide, based on revenue from healthcare products and services, which ranked Edifecs number 86.
- Puget Sound Business Journal’s 100 Best Workplaces for 2011, which included Edifecs on its unranked list of 25 winners in the large company category.
- Puget Sound Business Journal’s 50 Eastside Fastest Growing Private Companies, which ranked Edifecs ninth on its list of fastest-growing companies east of Seattle.
“Edifecs’ mission is to streamline the administrative side of the healthcare system. This requires improving the infrastructure for exchanging information among the various entities in the healthcare value chain,” said Sunny Singh, CEO of Edifecs. “Edifecs is fortunate to have a team of employees who are committed to growing this business into a thriving organization. We’ve built our business around slashing costs for the industry, and we are grateful for this recognition.”
Edifecs has taken advantage of healthcare organizations’ need to change technology in light of forthcoming government regulations.
The company has more than 575 customers, including 46 Blue plan health insurers, 47 commercial health insurers, 31 state Medicaid organizations and 71 healthcare providers nationwide. In the past three years, Edifecs’ revenue has increased by 179 percent, and its string of awards and explosive growth demonstrate the company’s acumen for continued success and steady contribution to the state and national economy.
Looking forward, the company has positioned itself as an ideal technology partner to help the healthcare industry eliminate waste and reduce administrative costs. The United States spends more on healthcare than any other country in the world, but has not seen a corresponding improvement in the quality of care. By leveraging its supply-chain expertise in other industries to streamline information processing in healthcare, Edifecs has brought much-needed innovation to the healthcare reform effort, and its growth is likely to continue outpacing the nation’s economy overall.
Deloitte Technology Fast 500™
Deloitte’s 2011 Technology Fast 500™ is an exclusive ranking of the United States’ and Canada’s fastest-growing technology companies. The winning companies were officially announced by Deloitte on Oct. 19.
Puget Sound Business Journal’s 100 Fastest Growing Private Companies
Puget Sound Business Journal’s 100 Fastest Growing Private Companies award recognizes the significant accomplishments of privately owned businesses in Washington State. The publication researched and verified each company’s net revenues and named the 100 companies with the highest percentages of revenue growth year-over-year to the list. The ranking for 2011 was revealed at an event on Oct. 12, and was featured in a special publication for subscribers on Oct. 14.
About Edifecs, Inc.
An industry leader since 1996, Edifecs provides healthcare software solutions that improve operational performance by streamlining the exchange of information among health plans, hospitals, and other healthcare organizations, while enabling compliance with current mandates such as HIPAA 5010 and ICD-10.
Today, more than 250 healthcare customers use Edifecs technology to unify transactions from any information channel source and input mechanism, while automating manual business processes such as enrollment, claims and payments management.
For more information, please visit http://www.edifecs.com.
Contact Michael Thomas of Raffetto Herman Strategic Communications, PR firm for Edifecs at mthomas(at)rhstrategic(dot)com.