Welltok, Health Catalyst place on Inc. 500 list
Two high-profile healthcare IT companies have made it on the Inc. 500 annual list of fastest growing privately-held companies – again.
Ranked No. 278 on the list is Denver-based Welltok. a consumer health, software-as-a-service company. The rank puts the company among the top 5 percent of the companies on the list.
Welltok posted $62.5 million in revenue in 2016, and a three-year growth of 1,576 percent.
Salt Lake City-based health data analytics company Health Catalyst joins on the list at No. 318 of the Inc. 500.
The company uses its analytics to drive decision support and outcomes improvement in healthcare. It recorded a sales growth of 1,373 percent from 2013 to 2016. This is Health Catalyst’s second year in a row on the Inc. 500, a subset of the Inc. 5000. Last year, it was ranked at 384.
The company had $66.7 million in 2016 revenues and posted a 3-year growth rate of $,1373 percent.
Welltok Chairman and CEO Jeff Margolis, credited the company’s success to its innovative clients who embraced its platform, which systematically connects consumers with the resources and tools designed to help them achieve optimal health.
Margolis also pointed to Welltok’s technology-enabled service offerings that target and engage consumers to achieve client-specific business objectives ranging from closing gaps in care to acquiring new members, as another factor in Welltok’s growth.
Welltok has forged strategic partnerships with TeleTech, HealthFitness and IBM Watson.
Like Welltok, Health Catalyst credits its customers for the company’s success.
"It's an accomplishment that we attribute to our customers' success in using Health Catalyst's technology and services to systemically improve their patients' health while lowering costs, Health Catalyst CEO Dan Burton said in a statement. Burton also pointed to the company’s investors as adding to the company’s success.
The Health Catalyst Analytics platform provides information for value-based performance at some of the nation's largest health systems, serving nearly 90 million patients overall.