AdvancedMD Software Inc. (www.advancedmd.com), the leading provider of Web-based practice management solutions for physician offices, management services organizations and medical billing services, today announced that for the second consecutive year they have been named to Inc. Magazine’s distinguished list of America’s fastest growing privately held companies. AdvancedMD was ranked 675 on the magazine’s tribute to American business ingenuity and ambition with a three-year growth rate of more than 500 percent.
SALT LAKE CITY (Business Wire EON) August 22, 2008 -- AdvancedMD specializes in providing software used by medical professionals in three general categories – solo practices, group practices and third-party billing services. The system is used nationwide and across all major specialities mirroring the general distribution of physicians. The company continues to build on its market position in the growing Web-based Software as a Service (SaaS) category and has established itself as a preferred solution in the broader medical practice management category. As of July 2008, AdvancedMD provides services for more than 8,500 providers, and over 1 million claims transactions a month.
"We are pleased to again be recognized as one of the fastest growing companies in America," said Eric Morgan, president and CEO of AdvancedMD. "Having achieved the first major milestone as a technology start-up by proving that we have a viable product and business model, we are proud to now be recognized as one of the fastest growing companies in the country. This growth validates that we have been able to build the market leading product while establishing our profitability and scalability for the future."
The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies had to be U.S.-based, privately held independent – not subsidiaries or divisions of other companies. Additionally, companies must have been founded and generating revenue by 2004 with at least $200,000 and revenue in 2007 must have been at least $2 million.
"Our second annual Inc. 5000 continues the most ambitious project in business journalism," said Inc. 5000 Project Manager Jim Melloan. "The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth."
About AdvancedMD Software
AdvancedMD Software, Inc., headquartered in Salt Lake City, Utah, is the leader in Web-based practice management and medical billing software. AdvancedMD Software brings to market AdvancedMD, a full-featured billing and scheduling solution and AdvancedEMR, a flexible electronic medical records management system. AdvancedMD solutions include free technical support, world-class security, and fully HIPAA compliant accessibility. Winner of the 2007 CODIE AWARD for "Best Healthcare Management Solution (Vertical)" and the 2007 "Best in KLAS" award for customer satisfaction, AdvancedMD maintains a 98% customer retention rate and serves thousands of providers nationwide. For more information please visit www.advancedmd.com.
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