Published on February 28, 2014
The Fastest-Growing Companies in Healthcare A by-the-numbers analysis: 2013 vs. 2008
Abstract Each year, Inc. magazine releases its list of the 5,000 fastest-growing companies in the nation. To gauge how the health industry has evolved over the past five years, we took a look at health companies from Inc.’s 2008 and 2013 lists. • How quickly is the health industry growing relative to other industries? • Which types of health companies are growing most quickly? • Which types of health companies have the highest revenue per employee?
Health Industry Shows Above-Average Growth Logistics & Transportation Food & Beverage Health Software Engineering Human Resources Travel Financial Services Education Construction -100% -50% 0% 50% 100% 150% 200% 250% Percent Revenue Growth Health companies on Inc.’s list grew in overall revenues by close to 100% from 2008 to 2013, which exceeded the all-industry average growth of 69%.
Business Service Providers Are Most Abundant 6% 6% 8% 20% 17% 8% 12% 17% 2008 5% 5% 6% 6% 6% 12% 21% 15% 19% Business Service Providers HIT / HIT Consulting Medical Services Devices and Equipment Home Care Staffing Fitness / Supplements Biotech / Life Sciences Pharmacy / Pharmaceuticals Consumer Services 2013 Companies that provide business consulting services or perform outsourced business services dominated the health industry in both 2008 and 2013.
Business Service Providers Lead in Overall Revenue Business Service Providers Medical Services Pharmacy / Pharmaceuticals Staffing HIT / HIT Consulting $0 $1 $2 Total Revenue (in Billions) 2013 $3 2008 Though the proportion of business service providers stayed similar in 2008 and 2013, their overall revenues grew more than 100% to almost $4B in 2013. $4
Pharma Companies Lead in Revenue Growth Pharmacy / Pharmaceuticals Business Service Providers Staffing Medical Services Fitness / Supplements HIT / HIT Consulting Home Care Biotech / Life Sciences Devices and Equipment Consumer Services -100% 0% 100% 200% 300% Percent Revenue Growth Pharmacies and pharmaceutical companies grew more than 200% in revenues during the 5-year time period we analyzed.
Pharma Saw Highest Per-Firm Revenue in 2013 Pharmacy / Pharmaceuticals Business Service Providers Staffing Fitness / Supplements Consumer Services $0 $30 $60 $90 $120 $150 Average Revenue Per Firm (in Millions) 2013 2008 The highest revenue per firm was observed in pharma companies in 2013, with an average of $131 million per company.
Pharma Saw Highest Per-Employee Revenue in 2013 Pharmacy / Pharmaceuticals Business Service Providers Fitness / Supplements Devices and Equipment Consumer Services $0 $300,000 $600,000 $900,000 $1,200,000 Revenue Per Employee 2013 2008 Pharma companies also earned the highest revenue per employee in 2013, with $1.1 million per employee—a metric with strong implications for profitability.
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