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Healthcare's Hottest No. 7: Impact Advisors

By Modern Healthcare
Posted: September 28, 2013 - 12:01 am ET

What it does: Impact Advisors provides strategic advisory and implementation consulting services for healthcare information technology.

How it grew to become one of healthcare's hottest: When brothers Andy and Pete Smith started Impact Advisors in 2007, Andy says they had fairly modest aspirations—to hang their own shingle and attract some clients. But by the middle of year two, they had already met and exceeded their five-year business plan.

President Andy Smith credits a focus on hiring the right people—the kind who can do great work but also “someone that you'd want to go have dinner with”—in addition to a client-centric strategy that puts their leaders in the field every day. It's helped propel the company's growth through word-of-mouth referrals, rather than through a sales team or acquisitions. “Growth is a symptom and byproduct of our strategy,” he says.

Though he admits they may have sacrificed some expansion in order to maintain their culture, it hasn't appeared to slow the company much. Impact Advisors' compounded annual growth has been about 80%.

7. Impact Advisors

Location: Naperville, Ill.

Top executive: Peter Smith, CEO

Number of employees: 140

Annual revenue (2012): $34.7 million

Compounded revenue growth (2007-12): 80.1%


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