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Healthcare's Hottest No. 9: Solstice

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

What it does: Solstice Benefits provides dental, vision, pharmaceutical, disability and life insurance benefit plans to groups and consumers.

How it grew to become one of healthcare's hottest: Solstice Benefits' leaders say the company's differentiation in the insurance market has helped drive its growth. Solstice's dental and vision plans take the best features of the most popular plan styles—the open access that you get in a PPO and the cost savings associated with an HMO. According to Chief Operating Officer Carlos Ferrera, providers and employers prefer a fee-for-service arrangement. And patients like the choice, flexibility and ease of making appointments through a plan that offers a broader network of providers.

UnitedHealthcare was one of the first insurers to recognize Solstice's model and partner with them to sell their plans. From there, their expansion has largely been the result of word of mouth, Ferrera says. But as the company expands, leadership is working to maintain the culture of a smaller company that customers seem to find appealing. “We have that boutique feel to us,” says Alissa Gavrilescu, director of marketing. “And that's how we're carving out a brand.”

9. Solstice

Location: Plantation, Fla.

Top executive: Carlos Ferrera, chief operating officer

Number of employees: 85

Annual revenue (2012): $21 million

Compounded revenue growth (2007-12): 51.5%

Website: www.solsticebenefits.com





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