What it does:
It provides managed long-term care and support services to elderly, special needs and dual-eligible individuals, focused on keeping them out of hospitals and nursing homes.How it grew to become one of healthcare's hottest:
Independent Living Systems' success has come by being ahead of the curve in focusing on reducing unnecessary hospital admissions. Though the company was founded in 2001, the proprietary software system for managing patient care and social services was in development as early as 1998. “It's better medication management and nutrition management. It reduces emergency room visits and hospital readmissions,” says Nestor Plana, founder, president and CEO.
The company piloted a program in 2008 to reduce hospital readmissions, long before it was a hot topic.
Although the company expects to double its revenue to nearly $200 million next year, Plana says the company looks far beyond the bottom line. “If you provide patient-centric healthcare, the federal government wins, the state wins, health plans win, but most importantly, the patient wins,” he says.
Nestor Plana, president and CEONumber of employees:
300Annual revenue (2012):
$78.3 millionCompounded revenue growth (2007-12):