Meet 40 companies on healthcare's fast track

In an era when the healthcare industry is no longer growing faster than the rest of the economy, it takes something special to rack up double-digit or better gains for five consecutive years. The 40 members of Modern Healthcare's 2013 class of Healthcare's Hottest met that criteria and more.

Our No. 1 company, Recondo Technology, achieved a spectacular 246% compound annual revenue growth over the period by mastering the revenue-cycle management services business. No. 40 on the list, Emergent Medical Associates, is one of a number of fast-growing management and staffing firms that are helping providers weather the ups and down of the increasingly turbulent healthcare field.

In the second year Modern Healthcare has compiled the list, industry suppliers continue to dominate the ranking. Among the applicants, supplier firms captured 27 of the top 40 slots. The remainder was split between physician services (5); hospitals or hospital systems (4) and payers (4).

While companies considered for ranking on the Healthcare's Hottest list did not submit audited financial statements, the financial data and growth calculations were reviewed by Katz, Sapper & Miller, a certified public accounting firm based in Indianapolis.

What did these companies do to grow so well? Read on and find out.

Merrill Goozner, editor