Healthcare's Hottest No. 12: Treo Solutions

What it does: Treo Solutions offers consulting services, data analytics and business intelligence to commercial and government health plans.

How it grew to become one of healthcare's hottest: Listening to customers seems to be a common theme among companies on Healthcare's Hottest List, and Treo Solutions is no exception. “One of the keys to our success is the active role of our clients shaping us,” says President William Kelly. He says Treo, in business since 2002, has been able to be a true partner for its clients, creating products and services around their needs, rather than bringing tools to them they haven't requested. That has helped in narrowing the company's portfolio as well, but that's part of the strategy. “We try to stay focused on doing what we do well,” Kelly says. In doing so, the number of covered lives represented by Treo's payer clients has grown from less than 5 million at company's inception to 45 million covered lives today.

Another area of focus is human resources. Kelly says Treo's hiring process is particularly selective, which can make finding the right people a challenge, but also helps with retention.

Location: Troy, N.Y.

Top executive: William Kelly, president

Number of employees: 162

Annual revenue (2012): $25.4 million

Compounded revenue growth (2007-12): 39.5%

Website: www.treosolutions.com