November 7, 2013
Care coordination innovator Quantum Health announced today that Inc. magazine has named the company to the Hire Power Awards (which recognizes private businesses that have generated the most jobs in the past three years), as well as The Build 100, a new business index that honors companies that have expanded employment in each of the past five years.
At a time when the U.S. Bureau of Labor Statistics reports that only 222,000 full-time jobs were added in 2012, Inc.'s Hire Power Awards ranked Quantum Health third in Ohio in the Health category for a net employment gain of 86 jobs from January 1, 2012 to June 30, 2013. Quantum Health also earned a spot on The Build 100 list (an index created by studying the growth performance of millions of U.S. midmarket companies between 2007 and 2012) by achieving a five-year employment growth rate of 313 percent.
Quantum Health CEO Kara Trott remarked, "These awards are really good news. Not only do they put the spotlight on Quantum Health, but also the Columbus economy. While they demonstrate we're growing in the pursuit of our passion and commitment to help take the unnecessary cost and confusion out of healthcare for our customers, it also lets people know that the Columbus market is vibrant and we're adding highly skilled, high-paying health care jobs," she added.
As one of the 50 Fastest Growing Women-Owned/Led Companies, Quantum Health is also a 5-time honoree on Inc. magazine's 500/5000 List of Fastest Growing Companies and was recently ranked 9th among Ohio-based healthcare companies and among the top 1/3 nationally for 2013. Last year Quantum Health CEO Kara Trott announced that the company will expand local operations to create at least 525 full-time jobs, more than doubling its "healthcare workforce of the future" over the next three years.
Quantum Health is among the 437 private growth companies that are Hire Power Awards honorees, leading the way in creating more American jobs. While the honorees are found across the country in 25 categories, industries with the most Hire Power companies include health, financial services, software, human resources and IT services. States with the most honorees include California, Florida, Texas, Ohio, New York, Massachusetts, Illinois and Utah.
"A full 72 percent of all new U.S. jobs are created by 1 percent of companies," says Inc.'s economist-in-residence Gary Kunkle. "The Build 100 represents that top 1 percent of that 1 percent. They should be celebrated, but they must also be studied so that we can better understand — and replicate — the decisions, priorities, investments, and strategies that helped them grow." The Build 100 is not just another business award; it is a predictive tool built on rigorous economic research showing the only statistically significant predictor of a company's future success is sustained job growth over time. Every Build 100 company has added jobs in each of the last five years; a feat worth celebrating in any economic climate, he added.
Inc. will formally unveil the full Build 100 list in its March 2014 issue and on its affiliate website TheBuildNetwork.com in early 2014. To make the cut, companies had to have achieved employee growth in 2008, 2009, 2010, 2011, and 2012. In addition, all Build 100 companies have agreed to participate in a year-long research initiative studying the key drivers of sustained growth.
Hire Power EligibilityThe Inc. Hire Power Award is for US-based, private companies (both for profit and non-profit). Companies must have been founded in 2011 and must complete the Employee Verification Report. Top award finalists may also be asked to provide their 2012 EEO Employer Information Report. Award categories include most jobs created in the US, most jobs created by state, most jobs created by industry and highest employee growth percentage). Companies featured in Inc.'s November issue represent the top tier winners for the Higher Power Award and a complete list of the winners can be found on www.Inc.com.
Build 100 Methodology
Analysis began with 22 million establishments. Less than .01 percent of these exhibited at least five consecutive years of job growth - the only statistically significant predictor of a company's ongoing success. Quantum Health is among this elite class of smart, strategic growth companies that also includes HubSpot (709 percent employee growth over 5 years), Fractal Analytics (940 percent), Coyote Logistics (3,200 percent) and Big Ass Fans (131 percent), among others.
The Build 100 is not ranked. To qualify, companies must have been founded and generating revenue by December 31, 2008. They had to be U.S.-based, for profit, and independent — not subsidiaries or divisions of other companies. The minimum number of employees for 2013 is 85; the minimum 2012 revenue was $8.5 million. All Build 100 companies must also agree to participate in a year-long research initiative studying the drivers of sustained growth. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on The Build 100 will be featured in the March 2014 issue on the affiliate website TheBuildNetwork.com. For more information, visit thebuildnetwork.com.