NEW YORK, August 16, 2022 – Inc. magazine revealed today that SmartLight Analytics is No. 148 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment — independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“I am so proud of the entire SmartLight team that has facilitated our growth and contributed to our success,” said SmartLight CEO and Co-founder Asha George. “We are also very thankful to all our partners and clients who have trusted SmartLight with their business and look forward to providing them with our continued commitment.”
SmartLight ranked 148th on the list of the 5,000 fastest-growing private companies in America. It also ranked 9th in Texas and 6th in Dallas. In the category of software companies, SmartLight ranked 16th nationally.
SmartLight Analytics works as an independent advocate for large self-funded employers to reduce the cost of employee healthcare plans by identifying fraud, waste, and abuse in medical, pharmacy, and dental claims. SmartLight remediates directly with third party administrators to secure refunds and works to eliminate reoccurring waste or fraud from future claims. Its team of analytic and medical experts have grown the Dallas-based software and analytics firm by more than 400 percent over the past year alone as its annual revenue grew in 2021. Its ongoing success is reflected in the company’s work with clients such as the City of Fort Worth, for which SmartLight helped return $4.9 million in employee health plan overpayments.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
Dr. Franklin Baumann, CMO and co-founder of SmartLight Analytics, said SmartLight’s success represents a desire among employers to not only reduce costs but also improve healthcare.
“We are very proud of our trusted partners’ commitment to their employees’ and families’ good health. Our growth reflects the strong partnerships and the real desire among employers to be good fiduciaries for their workforce.”
Franklin E Baumann, MD, SmartLight CMO and Co-founder
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
More about the Inc. 5000
Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. See the entire Inc. 5000 list.
About SmartLight Analytics
SmartLight Analytics combines the best inferential analytic models with a team of health insurance data and clinical experts to find fraud, waste, and abuse (FWA) in self-funded employer healthcare plan claims data. Working with large employers, typically 30,000 or more members, SmartLight Analytics reduces healthcare costs by 3 to 5 percent by not only identifying FWA in healthcare plans but also remediating directly with TPAs to secure refunds and prevent such issues in the future. An independent advocate, SmartLight helps lower costs without interrupting benefits.
About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc.
