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Wow, what a roller coaster ride! Over the past two years, we’ve all faced a variety of significant challenges - some shared, and others very personal. Running a startup during a pandemic brought hurdles I never anticipated as a cofounder.
As a fast-growing technology company in an industry directly impacted by COVID, we rarely pause to catch our breath, let alone celebrate wins along the way. Recently, I decided it was time to do just that. With that in mind, I asked members of the Quinsite team to share achievements and milestones they were most proud of over the past year. It was a great opportunity for everyone to realize the impact of their hard work, and to feel proud of how far we’ve come despite less-than-ideal circumstances.
It is with great pride that I will now share some of our team’s key accomplishments from 2021. I hope this inspires you to do the same exercise with your own teams!
Gaining Traction
Growth and expansion were top priorities for Quinsite in 2021. We surpassed our goals on many fronts: Increasing annual recurring revenue (ARR) by 70% over prior year, maintaining average year over year (YOY) revenue growth of 75%, expanding our customer base to 21 states across the U.S., and cementing a long-term organizational relationship into a synergistic strategic partnership.
We invested in discovery efforts that moved us a big step forward in understanding and defining the ROI our platform delivers. Our amazing customers offered detailed accounts of their experiences with insights into the broad spectrum of value they are realizing as a result of our customer-driven solutions. It is deeply rewarding to hear so many success stories about how we’ve helped them navigate the pandemic, drive measurable gains across their entire organization, and most importantly deliver high quality patient care.
To support our growing list of customers while expanding into new markets, we tripled the size of our team! We strategically placed industry professionals in key leadership roles, creating a deep bench of experts who boast a broad range of essential skillsets. I am especially proud of expansion upon our people-focused values with the addition of a competitive benefits offering, implementation of forward-thinking PTO and parental leave policies, placement of women in the decision-making roles, cultivation of a stimulating and enjoyable work experience, and ongoing recognition of everyone’s unique and valuable contributions.
Enhancing Our Platform
Our Comprehensive Healthcare Analytics Platform™ continued to grow as well, with many client-driven enhancements designed to optimize quality of care, patient outcomes, resources, workflows, referrals, and marketing efforts.
Mobile app enhancements included features to improve the flow of valuable physician time and patient data points that are logistically challenging to capture in dynamic clinical settings, along with a tool that provides real- time feedback for physicians to track productivity throughout their shift (similar concept as a motivational daily steps tracker). In addition, we rolled out new alerts and notifications that keep administrators on top of billing discrepancies, quality metrics, physician productivity, patient volumes, machine downtimes, physician referrals and other key practice management areas that require proactive investigation and problem-solving.
Partnering For Success
Key partners were instrumental to Quinsite’s momentum in 2021. We are especially thankful for their belief in what we are building and the opportunities they helped us create.
Quinsite joined RevUp Capital’s portfolio of fast growing, revenue-driven companies seeking non-dilutive, early-stage funding. We spent a full year engaged with their dedicated growth team learning the best strategies, tools, and processes to build a robust marketing engine that accelerates our expansion and delivery of high-quality, high-value solutions to further meet the needs of provider groups and organizations nationwide. These efforts produced a new website that more accurately conveys our purpose and offerings, a better understanding of the healthcare analytics landscape, how to identify the key problems today’s healthcare leaders face and effectively communicate how Quinsite helps solve for those successfully.
After several years collaborating with and supporting individual members of Strategic Radiology, a coalition of thriving privately-owned Radiology practices, we joined forces to enhance the power of their aggregate data and develop metrics for improved workflows and revenue cycle optimization. This mutually beneficial partnership will provide all member groups access to our robust reporting and expert team while offering Quinsite a deeper connection with best-in-class healthcare leader insights and ideas.
Expanding Thought Leadership
Our team keeps a pulse on the ever-changing healthcare landscape to identify pain points that Quinsite might be able to address. By virtue of being a startup, we are constantly approaching problems with a fresh perspective. It is part of our culture to ideate, test, iterate, and perfect possible solutions for a variety of challenges. Through the act of sharing our discoveries for public consideration, we are beginning to emerge as thought leaders in the healthcare analytics space.
In 2021, the Radiology Business Management Association (RBMA) invited my cofounder Jeff Maze, to share his point of view on the future of interoperability in healthcare (spoiler alert: there is much work to be done!). Additionally, our team collaborated with RBMA to upgrade their Accounts Receivable Performance Survey with dynamic reporting and a modernized user interface.
We’ve also begun introducing our Comprehensive Healthcare Analytics Platform™ to Pathology, Anesthesiology, and Emergency Medicine groups, building upon our hard-earned reputation helping Radiology groups transform the way they look at data and run their business.
Moving into 2022
My sincerest gratitude goes to our amazing team members, customers, partners, investors, and advisors. Q1 of 2022 is off to an amazing start, and I am excited for what is to come as we put long awaited plans in motion. We will continue to lead and create with integrity, always for the benefit of the people we serve. More to come soon!
Connect with our team to understand the value your practices are realizing with Quinsite's Comprehensive Healthcare Analytics Platform™
