Electronic health record management has become big business and a Tampa-based InSync reaps the rewards of its early entry into the market.
InSync Healthcare Solutions, a Tampa company that specializes in software for managing medical records, says 2019 was a record year for it in several areas, including revenue growth, hiring and new client acquisitions.
The privately held firm was founded in 2007, and although it declines to disclose its revenues, President Roland Therriault tells Coffee Talk sales have been growing by 40%, year-over-year, “over the past couple of years.”
Therriault expects to replicate that pace, if not eclipse it, in 2020.
“One of the sayings around here is, ‘It’s our best month ever,’” he says. “I never get tired of hearing that, and there’s no reason for us not to believe that we’re going to continue this pace.”
InSync has clients in every state. In addition to electronic health record management, the firm’s Software-as-a-Service offerings also help health care providers manage billing, revenue cycles and medical transcription.
Therriault, who’s been with InSync for 10 years, serving as president for the past five, says providers of mental and behavioral health services — traditionally an underserved market — have been a rich vein of growth for InSync. In the early days of EHR implementation, he explains, clinics that specialize in such services were initially left out of federal subsidies meant to incentivize the adoption of EHR management software.
Funding “was only available for primary care and some subspecialties,” Therriault says. “That’s where all the focus went; that’s where all the money was.”
The client acquisition spree has led InSync to grow its workforce. According to a news release, the firm’s payroll rose by 35% in 2019. Therriault says the company now boasts 325 employees, including more than 110 at its Tampa headquarters. (It also has an office in Vadodara, India.)
InSync also made a number of key executive hires, including Director of Human Resources Reeves Judy, Director of Marketing Allie Perry and Director of Product Jose Dueñas. “When it comes to acquiring talent, 2019 was an exceptional year for us,” Therriault states in the release.