Even in the midst of the pandemic, Softheon grew over 200%.
STONY BROOK, N.Y., March 18, 2021 /PRNewswire/ — Softheon, a leading cloud-based health insurance exchange and service provider, ranked on Inc. Magazine’s fastest-growing private regional companies list. Encompassing the New York City Metro region, this list represents the most successful independent small businesses with an average growth rate of 214%.
Softheon ranked on the Inc. 5000 nationally in 2018 and 2020.
“It is an honor and privilege to be placed on the Inc. 5000 Regionals list,” said Eugene Sayan, CEO and Founder of Softheon. “I take great pride in our team’s drive to make healthcare affordable, accessible, and plentiful. Achievements like these reinforce our mission and push us to continue solving healthcare’s biggest challenges.”
Currently, Softheon plays a large role in the new Special Enrollment Period (SEP) for the Affordable Care Act (ACA) marketplace. Equipping health plans with financial billing, premium payment processing, and account reconciliation technology, Softheon helps insurers face the influx of up to 30 million new entrants into the marketplace.
“This list proves the power of companies in the New York City area no matter the industry,” says Inc. editor-in-chief Scott Omelianuk. “The impressive revenues and growth rates prove the insight and diligence of CEOs and that these businesses are here to stay.”
The companies on the 5000 Regionals list employ more than 48,000 people and added nearly $9 billion to the New York City Metro area economy. In the past year alone, Softheon welcomed around 50 new employees, while seamlessly transitioning into a virtual working environment. Even with headquarters in New York, Softheon has virtually expanded its workforce across the country in the wake of the coronavirus pandemic.
About Inc. and the Inc. 5000 Regionals
The 2021 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2017 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2017. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2019 is $1 million.
As always, Inc. reserves the right to decline applicants for subjective reasons.
Founded in 2000, Softheon’s Software-as-a-Service (SaaS) and Business Process-as-a-Service (BPaaS) solutions solve complex operational and service challenges for health plans and government health agencies.
By offering modular solutions designed to integrate with existing systems, Softheon reduces administrative burdens by streamlining critical processes in healthcare. Our rapidly adapting technology and agile approach to implementation enables our clients to rapidly adapt to changing regulatory environments.
Softheon is an Agent, Broker, and Merchant of Record for health insurance marketplaces. We have been consistently recognized as a leading SaaS and BPaaS provider by Gartner, IDC, AHIP, ACAP, and HCEG. Trusted by CMS and 8 State agencies, Softheon’s clients span across multiple industries. In 2018, we were ranked the 23rd fastest growing company in the United States on Deloitte’s Technology Fast 500.
About Inc. Media
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 is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.