Early on in 2016 when the team at Healthcare Informatics started discussing ways to enhance our Healthcare Informatics 100 list—a compilation of the top health IT companies based on HIT revenues from the most recent fiscal year—there was a common desire amongst the editorial and marketing teams, and, other leaders at our company to make this year more about healthcare IT thought leadership. After all, it’s the vendor community’s knowledgeable leaders that in so many ways impact how the health IT landscape shifts.
HCI hit the ground running with this notion at the Healthcare Information and Management Systems Society (HIMSS) conference in Las Vegas earlier this year, setting up on-site video interviews with various thought leaders from vendors that made last year’s list. The videos were a huge hit across the industry, as vendor executives answered questions about the most significant trends that are currently impacting the health IT environment. For those companies that did partake in this process, their videos were featured with their listing this year.
What’s more, for the first time ever, vendors were asked to estimate the percentage of revenue earned in all of their product segments. The product segment breakouts were displayed in pie chart form, as were the percentages of the major revenues served by each company (example below). We plan to do more breakout lists in June based on the product percentage data that vendors offered us, so stay tuned!
In addition, thanks to some great work by the Healthcare Informatics web team, we were able to show year-over-year revenue changes for each company that filled out the appropriate data. The Healthcare Informatics 100 list is undoubtedly a unique industry offering, and has been compiled for more than 20 years, but we think that these enhanced visual features make for a much better reader experience, and also more accurately depicts the trends that we are seeing in the HIT marketplace.
Now, onto the list! As of Monday, May 23, all 100 company listings have been made public on our website. We released the list in quartiles this year, so there indeed was a level of anticipation among the vendor community that we haven’t seen in prior years. But now that the list is complete, let’s dive into some of the details of this year’s compendium.
Staying strong at #1: As noted in last year’s Healthcare Informatics 100 odds and ends blog, last year marked the first time that, on top of including provider-based revenue that they have historically listed, vendors also were able to include health IT revenue derived in the payer, health information management, employer, and vendor-to-vendor markets as well. Optum, a consulting and analytics division of the country's largest health insurer, UnitedHealth Group, certainly benefitted from that major change, and did so once again this year, with a revenue of nearly $6.2 billion, by far the highest ever on our list. This number represents a nearly $1 billion jump from last year’s revenue, which also ranked #1.
The health IT giants…remain giants: We all know who the biggest names are in healthcare technology. In fact, you pretty much just have to look our top quartile of companies to see the familiar names, with 26 companies this year with an HIT revenue of more than $500 million. It’s interesting to see that just about all of the top companies on this year’s list were also at the top of last year’s list, and previous lists before that. The general trend of the Healthcare Informatics 100 is that the big names flex their virtual muscles. To this end, I point you to our Most Interesting Vendor stories, where we profiled three companies ranked in the top quartile of the list, taking a deeper look at what made 2015 so interesting for each of them. The stories of Leidos, Nuance, and athenahealth can be seen here.