Keys to managing hyper growth

By Terrence Ryan, CEO LaunchPoint

Just received a round of funding? Have a plan to manage the rapid transition an influx of cash brings.

Terrence Ryan - LaunchPointStart-ups apply for funding to help with operational support, sales and marketing, product development, and to scale their businesses. While a critical amount of time is spent during the funding phase, once you’ve gotten the good news that you have successfully completed a capital raise, you need to be ready for rapid acceleration. Realize it took a whole lot of work to get to where you are; make sure you are ready to handle the challenges that come with expansion. Below are ten keys to managing hyper growth:

Ten Keys to Managing Growth

  • Think beyond yourself – realize what you are trying to accomplish may be bigger than you.
  • Surround yourselves with people who can do the job – getting the right person in early is a huge leveraging point.
  • Recognize your leadership team is critical to driving the direction of the company. Empower them to act.
  • Focus on the bounds of risk – aim for flexibility with some stakes in the ground. Remain flexible but focused.
  • Decide on three stretch goals and be pliable and moldable in early stages, but with direction and clarity.
  • Make a plan to protect quality during rapid growth including products and people.  Hire the best talent you can find—those that think strategically but can execute.
  • Plan a 3-5 year build. Nail the market strategy, scale the business, put the right pieces in place, and then make key decisions at a checkpoint in 3 to 5 years.
  • Focus on solutions for customers, not infrastructure.
  • Remain flexible and shift priorities as needed to respond to the market.
  • Focus on over-serving clients— “serve clients with religious fervor”

In 2008 I co-founded LaunchPoint, a provider of payment integrity and risk management solutions, software, and services for healthcare organizations.  The company has enjoyed steady growth and when we were ready to scale the business, we successfully raised $22.5 MM in funding from Carrick Capital Partners. We’ve used the investment to fund new product development, expand sales and marketing, and enhance the client experience at LaunchPoint and our two divisions, Discovery Health Partners and Ajilitee.

LaunchPoint was recently named the 4th fastest-growing company on the 2016 Crain’s Chicago Business Fast 50 list, marked by our impressive five-year growth of nearly 4,700%. Our success can be attributed to our ability to constantly evolve product offerings, retain talent, and grow our client base, which now comprises 46 health plans, including three of the five largest plans in the U.S.

Our solutions help our clients address one of the most pressing issues facing health plans today: how to protect revenue and eliminate waste and inefficiency in the core administrative functions of claims payment, eligibility management, and member risk profiling.  Our payment integrity and risk management software, solutions, and analytics help health payers improve recoveries and revenue, avoid costs, and influence member well-being.

 

 

Rey VillarKeys to managing hyper growth
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LaunchPoint Swellness program jump starts marathon achievements for CTO

The American Heart Association recognized LaunchPoint for the third consecutive year with the Gold-Level Fit-Friendly Worksite Award. As a business serving the healthcare community, we make good health a priority for our employees and our Swellness programs reflect this commitment. LaunchPoint’s CTO John Bair recently completed the Boston Marathon and acknowledged the Swellness program helped get him started.

John Bair - marathon manPersistence, dedication, determination – all traits of a successful entrepreneur …and a marathon runner. LaunchPoint’s Chief Technology Officer John Bair, is both, having just completed his fourth marathon in three years by finishing the 2016 Boston Marathon. John credits the LaunchPoint Swellness program with giving him the push he needed to get started. A self-proclaimed “computer geek” who wasn’t “athletic or fit” for much of his life, John recalls when LaunchPoint gave pedometers to all its employees in 2013.

“I remember the first Walking Wednesday, when I, along with fellow employees, started counting my steps. From there, I realized if I can walk, I can run!” He sticks to the Walking Wednesday schedule even when he’s not in the office, feeling the camaraderie of his co-workers who are also discovering the joy of a good walk for the first time or who are regular athletes who feel more productive after the fresh air.

After John ran his first 5K, he began building his mileage and commitment to running. Drawing upon his father’s inspiration as a runner (he finished the Boston Marathon in his 50s), John focused on his training, gradually adding a 10K and finally, his first marathon in Phoenix in 2014.  A special milestone was running a 5K race with his dad last year, who placed first in his age group (80 and over).

“Running has given me so much – increased longevity and health as well as a new outlook on life. It also allowed me to connect with my dad through a shared interest. I’m so grateful to LaunchPoint for giving me the incentive to get started.”

When John reflects back on the training and miles spent on the road, he has learned a few life lessons that are applicable off the road too:

  • No matter how hard you think it’s going to be, it’s harder than you thought
  • There’s always a point where you question why you are doing this in the first place
  • It gets so much easier when there are a lot of people cheering you on
  • It’s a really great feeling to finish something that you weren’t sure you could do when you started
  • You forget the pain pretty quickly – I’m already thinking about what I could do better next time!

John is hopeful he can inspire others to find something active they like. “For me running is the activity that motivates me and I’m noticing improvements in other aspects of my life too. I have a sharper short-term memory and my mental acuity is stronger. I’m committed to a healthy and happy lifestyle and I attribute this to running.” In addition, John has lost weight and is in better shape than he was before he started tracking his steps three years ago.

And John has no plans to slow down. His path to the starting line of the Boston Marathon literally started at LaunchPoint’s front door.

 

 

 

Rey VillarLaunchPoint Swellness program jump starts marathon achievements for CTO
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Discovery Health Partners, a LaunchPoint division, offers new enterprise risk management program for health payers

New solution addresses industry transformation to lower costs, improve quality, and deliver better health outcomes

 

ITASCA, IL (May 4, 2016) – Discovery Health Partners, a LaunchPoint division, today announced the launch of its new enterprise Risk Management Program for health plans.  Discovery Health Partners Risk Management Program addresses the health plan industry’s transformation to consumer-focused, outcomes-driven models that address increasing regulatory requirements while more accurately aligning premium payments with member risk factors.

The Risk Management Program enables health plans to achieve a balanced, holistic enterprise strategy that fully leverages risk management outcomes, insights, and resources across their organizations.  This approach enables proactive collaboration with providers, better aligns products with current and future member health needs, and improves operational performance, all with focus on reduced cost and improved healthcare quality across the industry.

“Risk management can often be seen in terms of algorithms and mandates, but we are encouraging payers to embrace a next-generation Risk Management Program approach like ours before they are left behind by their competition,” stated Paul Vosters, President of Discovery Health Partners.  “Our Risk Management Program can guide health plans through the transition to value-based programs with an eye on long-term financial health and longevity.”

Discovery Health Partners Risk Management Program combines the processes, capabilities, analytics, and transparency that allow health plans to achieve accurate member health risk profiles.  This drives improvements throughout the organization including member care, revenue management, provider performance, and network management.  Taken together, these improvements lay the groundwork to dramatically improve member health and reduce plan medical costs.  Key features of the new solution include:

Risk Maturity Assessment: This initial diagnostic and operational assessment provides health plans with an objective validation and assessment of the successes, challenges, and opportunities in their current risk management capabilities. It results in a roadmap for plans at any level of maturity for an ongoing Risk Management Program at a level of investment and functionality that is appropriate for the health plan and that increases their sophistication year to year.

Risk Management Program: Based on the outcomes of the Risk Maturity Assessment, Discovery Health Partners next proposes a multi-year Risk Management Program consisting of the appropriate combination of four key components: Diagnostic Coding Accuracy and Completeness, Member and Provider Intervention and Retention, Population Health Enablement, and Cross-Departmental Risk Integration.

Risk Center of Excellence: The Risk Center of Excellence (COE) refers to the combined capabilities of the Discovery Health Partners consulting team with the data, technology, and operational excellence of our broader organization to help clients address an increasingly critical area of their business and financial operations. Clients will have access to these resources throughout the partnership with Discovery Health Partners, as they build their own internal expertise to execute Risk Management Program activities.

“For many health plans, a key goal of risk management has been to protect and restore premiums,” said Jordan S. Firfer, Discovery Health Partners Vice President of Product Strategy.  “A modern Risk Management Program is not only about maximizing premiums from budget-constrained and budget-neutral reimbursement models, but also about a long-term, proactive approach that anticipates the needs of members and optimizes premiums in the future. Risk management holds enormous untapped industry potential, not only to focus on operational care gaps, but to improve transparency, quality, and outcomes throughout the healthcare industry.”

The Discovery Health Partners Risk Management Program team will dig more deeply into the topic at a webinar, “Next-Generation Population Risk Management,” on Tuesday, May 10, at noon Central time. To attend, please register at http://hubs.ly/H02JDk70.

To read more about the Risk Management Program from Discovery Health Partners, please visit www.discoveryhealthpartners.com/risk.

 

About Discovery Health Partners

Discovery Health Partners offers payment integrity and risk management software and solutions to help health plans and other healthcare organizations improve recoveries and revenue, avoid costs, and influence member well-being. We offer a unique combination of deep healthcare expertise and powerful technology solutions to help our clients improve operational efficiency, achieve financial integrity, and generate measurable results.

About LaunchPoint

LaunchPoint operates businesses that provide information-driven solutions, software, and services for healthcare organizations. Its two divisions are Discovery Health Partners, a provider of payment integrity and risk management software and solutions for healthcare payers, and Ajilitee, a healthcare information and analytics consulting business. LaunchPoint has been named two years in a row to the Inc. 5000 list, recognized as one of the country’s fastest growing companies. In 2014, LaunchPoint was named the 100th fastest-growing company on the 2014 Inc. 500 list and #14 in Healthcare.  More information is available at www.launchpointcorporation.com, www.ajilitee.com and www.discoveryhealthpartners.com.

 

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Rey VillarDiscovery Health Partners, a LaunchPoint division, offers new enterprise risk management program for health payers
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LaunchPoint announces plans to hire 120 new employees

 

ITASCA, IL (October 1, 2015) – LaunchPoint, a provider of cloud-based solutions, software, and services for healthcare organizations, announces plans to hire 120 new employees before year- end to accommodate a growing client base.  The firm, along with divisions Discovery Health Partners and Ajilitee, has doubled its office space by an additional 15,173 square feet at its Itasca, Illinois, headquarters and plans to add additional space again in January 2016 to accommodate the 73 percent increase in employee headcount. The company is expanding product development and its payment integrity suite of solutions and software after an influx of $22.5MM in venture capital funding from Carrick Capital Partners.

“This phase of escalating growth is a sure sign that our clients in healthcare organizations are looking for enterprise-wide solutions to help them manage payment integrity more nimbly, reduce costs and waste in their claims payment processes, and derive insights from their data,” stated Terrence Ryan, LaunchPoint CEO. “Building smart, competent teams and ramping them up quickly with a common goal of delivering the best possible results for our clients is one of my favorite challenges as an entrepreneur.”

New positions available include jobs across the organization: Business and Call Center Operations; Business/Data and IT Services; Product Development and Strategy; Legal; Sales and Marketing; HR/Recruiting; Office Administration; and Finance/Accounting.  A complete list of openings is available here.

LaunchPoint’s current clients represent 45 healthcare organizations, including three of the top-five largest health plans and four Blue Cross Blue Shield plans. Year-to-date, LaunchPoint has added 15 new client relationships, including one of the largest health insurers in the U.S., and expanded multiple existing client agreements. Discovery Health Partners, LaunchPoint’s largest division, has 14 million lives under management and was recently named a Top 100 finalist in the Chicago Innovation Awards.

 

About LaunchPoint

LaunchPoint operates businesses that provide cloud-based solutions, software, and services for healthcare organizations. Its two divisions are Discovery Health Partners, a provider of payment integrity software and solutions for healthcare payers, and Ajilitee, a healthcare information and analytics consulting business. LaunchPoint has been named two years in a row to the Inc. 5000 list, recognized as one of the country’s fastest growing companies. In 2014, LaunchPoint was named the 100th fastest-growing company on the 2014 Inc. 500 list and #14 in Healthcare.  More information is available at www.launchpointcorporation.com, www.ajilitee.com and www.discoveryhealthpartners.com.

 

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Rey VillarLaunchPoint announces plans to hire 120 new employees
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Job Openings: Business Development

LaunchPoint is looking for talented individuals for open positions on our business development (sales) team. Click one of the links below to view the job description and submit an online application:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rey VillarJob Openings: Business Development
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2015 Annual Medicare Compliance Summit

Essential Strategies for Ensuring Audit Success: Program Audit, RADV, FWA

Date: September 24-25, 2015

Location: Baltimore, MD

The Annual Medicare Compliance Summit is designed for healthcare payers, providers, consultants and related companies involved in Medicare and Medicaid, seeking to optimize their compliance operations and eliminate violations at every level.

If you’re planning to attend the 2015 Medicare Compliance Summit, please stop by our table to learn more about the Discovery Payment Integrity™ suite, including our MSP validation and eligibility management solutions.

Additional information can also be found on the Medicare Secondary Payer and Eligibility Management resource pages.

 

 

Rey Villar2015 Annual Medicare Compliance Summit
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Job Openings: Client Advocates

 

Discovery Health Partners, a division of LaunchPoint, is looking for talented individuals for client advocate positions. Click one of the links below to view the job description and submit an online application:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rey VillarJob Openings: Client Advocates
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