MedAct Software sustains growth, continues innovation
DALLAS, Aug. 14, 2012—MedAct Software, a provider of integrated business solutions for HME/DME companies, announces record-setting growth thus far in 2012. The company has continued its growth from the previous year with double digit increases in revenue. In the last three months, top-line revenue increased more than 33 percent.
The company also has added a significant number of new providers, as well as increased software sales and services, to its existing roster of 700-plus providers. This success has supported investments in both personnel and R&D that has introduced additional flexible and efficient solutions to the market in 2012.
“Our ability to sustain organic growth reflects the needs of our expanding customer base who seek powerful solutions to help strengthen their bottom line,” said Gregg Timmons, president and CEO. “As volumes increase and margins decrease, productivity and efficiency are paramount for our customers. MedAct’s innovations have consistently proven to improve profitability, as well as compliance, which can mitigate the threat of expensive audits. These are the primary factors enabling strong customer retention and successful business development efforts.”
In the first two quarters of 2012, MedAct added approximately 100 new capabilities and enhancements to its platform. There were significant purchases from both new and existing customers of MedAct Retail Point of Sale (POS), a solution that manages storefront transactions while automatically updating inventory, and MedAct Document Manager, which provides a “paperless” environment and improved workflow. Staff also has increased in key areas by 40 percent, with new personnel in technology development, customer service and implementation.
“MedAct is profitable, debt free and has a decided advantage in the marketplace, as we are not at the mercy of short-term Wall Street venture capitalists seeking a swift exit,” said Timmons. “The company has been in the HME/DME market for more than 25 years and is still owned by our founders, which provides us with a unique perspective when working with our customers. To that end, we are deeply committed to reinvesting in our technology and talented people to constantly improve our offerings. “