It’s official. Prochant is honored to appear back-to-back on the Inc. 5000 list. It’s the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000. It is thanks to our amazing clients and team that we attract increased attention and accolades as we further this consistent growth path.
In the past six years, Prochant has advanced at a consistent Compounded Annual Growth Rate (CAGR) of over 25%. We are mindful that we could not have achieved this growth without the trust that you have given us. Prochant works with a singular mission in mind: TO MAKE OUR CLIENTS AMAZING. With that said, I wanted to give you an insider view into the not-so-secret keys to our success.
Modernizing RCM and Back Office - Technology and Consulting Capabilities:
Over the past three years, we have made significant strides in technology and consulting capabilities with the goal of increasing yield (DSO, Payment Rate, etc.) and reducing cost to collect. Prochant's suite of products include business intelligence, RCM monitoring, AI, decision support, automation, and workflow management. Many of our customers leverage our expertise in revenue cycle analytics, consulting, and robotic process automation as well.
Our team’s focus provides unique expertise in product tech and consulting with CTO, CPO, cloud engineering, robotic process automation, and data science experts. Our latest improvements include refining these features and capabilities within our current client base. We will launch them into the broader market over the next few months.
Managing Risk and Data Security:
It’s well established that every third party that touches your data increases your security risk exponentially. Prochant mitigates that risk with an aggressive twofold strategy:
- 100% Employees and No Subcontractors - Each and every person that works on your account is a Prochant team member. Once it’s in our care, it stays there.
- HITRUST CSF Certified Environment - With over a million dollars invested into our security infrastructure, Prochant achieved HITRUST CSF Certification. HITRUST is the gold standard in our industry for its comprehensiveness and applicability of the control requirements, depth of the assurance process, and level of oversight that ensures accuracy.
Managing Cost and Scalability - Developing Global Talent:
Inflation, talent development, and The Great Resignation are three hot topics of the post-COVID business world. Access to affordable, dependable talent is crucial to any business.
Over the past 16 years, Prochant developed global talent across the US and India. Our US team works on a hub-and-spoke model with a corporate office in Charlotte and employees spread across 24 states. In India, we have employees spread across four delivery centers in three cities. The success of this approach is a steady pace of organic growth that allows us to internally develop leaders with long tenure and deep expertise in this specialized field.
Aligning Toward the Future:
US healthcare is changing. Over 250 billion dollars of healthcare spend is expected to move over the next few years from acute care into non-acute care. Homecare, home medical equipment, infusion, hospital at home, and other segments of healthcare are gradually all becoming one to be identified as a new segment, “home-based care.” We are building expertise and teams in every area to help you navigate this transition.
I personally guarantee that Prochant always works with a growth mindset to rise to the growing challenges of the healthcare market, and I thank you again for being a big part of this touchstone of our accomplishments.
Sincerely,
Mathew Mammen