Signallamp Health Inc. (Signallamp), a Scranton-based remote clinical services provider, has been named one of the fastest growing private companies in the U.S. by Inc. magazine. Signallamp ranked No. 18 among health sector companies and No. 240 overall with three-year revenue growth of 1,844% on the annual Inc. 5000 list, the most prestigious ranking of the nation's fastest growing private companies.
Signallamp provides remote clinical services on behalf of health care providers, adding value to their practices and helping their patients manage chronic conditions, behavioral health and Social Determinants of Health through telemedicine. In light of the global pandemic, the care that Signallamp nurses provide has grown especially important. It's a key way for patients to keep in touch with their doctors between visits and stay in control of their health.
"Nurses are the foundation of bricks and mortar healthcare; they should serve a similarly stabilizing function in a remote care model. I am extremely proud of our team, which has built the infrastructure for multi-channel remote patient engagement and works tirelessly to meet patients' needs every day. This is a real honor and validates our personalized approach to engage patients in between provider visits," said Drew Kearney, co-founder and CEO.
"From the beginning we focused on building personal relationships with our patients," said Jennifer Nicastro, RN, BSN, Chief Nursing Officer. "That connection keeps patients engaged in a monthly dialogue with their own dedicated nurse who helps them manage their chronic conditions through education, gap closure and medication adherence. Our rapid growth is evidence of the huge need for nurse advocates to work with patients in between office visits."
Providers have realized improved outcomes among their patients and grown with Signallamp. Here's what one had to say:
"The Signallamp Health team has supported our efforts for physician and patient engagement. We started with a proof of concept at a few practice locations and have since expanded to all of our primary care clinics," said Alyssa Nardi Mullen, MHA, Director of Quality and Compliance, Temple Physicians Inc.
The annual Inc. 5000 list showcases the American economy's most dynamic segment – its independent small businesses. Companies such as Microsoft, Timberland, Intuit and many other well-known names gained their first national exposure as honorees. As one of the top 500 companies on this year's Inc. 5000 list, Signallamp is featured in the September issue of Inc. magazine, and joins the Inc. 5000 listing at www.inc.com/inc5000.
Members of the 2020 Inc. 5000 achieved a three-year average growth of over 500%, and a median rate of 165%. Members' aggregate revenue was $209 billion in 2019, accounting for more than 1 million jobs over the past three years.
"The companies on this year's Inc. 5000 come from nearly every realm of business," said Inc. Editor-in-Chief Scott Omelianuk. "From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism."
"You can expect a lot more growth in Signallamp's future," said Andrew Goldberg, Signallamp co-founder and CFO. "We have pioneered a remote care model where nurses are immersed in each provider's daily workflow. Patients want to be connected to their chosen providers and have responded to our high-touch approach by driving engagement rates to unprecedented levels. COVID-19 has accelerated expansion opportunities for that recurring engagement, which is valuable to insurers, population health software vendors and remote patient monitoring (RPM) tools alike."
About Signallamp Health
Signallamp is a platform for integrated clinical services where a distributed workforce of nurses utilize a proprietary system to serve as an extension of primary care physicians. For patients, Signallamp brings individualized care between doctor visits to address chronic disease, behavioral health and Social Determinants of Health. For health care organizations, Signallamp expands capacity, improves quality, and generates net new revenue. Signallamp serves patients across 10 health systems and dozens of physician practices in 11 states. Learn more at www.signallamphealth.com.
