LOS ANGELES, Aug. 25 Inc. magazine today ranked The CodingSource No. 96 on its 27th annual Inc. 500 list of the fastest-growing privatecompanies in the U.S. The list is the most comprehensive look at the mostimportant segment of the economy -- America's independent-mindedentrepreneurs.
The Coding Source was recognized for an astounding three-year sales growthrate of 1,965%, culminating in annual revenues last year of $18.5 million. Inaddition to its overall ranking in the top 100 for growth, The Coding Sourceranked third among fastest-growing companies in the "Health" industry.
The Coding Source was founded in 2002 by Los Angeles native Greg Sinaiko,in response to the critical shortage and urgent need in the healthcaremarketplace for qualified, certified medical coders. His vision quickly foundsuccess and the company now offers outsourced medical coding services,training of professional coders, Certified Professional Coder (CPC)educational programs, and chart review and physician education for healthplans related to Medicare Risk Adjustment. Last fall, the company rankedsecond on the Los Angeles Business Journal's list of Fastest Growing PrivateCompanies in Los Angeles and Sinaiko was recently selected as a finalist forthe 2008 Ernst & Young Entrepreneur of the Year award in Los Angeles.
"If you want to find out which companies are going to change the world,look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the mostinnovative, dynamic, fast-growing companies in the nation -- the ones comingup with solutions to some of our knottiest problems, creating systems that letus conduct business faster and easier, and manufacturing products we soondiscover we can't live without. The Inc. 500 list is Inc. magazine's tributeto American business ingenuity and ambition."
The 2008 Inc. 500, as revealed in the September issue of Inc. magazine (onnewsstands August 26 - September 30), reported aggregate revenue of $13.7billion and median three-year growth of 1,046%. Total sales for Inc. 500companies were 14 percent below last year's combined revenue of $16 billion;still, it was a stellar year for many companies. Not only did sales for thisyear's top 50 growers outstrip those of last year's top 50 by $541 million,but this year's fastest 50 also boasted a staggering 47 percent jump inaverage three-year growth from last year's top of the class. Additionally, the2008 Inc. 500 companies were engines of job growth, having created more than51,414 jobs since those companies were founded.
Complete information on this year's Inc. 500, including company profilesand a list of the fastest-growing private companies that can be sorted byindustry and region can be found at http://www.inc5000.com.
"It's a tremendous honor to be recognized alongside such elite company bythis prestigious magazine and I consider this ranking to be a real tribute tothe hard work of our employees and loyalty of our customers," said Sinaiko."I believe we had a solid business plan in place that allowed us to takeadvantage of a unique opportunity in the healthcare marketplace, but the factis that we could not have achieved this rapid growth without the hard work ofour staff, our coders, and other members of the management team."
The 2008 Inc. 500/5000 list measures revenue growth from 2004 through2007. To qualify, companies must be U.S.-based and privately held, independent-- not subsidiaries or divisions of other companies -- as of December 31,2007, and have had at least $200,000 in revenue in 2004, and $2 million in2007.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc.magazine (http://www.inc.com) is the only major business magazine dedicatedexclusively to owners and managers of growing private companies that deliversreal solutions for today's innovative company builders.