Inc. magazine today revealed that OrthoFi was named No. 1204 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
This is the third consecutive year OrthoFi has earned a ranking on the Inc. 5000, an achievement that puts OrthoFi into an elite group of companies to appear on the list for a third time. Of the tens of thousands of companies that have applied to the Inc. 5000 over the years, only a fraction have made the list more than once, let alone three years in a row.
“We’re honored and extremely proud to be included on this list of incredibly innovative and successful companies for a third consecutive year,” said Dave Ternan, Chief Executive Officer of OrthoFi. “It truly is a testament to the hard work, dedication and passion our team brings every day to be the best possible partner for our clients.”
Founded in 2013, OrthoFi has partnered with more than 550 orthodontic practices across the country, delivering an end-to-end platform that enables orthodontists to start more patients and run their businesses more effectively by leveraging best-in-class revenue cycle management services and industry-leading data. To date, OrthoFi has helped their clients provide more than half a million patients with high-quality, affordable orthodontic treatment.
“This recognition is especially meaningful for us this year, as our clients have faced unprecedented challenges running their businesses during a global pandemic that prevented orthodontists from seeing patients for much of the early part of the year,” said Ternan. “Now more than ever, our clients are turning to OrthoFi as a critical partner for helping them transform their practices digitally, so that they can start more patients, manage their businesses more efficiently, and continue to achieve significant year-over-year growth. I’m proud of how far we’ve come in 7 years and excited about the continued investments we’re making in innovative technologies to better serve customers as we pursue our goal of starting one million smiles.”
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says 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.”
The Inc. 5000 Methodology
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Complete results of the Inc. 5000 can be found at