Inc. revealed that VPL ranks No. 3,982 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America.
NEW YORK, NEW YORK, USA, August 21, 2023/EINPresswire.com/ — Inc. revealed that VPL ranks No. 3,982 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
“We’re thrilled to once again be named to the Inc. 5000 list of the fastest-growing private companies in America,” said Eric McGlade, Co-founder and CEO of VPL. “Being on the list for 7 consecutive years is a testament to the dedication and hard work of all VPL associates, along with the trust and support of our great customers.”
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
Over the past year, VPL has marked many notable achievements, including receiving the System and Organization Controls (SOC) 2 Type 2 certification. Additionally, VPL has saved $5M for clients over the past 12 months based on a 30% average reduction in shipping costs. VPL identified $1.4M in supplier fees that could be saved. With transparency into supplier fees, actionable insights turn into cost savings with features only available through the VPL platform.
VPL brought on more new customers in 2022 than any year prior and is on track to beat that record in 2023. Named new customers added in the health system and specialty pharmacy spaces in the fourth quarter alone include RWJBarnabas Health, Self Regional Healthcare, Berkshire Medical Center, Hometown Pharmacy, and Richie’s Pharmacy.
VPL delivers visibility and resiliency to clinical supply chains. By making the procurement-through-fulfillment processes smarter and more profitable, it creates a new supplier dynamic whereby customers benefit from reduced costs, better insights, and increased transparency and efficiency. VPL developed the industry’s only Smart Supply Chain Platform, which automates inbound and outbound shipping, unlocks visibility into the status of critical shipments, and identifies cost-saving opportunities for all of healthcare including IDNs, critical access, outpatient, and pharmacy. With more than 700 hospitals, 6,000 plus suppliers, and a 97 percent customer retention rate, it’s clear that VPL is the company the healthcare industry trusts to deliver savings, insights, and peace of mind. For more information, visit www.getvpl.com.
The Inc. 5000 Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.