It’s so easy to get bogged down in the day-to-day trenches and forget that smart, dedicated people can do incredible work over long time spans. I just finished the two hour marathon all-hands company meeting which wraps up 2011 and communicates plans for 2012. In doing so, I had the same reaction I have every year: Holy cow we got a lot done!
Here are some of the highlights:
- Revenue: For the sixth year in a row, we had record revenue growth, which should easily qualify us for the Inc. 5000 list for the sixth time. To me, as a business owner, this validates that we are building products and delivering services that our clients love and want to buy more of.
- New clients: We added 11 new clients, renewed contracts with 15 clients and added major new initiatives with several more. We started the year with about 30 clients representing about 200 hospitals and ended it with about 40 clients representing 500 hospitals.
- Client retention: Probably most important, we’ve done an exceptional job in building strong relationships with our clients across the country: We lost zero clients to competitors and we took two from significant competitors. Over more than 10 years of working in healthcare, we’ve retained more than 93% of clients over that entire time. We have competitors who try not to lose too many in a single quarter!
- Net income: 2011 was the second most profitable year we’ve ever had. As a privately-owned business, ensuring that we’re making money while we grow at a breakneck speed is obviously critical. But it also gives our clients and prospects the confidence in our ability to thrive over the long haul.
- Team growth: We hired 23 people in 2011 – and we’ve built what is now pretty easily the best team in our industry. Our Professional Services team added most of these team members including new leaders Bill Basler, formerly of Basler Design Group, and Keri Buscaglia, formerly of Frank N. Magid Associates. Both have already begun major changes to our creative and interactive marketing processes. I’m excited to give them their official debut at our 2012 eHealth Symposium in April.
- Software Engineering: This team made a major leap into fully automated testing in late 2011 with the intention of dramatically increasing the speed of software delivery and improving the quality of VitalSite. The engineering and QA teams did an exceptional job of, well, changing their entire software development process. The first release to demonstrate the new capabilities will be the 6.3 release in April.
- Turnover rate: Geonetric is a fast growing company and it attracts a certain type of team member: people who are wicked smart, fast on their feet and like to do amazing work. Turnover rate is a big measure of how well we retain those brilliant folks. For 2011, our goal was to keep turnover 10% or less – and we ended 2011 with only 7% turnover. We’re proud of the exceptional team of experts that we’ve built and go to great lengths to build an awesome team culture and environment.
- eHealth Symposium: Our clients-only 2011 eHealth Symposium was easily our largest ever, with a dozen or so sessions covering a wide array of topics. Almost every client attended. Our survey indicated 93% of sessions were “Valuable” or “Very Valuable” – a testament to the hard work of the Geonetric team in putting together an educational and enlightening experience.
- Webinars: As we’ve done for many years, our freely available educational webinars were held each month, covering a number of eHealth topics. 2011 saw record attendance levels and featured many of Geonetric’s thought leaders and our clients demonstrating the amazing work we’ve done together.
- Mobile sites and applications: We built our first iOS and Android applications in 2011 with many more planned to exploit the value of our VitalSite software and services teams. Almost every Geonetric client had (and has had for some time) a fully featured mobile website. Going into 2012, we have lots of new ideas to build in the mobile products we’re offering.
- VitalSite 6: In April 2011 we released VitalSite 6.0 – easily the largest advance we’ve made in a single software release – with an entirely new user interface, faster performance and hundreds of improvements. VitalSite leads the way in the industry in providing rapid value to our clients and keeping them at the forefront of eHealth.
- VitalSite features: We delivered 160 new features or major new improvements covering 18 areas of VitalSite’s Web and patient portal functionality. This included our patient portal qualifying for Stage 1 of Meaningful Use, major enhancements to the calendar of events with new “shopping cart” capabilities and cross-promotion tools, faster ways to build secure extranets, and hundreds more. And we’re on track to deliver about 50 new major features or improvements in the April 2012 release!
- Client satisfaction: We survey clients about once a quarter on the strength of their relationship with Geonetric and the value we’re providing for them. The survey is done on a 1-6 scale, with 6 being highest. The overall score is the most important. Our goal is to average 5.0 across all clients, which is a tough goal to meet since perfect 6’s are hard to get! For the entirety of 2011, we scored 4.97 – really close to our goal, but not quite what we wanted. In my calls and visits with clients I get an overwhelmingly positive feedback. I’ve picked out a few of my favorites:
- “Our project manager does a fantastic job keeping track of projects and moving them forward. She is always available to assist with questions and issues. I feel very lucky to have her as our project manager!”
- “Great job all around. You all just keep getting better every day!”
- “Now that we’ve been a client for more than a year, I can say with certainty that I’m very happy we selected Geonetric as our Web partner! It’s been a great experience working with you to design, build and launch a new site.”
That’s not to say there’s nothing for us to work on – certainly there is! Some service processes were slow in the middle of 2011 as we ramped up and got teams organized. Some features we’ve been wanting to build for a while weren’t released in 2011 (but many are in the April 2012 release!). Some clients expressed concerns about the speed of change around here since we make decisions quickly and move on them just as fast.
All are valid concerns. That’s why we do the surveys and call or visit every single client every single year. We want to make sure we’re listening to our clients and can respond proactively to what matters to them. As we move into 2012, our clients are top of mind as we look forward and “get better every day!”
In short, I’m so very proud of the team of experts at Geonetric doing amazing work with incredible clients every day. We’re poised to do some amazing things in 2012 and I’m excited to see it all continue to grow and “Wow!” our clients!