The 2016 Seven Small Jewels: FluidEdge Consulting

FluidEdge_MikeGreen FluidEdgeScottShohen FluidEdgeShawnArchambault

Since launching in 2007, Malvern Pa.-based FluidEdge has been on an upward trajectory. Steady, organic growth has been the hallmark of the firm, which was founded with the primary focus of providing Management and IT consulting exclusively to the Health Care industry.

“Our growth has been consistent and very aggressive,” says Shawn Archambault, Founder and President of FluidEdge. “One of the big differentiators for us is that the people we bring to the table have lived what our clients are living. We bring ex-CIOs, ex-COOs, ex-VPs of operations—people who have had to implement systems, people who have had to redesign organizations. That’s been hugely beneficial for us.”

And it’s led to some outstanding years of revenue growth. With a 205 percent growth rate over three years, FluidEdge was recently ranked No. 12 on Consulting‘s inaugural Fastest Growing Firms list. In 2015, the firm logged a 54 percent growth rate and is forecasting a more modest 28 percent growth rate this year.

“If we look ahead three years, we’re probably looking at being a $60 to $70 million firm with around 300 people,” Archambault says. “We want to continue to grow aggressively, but we have to make sure we don’t outgrow our ability to deliver the quality of work that clients have come to expect.”

And what they’ve come to expect, says Scott Shohen, leader of the firm’s Life Sciences practice, is a firm that delivers. “With us, it’s what you see is that you get,” Shohen says. “A lot of the bigger firms will come in to the meeting with a partner and then the partner is there two hours a week and the firm brings in a bunch of junior-level people to do the work. Not here; we don’t back-fill with junior people. The senior people we have in the meetings will be there and will be working on the project. That’s unique.”

As a result, FluidEdge is developing a reputation as a firm that delivers. As such, some 95 percent of its business comes via referrals. “And once we get a client, we keep that client,” Green says. The expectation, he says, is that that will continue. Clients continue to have many challenges in the healthcare space. And across the board FluidEdge’s projects are getting larger.

“When you look at the marketplace, there’s going to be a lot of consolidation over the next three to five years,” Green says. “There’s a lot of work that needs to be done as these mergers and acquisitions take place.”

In addition, there’s a lot of pent-up demand in the regulatory and compliance space in healthcare.

“The greatest need in all of these organizations is data. Data sits right at the center of everything. The ones that are able to get good data, and be able to understand it, will be the ones that come out ahead,” Green says. “At the core of all this is how clients get the information they need to make good decisions and operate more efficiently and effectively.”

FluidEdge is no stranger to accolades. In 2013, Inc. Magazine ranked FluidEdge No. 775 on its Inc. 5000 list and No. 60 on their list of the Top 100 Health Companies in the nation. The firm was also ranked No. 13 among the Top 100 Pennsylvania Companies and No. 16 in Philadelphia.

 

Headquarters: Malvern, Pa.

Additional Offices: N.A.

Service Lines: Strategy, Operations Management, Information Technology,

Client Industries: Healthcare, Life Sciences

Billable Consultants
2014: 80
2015: 115
2016: 150 (projected)

Revenue (in millions)
2014: $16.6
2015: $26
2016: $33 (projected)

 

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