ScripNet, a nationwide pharmacy benefit manager (PBM) who contracts with workers’ compensation insurance carriers and pharmacies, announced that Inc. Magazine ranked ScripNet #3,365 on the Inc. 5000 ranking of the nation’s fastest-growing private companies. The list represents a comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. ScripNet ranked 32nd in the Insurance category and highest among pharmacy benefit management (PBM) service providers.
ScripNet has been ranked on the Inc. 5000 for the last 5 years and between 2002 and 2004 was ranked three times in the Inc. 500, including No. 22 in 2004.
In a stagnant economic environment, median growth rate of 2011 Inc. 500|5000 companies remains an impressive 94 percent. The companies on this year’s list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
“We are very proud of the growth that we have achieved over the last 10 years,” said Dennis Sponer, President and CEO of ScripNet. “It is attributable to a sound business concept, a strong value proposition and supportive relationship with our customers, the use of information technology to achieve business process efficiencies, and of course the hard work of our employees.”
ScripNet was also awarded ‘Best Places to Work in Insurance’ in 2010 by Business Insurance Magazine, the second year in a row that ScripNet received that recognition.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
ScripNet (scripnet.com) is one of the fastest growing pharmacy benefit management (PBM) companies in North America, providing PBM services to over 3,000, 000 employees through pharmacies in all 50 states. ScripNet electronically processes prescription drug claims for workers' compensation, which allows insurance carriers, large self-insured companies, municipalities, managed-care organizations, and third-party administrators to participate in better cost control and increased efficiency for pharmacists, and offers more convenience for injured workers. ScripNet offers a drug utilization review program that improves patient care, reduces fraud and abuse, and cuts administrative expense. ScripNet is a three time winner of Inc. Magazine’s annual listing of the 500 fastest growing privately held companies in the nation.