2009 Dynamic Dozen, No. 10: Healthcarefirst Inc.

Bobby Robertson anticipates growth through acquisition for Healthcarefirst Inc., a strategy made possible by an infusion of capital through global private equity firm The Riverside Co.

In August, health care software provider Healthcarefirst sold majority ownership to The Riverside Co., which specializes in small- and medium-size businesses. The company remains in Ozark, and Robertson retains some ownership, though he declined to disclose that percentage or the sale price.

"I would be very surprised if we (have) not completed two acquisitions this time next year, so our growth will be much more rapid than in years' past because acquisition had not been part of our strategy," said Robertson, Healthcarefirst president and CEO.

The company reported 2008 revenues of $5.66 million, up from $4.73 million in 2007.

Healthcarefirst's core focus is Web-based software aimed at small and medium hospice and home health companies. Working with 300 companies in 40 states, Healthcarefirst maintains the servers, acting as an information technology department, and clients simply access their information online.

Healthcarefirst also has complementary services, such as billing, coding and benchmarking - convenient add-ons for clients because of Healthcarefirst's access to data via its servers.

If a coding clerk abruptly leaves a company, for instance, Healthcarefirst can step in immediately and perform that task for as briefly or as long as a client needs.

"We're the perfect solution," Robertson said. "They can come in and pay a monthly fee (and) can leave at any time."

By offering "software as a service," Healthcarefirst is attracting new clients, Robertson said.

"We're finding that the ease of entry into this product and the ease of functionality is creating an up-market," he added.

That ease is one of the features that drew Vickie Harbison, director of accounts receivable for Shawnee, Okla.-based Preferred Management Corp.

"I'm not investing a lot in (the company's) software because I'm not having to buy it, and if I don't like it, I can pull it in 30 days," said Harbison, whose company uses Healthcarefirst services in hospice and home health care.

Harbison also appreciates the accessibility of management and Robertson's willingness to get personally involved.

"It's real unusual to find the owner or co-owner of a company as accessible as they are (and) they are very receptive to listening to how we think they can enhance their software," Harbison said.

Healthcarefirst began in Texas when two certified public accountants, Ron Stringer and John Singer, started a simple billing system to track information required for Medicare cost reports.

When Stringer left the business, Bobby Robertson and his father, Bob, bought him out. Singer became a silent partner.

As Healthcarefirst grew, it discovered two programmers in Springfield who were beta testing a new Microsoft technology. Healthcarefirst set up an office here, and it soon became clear that the company needed to move its headquarters to the Ozarks, Bobby Robertson said. Healthcarefirst moved to Springfield in 2005 and then to Ozark in 2006.

"I didn't plan on being in Missouri. It just happened. But it's been a good move. Missouri is home now," said Robertson, a Texas native.

Silent partner Singer's decision to leave the business dovetailed well with Healthcarefirst's desire for more capital and the eventual deal with The Riverside Co., Robertson said. Bob Robertson is now retired.

"I've still got a substantial interest," Bobby Robertson said.

"It's just that this deal created substantial capital for growth and at the same time provided an exit for my partner in Texas," he added.[[In-content Ad]]