For MedShift, a Charlotte-based medical technology company, this year, while unique in its circumstances, continued the company’s strong growth trajectory. Despite the setbacks presented by Covid-19, MedShift’s business model proved to naturally oppose downward market trends to provide valuable services to fit customers’ needs. Just five years since its founding, this year MedShift has gained recognition on the 2020 Inc. 5000 list, placing at 185, and 18 on Charlotte Business Journal’s Fast 50 List. Throughout the year MedShift grew marketing, accounting, and engineering teams and increased headcount by 70%.
“This year looked different than what we expected, but I am very proud of our team for how they performed, despite having to adapt to different working circumstances and unique customer needs. I believe our ability to deliver and grow through this unprecedented national shutdown underpins directly the value our company brings to our customers” said MedShift’s CEO, Brian Phillips.
Despite practices facing multi-month closures, MedShift’s device consumable volume increased by 282% over the prior year and the company placed more devices with doctors in 2020 than in any year in company history. MedShift also increased its available device portfolio by nearly 200%, expanding device options for its consumers. “Delivering more devices than in any prior year, evaluating and adding over 15 new device options to our portfolio, and having our practices increase procedure volumes in such substantial ways was a significant accomplishment. At MedShift, we are continually trying to find methods to further serve our customers, and have learned from the unique situations presented by the year and how best we can continue to serve them in 2021,” said Porter Tiller, Managing Partner.
MedShift Connect, MedShift’s in-house marketing agency, saw a 247% revenue increase from 2019 and grew its team by 50%. The agency took on exciting new clients and completed two successful influencer campaigns: The Dimple Truth Campaign produced 127,426 social impressions, 72,808 search impressions, and 2,003 link clicks to promote cellulite awareness; and Wear Healthy, a brand awareness campaign that grew Lumiton’s social followers by 47% and increased their sales by 1,000%.
The agency continues to see growth, utilizing its comprehensive service offerings to maintain a global presence. MedShift’s Vice President of Communications and Marketing, Victoria Olszowy said, “A year like this could easily derail a young agency, and I am proud to say that our team was able to stay focused, work hard, and continue to grow. We ran two successful influencer campaigns, expanded our client list, and were able to find solutions for our medical provider’s unique marketing needs. I am very proud of what we were able to accomplish and believe that next year will be even greater.”
The MedShift Engineering team released B2B eCommerce with integrated payment facilitation, the third iteration of their groundbreaking IoT technology, and fulfillment services. IoT V3 connects medical devices in 165 countries via a private encrypted cellular network to facilitate data reporting in real-time to improve the quality of devices and treatments for practices and manufacturers alike. The technology received recognition and acceptance by the FDA in the second quarter of 2020. The team has also been working hard on a new, innovative project, unlike anything in the market, set to be announced in the first quarter of 2021.
Although 2020 was filled with unexpected obstacles, MedShift delivered on outstanding growth coupled with excellent customer service. The stage is set for 2021 as the medical aesthetics industry and MedShift in particular continue to be uniquely resilient to major market downturns.
As for 2021, the company has high expectations for revenue growth, client expansion, and overall product development. From enhancing its internal marketing efforts to launching new technology and products, MedShift has many opportunities available that will aid in meeting and exceeding set goals for the 2021 year.
MedShift, founded in 2015 in Charlotte, NC, delivers a platform as a service to both medical device manufacturers as well as individual medical practices. Foundationally, MedShift enables access to the latest devices and technology to remain competitive and attract new business. MedShift has partnered with over 400 doctors in North America, Australia, and New Zealand to give practices the latest in cutting-edge treatment modalities, services, and systems.
MedShift is disrupting the traditional aesthetic device market by offering permanent placement, holistic subscription services for surgeons, physicians, and their business. MedShift’s broad portfolio of services for practices includes a portfolio of 29 leading aesthetic medical devices from nine manufacturers, an aesthetic eCommerce and subscription platform, in-house communications and marketing services, and inbound lead generation. For manufacturers, MedShift delivers a highly secure IoT platform consisting of both hardware and software assets allowing for real-time visibility, remote management, and big data modeling of entire medical device lineups. MedShift adds value across the manufacturer and provider spectrum and continues to empower robust integration with the leading brands and doctors in the industry.
Additionally, in its first year of eligibility, MedShift ranked 185 on the 2020 Inc. 5000 list, leading as the 15th fastest growing health company in the United States.
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