Overcoming obstacles Featured

8:00pm EDT June 25, 2010
Finalist
Health Science

Jason Beans’ passion comes from his personal experience. After seeing how an inappropriate nose surgery nearly caused his family to go bankrupt, it ignited a fire in him to protect the financial health of health care.

At age 29, he set off to do that and launched Rising Medical Solutions Inc. in 1999 as a two-person team in an 80-square-foot space. From the beginning, he, like many young entrepreneurs, had his share of struggles — he financed the business by maxing out credit cards, liquidating assets and sleeping in his car. The very day that he and his partner moved out of their small space and into a more suitable office, they found out that their primary client went bankrupt, which shattered the company’s revenue base. Banks and investors wanted him to change his business model so they could have the kind of quick return rates they had been accustomed to during the dot-com boom, but he didn’t want to change his business model, so he continued to self-fund the business. And unlike many entrepreneurs, he didn’t go where the money was easy, but instead, he built his business in a conservative industry that was in desperate need of fixing because he saw the problems plaguing the field.

But Beans overcame those struggles and has led the company to success despite the obstacles he faced early on. He now has a nearly 200-person force across 14 states, and the company is headquartered in a 30,000-square-foot space and is one of the fastest-growing private enterprises in America by Inc. magazine and the Private Company Index. He has also since decreased the U.S. health care cost structure by hundreds of millions of dollars through detecting fraud, inappropriate charges and duplicate billings. Beyond all of that, though, he has focused on top customer service and has earned a 98 percent client retention rate.

How to reach: Rising Medical Solutions Inc., (312) 559-8445 or www.risingms.com