Scott Law started Zotec Solutions in 1998 after losing his job at Anthem Inc.’s medical billing subsidiary, Allmed Financial. Anthem pulled the plug on that division, leaving many employees like Law out of work. But this was only a temporary setback. He recognized an unlikely opportunity, and decided to take this chance to start his own company.
Ten years later, Law has navigated Zotec from a small one-person shop to the largest privately held medical billing company in the country. In 2007 alone, Zotec added nearly 500 employees and had a revenue growth rate more than 221%.
Q.1 Cristian: Scott, welcome to Entrepreneurship-interviews.com! For starters, tell us a few words about yourself and Zotec Partners, the largest privately held medical billing company in U.S.
Scott: Thanks for the exciting opportunity to share my story with your readers! I formed Zotec Solutions back in May of 1998, so the company just celebrated its 10 year anniversary. Prior to being Zotec, we were a wholly owned subsidiary of Anthem, named Allmed Financial, Inc. Allmed grew by acquisitions to be the third largest medical billing company in the nation. I was the CFO/CIO responsible for migrating all of the seventeen acquired practice management systems into one internally developed practice management solution. I spent three years working with Andersen Consulting to develop the Electronic Billing Center (“EBC”) software.