The U.S. Small Business Administration (SBA) reclassified Healthcare Management Solutions, LLC (HMS) as a small business for 2022. The change occurred when the SBA modified its revenue-based small business size standards in 16 North American Industrial Classification System (NAICS) sectors.
One of those NAICS sectors happened to be the one that includes HMS’ primary NAICS code 541611. The SBA modified its revenue-based size standard for NAICS 541611, increasing from its 2019 level of $16.5 million to $21.5 million for 2022.
“The SBA’s change helps our customers and partners reach their small business contracting and subcontracting goals, since the federal government continues to increase those goals annually,” explained Leah Heimbach, President of HMS. “The change also helps us compete against large businesses.”
Heimbach added that small businesses like HMS are beneficial both to government agencies directly and to prime contractors. Small businesses bring creative solutions to problems, have more flexibility, and tend to establish more personal connections with customers. They also deliver a high level of care, and provide exemplary work through caring, uniquely qualified, and motivated employees, which is especially important in healthcare and long-term care — and is a hallmark of HMS’ approach to business.
In announcing its changes, the SBA said that its new small business size standards would increase eligibility for its federal contracting and loan programs, and expand access to SBA programs for 59,000 small businesses.
“SBA continues to evolve its approach on size standards to ensure that we create access to contracting and loan opportunities for as many small businesses as possible,” said Associate Administrator for Government Contracting and Business Development Bibi Hidalgo about the announcement.