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Like many other sectors, healthcare is about to enter a period of rapid change. Longevity and the advance of new technologies and discoveries as well as innovative combinations of existing ones are among the many factors propelling patient empowerment, which is fundamentally changing how we prevent, diagnose, and cure diseases. A shift toward value-based care, an increase in digitalization, improvement ambulatory care, and the growth of consumerism are some of the factors contributing to the growth of healthcare consulting services. Following this trend, the market evolution forecast that the global healthcare consulting services market size is projected to reach $41.4 billion dollar by 2026 at a CAGR of 11.5 percent during the forecast period.
Among the trends that are driving the healthcare consulting industry the shift to value-based care is the most notable. Healthcare systems increasingly move toward value-based healthcare (VBHC), aiming to further improve the quality and performance of care as well as the equitable, sustainable, and transparent use of resources. At present, there is no global consensus on what constitutes VBHC. However, one of the hallmarks of most VBHC programs is the multifaceted approach, which, in addition to clinical outcomes, emphasizes patient-reported quality and performance measures.
To put the spotlight on the key developments, Healthcare Business Review illustrates how companies are leveraging the latest developments in the healthcare industry to give value-based solutions to their customers. This edition also features leadership articles from Jonathan G. Wiik MHA MBA CHFP, VP Health Insights, at FinThrive who discusses revenue management in the healthcare system to overcome challenges.
In this edition of Healthcare Business Review, we also bring the stories of the most successful companies in the healthcare consulting domain. In the list, Ascom particularly stands out for providing global solutions focused on healthcare ICT and mobile workflow solutions. Equally commendable is McCormack Consultants for its deeper understanding and knowledge of products and vendors enabling it to guide clients forward and quickly gain consensus amongst solution providers, implementation teams, and end users. We also bring you stories of Agatha Consulting, CURIS Consulting, Germane Solutions, imallc, Impactivo Consulting, KRK Value Based Consulting, and Survival Strategies who uniquely position themselves in the healthcare consulting space.
Through the following pages, we aim to highlight the innovative trends and latest developments in the healthcare consulting industry. We would like to know your thoughts.
Ascom is a global provider of information and communication technology and mobile workflow solutions. It provides clinical workflow consultation services, software solutions, and mobile devices to close digital information gaps allowing for the best possible, informed decision in time-sensitive environments outside, including med-surg floors
Ascom
Management
Robert Wittwer, Senior Vice President, Professional Services and Michael August, Head of Healthcare Strategic Business and Alliances
McCormack Consultants offers a complete range of healthcare consulting solutions, from technology procurement to its implementation, including project management and integration services. Its extensive knowledge of healthcare industry systems, applications, and tools helps health insurance companies achieve significant time and resource savings in implementing medical management and population health systems.
Michael J. Allen, President and Principal ConsultantThe sweet spot between business and technology is where our unique skill set lies. We engage with a client’s business personnel and understand their processes and requirements while exploring the available technology options and creating customized solutions that optimize productivity
McCormack Consultants
Management
Michael J. Allen, President and Principal Consultant
Agatha Consulting is functioning as a boutique healthcare consulting firm, which specializes in the revenue cycle, process design, and improvement and patient service excellence. The company supports clients from startups to Fortune 500 to enhance their ROI by delivering streamlined revenue cycle management services.
Agatha Consulting
Management
Heather Niemi, Principal; Lynn Argento, Strategy and Program Consultant
Curis Consulting offers innovative solutions to healthcare organizations, particularly community health centers, through consulting services, training, and interim executive positions. Their systematic, evidence-based approach is tailored to the client's goals and focuses on enhancing quality, processes, and performance. They are committed to building long-term relationships with clients and improving the healthcare industry
Curis Consulting
Management
Jen Calohan, Co-founder/Owner/ Principal Consultant,Shannon Nielson, Co-founder/Owner/ Principal Consultant
Germane Solutions, a trusted and predominant GME advisor, specializes in five service lines—strategy, finance, operations, accreditation, and community and population health. The consulting firm provides tailored and targeted GME solutions that create profitable and sustainable physician pipelines.
Susan M. Hearn-Stiffler, CEOOur sole focus on GME and academic medicine makes a world of difference in the U.S. healthcare consulting, sharply increasing the volume of physicians and improving patient access to care
Impactivo Consulting is a healthcare consulting firm dedicated to supporting health leaders in building profitable, sustainable, and high-quality patient-centric healthcare systems that drive lasting positive social impact. It offers data-based integrated solutions for strategic planning, financial sustainability, and programs management that help leaders make strategic business decisions for improved organizational outcomes.
Integrity Management Advisors, LLC., brings a simple and effective way of enhancing fiscal impact to hospitals and medical facilities through its cornerstone solution–the Bridge Plan. It empowers key stakeholders to drive change throughout the organization in a coordinated process.
Integrity Management Advisors, LLC.
Management
Lawrence E. McManus, CPA, Managing Director
Offers reliable and comprehensive compliance support to medical practices and groups of all sizes in relieving the administrative burdens that come with staying up to date on these constantly changing programs. Its portfolio includes comprehensive MIPS consulting, compliance training, and security risk analysis services proven to deliver impactful outcomes.
Roslynn Lowery, PartnerWe go through the 3000-page MIPS rules list and show clients the bigger picture of potential obstacles before executing the operational changes that can earn them a positive adjustment in their Medicare reimbursement
Smart Business Solutions provides consulting, billing, and agency sales to home health and hospice agencies. Its services include full administrative compliance, notifying the various governing authorities of changes, chart reviews, and surveys. SBS is a full-service consulting company for the Home Health and Hospice industry.
Smart Business Solutions
Management
Larry Treystman and Mariam Treystman, Co-Founders at Smart Business Solutions.
Survival Strategies is a healthcare consulting company that assists clients in maintaining and expanding private practices by streamlining effective management and public and business marketing skill development for the owners and the practitioners. The company aims to transform the owners into CEOs by enhancing their knowledge and applicable skills
Survival Strategies
Management
Nancy Mura, President; Craig Ferreira Founder and CEO
Agile Health Technologies provides specialized solutions to assist in the improvement of healthcare business practices. The company offers product and business consulting services to the healthcare payor, provider, and pharmaceutical industries
Alacrita Consulting is a market-leading Pharma & Biotech Consulting firm that provides the full range of specialist expertise required to develop and commercialize pharmaceutical products. Alacrita has over a decade of multi-disciplinary global experience in a variety of therapeutic areas and technologies
Avalere is a healthcare consulting firm dedicated to improving healthcare. The business collaborates with top health plans, providers, and investors to offer data-driven solutions to the most difficult healthcare problems.
CHCM offers a continuum of solutions to cultivate a culture of empathy, compassion, and trust in individuals, teams, and patients and families' lives. CHCM's expertise includes sustainable cultural change methods, leadership development, engagement of staff and providers to deliver exceptional patient and collegial relationships, and the advancement of an overall culture of quality, excellence, and well-being
Equum Medical is an acute care telehealth company, enabling access to specialty care across a variety of clinical settings. Equum understands the urgent need for acute care telehealth and the difficult challenges hospitals face in filling gaps in coverage, improving the lifestyle of their on-site clinicians, extending patient care in specialty areas, and improving departmental leadership
Guidry & East is a full-service transplant consulting firm specializing in the clinical, operational, and financial assessments of the transplant and donation communities. Guidry's Transplant Consultants have assisted medical centers in developing transplant business solutions specifically designed to grow transplant programs, improve transplant operations, and access the transplant financial product line
medSR is a healthcare strategy and IT consulting company led by an executive team of healthcare professionals with decades of experience and knowledge from all sectors of the healthcare industry. The firm brings integrity, quality, and dependability when delivering outstanding services and value to academic institutions, community hospitals, and medical practices within health systems. Their services and solutions are evolving and adapting to fit the ever-changing landscape of the healthcare industry
Profero Team, LLC, is an innovative clinical pharmacy consulting company. The Profero Team helps employers, brokers, consultants, hospitals, and hospices reduce medication costs while improving the quality of care. The firm also assists physician practices in implementing and managing a collaborative pharmacist practice mode
ProspHire is a national management consulting firm focused on healthcare advisory, project delivery, and strategic resourcing. ProspHire is a woman-owned and rapidly growing Pittsburgh-based firm with nearly 100 practitioners and consultants who deliver exceptional service to each of their clients across the U.S. The firm partners with clients to identify and solve their most significant people, process, and technology challenges
Sirona Strategies is a pro-active, strategic health care consulting company that consistently delivers results for clients seeking to succeed and grow in an evolving health care industry. The company offers clients nearly two decades of experience in health care decision making at the state and federal levels