Guide

Finding the Best Healthcare Consulting Firm: An Expert Guide

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Introduction

Navigating the healthcare industry’s maze of rising costs, regulatory changes, and often outdated administrative procedures is a remarkably complex job for any healthcare organization, but ultimately their successes and failures fall on the shoulders of those in charge. Healthcare leaders are responsible for the experiences of everyone involved with their organization, from staff to clinicians to patients, and for building strong, collaborative relationships with payers.

Tasked with everything from staff retention to systems security to legal compliance, these leaders are increasingly seeking specialized help from healthcare consulting experts to bridge knowledge gaps and form strategies to guide their facilities to success.

Setting goals and planning for the future is a massive undertaking. Whether growing and changing by choice or necessity, you need a plan customized for your organization’s needs.

Consultants can meet you where you are and bring a highly informed and objective perspective to your situation. You'll need the right combination of advice and recommendations to take advantage of growth opportunities and find the ideal path forward.

Understanding the work that healthcare consultants do and the specific types of help they offer will ensure you make the best choice for your organization’s specific requirements.

Outlook for Healthcare Consulting: Factors Driving Demand

Despite healthcare consulting’s astounding growth, many people don’t really understand how the industry works. There has to be a reason so many leaders are looking to hire a healthcare consultant, but why? The need originates on both sides of the care equation: the patient’s and the organization’s.

Patient Factors That Drive the Need for Healthcare Consulting Groups

Experienced healthcare leaders know that ongoing operational challenges usually require outside help, but trends on the consumer side — including population shifts and care delivery expectations — are also driving an uptick in healthcare consulting partnerships.

Changing Patient Demographics and Requirements

As our populations grow and change, the demands on healthcare continue to increase. Patients have evolving needs that require specific kinds of care and, sometimes, new approaches. This complexity puts stress on healthcare organizations that can be aided by collaborating with healthcare consulting groups.

Some patient factors include:

Life Expectancy

Experts predict that the number of adults aged 60+ who need long-term care will triple by 2050. Furthermore, individuals of advanced age are three times more likely to seek out healthcare than younger people.

Chronic Conditions

Increased lifespan means more elderly people, which in turn means more chronic conditions. The number of individuals aged 50+ with one or more chronic conditions is set to grow a whopping 99.5% by 2050.

Environmental and Lifestyle Diseases

High rates of obesity and diabetes remain a constant problem for healthcare, fueling skyrocketing costs. As many as one-third of adults may develop diabetes by 2050. Air quality and climate change are expected to negatively impact long-term cardiovascular health as well.

Rising Costs

Costly bills are a major healthcare barrier for young people, with about a third of Gen Z patients citing money as a factor for not seeking more comprehensive, timely care. Lack of routine medical care could contribute to later-in-life health issues.

Expectations of Care Delivery

Even before the COVID-19 pandemic, shifting patient expectations about the convenience of care were reshaping the healthcare market. Millennials wary of scheduling annual physicals and in-office visits with primary care providers began favoring the ease of walk-in clinics and urgent care facilities.

As it has done in every other industry, technology has also been changing the game, forcing healthcare facilities to adapt to new consumer-friendly care delivery models by leveraging the technical and strategic expertise of a healthcare consulting company.

These models include:

Telehealth

Use of digital care and medical apps exploded during the pandemic due to social distancing, remote work, and mass exodus from cities. The practicality of apps and expectation of flexible service delivery have since become staples in healthcare.

Remote Patient Monitoring (RPM)

This form of telemedicine involves the use of in-home devices to monitor patient vital signs and a software platform to report data that informs care decisions. Consumers benefit from the convenience and reduced travel time. RPM is especially useful for rural patients and those with mobility concerns.

Noncentralized Care

The increased mobility of younger generations and proliferation of retail walk-in locations have made a centralized family doctor the exception rather than the rule for young patients — a trend that’s likely to continue for Gen Z and Gen Alpha healthcare consumers.

Organizational Factors and Operational Inefficiencies

A business’s internal operations can often benefit from an outsider’s perspective on what isn't working and how to fix it. Healthcare companies may seek help to streamline aspects of their businesses including:

Human Resources

Regardless of the industry, hiring skilled professionals is a daunting task; but in healthcare, the pressure and stakes are significantly higher — responsibilities extend beyond employees to the patients receiving care.

Employee retention is critical: Personnel losses are costly and shift more responsibilities on to those who remain, hindering productivity. HR must also balance many day-to-day responsibilities, including job descriptions, benefits, workflows, and policies that can get lost in the shuffle.

Depending on the segments of care an organization provides, HR departments may further be juggling a variety of governing policies and compliance concerns. From licensing verification to Occupational Safety and Health Administration (OSHA) standards to Centers for Disease Control and Prevention (CDC) guidelines to legal concerns, HR must cover a lot of ground.

Administrative Processes

Despite healthcare’s expansive growth, administering it isn’t easy. Health systems are notorious for silos, whether it’s siloed departments or computing systems. This makes manual tasks a necessary evil that can lead to errors. However, digital transformation is difficult in an industry still heavily reliant on paper hard copies, which not only compromises privacy but makes data management and file storage overly convoluted. Upgrades and digitization are often piecemeal, without comprehensive evaluations of organization-wide needs and priorities.

Streamlining systems is an ongoing project, requiring the cooperation of all stakeholders to reduce duplication of tasks, minimize clinician burden, and keep the focus on the patients’ needs. Central to this effort is upgrading to more advanced technologies, but creating a plan requires expert advice. Beyond determining the correct technologies to adopt, organizations need to prioritize data migration and employee training; having the technology is one thing, but proper handling of sensitive data and making sure staff is adequately trained on best practices are equally as important.

Patient Management

Ultimately, everything that hospitals, health systems, and other entities in the healthcare industry do is in service of the patient. Leaders must ensure that communication between a patient and their care team is open, frequent, and transparent so patient needs are met. Patient-facing apps and interfaces also must perform well; if they’re too slow, difficult to use, or don’t serve a clear and beneficial function, patient satisfaction will wane and loyalty and referrals will suffer.

Smoothing out rough spots in the communications exchange should be a priority for any care provider. It prevents errors, saves time, supports patient compliance with treatment plans, and helps healthcare facilities attain better outcomes.

In addition, your data reports should be providing you the means to analyze whether patient flows are effective and efficient. Accessing and interpreting data needs to be straightforward, and data-driven solutions must be continually implemented and assessed.

Mergers and Acquisitions

Two companies becoming one have double the number of concerns, in every category. Don’t go it alone. A healthcare consulting group that meets your needs as a trusted partner can facilitate the transition.

What Does a Healthcare Consultant Do?

The main goal of any healthcare organization is to provide outstanding care and positive patient experiences. What stands in the way? Often, administrative concerns like poor workflows, ancient legacy technology, and compliance obligations. The solution: partnering with a healthcare consultant.

What Is a Healthcare Consultant?

Healthcare consultants are experts who advise a range of healthcare organizations, including pharmacies, hospitals, insurance companies, and health clinics. A healthcare consultant’s goal is to improve the quality of patient care and services while reducing operating costs and overhead.

These niche professionals are often experts in business and healthcare. They use their knowledge to advise health organizations on how to optimize their workflows and increase efficiency.

Some healthcare consultants are generalists; others specialize in specific aspects of health operations. Depending on the issues that an organization faces, their needs may be met by a generalist or more suited to a niche expert.

How Do Healthcare Consultants Work?

Like their counterparts in business and management, healthcare consultants advise their clients on how to run their organizations smoothly and more efficiently. They start by getting to know the business and identifying where improvements can be made to raise quality of care, maintain or increase revenue, and simplify operations.

The information-gathering process can include:

Compiling data relevant to areas of concern (employee retention, patient satisfaction, etc.)
Interviewing staff and administrators
Examining facilities and observing on-site operations
Reviewing existing documentation related to policies, quality standards, governance, and other regulations
Analyzing the organization’s hierarchy and workflows

After the consultant has completed their holistic assessment, they’ll compile their recommendations to present to the client. These may include ideas about improving HR, automating administrative tasks, setting quality benchmarks and procedural guidelines, or upgrading technologies.

What Kind of Training Do Healthcare Consultants Have?

Most healthcare consultants hold a bachelor's degree in business management, public health care, or nursing. Some pursue complementary master’s degrees in a second area of study. They may also seek additional education or certification in disciplines such as communications, data analysis, and finance.

Some professionals may freelance, while others join health systems or consulting firms.

Professional titles vary depending on the organization or specialization, such as “health systems manager,” “healthcare quality manager,” or “public health consultant.”

Types of Healthcare Consulting: Understand Your Options

There’s no shortage of responsibilities that healthcare leaders must juggle today, from evaluating and purchasing new technology to managing multiple facilities to approving marketing initiatives and more — all while ensuring patients get superb care and providers are fully equipped and supported. No leader can do it all, which is why many turn to healthcare consulting for organizational support.

With many types of healthcare consulting available, it’s critical to assess your organization’s particular needs to determine which healthcare consulting companies will be a good fit.

Here are seven common specialties to consider:

1 Strategic Consulting

A healthcare business is, well, a business. Like any other, it has a mission, vision, and organizational goals. Strategic healthcare consultants provide insights that align with these key tenets and enable growth.

These consultants investigate problems that have occurred in the past and build roadmaps to course-correct and successfully execute in pursuit of business goals. They equip leaders with the tools and resources they need to realize their objectives.

2 IT Consulting

Without technology, the modern healthcare environment would look completely different and highly inefficient — particularly when reviewing the impact of advances from electronic health records (EHRs) and telehealth (which accounted for around 30% of all care visits in the second half of 2020) to more advanced tools like predictive care data and digital therapeutics.

Healthcare IT consultants ensure facilities adopt and use technologies that streamline operations and better serve employees and patients. With their assistance, facilities put in place the right policies, processes, and roles to adopt new technologies at little risk.

3 Compliance Consulting

A single case of non-compliance costs organizations an average of $4 million. In the healthcare industry, where sensitive patient data is highly protected, that number can be even higher. Yet, one study found that 83 of the 100 healthcare facilities they studied were non-compliant with at least one regulation.

4 Population Health Management Consulting

Health needs vary across demographics, and for some populations, there are notable and alarming disparities in access to care. Organizations therefore hire population health management specialists to address the unique needs of the groups they serve.

Population health management consulting helps organizations analyze patient data, outcomes, and financial information among patients grouped by age, condition, income level, or other factors. They surface population-based patterns to help leaders address gaps and concerns and deliver targeted care to individuals.

Specifically, population health management consulting experts focus on:

Balancing operational costs with targeted patient care
Helping providers account for and treat chronic conditions earlier
Analyzing group data to ensure patients aren’t lost in the system
Improving quality (Healthcare Effectiveness Data and Information Set, or HEDIS) and patient satisfaction metrics

5 HR and Operations Consulting

Clinicians and staff are the beating heart of any healthcare organization. But the strain of the pandemic and resulting and lasting stress proved to be too overwhelming for many nurses, leading to 100,000 leaving the profession between 2020 and 2022 alone, according to the American Hospital Association.

HR and operations consultants help identify issues that negatively affect staff satisfaction, complicate providers’ workflows, unbalance workloads, and reduce retention rates.

6 Revenue and Reimbursement Consulting

To give patients the most need-aligned care for the lowest cost, organizations are gradually shifting to a value-based care reimbursement model in which patients pay for the quality of the care they receive, rather than services delivered.

Revenue and reimbursement consultants are experts in this model, helping leaders figure out how to provide the best possible care at the lowest possible price while handling shifting reimbursement guidelines and making strong financial decisions.

7 Marketing Consulting

In addition to patient care, the bottom line is also what keeps healthcare leaders up at night. Growing their patient populations and maximizing revenue are ongoing challenges that can’t be tackled without a powerful marketing operation.

Marketing consultants assess organizations’ current approaches and develop improved strategies to bring more patients into the ecosystem. They combine creative and strategic skills to produce marketing collateral that helps organizations remain at the forefront of their competitive peer groups.

Finding the Right Specialist for Your Needs

Careful thought should go into determining which types of healthcare consulting are a match for your needs. Look at all areas of your business and the factors that could signal a need for help, like whether poor billing cycles are eating into organizational revenue, unbalanced workloads are a concern for providers, or new technologies aren’t doing what they were intended to do. Prioritize your organization’s biggest opportunities for improvement and assess who your ideal partner(s) might be.

Chapter 2

Considering Your Healthcare Consulting Options

Every aspect of the business of healthcare has a consulting specialist associated with it. As unbiased third parties, consultants can spot problems with their outside perspective and define solutions with their professional expertise.

Sometimes, a healthcare leader doesn’t know exactly what their organization needs or even that a challenge exists. Still, there may be some indications that external help is required. Here, we’ll outline some of the main areas where organizations can come up short and let you in on some of the warning signs that your business may have more issues than you can handle in-house.

Why Providers Partner With Healthcare Consulting Firms

Public health emergencies like COVID-19 have changed the way providers care for their patients, affected the financial stability of healthcare facilities, and heightened compliance regulations. In addition, with the emergence of innovative technologies, patients are demanding different kinds of care.

More and more frequently, healthcare leaders are choosing to partner with healthcare consulting firms for support in ushering their facilities through these and other shifts.

Consultants’ specialized knowledge and industry-specific expertise provide immediate value by helping them root out core inefficiencies. They then work hand-in-hand with providers and staff to incorporate better processes.

Here’s a look at seven common benefits leaders can reap from working with healthcare consulting firms.

1 Strategic Planning and Organizational Growth

Keeping pace with emerging trends is essential to staying competitive in the healthcare industry — particularly when consumers are demanding more proactive, cost-effective care. A McKinsey survey found that 90% of healthcare provider executives and 100% of chief marketing officers consider consumer-centric healthcare a top business priority.

Healthcare consulting firms assist leaders in their efforts to adapt to change. They start by reviewing how existing efforts are helping or hurting the organization’s ability to meet long-term goals. Then, they provide hands-on guidance for implementing the right processes to exceed patient expectations and to equip leaders to take advantage of strategic opportunities.

2 Operational Efficiency

Inefficient healthcare operations and workflows can affect everything from patient care to staff retention to an organization’s bottom line. That’s why some major hospitals are implementing predictive technologies and other systems to streamline patient flows.

Healthcare consultants can help identify solutions to reduce patient wait times, improve onboarding processes, and simplify staff scheduling. Those who provide custom software development can take things a step further and build unique solutions for your organization’s needs.

3 Technology Integration and Management

Technology permeates the healthcare industry; 84 million people in the U.S. use healthcare apps, telehealth accounted for around 30% of all care visits in 2020, and research predicts that more than 70 million U.S. patients will use remote patient monitoring tools by 2025.

But these technologies are only as good as their usage, implementation and security. Healthcare consultants with IT expertise can help ensure that technologies are streamlining — rather than impeding — patient care.

These experts advise organizations on how they can employ the right tech for their specific needs and help ensure that staff and providers are adequately trained to use it effectively.

4 Financial Management

While providers focus on patient care, leaders must concentrate on generating revenue and stabilizing the organization’s finances. Consulting firms enable financial success with their expertise in accounting, insurance, and reimbursement structures.

Consultants advise leaders on the most profitable areas to invest funds and help manage finances according to the organization’s level of risk tolerance. After evaluating current financial management practices, they help create the right pricing structures for care and even work with marketing teams to drive new patients to the facility. In short, they focus on everything an organization needs to keep a positive cash flow.

5 Quality Improvement and Patient Care

According to McKinsey, almost a quarter of patients in the U.S. reported deferring healthcare at the height of the pandemic. The reason? Trouble navigating the healthcare system.

Healthcare consultants help leaders solve critical care-based issues like this by identifying and addressing care delivery gaps and smoothing out systems to better facilitate equal access to care.

Specifically, they provide guidance to improve healthcare quality and ensure organizations are keeping up with the latest research and evidence-based practices around patient safety, intake workflows, and treatment.

6 Regulatory Compliance

Considering all the highly sensitive medical, financial, and personal information that healthcare facilities handle, data breaches can be catastrophic. The industry hit an all-time high in 2021 with 686 major data breaches, according to the HIPAA Journal.

Healthcare consultants keep organizations on top of local, state, and federal policies. Through gap and risk assessments, along with comprehensive auditing and ongoing monitoring, consultants can help healthcare leaders protect their organization’s good reputation while saving time and money.

7 Change Management

Change is hard. It’s so hard, in fact, that McKinsey reports that 70% of all change management projects fail. The good news is that fresh initiatives are 30% more likely to succeed when people are invested in the change.

Consultants work to secure buy-in and build custom action plans to drive organizational success during a process or system transformation. They ensure that staff experience the least amount of disruption possible, even for the largest systemic gains. They further make sure staff and providers are part of the change, not supplemental to it, by conducting hands-on training, demonstrations, and input-gathering sessions.

In healthcare, where leaders are expected to stay on top of constant industry changes, new technology and premium care – all while keeping their business running smoothly – the most successful leaders are the ones who know when to call in outside help.

How to Know When You Need Healthcare IT Consulting Services

The healthcare industry’s IT environment is complex, highly regulated, and increasingly distributed. Emerging technologies like telemedicine and AI are changing how healthcare is developed, managed, and delivered. National and state governments are rolling out more regulations to protect the privacy and safety of patients and employees, and new systems and infrastructure are needed to keep up.

For health systems already struggling with revenue streams and worker shortages, healthcare technology consulting can lift some of the burden off of leaders and simplify technology usage.

Warning Signs That You Need Healthcare Technology Consulting

How are you supposed to know when you should consider bringing in an outside partner?

Here are a few signs to look for:

You have inefficient IT systems that can hurt patient care and staff productivity.

COVID-19 forced healthcare organizations to confront inefficiencies. Facilities fast-tracked the adoption of technologies like cloud applications, telehealth, and enhanced EHR operations. Healthcare IT consulting services can help organizations step back and assess the appropriate technologies to implement or re-deploy to automate tasks, migrate workloads to the cloud, and connect providers and patients remotely.
Your staff lack expertise with emerging technologies like AI and telehealth.

AI models can be used for everything from medical triage to treatment recommendations to automation of administrative tasks and patient engagement strategies. Despite 75% of healthcare executives predicting that generative AI will become key to their operations, only 6% have a strategy in place. One reason is the lack of in-house resources; healthcare IT consultants can provide those resources and skills, find the right technologies, and integrate them into the IT environment.
There are strategic and technological misalignments in organizational plans.

Healthcare organizations need to make sure their strategic goals mesh with their technology roadmap. Technology is the engine that makes many of these goals possible; if the two aren’t in sync, inefficiencies can arise. Healthcare IT consulting companies can build a technology plan that dovetails with the company’s overall strategy.
You don't have the tools to face data breaches and other security concerns.

Healthcare facilities, with their massive amounts of sensitive patient data, broad use of connected devices, and reputation for weak security, have become popular targets of ransomware groups and other cyberthreats. A recent survey found that 78% of healthcare organizations experienced a cybersecurity incident within the past year, and 60% said breaches had a moderate to substantial impact on their ability to deliver patient care. Healthcare IT consulting can establish necessary security and training to protect against such cyberattacks.
It's proven too difficult to keep up with regulatory compliance requirements.

Healthcare facilities must answer to an array of regulations to protect privacy and safety, from HIPAA and OSHA to GDPR (in Europe). It’s a complex environment with constant changes. Healthcare IT consulting companies can ensure that a facility’s IT infrastructure remains compliant.
Implementing Epic requires more resources than you have.

Epic Systems states that over 305 million patients have a current electronic record in their system. The software promises to improve workflows, enhance patient care, and save money, but putting it in place comes with challenges. Healthcare IT consultants address issues like training, staffing, and system integration to ensure this critical technology is properly implemented and managed.

These are only a few of the areas where consultants can make a difference; others include migrating to new IT systems, moving to the cloud, managing data, selecting vendors, and ensuring a seamless digital experience for patients. Healthcare IT consulting services bring the expertise and manpower to address all of them.

Make sure you fully understand the following about any prospective partner:

Breadth of Technical Expertise and Industry Reputation

Know what services they provide, what hospital systems they have worked with, and what those partnerships looked like. Inquire about the expertise that each of their team members brings to the table, and ensure you are satisfied with their answers.

Specialized Services Experience

Does the company have deep experience administering EHR systems like Epic or software like HL7? What about services for reaching at-home workers or remotely monitoring patients?

Customization and Integration Capabilities

Healthcare facilities have their fair share of legacy systems that need replacing and applications that require integration. Healthcare IT consultants must be able to confidently advise what should stay or go.

In situations where specific software capabilities are needed or infrastructure needs to be architected in a certain way, your healthcare IT consulting firm should be able to bring in the systems that can do the job – or develop custom software when needed.

Security and Compliance Know-How

Any skillfull healthcare IT consultant will be able to conduct risk assessments, design secure IT architecture, and deliver employee training in order to improve security awareness, close off cyberattacks, and ensure compliance.

Alignment Between Technology and Strategic Mission

Every healthcare organization has a strategy and goals they want to achieve in the short and long term. If its strategic goals and technology plan are out of sync, inefficiencies multiply, patient care suffers, and money is lost. Your healthcare IT consulting company must be able to understand your hospital’s overall goals and suggest the technologies and IT services to help you reach them. If they can’t, keep looking!

Chapter 3

Beginning Your Search for a Healthcare Consulting Firm

Now that you know what healthcare consultants do and how to identify the areas where you need assistance, how do you go about choosing a firm?

In order to navigate the crowded field of the industry’s consulting landscape and find the perfect ally for your organization's growth, you need to know the qualities that set the best healthcare consulting firms apart.

Here’s what you should be looking for in a potential partner – and some questions to ask to ensure you make the right decision.

Top Healthcare Consulting Firms: What Makes Them Special

When selecting a healthcare consulting firm, the decision isn't just about hiring experts; it's about aligning with a team that has a clear understanding of what your organization wishes to accomplish and the wisdom to help overcome the obstacles you face. Healthcare consultant firms should be chosen with similar criteria as one would use when selecting a top executive or adviser.

Here are the attributes to look for:

Deep Industry Knowledge and Functional Expertise

The top healthcare consulting firms have a bounty of industry-specific knowledge. Their consultants understand the complexities of healthcare operations, from regulatory compliance to emerging trends, enabling them to provide targeted recommendations that drive efficiency and growth. These companies vary in size and niche, from the “Big Three” MBB firms (McKinsey & Company, Bain & Company and Boston Consulting Group), which offer expertise across several healthcare sectors, to more specialized organizations, like Putnam, which focuses on life sciences.

Client Centricity and Long-Term Vision

The best firms take the time to become intimately familiar with your unique goals, challenges, and organizational culture, and equate your organization’s success with their own. They work alongside you to develop strategies that not only address immediate problems but also lay the groundwork for sustainable growth and resilience, meeting your short- and long-term goals. Their vision and mission should align with yours.

Emphasis on Change Management

Change is constant in healthcare, and the consulting firms that are a cut above exhibit mastery over change management. They guide you through transitions by communicating openly, providing strong governance and employee engagement strategies, and focusing on the minimization of disruptions. A great consulting firm explains how they work at the start of the relationship, before you commit.

Holistic Problem-Solving Approach

Effective solutions in healthcare often require addressing interconnected challenges, like improving the speed of care delivery while also enhancing patient safety measures. Top firms adopt a holistic approach, considering the broader implications of their recommendations and providing comprehensive strategies that tackle multifaceted issues.

Mastery of Analytics and Data

Data is everything in a digital world. Top healthcare consulting firms use advanced analytics to supply insights that drive informed decision-making, optimize processes, and enhance patient care. Bigger firms generally have greater access to resources, both digital and human, which improves the breadth of information they can provide.

Reputation and Successful Track Record

Reputable consulting firms adhere to the highest ethical standards, ensuring that their recommendations not only benefit the organization financially but also uphold the well-being of patients and stakeholders. Top healthcare consulting firms have a proven track record of delivering results for a diverse range of clients. Their success stories should be a testament to their expertise and commitment to client satisfaction.

The Best Healthcare Consulting Firms Aren’t Always the Biggest

While household names often dominate the conversation, smaller or newer healthcare consulting firms also bring unique advantages to the table.

These firms can provide:

1 Personalized Attention

Smaller firms often hang their hat on personalized service and emphasize their ability to focus on your organization's unique needs and provide regular advice. Unlike a larger consulting practice, they’ll consider your organization a high priority.

2 Agility and Flexibility

Newer firms are usually more agile, adapting quickly to industry shifts and customizing their strategies to suit emerging challenges. It’s not unusual for smaller, newer companies to bend the rules for their prized customers, and that rule is true of consulting as well.

3 Competitive Pricing

Boutique firms are usually able to provide more cost-effective solutions than those offered by big healthcare consulting companies, giving you access to experts without stretching your budget. You’ll also avoid any slowdowns that a large, more bureaucratic firm may have, though possibly at the expense of the resources that come with a larger company.

Identifying Your Ideal Consulting Partner

As you embark on the journey of finding the ideal healthcare consulting firm, keep these qualities in mind. Look beyond the brand names and delve into their expertise, client testimonials, and the tangible outcomes they've delivered. It's also essential to engage in thorough discussions to assess whether they’re the right fit for you, now and in the future.

Here are some essential questions to ask when interviewing healthcare strategy consulting firms to ensure you make a well-informed and advantageous decision.

What Expertise Do You Have in Our Particular Healthcare Focus Area?

Start your evaluation by understanding what kind of background the consulting group has in what you do. A top firm with experience in your niche is more likely to provide tailored solutions that address your organization's distinct needs. Inquire about their past projects related to your field.
Can You Provide Case Studies or Share Success Stories From Clients?

To gauge a healthcare consulting firm's track record, request case studies or success stories from their previous clients. These real-world examples will offer insights into their ability to deliver tangible results. Look for evidence of improvements in patient care, operational efficiency, financial performance, and other key performance indicators relevant to your organization's objectives.
How Do You Stay Current With Healthcare Industry Trends and Changes?

Staying aware of industry news, regulations, and technological advancements is paramount in healthcare. The best healthcare consulting firms should demonstrate a commitment to continuous learning and adaptation. Ask about their methods for staying up to date with industry developments, and consider their ability to foresee emerging trends that could affect your organization.
What Experience Does Your Team Have?

The makeup of a healthcare consulting firm's team is pivotal to the success of your partnership. Delve into qualifications, experience, and expertise of their consultants. Ensure that the team assigned to your project has a deep understanding of the specific challenges your organization faces. A diverse team with varied skills can offer a more comprehensive perspective on how to best solve your company’s problems.
What Data-Driven Approaches Do You Utilize to Determine Success?

Healthcare strategy is highly dependent on data-driven decision-making. Look into whether the firm you’re talking to has the tools and know-how to correctly interpret data and provide strong insights, which enable informed and effective strategies specific to your organization.
How Do You Measure and Ensure Both Short- and Long-Term Success?

The best consulting partnerships should deliver both impressive, immediate results and sustainable, long-lasting improvements. Check with the firm about the metrics and benchmarks they use to measure success and to ensure the longevity of the changes they recommend. Look for a commitment to ongoing support and monitoring to track the progress of implemented strategies. This proactive approach will safeguard your organization's gains and help you adapt to evolving circumstances.

Conclusion

A True Healthcare Consulting Partner During Turbulent Times

Amid a healthcare landscape that’s constantly in motion, staying ahead requires not just strong leadership, but the support of a strategic partnership with a healthcare consulting firm that understands the nuances of your industry. The firm you choose is more than a team of advisers; they’re invaluable allies who offer objective insights, data-driven solutions, and a deep appreciation of the challenges and opportunities that healthcare leaders and practices face.

Elxo is committed to closely partnering with stakeholders at all levels of your organization, from executives to staff and clinicians, to understand both high-level challenges and the day-to-day pain points that frontline workers need addressed in order to quickly deliver quality care. We work with you to identify problems whose solutions elude you, or that you may not even fully understand at scope, and provide expert guidance and recommendations.

We believe in easing the headaches derived from unsatisfactory care coordination and complex care path management, and are passionate about empowering patients to be part of their care teams. To this end, we offer not only consulting but also software development services that are built to your specifications and scalable if you should need to use them for different use cases. We offer flexible options, from custom solutions to no-code and low-code software that your teams can easily update and make changes to as needed.