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Top 5 Largest Healthcare Consulting Firms
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Top 5 Largest Healthcare Consulting Firms

Introduction

In this video, Dr. Eric Bricker discusses the top five largest healthcare consulting firms in America and their services.

Healthcare Consulting Firms

  • The top five largest healthcare consulting firms in America provide strategic and operational direction for hospitals, health plans, and other actors in healthcare.
  • Deloitte is the largest healthcare consulting firm with a 2.7 billion dollar revenue business. They specialize in revenue cycle management (RCM), which involves billing and collections to help hospitals get paid more quickly.
  • Guidehouse is the second-largest firm with 485 million dollars a year in revenue from healthcare consulting. They are also known for their expertise in RCM and have done projects for over 250 hospitals in America.
  • Optum is the third-largest hospital consultant in America, with 755 million dollars of total consulting revenue. They do provider consulting as well as health insurance company consulting.
  • Huron Consulting Group is the fourth-largest firm that provides services such as financial advisory, operations improvement, and technology solutions to clients across various industries including healthcare.
  • Lastly, Navigant Consulting provides similar services to Huron but has a stronger focus on legal disputes.

Conclusion

In conclusion, these top five largest healthcare consulting firms provide valuable strategic and operational direction to hospitals, health plans, and other actors within the industry. Their expertise ranges from revenue cycle management to financial advisory services.

Healthcare Consulting Companies

In this section, the speaker discusses various healthcare consulting companies and their services.

Conflict of Interest

  • United Health Group's business has a conflict of interest as one part of the company tries to increase healthcare costs by helping hospitals while another part tries to decrease them.
  • Optum Consultants may have to recuse themselves from working with hospital systems in Georgia since they administer employee benefit plans for the state employees.

Viziant and Huron Consulting Group

  • Viziant and Premier are two GPOs that do group purchasing for hospitals.
  • Viziant also has a consulting arm that does revenue cycle consulting for hospital systems.
  • Huron Consulting Group does revenue cycle management programs for hospitals.

Clinical Optimization

  • The speaker wishes that healthcare consultants would work on clinical optimization instead of revenue cycle improvement projects.
  • Hospitals have a lot of clinical variability, and consultants could help improve clinical improvement programs.
Video description

Top 5 Largest Healthcare Consulting Firms. The largest healthcare consulting firms according to a Modern Healthcare ranking are: 1) Deloitte: $963 Million in healthcare consulting revenue. 2) Guidehouse: $485 Million in healthcare consulting revenue. 3) Optum: $755 Million in healthcare consulting revenue and a division of UnitedHealth Group. 4) Vizient: $410 Million in healthcare consulting revenue. Vizient is one of America's largest Group Purchasing Organizations (GPOs) along with Premier. 5) Huron Consulting Group: $378 Million in healthcare consulting revenue. McKenzie & Company also has a large healthcare consulting practice that is called their 'Healthcare Systems and Services' division. Sources: https://www2.deloitte.com/us/en/pages/operations/solutions/revenue-cycle-transformation-services.html https://guidehouse.com/capabilities/solutions/revenue-cycle-management/revenue-cycle-consulting-and-financial-solutions https://www.optum.com/content/dam/optum4/resources/pdf/oas-helping-health-care-leaders-thrive-brochure.pdf https://www.vizientinc.com/what-we-do/operations-and-quality/clinical-practice-solutions-center https://www.huronconsultinggroup.com/expertise/business-operations-healthcare/revenue-cycle https://shbp.georgia.gov/plan-options-programs/unitedhealthcare https://www.forbes.com/companies/guidehouse/?sh=7ccf46c610e9 AHealthcareZ is 300+ Healthcare Finance Educational Videos. 💥 BOOK: Check out Dr. Bricker’s Book 16 Lessons in the Business of Healing here: https://www.ahealthcarez.com/healthcare-money-campfire-stories-book AHealthcareZ Viewers Include: Employee Benefits Professionals, HR, CFOs, Insurance Brokers, Benefits Consultants, Doctors and Nurses in Leadership Roles, Hospital and Health System Administrators, Health Insurance Carrier and PBM Professionals, Pharma and Med Device Professionals, Academic Professors and Students in Healthcare Administration and Public Health. 90,000+ Views Per Month Across All Platforms. Visit AHealthcareZ.com to Subscribe to the Healthcare Finance Video Newsletter.