Cared for: Healthcare companies will demand consultants to manage risk and handle reform

Over the past five years, demand for healthcare consultants has increased due to technological advances in the healthcare sector and the changing regulatory environment. Moreover, the 2010 Patient Protection and Affordable Care Act expanded access to healthcare to millions of Americans, driving growth in the overall healthcare sector and stimulating demand for consulting accordingly. However, budgets remained tight for many industry customers due to the lingering effects of the recession. Over the next five years, industry revenue is expected to continue on its upward trajectory...purchase to read more.

Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 12-17
7.1%
Forecast Growth 17-22
Profit
Employment
26,479
Businesses
17,521

Industry Threats & Opportunities

  • Increased demand allows operators to charge higher fees, boosting both revenue and profit
  • New technology requirements are affecting care providers, spurring demand for consultants
  • Rising healthcare expenditures will cause providers to seek out consulting services
  • Industry Report - Industry Analysis Chapter

    Healthcare consultants have benefited from many factors over the five years to 2017. Healthcare reform in the United States has driven hospitals and other care providers to realign their operations to accommodate millions of previously uninsured Americans and comply with new regulatory requirements. Declining Medicare and Medicaid reimbursement rates and the rising cost of care have pushed healthcare providers to look for cost savings and engage industry consultants, thereby boosting industry revenue over the five years to 2017. Coupled with the recovering economy and the passage and implementation of healthcare reform, demand for healthcare consultants is expected to boom over the period, with total industry revenue forecast to grow an annualized 7.1% o...purchase to read more.

    Additional Insights for the Healthcare Consultants Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Healthcare Consultants Industry are

  • Ability to compete on tender
  • Effective quality control
  • Well developed internal processes
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Total health expenditure in the Healthcare Consultants industry impact industry performance..

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    What's in this report

    What is the Healthcare Consultants Industry?

    This industry provides specialist advice to businesses involved in healthcare fields, such as hospitals, physicians, pharmaceutical companies and insurance providers. These services include advice related to financial management, human resources, information technology and other operations.

    Industry Products
  • Strategic management
  • Financial management and operations
  • Human resources and benefits
  • IT strategy
  • Industry Activities
  • Strategic management consulting
  • Financial management consulting
  • Information technology consulting
  • Human resource consulting
  • Process and logistics consulting services
  • Marketing consulting services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Total health expenditure
  • Federal funding for Medicare and Medicaid
  • Government consumption and investment

  • Current Performance
  • Growth as the economy recovers
  • Reform leads to more regulation, more business
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth in the coming years
  • Reform leads to more regulation, more business
  • Table: Healthcare Consultants Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Healthcare Consultants Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Brand Name Pharmaceutical Manufacturing
  • Healthcare and Social Assistance
  • Hospitals

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • Office Supply Stores

  • Products & Services
  • Strategic management
  • Other
  • Financial management and operations
  • Human resources and benefits
  • IT strategy
  • Chart: Healthcare Consultants Industry Products and Services Segmentation

  • Demand Determinants
  • Hospitals, pharmaceutical manufacturers and physicians
  • Economic conditions
  • Reimbursement rates
  • Healthcare reform

  • Major Markets
  • Hospitals
  • Government clients
  • Other healthcare providers
  • Pharmaceutical clients
  • Insurance clients
  • Nonprofit organizations
  • Other
  • Chart: Major Market Segmentation for the Healthcare Consultants Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Healthcare Consultants

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Healthcare Consultants Industry

  • Industry Globalization
    Accenture PLC, Deloitte Touche Tohmatsu LLC, The Advisory Board Company, Huron Consulting Group Inc., PricewaterhouseCoopers LLP,
  • Table: Accenture PLC - financial performance
  • Table: Deloitte Touche Tohmatsu LLC - financial performance
  • Table: The Advisory Board Company - financial performance
  • Table: Huron Consulting Group Inc. - financial performance
  • Table: PricewaterhouseCoopers LLP - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Healthcare Consultants Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Healthcare Consultants Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total health expenditure (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Electronic Health Record (Ehr)
  • A systematic collection of electronic health information about individual patients or populations.
  • Hitech
  • Acronym referring to Health Information Technology for Economic and Clinical Health, an act signed into law as part of the ARRA in 2009 to promote adoption and use of health information technology.
  • Meaningful Use
  • Provisions in the HITECH Act that authorize payments to clinicians and hospitals that use EHRs in a way that significantly improves clinical care.
  • Outpatient Care
  • Medical care or treatment that does not require an overnight stay in a hospital or medical facility.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Healthcare Consultants Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Healthcare Consultants:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Healthcare Consultants market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Healthcare Consultants, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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