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

Over the five years to 2018, 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 (PPACA) expanded access to healthcare to millions of Americans, driving growth in the overall healthcare sector and stimulating demand for consulting. As a result, industry revenue is expected to grow an annualized 7.1% over the five years to 2018 to reach $6.0 billion. The industry's relatively high profit margin has enticed entrants in recent years. However, the number of specialty independent practices has declined moderately over the five years to 2018, as general consulting firms have acquired these companies to gain entrance into niche markets...purchase to read more.

Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 13-18
7.1%
Forecast Growth 18-23
Profit
Employment
26,963
Businesses
17,257

Industry Threats & Opportunities

  • Demand for healthcare consultants has increased due to technological advances and the changing regulatory environment
  • 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 Key Buyers Chapter

    The Healthcare Consultants industry is fragmented, despite the presence of many high-profile global corporations. In 2017, the four largest management consulting firms are estimated to account for 75.5% of the US market, resulting in a high market share concentration. Still, the high fragmentation of smaller platers stems from the abundance of independent contractors in the industry and the proliferation of specialized, boutique consulting firms. More than 90.0% of firms with a payroll have fewer than 10 employees.The industry is in the midst of a shift in concentration, evidenced in opposing trends among small and large players. While the industry is highly fragmented, there is increasing concentration among major companies. Exi...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. 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
  • Profit
  • Wages
  • Purchases
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Healthcare Consultants

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Healthcare Consultants Industry

  • Industry Globalization
    Accenture PLC, The Advisory Board Company, Deloitte Touche Tohmatsu LLC, Huron Consulting Group Inc., PricewaterhouseCoopers LLP,
  • Table: Accenture PLC - financial performance
  • Table: The Advisory Board Company - financial performance
  • Table: Deloitte Touche Tohmatsu LLC - 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 (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total health expenditure (2009-2023)

  • 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 industry research report on Healthcare Consultants can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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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