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Financial Improvement Consulting 2023
A Look at Achieved Outcomes in a Financially Challenging Environment
Author
Warren Whitford
Author
Sam Eaquinto
Author
Robbie Bullough
Healthcare organizations are facing unprecedented financial pressure; several macroeconomic factors—including the COVID-19 pandemic, inflation, and staffing shortages—have forced organizations to work around decreased revenues and increased costs. At this critical time, organizations are looking to consulting firms to help improve their financial performance and circumnavigate obstacles. KLAS’ 2020 Financial Improvement Consulting report examined how firms were providing guidance to healthcare organizations during the early months of the pandemic. Now, roughly three years later, this report offers an updated look at the types of work consulting firms are doing and the outcomes clients are achieving in this financially challenging environment.
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Key Findings:
- Market Insights: Financial Performance Improvement Is Most-Reported Type of Engagement, while Improved Efficiency Is Most-Reported Outcome
- Impact Advisors Seen as Strategic; Guidehouse Drives Value and Exceeds Client Expectations
- Chartis & ECG Management Consultants Have Most Validated Engagements, with at Least Twice as Many as Other Firms
- Reputable, Cross-Industry Firms Deloitte* & PwC* Drive Positive Outcomes for Clients
- Among the Other Limited-Data Firms, Optum* Stands Out for Consistently Driving High Client Satisfaction
Writer
Sarah Brown
Designer
Breanne Hunter
This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2024 KLAS Research, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.