Some will decry this fact and others will laud it, but HIT consulting has grown to over one-third of HIS vendor revenues last year at $3.5B. In truth, it is becoming hard to separate vendors from “consulting” firms these days, as:
HIT Vendors - almost all now have a “consulting” division that offers:
Strategic planning (totally objective, we're sure)
System audits (who else knows their products as well?)
Implementation (which often exceeds software license fees!)
Outsourcing from giants such as McKesson, Siemens and Eclipsys.
“Remote hosting” - running servers from their corporate HQ.
HIT “Consulting” Firms - the quotes are from the fact that consulting firms used to offer expert advice on system planning and selection, and then leave. Today, they tend to get their foot in the door and stay through:
Traditional services - such as IT assessments, strategic planning, system selections, contract negotiations, etc. These services are now a small part of giant “consulting” firm revenue today.
Implementation Services - as if vendors don't charge enough … In truth, EMRs and CPOE have become so complex and critical that many large hospitals consider consulting help in the “clinical transformation” to implement these new technologies.
Outsourcing - a major source of the staggering revenues being reported by giants like CSC and Perot, each with over $1B in annual HIT revenue. Recent surveys report only a few hundred hospital outsource their IT shops, so dividing them into the mega-revenue gives one an idea of how profitable that niche must be.
Our list is missing one major player: Affiliated Computer Services (ACS), which acquired Superior Consultant a few years back and does many billions in many industries, primarily through outsourcing of data centers. Their HIT revenues are probably close to CSC and Perot, which would bring total consulting revenue to almost half of total HIS vendors' revenue! - V.C., B.A.
Consulting Companies
Company | 08 Revenue |
1. CSC | $1,640,000,000 |
2. Perot Systems | $1,304,000,000 |
3. Cognizant | $688,377,509 |
4. CareTech Solutions | $125,240,000 |
5. CNSI | $75,961,347 |
6. IFMC | $63,000,000 |
7. InfoLogix, Inc. | $62,000,000 |
8. Computer Task Group, Inc. (CTG) | $55,633,024 |
9. MEDecision, Inc. | $47,400,000 |
10. Vitalize Consulting Solutions, Inc. | $41,000,000 |
11. Perficient, Inc | $29,848,593 |
12. Beacon Partners, Inc. | $29,000,000 |
13. RCM Technologies, Inc. | $26,975,975 |
14. Hayes Management Consulting | $17,000,000 |
15. The Coker Group | $13,000,000 |
16. Health Data Specialists, LLC | $11,425,000 |
17. The Shams Group | $10,500,000 |
18. VIRTELLIGENCE | $9,406,582 |
19. Impact Advisors, LLC | $7,200,000 |
20. Cumberland Consulting Group | $6,065,000 |
21. Health Care Information Consultants, LLC | $1,226,000 |
22. Bloom Road Consulting Group | $160,000 |
Healthcare Informatics 2009 June;26(6):18
