The 2017 Healthcare Informatics 100 Product Breakouts: Consulting Services

Each year, Healthcare Informatics ranks the 100 vendors with the highest revenues derived from healthcare IT products and services earned in the U.S. based on revenue information from the previous year. This is what makes up the Healthcare Informatics 100 (THE 100). And for the second straight year, as part of THE 100 questionnaire, vendors were also asked to estimate the percentage of revenue earned in each of their product segments.

Beyond presenting the product segment revenues in each company listing, Healthcare Informatics editors took to further breaking down the top revenue earners in each of our seven segments: Financial Information Systems, Clinical Information Systems, Data Analytics, Data Management, Data Security, Data Exchange, and Consulting Services.

Throughout the next several days, Healthcare Informatics will reveal its top 5 companies by revenue within these seven different categories. Serving as a supplement to the broader Healthcare Informatics 100 list, we hope that this data, along with the content that accompanies it, gives you our readers a greater sense into the latest market trends within each of these respective product categories.

All data has been sent to Healthcare Informatics from the vendors themselves and confirmed by each company.

Top 5 Consulting Services Vendors by Revenue

As healthcare providers and payers continue to keep pace with rapid changes in policy, technology and reimbursement models, they are now requiring an elevated level of advisory assistance from their consulting partners, resulting in shifts in the healthcare consulting marketplace in the last few years.

“The areas where we are seeing an uptick in demand are M&A, digital health, consumerism and cybersecurity. In addition, we’re seeing increased demand for integrated strategy, performance improvement and IT services,” Dan Coate, director and informatics and technology practice lead at The Chartis Group, the Chicago-based consulting firm, says.

In addition, while healthcare providers continue to shift from volume to value, Coate says political and policy changes at the federal level are having an impact on healthcare organizations, and, in turn, on the healthcare consulting services industry.

“With the new presidential administration, and the repeal of the ACA [Affordable Care Act] and uncertainty around the AHCA [American Health Care Act], we see organizations being more cautious with their overall IT spend —including their consulting spend. Although organizations believe the ultimate shift from fee-for-service to value-based care is inevitable, just how and how fast it will evolve is unclear,” he says, adding, “As a reaction, they are keeping it simple and focusing on the basics. As I heard from one client, ‘The one thing we are sure of is that coordinated care is better than uncoordinated care.’ This is driving clients to focus on the bottom line and be more interested in services that help reduce operational costs — both costs within IT and IT initiatives that can reduce costs elsewhere in the organization.”