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The Healthcare Informatics 100 Product Breakouts: Consulting Services

June 30, 2016
by the Editors of Healthcare Informatics
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Editor’s Note: 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 year, however, for the first time ever, vendors were also asked to estimate the percentage of revenue earned in all of their product segments. For the vendors that filled out the product revenue data, those percentages were displayed in pie chart form within each listing.

Beyond presenting the product segment revenues in each company listing, Healthcare Informatics editors wanted to further breakdown 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—based on percentage of total health IT 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 brief 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.

The Consulting Services category is qualitatively one of the most diverse of the categories within the Healthcare Informatics 100 list. Consulting firms are consulting with healthcare providers and payers on a dizzying array of issues. And yet healthcare consulting firms are, interestingly, faced with certain challenges that are similar to those faced by provider organizations in healthcare, most particularly the challenge of bringing value to the delivery of services.

Dan Coate, a director in the informatics and technology practice at The Chartis Group, the Chicago-based consulting firm, sees the analogy. “Similar to healthcare providers shifting from volume to value, the healthcare consulting marketplace has shifted over the last few years,” he says. “Healthcare organizations are faced with challenging questions that require a higher level of critical thinking and strategic planning. As CIOs are being asked by their executive teams to solve more complex business issues, they are requiring an elevated level of advisory assistance from their consulting partners to move the organization from the implementation of basic EHR functionality to using technology to enable and support the enterprise’s strategic imperatives. This necessitates a substantial focus on developing frameworks, methodologies and tools that need to be in place, as well as the importance of having experienced team members with a consultative mindset.”

Top 5 Consulting Services Vendors by Revenue

Vendor Product Breakout Revenue % Of Whole Revenue
NTT DATA, Inc. $208,250,000 85%
eClinicalWorks $140,700,000 35%
Nordic $137,154,267 100%
Change Healthcare $132,937,470 9%
The HCI Group $87,242,152 100%