Smaller healthcare IT consulting firms are making a strong statement, according to new research from Orem, Utah-based KLAS. According to the report, the consulting market that was once dominated by large, full-service firms is expanding to include the talents of many smaller but high-performing boutique practices that offer very specialized services.
KLAS research found that the HIT consulting market has experienced significant consolidation over the past five years, which was led to more choices for providers. It also found that talented senior executives have left acquired firms to join or form new practices, giving providers a larger talent pool from which to choose.
Results from the study, titled Maximizing Your Consulting Investment: A Report on Healthcare IT Consulting Services, include the following:
The highest-ranked company in the Clinical Implementation Supportive, Planning and Assessment, Technical Services and Staff Augmentation categories were all smaller firms, most of which specialized in a specific product or type of work.
In the Planning and Assessment category, the top seven performing firms were smaller consulting firms, most of which focused exclusively on advisory services.
Four firms formed since 2002 scored an 88 or above on KLAS’ overall performance rating, which is exceptional.