Healthcare employers, hospitals, insurance companies, pharmaceutical developers and medical device manufacturers turn to operators in the Healthcare Consultants industry to improve operating efficiencies and manage risk. Over the five years to 2019, demand for healthcare consultants has increased due to technological advances in healthcare-related industries and the changing regulatory environment. Moreover, the 2010 Patient Protection and Affordable Care Act expanded access to healthcare to millions of Americans, driving growth in the overall healthcare sector and stimulating demand for consulting. Over the past five years, companies have used healthcare consultants more frequently as corporate profit has improved and companies have had more available funding for consultancy services. With growing demand, industry operators have been able to charge higher fees, particularly for specialized or technical services. The industry's relatively high profit margin has enticed new entrants in recent years. However, the number of specialty independent practices has declined moderately over the five years to 2019, as general consulting firms have acquired these companies to gain entrance into niche markets. Despite this trend, the total number of companies is expected to increase over the five years to 2024.
This industry provides specialist advice to businesses involved in healthcare fields, such as hospitals, physicians, pharmaceutical companies and insurance providers. Services include advice related to financial management, human resources, information technology and other operations.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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