Passionate to become a healthcare professional? Here is a guide to make it a successful small business healthcare consulting career. Read on!
Healthcare Consulting
Healthcare consulting helps organizations navigate the common challenges faced by the healthcare industry. The role of a healthcare consulting firm is to optimize efficiency, generate revenue, suggest structural improvements. In this blog, we will learn more about healthcare consultants, different healthcare consultant profiles, market salary, and how to become one.
What is a healthcare consultant?
Healthcare consultants are management analysts who maximize the organization and efficiency of healthcare-related companies. They are responsible for examining the efficiency, profits, and structure of the organization, and offer suggestions on different methods of improvement that can be adopted. Healthcare consultants can either freelance or work with firms.
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Healthcare consultant job description
Healthcare consultant’s job description includes below duties and responsibilities,
- Assess business practices and provides regular insights based on ongoing industry trends
- Identify improvement areas to improve efficiency in the healthcare organization
- Work with managers and other high-level employees
- Monitor results and change processes in order to improve outcomes
- Work towards reducing costs and increasing revenue
- Ensure that the patient is satisfied and safe
- Provide creative solutions to complex problems
- Gather and analyze data, draw conclusions, create reports, and present findings in the form of recommendations to the client
- Advise client on salary, staffing, budgeting, and advertising matters
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Top 15 profiles as healthcare consultants
Healthcare consultancy is a sector with high levels of role variation. There are various types of healthcare consultants based on their specific specializations, job duties, and roles. Let us take a look at the top 15 healthcare consultant profiles in a bit more detail,
1. Marketing health consultant
Gone are the days when healthcare industries required little to no marketing efforts. In current times, the healthcare sector has become increasingly competitive across segments. Marketing consultants help industries determine marketing requirements, formulate a marketing strategy, implement & monitor strategy across channels, continually assess the efficacy of marketing initiatives, etc.
2. Application consultant – medical consulting job
An application consultant in healthcare consulting must showcase expertise and knowledge of the healthcare industry. They analyze requirements and design appropriate solutions by applying deep technology and design methods knowledge. They usually work in the IT industry and implement organizational strategies based on their understanding of business requirements.
3. Healthcare consulting in technology
Healthcare technology consulting has a major role to play in the healthcare industry as more and more businesses require special know-how on implementing technology. Healthcare technology consultants play several roles including evaluating technological applications, advising on IT implementation, installing new systems, monitoring implementation, and providing support.
4. Contract healthcare management consulting
Contract management consultants assist healthcare companies in negotiating and managing financial systems. They help healthcare providers by managing the full life cycle of contracts with payors. Major roles of a contract management consultant include standardizing contracts, renegotiating for better terms, automating contract management process, understand billing codes, etc.
5. Health consulting in business analytics
Healthcare business analysts are people with combined skills in management, finance, research, and data analysis. Their major goal is to improve the operations of organizations in the healthcare sector. Along with improving business processes, healthcare business analysts also reviews financial statements as well as the organization’s current practices.
6. Healthcare consulting services in HR and operations
HR and operations consultants in healthcare consulting are specialists in simulating a positive work environment. They carry out tasks like managing and hiring people with ease. Healthcare consultants in this field wear several hats, such as developing hiring standards and techniques, promotion, retainment efforts, etc.
7. Medical consultant job as a medical health manager
Medical health managers are the planners, directors, and coordinators who are responsible for running the healthcare facilities efficiently. They are usually extremely detail-oriented people with amazing analytical skills. Medical health managers must also demonstrate good communication skills as they spend most of their time working with doctors.
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8. Biomedical consulting
Biomedical consulting is a field of healthcare consulting, in which a consultant suggests and recommends new products or technologies to companies related to biotechnology. They assist clients in finding solutions to problems and offer expert advice related to applications of biological sciences. Biomedical experts handle both technical and business duties.
9. Health care strategy consulting
Strategy consulting is one of the most dominating fields in healthcare consulting. Healthcare strategy consultants are usually generalists with a strong business acumen mixed with deep knowledge of the healthcare sector. Strategic consultants are more focused on a health care organization’s growth and development.
10. Healthcare business consultants
The job of a healthcare business consultant is to improve business productivity, increase revenue, and provide business-related support and guidance to healthcare providers. The consultants must hold specialization in one or more areas of medical business management. Business consultants can either work independently or become members of a consulting firm.
11. Legal and regulatory medical consultancy services
Legal and regulatory affair consultants are an integral part of healthcare consulting services, several companies hire legal consultants to offset any potential legal or regulatory issue. Consultants help organizations adhere to shifting legal regulations within a given locality, state, as well as federal law.
12. Behavioral health consulting
A behavioral consultant is a person who specializes in working with patients to address and improve behavior issues. Major duties of such a person include assessing each patient’s mental health, assessing the patient’s developmental needs, etc. They also create a treatment plan for the patient’s to reduce negative behavior and promote positive choice.
13. Health policy consulting analyst
Health policy analysts are professionals who assess existing healthcare programs and delivery policies in an organization. They recommend and help in designing new legislation to improve access to healthcare, reduce wait times, and lower the cost. Healthcare policy analysts generally works for think tanks, non-profits, or community groups.
14. Medical records consultant
The world of medical record-keeping is essential to delivering quality health care to patients. Medical records consultants help organizations keep company medical databases and registries in an organized format. They recommend efficient ways of documenting and reviewing patient health information, including histories, symptoms, and exam results.
15. Hospital consultant
A consultant is a senior doctor that holds specialization in a particular area of medicine and is listed on GMC’s specialist register. They are responsible for managing hospital staff along with carrying out clinical responsibilities and administrative responsibilities. After one has graduated, it takes six to eight years to become a hospital consultant.
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How to get into healthcare consulting?
To get into healthcare consulting, one needs to have a thorough understanding of both the business world and the healthcare industry. A bachelor’s degree, certification, relevant experience are some of the criteria required to become a healthcare consultant. Here are 5 steps to guide you through,
1. Bachelor’s degree is the first step of how to be a healthcare consultant
The first step for people wondering how to be a healthcare consultant is to get a bachelor’s degree in healthcare practice management. Through the course of the degree, the student can expand their knowledge of the healthcare industry and its inner workings.
2. Earn a Master’s degree for a better health consulting job
Earning a master’s degree is not necessary but few employers might ask for an advanced degree for certain healthcare consultant positions. Having a master’s degree also helps you get ahead of the competition and further hone your skills and knowledge base.
3. Get certification relevant to healthcare consulting careers
Candidates may choose to increase their chances of getting hired by pursuing licensing and certification in the healthcare consulting field. Organizations such as the National Association of Healthcare Business Consultants offer several certification programs. Getting the certification is not mandatory but can help consultants build their profiles.
4. Build on-the-job experience in a medical consulting company
The most important step to get into healthcare consulting involves getting on-the-job experience in the relevant industry. For higher roles, many companies require candidates with related work experience in either an administrative or clinical capacity. Students can get an internship to gain industry experience.
5. Develop skills as a medical management consultant
Healthcare consultant can hone their skill set to succeed in the healthcare consulting business. Few key skills that are vital to a consultant’s success include analytical skills, attention to detail, verbal and written communications skills, interpersonal skills, organization skills, interpretation skills, etc.
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Healthcare consultant certification
While gaining a certification in healthcare consultancy is not mandatory, many professionals pursue certifications to distinguish themselves from others and showcase a commitment to continued education. Here are the two certifications that can help spruce up your consultant profile,
1. Certified Healthcare Business Consultant
CHBC certification is offered by the National Society of Certified Healthcare Business Consultants (NSCHBC) for seasoned professionals. To qualify, candidates have to first become a member of NSCHBC and clear a four-hour certification exam.
2. Certified Management Consultant
CMC is offered by the Institute of Management Consultants. The eligibility criteria entail three years of management consulting experience.
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Healthcare consulting salary
Healthcare consulting salary in the United States is an average of $85,119 per year or $40.92 per hour. The salary depends on plenty of factors including years of experience in the relevant field, job location, education, certifications, knowledge, skillset, etc.
People who are on the lower spectrum of healthcare consulting, the bottom 10%, earn roughly $66,000 per year, while the top 10% make $109,000 per year. Healthcare consultants make the most in San Francisco, averaging total compensation 40% greater than the US average. 100% of people reported that they receive a yearly bonus.
Megha is a content writer with sharp technical skills, owing to her past experience in networking and telecom domains. She focuses on various topics including productivity, remote work, people management, technology, market trends, and workspace collaboration.
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