Excellence in Healthcare
Derek Bang is Chief Strategy & Innovation Officer and Healthcare Performance Services Leader for Crowe Horwath. In this role, he is responsible for assisting the CEO with developing, communicating and executing the firm’s strategic initiatives as well as maintaining responsibility for innovation and new solution development.
He is tasked with developing an innovation-driven culture throughout the firm and to oversee the firm’s Value Creation fund, which supports the development and marketing of new solutions. To that end, Bang says he is most proud of the new ground he and his team are breaking at Crowe.
“We now have three patents on healthcare solutions and have several other new solutions launching, which is really fun,” he says. “We have an incredible client base that actively innovates with us, and that makes it really fun to come to work every day.”
Immersing himself in those clients’ issues to understand their critical pain points and to develop technology-based solutions is the key to his success, he says. “Healthcare and other highly regulated industries have very complex problems and it takes years of developing deep industry insight and an understanding of technology applications to create solutions that are differential,” Bang says. “I enjoy helping people and solving their problems, which may explain my attraction to the healthcare industries. In other countries, physician specialists are termed ‘consultants,’ and I often feel like I am a sort of specialized doctor that clients seek for their ailments.”
Bang is also the leader of Crowe’s Healthcare Advisory Services practice, which works with many of the largest health systems across the United States in the areas of revenue management, operational management, and risk management, with a focus on combining deep industry knowledge, process expertise, and applied technology.
He was also responsible for the development of Crowe Revenue Cycle Analytics, which is a patent-pending benchmarking application that is used by some of the largest health systems in the U.S. for analyzing and forecasting net patient service revenue.
“Most benchmarking solutions are survey-based and stale, so we have again created something new and innovative for the healthcare industry and the reception has been overwhelmingly positive,” Bang says. “I started my career as an auditor and never viewed myself as innovative or creative. To have developed a patented software solution, Crowe Revenue Cycle Analytics, that is being used by more than 700 hospitals nationally, is beyond anything I ever imagined, much less growing Crowe’s healthcare consulting practice into one of the largest in the country.”
All of it has lead to this award that’s “wonderful validation of the hard work by my team at Crowe” Bang says. “The award is really due to them—while I have been leading the charge, their belief in my vision and their willingness to invest their time and resources has been incredible.”
What do you enjoy most about the consulting profession?
“The people. I try to surround myself with great people that bring a diversity of thinking and talents, which I have found to be the key to innovation. The consulting profession allows us to get a broad perspective into systemic client problems, and working with a diverse team enables us to come up with unique solutions.”