The 2020 Best Small Firms to Work For: Impact Advisors

Consulting Service Lines: Performance Excellence, Strategic Advisory, Implementation, Technical Services, Revenue Cycle

As a firm specializing in healthcare, Impact Advisors completely transformed its business model during the pandemic as it sought to create connections with both clients and associates in new ways. It achieved this by providing communication and confidence while remaining transparent about the reality of the market.

Impact Advisors President Andrew Smith says its associates both respected and embraced this leadership style. By setting the stage in this manner, the firm was able to ensure morale stayed high during a time of unprecedented challenge.

"Morale at Impact Advisors remains high, despite some of the significant shifts that have been necessary as we learn how to live in a new and more complicated world – one that requires us to focus more than ever on the safety and care of our associates and their extended families as we all adjust to an environment where Covid-19 has made (and continues to make) such a powerful impact on our day-to-day lives and ways of doing business," says Smith.

"As we look across the landscape of the healthcare industry as a whole, we are most grateful for the opportunities we have been given to do what we do best – create a positive Impact for our clients – and the patients they serve."

Communication took an especially prominent role at the height of the pandemic, where keeping workers informed about the rapidly changing situation on the ground became critical to ensure not just employee safety, but work continuity.

To this end, Impact Advisors began sending a daily newsletter firm-wide that included the latest CDC information about the spread of the virus, internal policy reminders and firm updates, tips on transitioning to work-from-home, and updates from benefits providers on special Covid-related support programs and new offerings.

"Per our normal standard, our constant focus is on the happiness of our associates and clients. From our annual associate retreat (which was not possible in 2020 due to travel restrictions associated with the pandemic) to the various special programs we have implemented such as our Culture Waves and Health Waves programs, our Happy Checks and VIP Calls, and many other tangible benefits we share, we celebrate a team spirit that is unparalleled in our industry," Smith says.

Like many companies on our Best Small Firms list, Impact Advisors has strived to seek out differentiating opportunities to come out of the ongoing crisis, particularly where it comes to better serving clients in a radically different environment than last year.

"We are excited about the opportunity to serve the market in new ways, with new services that are tightly aligned to our clients most immediate priorities. We also believe that the pandemic has accelerated many of the initiatives that should have been accomplished earlier. Our client base, and the industry will rebound, and ultimately be stronger as a result of this required transformation. We are excited about the opportunity to partner in our clients success," says Smith.

Consulting: What's the top priority over the next 6 to 12 months?

Smith: "Our top priority is to transform our service portfolio to serve the emerging demands of the COVID environment. Our healthcare clients are focused on improving their performance and reducing expense. We have architected services to help with these objectives, often making the consulting expense cost neutral.  We are investing in talent to serve these emerging requirements. Every crisis also presents opportunities. We have evolved to meet the challenges of the new environment."