The 2020 Fastest Growing Firms: Impact Advisors

Consulting: What were the main factors that contributed to your firm's exceptional growth?

Hollowell: Impact Advisors is continuously focused on delivering exceptional outcomes for our clients, and our unwavering commitment to quality delivery has established our brand, and therefore our team, as an organization that not only does good work but drives value for our clients. We continue to have a 100% reference-able client list. Those clients are one of the channels that help us find new partners to work with moving forward. Furthermore, our addition of key new leadership is allowing us to significantly expand our service offerings related to performance improvement and excellence within the healthcare provider market.

Consulting: How is this year shaping up for your firm?

Hollowell: Impact Advisors continues to grow in 2020, however the COVID-19 crisis has presented numerous challenges that will likely have some impact on our overall growth. Because of our strong client relationships, we have and will continue to grow our business and revenue relative to last year but likely less than our plans before COVID. We do, however, continue to invest in new service offerings, Associates and opportunities that will position us for a good 2020 and a strong future in 2021 and beyond. Our new service offerings include Performance Excellence, ERP, Telehealth, and Application Service Provider consulting services.

Consulting: How would you describe your firm's outlook for 2021? Where do you see the most opportunities?

Hollowell: We believe 2021 will be very strong for our Firm. The largest opportunities will come from those initiatives, strategic and tactical, that can drive value to help our healthcare provider clients meet ever-changing and, with the COVID-19 situation, even more challenging financial pressures. Our point of view is that by optimizing the application and use of technology and analytics, we can drive value for our clients that is sustainable, scalable and most impactful. Engagements related to cost savings, revenue improvement and Revenue Cycle Management, and clinical process improvement and optimization will lead the way. New technology and process investments, for example, telehealth and virtual care strategies and implementations will also be key initiatives for our clients. On-going implementation of core transaction systems, specifically ERP, will also be a significant growth opportunity as clients look to validate and/or modify their approaches to human capital and supply chain management.

Consulting: What would you say are your firm's biggest challenges in 2021?

Hollowell: Our largest challenge will continue to lie with finding very versatile Associates that can play multiple roles across various performance improvement and technology enabled initiatives. Our delivery model is based on having very strong consultants that have the ability to wear multiple hats across the project lifecycle – from higher level planning to Agile sprint management implementing new workflows to technology project management. Additionally, healthcare providers will continue to be under significant financial pressure in 2021, and value-based engagements will be prioritized.

Consulting: What does being named a Fastest Growing Firm mean to your firm, employees and clients?

Hollowell: Impact Advisors is always honored to be included in Consulting Magazine's recognition programs alongside such other strong organizations. This particular recognition confirms that we are continuing to do the right work with very high-quality outcomes for our client partners. It also reinforces that we continue to attract and retain the very best Associates in our industry, while still providing a culture-based environment in which they can practice their craft.