The 2022 Fastest Growing Firms: Impact Advisors, LLC

Number of Billable Consultants: 607

Client Industries Served: Health Care

Consulting Service Lines: Strategy & Operations, IT Advisory, EHR Implementation & Support, ERP Implementation

Website URL: www.impact-advisors.com

Impact Advisors is a nationally recognized health care consulting firm delivering strategic advisory, technology implementation and performance improvement services. Our suite of digital health, clinical optimization and revenue cycle services spans the lifecycle of our clients' needs. Our team has a powerful combination of clinical, revenue, operations, consulting and IT experience.

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

Smith: 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 excellent work but drives value for our clients. We continue to have a 100% referenceable client list and receive high ratings from KLAS, an independent research firm gathering client satisfaction data in the health care space. Our 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 health care provider market. This has enabled Impact Advisors to offer a full breadth of capabilities to solve the many challenges our clients face.

Finally, our culture is a differentiator that allows us to recruit and retain top talent who are committed to our mission of "Creating a Positive Impact" for our health care clients. Our associates bring our clients an average of 20 years of industry experience. We've received many "Best Workplace" awards that confirm our commitment to our people.

Consulting: How would you say you've managed to maintain growth during the unprecedented past three years?

Smith: Despite COVID limiting travel to our health care clients in 2020 and 2021, we were able to still able to deliver high-quality work on behalf of our clients in a virtual environment. We completed many large engagements, like EHR implementations, either fully or mostly virtual over the past few years. Our teams were able to quickly shift to collaborating with our clients without the benefit of face-to-face meetings and work groups. Additionally, we continued to provide consultation to our clients that helped them manage through these difficult years. For example, how to effectively utilize telehealth solutions as a way to reach and care for their patients.

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

Smith: Impact Advisors continues to grow in 2022. Because of our strong client relationships and expanded capabilities, we have and will continue to grow our business and revenue relative to last year. We are continuing to invest in new service offerings, associates and opportunities that will position us for a strong 2022 and beyond. As a firm, we have pivoted from an implementation firm to a business transformation firm and our success is indicated by the growth in our new service lines. We increased our revenue by 43% from 2020 ($80.8M) to 2021 ($115.7M) and are anticipating double-digit growth again this year.

Consulting: How would you describe your firm's outlook for 2023? Where do you see the most opportunities?

Smith: We believe 2023 will be very strong for our firm. The largest opportunities will come from strategic and tactical initiatives that drive value and help our health care provider clients improve margins through solutions that increase top-line growth, efficiency and capital/cash. Our point of view is that by optimizing the application and use of technology and analytics within operations, we can drive value for our clients that is sustainable, scalable and impactful. Engagements related to revenue improvement and Revenue Cycle Management, and clinical process, labor, and supply chain improvement and optimization will lead the way. The ongoing implementation and optimization of ERP platforms 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 2023?

Smith: Our largest challenge will continue to lie with finding versatile associates that can play multiple roles across various performance improvement and technology-enabled initiatives. Our consultants serve as solution architects who can understand and identify opportunities related to how our integrated solution offerings can best be delivered to help our clients meet organizational goals. Additionally, health care providers will continue to be under significant financial pressure in 2023 and demonstrating how investing in our solutions will produce a positive ROI and value will be key.

Consulting: What does being named one of Consulting's Fastest Growing Firms mean to your firm, your employees and your clients?

Smith: 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 and deliver 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.