Cost Transformation Consulting

Health Catalyst’s Cost Transformation Consulting service uses a data-informed approach to evaluate your resource spend and identify the optimal pace, sequence, and type of changes necessary to achieve cost improvement. Flexible and tailored to the needs of your system, an engagement with our experts may include opportunity analysis, strategic planning, operational analysis, and support for implementation and change management.

The problem

To maintain balance with revenues, healthcare systems are increasingly pressured to manage costs. Selected and executed effectively, management interventions can succeed in containing costs while also delivering efficiencies that position organizations to succeed in a future of continued revenue decline. However, when they’re not carefully designed, cost-cutting strategies often prove unsustainable—and may even threaten the financial foundation of the organization.

Our approach

With extensive experience in healthcare finances, operations, and analytics, our team works side by side with you to deliver the insight and guidance you need to understand your resource spend, lower your costs, and preserve profits—without sacrificing clinical quality or patient experience. Our consultants can help you optimize your fixed costs, maximize return on your technology investment, and adopt the best practices of successful, forward-thinking organizations nationwide.

Benefits and components

• Access actionable insight in a flexible partnership. Tailored to the needs of your organization, an engagement with our consulting team may include one or more of these elements:
• Opportunity analysis. Discover variation and overspend and analyze their drivers.
• Strategic planning. Identify the optimal sequence and pace of change for cost improvement.
• Operational analysis. Dive into the data to discover opportunities to optimize labor productivity, supply costs, capacity management, and pricing strategy.
• Implementation and change management support.

Focus on building capability. From explaining the activity-based costing methodology to sharing nuances of cost modeling, our team is dedicated to boosting your ability to use data to implement management processes in harmony with your most important clinical, financial, and operational goals.