KPMG LLP has significantly bolstered its healthcare consulting division through the acquisition of Beacon Partners, Inc., a well-regarded firm specializing in strategic management and clinical and information technology consulting within the healthcare sector. The agreement, announced on April 12, 2015, marks KPMG’s ninth acquisition in just seventeen months, underscoring its commitment to expanding its service offerings and industry expertise.
Beacon Partners, recognized nationally for its deep industry knowledge, serves a diverse clientele across the healthcare provider landscape. Ranked 15th by Modern Healthcare among top healthcare consulting firms, Beacon Partners brings to KPMG a team of highly credentialed consultants with extensive experience in core healthcare business applications and Electronic Health Records (EHR) systems. This influx of talent is set to enhance KPMG’s Operations Improvement team, adding significant depth to its capabilities in revenue cycle management, performance enhancement, clinical process optimization, business planning, ACO development, and data analytics.
John Veihmeyer, Global Chairman of KPMG, emphasized the strategic importance of this acquisition, stating, “Healthcare stands out as a high-potential market opportunity for our firm. The healthcare industry is undergoing rapid and significant transformation, driven by increasing regulations, technological advancements, and the widespread adoption of innovative business and operational models. These factors are fueling demand for our services, and this acquisition strategically positions KPMG to strengthen its leadership in this critical sector.”
Ralph Fargnoli, President and CEO of Beacon Partners, also commented on the synergy between the two firms. “For over 26 years, Beacon Partners has been dedicated to providing comprehensive advisory services and specialized expertise in healthcare vendor systems. Our goal has always been to empower our clients to achieve improved operational, clinical, and financial outcomes,” Fargnoli explained. “Looking ahead, the healthcare industry faces a convergence of major initiatives, including ICD-10 implementation, Meaningful Use, Population Health Management, and heightened concerns around Privacy and Security, Revenue and Costs Management, and Analytics. The integration of Beacon Partners with KPMG offers our clients an even more robust suite of services and specialized knowledge. This enhanced support will be crucial as healthcare providers navigate the complexities of strategic planning and implementation in the coming years.”
Liam Walsh, U.S. Advisory Industry Leader, Healthcare & Life Sciences at KPMG, highlighted the compelling strategic rationale behind the acquisition. “The Beacon Partners team has established a strong presence and built deep relationships with hospital systems, academic medical centers, integrated delivery networks, and physician groups nationwide,” Walsh noted. He further elaborated on how this acquisition complements KPMG’s recent strategic moves: “Combined with our previous acquisitions of technology consulting firm Zanett Commercial Solutions and digital/mobile firm Cynergy Systems, the addition of Beacon Partners significantly strengthens the comprehensive transformation platform we are developing within the Healthcare IT market. We anticipate that this enhanced platform will generate further strategic opportunities and drive demand for our performance improvement, compliance, cyber security, and data and analytics services.”
This acquisition signals a significant step forward for KPMG in the healthcare consulting space, demonstrating a clear commitment to providing comprehensive and cutting-edge solutions to healthcare providers navigating an increasingly complex and evolving industry landscape.
About KPMG LLP
KPMG LLP is the U.S. member firm of KPMG International Cooperative (“KPMG International”), offering audit, tax and advisory services. KPMG International operates in 155 countries and has 162,000 professionals, including more than 9,000 partners, worldwide. For more information, visit www.kpmg.com/us.
About Beacon Partners
Beacon Partners is a leading healthcare management consulting firm recognized for its expertise in guiding healthcare organizations to improve operational, clinical, and financial performance through the strategic adoption of information technology. With a focus on strategic approaches and deep industry experience, Beacon Partners is uniquely positioned to assist organizations in overcoming healthcare challenges and maximizing their potential to deliver superior patient care.
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SOURCE KPMG LLP
