67 WALL STREET, New York - October 24, 2012 - The Wall Street Transcript has just published its Health Care IT Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Electronic Health Record Adoption - HIT Consolidation Activity - Platform Interoperability and Data Analytics - Analytics for Evidence-Based Care Protocols - Electronic Health Records Implementation - HITECH Act Incentives - Affordable Care Act
Companies include: Accenture Ltd. (ACN) and many others.
In the following excerpt from the Health Care IT Report, the managing director for Accenture's North American Health Industry division discusses the outlook for his company for investors:
TWST: Would you begin by telling us about what Accenture offers in the health care space?
Dr. Safavi: We offer consulting as well technology and outsourcing - our three traditional Accenture capabilities - tailored for the health care market. We have created a series of business services, basically combinations of our traditional horizontal Accenture capabilities, to be useful for health care markets.
We think about our markets as the delivery system market providers, typically large hospitals, along with the payer markets, health plans and government - both state and federal. There are a lot of stakeholders and a lot of dimension to our offerings.
We have five principal categories. The first is health administration, essentially health care financing actions, from claims departments at insurance companies to providers and networks. We have housed some of our new growth there. Also under health administration, we're in the state health insurance exchange business. We recently announced we are going to build and operate the State of California's health insurance exchange, which will cover one out of five Americans affected by the Affordable Care Act. We are a new entrant in the state Medicaid business. We are rebuilding the Medicaid management information systems in Iowa.
The second major category for us is health management, such as care coordination and disease management, for groups such as health plans, providers, and accountable care organizations. We design programs around care coordination, drug adherence, etc., all the way to a global delivery center for clinical people to provide care management services, using our care management programs or their own. For example, a large insurance company now relies on our clinically trained call centers, with nurses in the Philippines and India, to do care management, prior authorizations and some of its disease management programs. In that case, it's the customer client protocol and their information technology, but it's our people and our processes. So that's an example of the care management area.
The third big area is connected health, where we've had some very large implementations of personal health records and/or electronic health records on a countrywide or statewide basis. There, we also focus on helping private enterprises build private information exchanges or create interoperability among their disparate information technology systems, which are obviously big areas in health care.
Our fourth focus is clinical services or clinical solutions, which is primarily focused on providers implementing clinical information systems, such as electronic medical records. We do everything from implementation, all the way to process improvement and standardizing care processes around clinical practices. For example, we're one of the largest implementers of the Epic System, which is a hospital electronic medical record technology.
Our last area is our back-office or corporate functions. These are the traditional Accenture horizontal capabilities - finance and accounting, supply chain, HR. We have these capabilities across industries, and we also tailor them for health care. These tools are used by hospitals, health plans and the public sector.
TWST: What's the competitive landscape like for Accenture in the health care space, and what does the company see as maybe one or two of its key competitive advantages?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
- Health Care
- Electronic Health Records