The healthcare sector has been undergoing extensive transformation to keep up the pace and meet modern expectations with a paradigm shift towards a patient-centric model. In the coming two decades, every aspect of healthcare will be digitally transformed—from patient experience to clinical operations, along with the necessary skills required to enable operating in a future-enabled healthcare environment.
With that said, healthcare leaders are compelled to ensure that the care delivery system is compliant with the direction of the future. They also check whether their services and operations are in alignment to support the healthcare service providers to tackle challenges and transform the way healthcare is delivered around the globe.
The primary goal of digital transformation in the healthcare industry is streamlining processes, harnessing data, or shaping entirely new ways of doing business, with a clear aim of uniting every part of the enterprise for an efficient day-to-day service delivery. This helps to optimize major workflow processes and compliances, along with managing patient health with cost-effective solutions.
Currently, clinics and hospitals have data coming in from varied sources such as electronic health records, lab results, insurance claims, medical devices, imaging, and more. With all of these sources, it’s possible to overlook important patient medical history data. Data aggregation tools such as KPMG Aggregation and Reporting Tool (KART) enables fast and informed patient-care decisions without having to worry about missing key information.
KPMG US is a company that envisions the possibility of healthcare transformation by offering a market-leading portfolio of services focused on embedding data science and digital technologies that helps its clients to achieve their desired goals. Equipped with leading strategies and blueprints for designing and executing better service delivery—to make sense of the volume of technological change, absorb and deliver the vast information available to health leaders in an easy-to-use way. As a leading provider of risk, financial and business advisory, tax and regulatory services, internal audit, and corporate governance, KPMG aims for a business world that is propelled by insights, transparency, innovation and excellence.
In an interview with Healthcare Everything, Ash Shehata, the National Healthcare and Life Sciences Leader, explains how KPMG US is a suitable support factor in enabling healthcare organizations to create a seamless connection and meet future outcomes efficiently.
Below are the highlights of the interview.
Kindly brief us about KPMG Healthcare in the US.
KPMG helps organizations across the healthcare and life sciences ecosystem to work together in new ways to transform and innovate the industry.
We offer a market-leading portfolio of services focused on embedding data science and digital technologies throughout the business—to enable patient-centric approaches and personalization, drive greater business portfolio segmentation to enable wide-scale customer centricity, enable enhanced connectivity and performance transparency within business portfolios from front to middle to back office, manage risk and comply with regulations, and create strategic, differentiated pricing to succeed in a world of personalized healthcare solutions.
What inspired you to venture into the healthcare sector?
I grew up in a family with several of our family members who were already in the medical field. This enabled me to experience first-hand the positive impact that can be made, and that healthcare is a higher-purpose industry. I then pursued my master’s and did my research thesis on health equity before it was headline news, as I truly believe that Healthcare access should be universal. I started my career at the University of Cincinnati Medical Center, and after various industry and technology roles, I came to KPMG.
Shed some light on your journey as the guiding light of the company. How does your presence play an important role in the growth of the company?
I’ve touched upon the fact that healthcare is a higher-purpose industry, and that is what inspires me to lead this sector at KPMG. It’s energizing for me and our teams to come to work each day with that underlying sense of purpose and fulfillment.
Healthcare comprises a fifth of the U.S. GDP. Thus, we have an opportunity to help healthcare organizations transform to provide greater healthcare access, leverage innovation, technology and data insights to drive greater efficiencies and deliver an overall better patient and member experience.
Can you elaborate upon the core values, mission, and vision on which KPMG US is built?
We recently celebrated 125 years as a Big Four firm with a strong brand, commitment to excellence, and subscribing to and living out our values daily, which are:
- Integrity: We do what is right.
- Excellence: We never stop learning and improving.
- Courage: We think and act boldly.
- Together: We respect each other and draw strength from our differences.
- For Better: We do what matters.
What are the core products and services that your company has to offer? In what way do they serve the target population? How are these different from other forms of assistance that healthcare clients receive?
We offer services across consulting, risk management, regulatory compliance, transactions, tax and audit. We often work with alliance partners to solve some of our clients’ most complex business challenges across the front, middle and back offices of the enterprise. We create unique IP through our Lighthouse signals repository as well as our Ignition Centers, and Innovation Labs. We work shoulder-to-shoulder with our clients and operate as trusted advisors committed to their success.
What is your opinion are the areas that the healthcare clients need the most help or support with? How does your company offer personalized solutions to them?
KPMG is a Big Four firm aligning resources across audit, tax and advisory. Its key services in Healthcare and Life Sciences span across these functions. We continue to make organic and inorganic investments to stay ahead of the fast-paced, innovative market and help our clients with leading practices.
What operations and procedures does the company find to be essential when supporting healthcare clients?
Having a vision of how organizations need to transform across the front, middle and back offices with Powered, Connected and Trusted methodologies is what drives us forward. We also leverage Global and various CEOs such as Advisory Insights, Corporate Assets, Ignition, Insights Centers, and Innovation Labs.
What endeavours is KPMG US currently pursuing to improve its measures and best serve your clients?
We leverage programs such as Exceptional Audit and Voice of the Customer, industry analyst recognition, thought leadership, industry symposiums, national conferences, membership affiliations, and KPMG Lakehouse.
What advice would you like to give to budding entrepreneurs and enthusiasts who desire to venture into healthcare consulting?
Healthcare is a higher-purpose industry offering leading technology, financial planning, M&A, operational effectiveness, risk management, regulatory compliance, tax, and audit capabilities. I think this is a once-in-a-generation type of opportunity to help healthcare organizations transform and offer the right care at the right time, in the right way, and in a more personalized, customized and cost-effective manner.
How do you envision scaling your company’s services and operations in 2023 and beyond?
We established KPMG Lakehouse, representing an investment in our most valuable asset and the biggest point of pride, i.e., our people. KPMG Lakehouse is a purpose-built, state-of-the-art learning and innovation center, reflecting our rich 125-year history while bringing in new diversity of thought, perspectives, and backgrounds with each learner who comes through the doors.
We have Ignition Centers with specialized teams that think and work differently to produce results for our clients. Ignition helps clients see beyond the now, sensing opportunities and possibilities for newer, faster, and better outcomes for their business. We also have Innovation labs that provide insights on signals of change so that clients can understand and plan for what’s coming around the corner.
Recognition as a Leader
KPMG US is awarded and identified as a leader across many key analysts’ reports that affect clients’ most pressing business challenges. Below are some of these:
- Leader in Asia Pacific Professional Security Services 2022 Vendor Assessment
- Leader in Canadian AI Services 2022 Vendor Assessment
- Ranked number one among risk advisory firms by clients
- Named as M&A Innovator in ALM Intelligence Pacesetter Research
- Named a Pacesetter Leader in Cyber Security in ALM Intelligence Pacesetter Research
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