About Huron Consulting Group
Huron Consulting Group Inc. (Huron) operates as a global professional services company. The company partners with clients to develop growth strategies, optimize operations and accelerate digital transformation, including using an enterprise portfolio of technology, data and analytics solutions, to empower clients to own their future. The company operates both domestically and internationally, including in Canada, Europe, Asia and the Middle East. The company derives a significant portion of the company’s revenue from clients in the healthcare and education industries. Strategy The combination of the company’s deep industry expertise and breadth of its offerings is the foundation of its growth strategy and why the company’s clients choose Huron as their trusted advisor. Key focus areas of the company’s growth strategy include accelerating growth in healthcare and education; growing presence in commercial industries; rapidly growing global digital capability; and solid foundation for margin expansion. Services and Products The company provides its services and products and manages its business under three operating segments: Healthcare, Education, and Commercial, which align the company’s business by industry. The Commercial segment includes all industries outside of healthcare and education, including, but not limited to, financial services and energy and utilities. The company also provides revenue reporting across two principal capabilities: i) Consulting and Managed Services and ii) Digital, which are methods by which the company delivers its services and products. Operating Industries For the year ended December 31, 2023, the company derived 49%, 32% and 19% of its consolidated revenues from the company’s Healthcare, Education and Commercial operating segments, respectively. Healthcare The company’s Healthcare segment serves acute care providers, including national and regional health systems; academic health systems; community health systems; the federal health system; and public, children’s and critical access hospitals, and non-acute care providers, including physician practices and medical groups; payors; and long-term care or post-acute providers. The company’s healthcare-focused services and products include financial and operational performance improvement consulting, which spans revenue cycle, cost and care delivery transformation; digital offerings, spanning technology and analytic-related services, including enterprise health record (‘EHR’), enterprise resource planning (‘ERP’) and enterprise performance management (‘EPM’), customer relationship management (‘CRM’), data management and technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting. To best serve the company’s clients, the company continues to diversify its portfolio of offerings. For example, the company has broadened its capabilities beyond its leading profit and loss-focused offerings (e.g., revenue cycle and cost transformation) into offerings dedicated to optimizing the company’s clients' financial positions through financial advisory and transaction-related services; transforming care delivery models through virtual health, health equity and social determinants of health models; and evolving organizations by supporting change management and developing the next generation of leaders by applying the company’s best practices (e.g., revenue cycle leadership). Education The company’s Education segment serves public and private colleges and universities, research institutes and other education-related organizations. The company’s education and research-focused services and products include the company’s digital offerings, spanning technology and analytic-related services, including student information systems, ERP and EPM, CRM, data management and technology managed services and the company’s Huron Research Suite product suite (the leading software suite designed to facilitate and improve research administration service delivery and compliance); the company’s research-focused consulting and managed services; and the company’s strategy and operations consulting services, which span finance and accounting and operations to organization and talent strategy and student and academic strategy. The company continues to broaden its offerings into new areas. Most recently, the company expanded its research managed services, advancement, campus health and well-being, and athletics offerings. Commercial The company’s Commercial segment is focused on serving industries and organizations facing significant disruption and regulatory change by helping them adapt to rapidly changing environments and accelerate business transformation. The company’s Commercial professionals work primarily with six primary buyers: the chief executive officer, the chief financial officer, the chief strategy officer, the chief human resources officer, the chief operating officer, and organizational advisors, including lenders and law firms. The company has a deep focus on serving organizations in the financial services, energy and utilities, industrials and manufacturing industries and the public sector while opportunistically serving commercial industries more broadly, including professional and business services, life sciences, consumer products, and nonprofit. The company’s Commercial professionals use their deep industry, functional and technical expertise to deliver the company’s digital services and software products, financial advisory (special situation advisory and corporate finance advisory) services, and strategy and innovation consulting services. Capabilities Within each of the company’s operating segments, the company provides its offerings under two principal capabilities: i) Consulting and Managed Services and ii) Digital. Consulting and Managed Services The company’s Consulting and Managed Services capabilities represent its management consulting services, managed services (excluding technology-related managed services) and outsourcing services delivered across industries. The company’s Consulting and Managed Services experts help its clients address a variety of strategic, operational, financial, people and organizational-related challenges. These services are often combined with technology, analytic and data-driven solutions powered by the company’s Digital capability to support long-term relationships with the company’s clients and drive lasting impact. Examples include the areas of revenue cycle management and research administration managed services and outsourcing at the company’s healthcare and education and research-focused clients, where the company’s projects are often coupled with the company’s digital services and product offerings and management consulting services to sustain improved performance. Digital The company’s Digital capabilities represent its technology and analytics services, including technology-related managed services and software products delivered across industries. The company’s Digital experts help clients address a variety of business challenges, including but not limited to, designing and implementing technologies to accelerate transformation, facilitate data-driven decision making and improve customer and employee experiences. The company has invested organically and inorganically to expand its Digital offerings, which now span beyond traditional ERP implementations into a broader set of administrative systems, industry-specific systems of record and systems of engagement that act as the ‘digital front door’ to an organization. The company also has grown its data, analytics and automation offerings to deliver a unified and actionable technology ecosystem for the company’s clients. The company has expanded its ecosystem to work with more than 25 technology partners. The company is a Leading Modern Oracle Network Partner; a Summit-level consulting partner with Salesforce.com and a Premium Partner with Salesforce.org; a Workday Services, Preferred Channel, Extend, and Application Management Services Partner; an Amazon Web Services consulting partner; an Informatica Platinum Partner; an SAP Concur implementation partner; and a Boomi Elite Partner. The company has also grown its proprietary software product portfolio to address the company’s clients' challenges with solutions that expand its base of recurring revenue and further differentiate the company’s consulting, digital and managed services offerings. The company’s product portfolio bundles its deep industry expertise and unique intellectual property together to serve the company’s clients outside of its traditional consulting offerings. The company’s product portfolio includes, among others: Huron Research Suite, the leading software suite designed to facilitate and improve research administration service delivery and compliance; Huron Intelligence Rounding, the #1 ranked Digital Rounding solution in the 2023 Best in KLAS report; and Huron Intelligence Analytic Suite in Healthcare, a predictive analytics suite to improve care delivery. Clients and Industries The company provides services to both financially sound organizations and organizations in transition across industries, including healthcare, education, financial services, energy and utilities, industrials and manufacturing, public sector and other commercial industries. The company’s clients span hospitals, health systems and academic medical centers; colleges, universities and research institutes; banks, asset managers, insurance companies and private equity firms; oil and gas and utilities companies; manufacturing organizations; and the federal government. In 2023, the company served nearly 2,000 clients and the company’s 10 largest clients accounted for approximately 19% of the company’s consolidated revenues. History Huron Consulting Group Inc. was founded in 2002. The company was incorporated in 2002.
