Profile: Huron Consulting Group Inc (HURN.O)
7 Mar 2014
Huron Consulting Group Inc. (Huron). Incorporated on March 19, 2002, is a provider of operational and financial consulting services. The Company provides consulting services to a range of organizations, including healthcare organizations, academic institutions, governmental entities, Fortune 500 companies, medium-sized businesses, and the law firms. The Company operates in three segments: Health and Education Consulting, Legal Consulting and Financial Consulting. During the year ended December 31, 2012, the Company derived 66.9%, 29.6% and 3.5% of its revenues from Health and Education Consulting, Legal Consulting and Financial Consulting, respectively. The Company operates in Atlanta, Georgia; Boston, Massachusetts; Houston, Texas; London, United Kingdom; New York, New York; Portland, Oregon; San Diego, California, and Washington, D.C. In January 2014, the Company announced that it has completed the acquisition of The Frankel Group Associates LLC, a life sciences consulting firm.
Health and Education Consulting
The Company’s Health and Education Consulting segment provides consulting services to hospitals, health systems, physicians, managed care organizations, academic medical centers, colleges, universities, and pharmaceutical and medical device manufacturers. This segment’s professionals develop and implement solutions to help clients address challenges relating to financial management, strategy, operational and organizational effectiveness, research administration, and regulatory compliance. This segment also provides consulting services related to hospital or healthcare organization performance improvement, revenue cycle improvement, turnarounds, merger or affiliation strategies, labor productivity, non-labor cost management, information technology, patient flow improvement, physician practice management, interim management, clinical quality and medical management, and governance and board development.
The Company’s Health and Education Consulting segment’s practices include healthcare, higher education and life sciences. Huron’s healthcare practice provides solutions for hospitals, health systems and academic medical centers. The Company provides service offerings in every aspect of higher education and healthcare administration. The Company serves research universities, academic medical centers, colleges and universities, research institutions and international organizations. The Company’s primary service areas include financial management and strategy, resource optimization, strategic sourcing and procurement transformation, performance improvement, interim staffing support, information technology planning and integration, risk management and regulatory compliance, research administration and technology supporting research administration, and global health and education.
The Company’s life sciences services to pharmaceutical and medical device companies include government price reporting and commercial contracting, corporate integrity agreements, medical affairs and clinical activities, regulatory and compliance services, off-label communication, sales and marketing compliance, and state reporting and aggregate spend. This practice also specializes in clinical research operational assessments, including clinical research billing and human research protections compliance, conflicts of interest, and other related research services.
The Company’s Legal Consulting segment provides advisory and business services. It focuses on strategic and management consulting, cost management, and technology and information management, including matter management, records, document review and discovery services. Included in this segment’s offerings is its Integrated Analytics solution. This segment’s services include legal advisory business and discovery and records management. It provides strategic advice to help legal departments and law firms improve their organizational design and business processes, and to help management in their use of outside counsel.
The Company works with corporations and law firms to provide solutions to enhance their discovery process management and electronic discovery needs. It provides a range of digital evidence, discovery, and records management services that include discovery process execution, electronic discovery services, computer forensics, data management, document processing, document review, records program development, records improvement planning and process, and program management.
The Company’s financial consulting segment provides financial advisory, interim management and operational consulting services to companies, including companies in transition, creditor constituencies, and other stakeholders in connection with out-of-court restructurings and bankruptcy proceedings. For companies in financial distress, it works with management to assess the viability of their business, to develop and implement a turnaround plan to improve cash flow, and to implement a debt-restructuring plan to improve the balance sheet. In some instances, it serves in interim management roles. It also provide claims management services to help companies process and analyze complex and voluminous claims filed in bankruptcies and related litigation matters. It has an array of services that are responsive to event- and transaction-based needs across industries. Its clients are in a range of industries, including healthcare, education, professional services, pharmaceutical, technology, transportation services, telecommunications, financial services, electronics, consumer products, governmental, energy and utilities and industrial manufacturing.
Huron Consulting Group Inc
550 W. Van Buren Street
CHICAGO IL 60607