Profile: Advisory Board Co (ABCO.O)
20 Jan 2017
The Advisory Board Company, incorporated on August 9, 2001, is a provider of software and solutions to the healthcare and higher education industries. The Company's healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle performance, clinical operations and supply chain management. Its education programs support colleges and universities in enrollment management; academic programming and student learning; faculty recruitment and retention; student advising and success; alumni affairs and advancement, and college and university operations. The Company offers distinct membership programs, across four areas, which include best practices research and insight, performance technology software, consulting and management services, and data- and tech-enabled services.
Best Practices Research and Insights Programs
The Company's best practices research and insight programs provide the foundation for all of its other programs. These programs are focused on understanding industry dynamics, identifying demonstrated management practices, evaluating widely followed but ineffective practices and analyzing emerging trends within the healthcare and education industries. Each program includes access to studies, executive education, databases and online services, and executive briefings. It designs each study and module to present the conclusions and supporting best practices in a graphical format, enabling the intended audience to assimilate 100 to 250 pages of research content. In addition to its research studies, it delivers an executive education curriculum based on its research to member institutions through approximately four channels, such as general membership meetings; presentations conducted on-site at member organizations; on-call access to experts and frequent teleconferences.
Across its research programs, it also offers a range of databases, cloud-based content and online tools and calculators for the utility of its research, facilitate analysis of an organization's current performance, and assist the adoption of best practices at member institutions. Each research program has a section on its password-protected member Website, accessible only to members of the program that includes such items as best practices, executive modules, online data, audit toolkits and market forecasting instruments. Through the Website, members of each program may search and access program-specific content, which includes the ability to access an electronic library of past and current research studies, review executive education modules, view meeting schedules and communicate with its staff and other members.
Performance Technology Software Programs
The Company's cloud-based business intelligence and software applications allow members to combine insights derived from its best practices research with its own operational and financial data to identify and assess opportunities. The software programs are renewable and address perennial problems in areas, in which it has developed its research programs. In healthcare, these include revenue cycle efficiency, assistance with physician management, supply and other cost optimization, throughput in the emergency department and surgical suites, utilization management, and workforce management and optimization. Through the combination of its research and access to the software, members gain insight into areas of opportunity for operational or financial improvement, receive best practices toolkits to capture the improvement, and directly use its resources to inform front-line decisions on an hourly, daily and weekly basis. Its programs allow members to transform their data into information they can use to enhance performance, enabling them to quantify areas of opportunity and identify value captured through use of its programs. Its performance technology membership model allows its members to benchmark themselves against each other.
Consulting and Management Services
Through its consulting and management services, it provides on-the-ground support for turnaround and performance improvement initiatives, as well as best practice, day-in-day-out professional management of areas of the hospital or medical group. It assists in approximately three primary ways, which include expert counsel, including business planning and strategy development; dedicated support, including interim senior management to oversee a specific change management process for a defined period and long-term management, involving a seasoned group of senior executives on-site for an extended period to provide hands-on, practical advice and execution against financial and operational goals. Its consulting engagements deliver insights and results on issues, such as value-based care and population health, clinical quality and care redesign, operational capacity and workforce efficiency, and revenue cycle optimization.
Data- and Tech-Enabled Services
The Company offers members data- and tech-enabled services as a means to deliver results when its best practices cannot be implemented directly by its members and their staff. The outsourced services are end-to-end and iterative by nature. Its data sets often include over one billion records or interactions and are constantly updated and enhanced. Its technology platforms are multi-faceted, allowing it to work with a range of members on a particular type of issue. The focus of its data- and tech-enabled services for its healthcare members is hospital and health system supply chain optimization and for its education members is student engagement and enrollment management.
Advisory Board Co
2445 M St NW
WASHINGTON DC 20037-1435