KPMG LLP: Developing a Deeper Understanding of the Client and the CIO Agenda

Vince Vickers, Principal, Advisory Services
CIOs are under incredible pressure in the health care industry as the result of significant investments in IT, as well the need to improve business performance and protect patient data from increasingly sophisticated hackers. Users are dissatisfied with electronic health record (EHR) performance and the usability of new technologies implemented as a result of the HITECH Act (Health Information Technology for Economic and Clinical Health Act), while balancing the need to find greater efficiencies in delivering care. Many health care systems are struggling to find a services provider with the scale and breadth of advisory services that they need. KPMG LLP – an audit, tax and advisory firm – works to help today’s health care CIOs find innovative solutions, comply with evolving regulations, leverage analytics to improve performance, and support business model changes.

KPMG focuses on five areas to support the CIO agenda: optimizing core operations, protecting the enterprise, enabling connectivity, supporting business change, and providing insights from data & analytics. “This encompasses a broad spectrum of services – from cybersecurity to optimizing the client’s EHR environments and helping them with M&A or (divestitures),” says Liam Walsh, Advisory Leader, Healthcare & Life Sciences, KPMG. “One of the biggest issues is extracting information out of the client’s system, and helping them leverage that information to run the business effectively.”upgrade technology and offer guidance about overall business strategy,” Walsh says. Changing regulations and development of new business models in health care & life sciences have expanded KPMG’s advisory business to be bigger than the audit business in the U.S. Now when health care systems want to expand services by acquiring physician networks or establishing health care plans, KPMG helps them balance the risks, understand regulations and leverage analytics associated with these business decisions.

“One of the biggest issues in the healthcare space is cybersecurity,and this is an area of strength for KPMG” says Vince Vickers, Principal, Advisory Services, KPMG. “We do a great deal of tax and advisory work, but our firm has evolved to delve further into helping companies improve operations, For example, a large health care provider had its Personal Identifiable Information (PII) server breached, leading to compromised credit card information.
KPMG was at the client’s location within 24 hours to oversee the investigation, analyze the data breach and provide a remediation plan. After KPMG’s efforts, the provider established HIPAA-compliant mobile safeguards and a centralized information governance system to manage communications with various authentication security measures. In addition, the firm helped the provider improve staff training to ensure compliance.

Enhanced EHRs have created substantial opportunities to find efficiencies and improve the quality of medical care, but organizations need to make the most of the data captured within them.



In this industry, CIOs face too many challenges to settle for an organization that simply says ‘I’ll come in with my Epic team and relook at your processes.



“In this industry, CIOs face too many challenges to settle for an organization that simply says ‘I’ll come in with my Epic team and examine your processes.’ They need a rich set of EHR capabilities and, a broader business perspective that KPMG is able to provide,” Vickers says. KPMG has significantly invested in its advisory business, acquiring companies such as Zanett Commercial Solutions, and Beacon Partners, which have bolstered KPMG’s enterprise and clinical solution capabilities for healthcare providers. Investments in Link Analytics and Cynergy have broadened KPMG’s capabilities in data & analytics and web-based technologies. KPMG is continuing to invest in capabilities to bring clients end-to-end solutions and insights to transform their business and how the U.S. delivers healthcare.

Company
KPMG LLP

Headquarters
New York, NY

Management
Vince Vickers, Principal, Advisory Services

Description
KPMG is a global network of professional firms providing Audit, Tax and Advisory services.