Mid-Careerist Question
What personal characteristics and professional background are needed
to make a successful transition from managing in a health
services organization to becoming a management consultant?
In ACHE's Healthcare Executive Career Resource Center, we more
frequently encounter established professionals who seek a
transition from consulting to managing in a health services
organization than vice versa. Consultants are aptly nicknamed
"road warriors." If you are considering becoming
a consultant, be prepared to meet unpredictable travel demands
and possibly fluctuating compensation.
What attributes characterize a candidate likely to succeed as a
consultant? A consultant should possess a special combination
of competencies that frequently include the following:
- Unique, highly valued technical competence
- Superior capacity to multitask while filling varied roles
- Highly honed project management skills
- Excellence in establishing positive interpersonal relationships
- Entrepreneurial flair for acquiring and conducting consulting
engagements
Prospective consultants who already enjoy professional recognition and
visibility will enjoy definite advantages. You can earn a
respected reputation and well-connected standing in the healthcare
field by getting your publications and presentations in front
of potential consulting clients.
Consulting Organizations
If you do have the "right stuff" for consulting, making
a career change presents a variety of options and challenges,
including determining which type of consulting organization
best suits you. Even though consulting organizations vary
in their size and complexity, they must accomplish three basic
functions: grinding, minding, and finding.
- Grinding is the painstaking work of collecting
data, analyzing it, and turning it into meaningful information
for decision making.
- Minding is managing consulting assignments
so that tasks are accomplished in the proper sequence, accurately,
on time, and without exceeding budgeted resources.
- Finding involves securing consulting
engagements. Some engagements will be new relationships,
but business often builds from existing or earlier engagements.
Seemingly, the least complex organization would be the solo practice.
If you have a unique and marketable area of expertise, this
option might work for you. However, in this mode you must
grind, mind, and find—be all thing to all clients.
Healthcare mangers have made such transitions successfully.
One individual parlayed experience working with surgeons and
ophthalmologists into a specialized practice that launched
numerous joint venture ambulatory surgery and eye care surgical
centers. Although the firm had only one full-time consultant,
he did not work alone, nor did he rely solely on his past
experience. He rented office space and hired clerical staff.
He obtained health insurance coverage. And he quickly learned
how to realistically price services so he could profitably
cover his overhead expenses.
Starting a solo practice is not for everyone. The Member Directory
on the American Association of Healthcare Consultants Web
site (www.aahc.net)
reveals a variety of alternatives to the solo route. Examples
are independent partnerships; "boutique partnerships"
that are either idependent practices or divisions of larger
human services organizations; and divisions of large, international
financial services organizations. Most have unique practice
areas such as physician practice management, strategy, information
management and coding, construction management, and laboratory
and radiology management. Finally, there are also large, specialized
consulting firms with national and international practices.
To learn more about specialized consulting firms, go to WetFeet.com;
in the Company Profiles area for consulting, examine comparative
profiles for firms such as A.T. Kearney, Accenture, Bain &
Co., Booz Allen Hamilton, and Boston Consulting Group.
Lifestyle Adjustments
Consulting is a competitive business, both in terms of hiring and in
terms of securing business. On the career ladder for consulting,
research associates appear at the lowest rung. Next come entry-,
mid-, and senior-level consultants. At the top are junior
and senior partners. Compensation varies accordingly; therefore,
career transitions from a health services organization to
a consulting position may be difficult for established, mid-career
healthcare executives. Changing career tracks often requires
sacrificing existing salary in the short run. Unless you bring
to consulting both unique expertise and a "book of business,"
odds are that a salary offer—should you get one—will
have to be in line with the compensation of other "minder
role" consultants already in the firm. Even if you previously
were compensated at a senior executive level, you shouldn't
expect principal- or partner-level compensation in a consulting
firm since you have not yet learned the business.
Making the change from executive to consultant will likely demand
that you sacrifice status and compensation, at least in the
short run. Beforehand, you must be certain that you really
have a passion to consult and the skills and energy to succeed
in this field. Researchers with Multi-Health Systems investigated
the top emotional intelligence competencies that distinguish
the most successful management consultants from the least
successful. The top three attributes were assertiveness, emotional
self-awareness, and reality testing. Be sure that you are
emotionally aware of your motivations for pursuing a switch
to consulting. Deciding whether you can tolerate the changes
in lifestyle, status, and compensation is a reality test you
want to take before—rather than after—you change
careers.
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