Impact Advisors: Healthcare Consulting Firm and Career Insights

Impact Advisors is a leading healthcare consulting firm known for helping hospitals and health systems enhance their technology, operations, and patient outcomes. Headquartered in Naperville, Illinois, Impact Advisors combines deep healthcare expertise with strong IT consulting capabilities to deliver measurable results. Whether you’re exploring Impact Advisors careers or simply wondering what the firm does, this guide will walk you through everything from its history and services to salaries, culture, and interview process.

TL;DR – What You Need to Know

Impact Advisors is a healthcare consulting firm that helps hospitals and health systems improve operations, implement technology, and enhance patient care outcomes.

• Founded in 2007, Impact Advisors focuses on healthcare IT, strategic advisory, and digital transformation services for hospitals and healthcare organizations.
• The firm offers two main service lines: Strategic Advisory & Operational Improvement and Technology Implementation, including Epic and ERP consulting.
• Impact Advisors careers feature clear progression from Analyst to Principal, supported by mentorship, professional development, and flexible work options.
• The interview process includes behavioral and technical rounds emphasizing healthcare knowledge, communication skills, and cultural fit.
• Employees highlight a supportive culture, competitive salaries, and meaningful work improving healthcare delivery across the United States.

What Is Impact Advisors and What Does the Firm Do?

Impact Advisors is a healthcare consulting firm that helps hospitals, health systems, and healthcare organizations improve operations, technology, and patient outcomes. Founded in 2007 and headquartered in Naperville, Illinois, Impact Advisors focuses on healthcare IT consulting, strategic advisory services, and digital transformation under the leadership of Todd Hollowell.

Impact Advisors was established with a clear mission: to make a measurable impact on healthcare through innovation and collaboration. The firm’s founders, Andy and Peter Smith, envisioned a company that would bring together technology expertise and a deep understanding of clinical operations to help healthcare organizations perform better.

The firm’s work spans a wide range of consulting domains, including healthcare IT implementation, data analytics, digital health solutions, and operational improvement. Its goal is to help clients streamline systems, enhance patient care, and achieve sustainable growth.

Impact Advisors takes pride in its people-first culture and results-driven approach. Rather than simply offering recommendations, the firm partners closely with clients to execute change and deliver measurable performance improvements.

Core areas where Impact Advisors operates include:

• Healthcare technology consulting: Supporting system implementations such as Epic and ERP platforms.
• Strategic and operational advisory: Helping organizations optimize revenue cycles, workforce efficiency, and process quality.
• Digital transformation: Guiding hospitals toward modern digital ecosystems that improve care coordination and patient engagement.
• Data and analytics: Enabling healthcare leaders to use insights for better decision-making and performance measurement.

The firm’s headquarters remain in Naperville, Illinois, but its reach extends across the United States through a largely remote workforce and nationwide client engagements. This model allows consultants to deliver specialized healthcare advisory services wherever clients operate.

By combining deep healthcare knowledge with strong technical capabilities, Impact Advisors has built a reputation as one of the most trusted names in healthcare IT and management consulting.

The History and Growth of Impact Advisors

Impact Advisors was founded in 2007 by brothers Andy and Peter Smith with a clear vision: to create a healthcare consulting firm that truly improves the quality and efficiency of patient care. The firm started in Naperville, Illinois, and quickly built a reputation for combining healthcare insight with strong IT expertise.

In its early years, Impact Advisors focused on helping hospitals modernize their information systems and implement digital health solutions. As healthcare technology evolved, the firm expanded into strategic advisory and operational improvement services, working with clients across the United States.

Over the past decade, Impact Advisors has experienced steady growth in both scale and recognition. The firm has consistently appeared on industry rankings for top healthcare consulting and best places to work. Its client base now includes some of the largest health systems and academic medical centers in the country.

Leadership has remained stable since inception. Todd Hollowell serves as Chief Executive Officer, continuing the founders’ mission to blend healthcare strategy with technology-driven transformation. This steady leadership has allowed the firm to maintain its original values while adapting to changing healthcare needs.

Today, Impact Advisors is recognized not only for its technical expertise but also for its ability to partner with clients as a trusted advisor. The firm’s evolution from a small regional consultancy to a nationally respected leader reflects its commitment to measurable results and lasting impact in healthcare delivery.

What Services and Practice Areas Does Impact Advisors Offer?

Impact Advisors offers a comprehensive range of consulting services divided into two main categories: Strategic Advisory & Operational Improvement and Technology Implementation. The firm’s goal is to help healthcare organizations optimize operations, strengthen performance, and implement technology solutions that enhance patient care.

Strategic Advisory & Operational Improvement Services include:

• Business strategy and growth planning
• Revenue cycle improvement
• Clinical process optimization and quality improvement
• Workforce and labor management
• Corporate and supply chain optimization
• ERP and infrastructure advisory services
• Value-based care and regulatory compliance consulting

Technology Implementation Services include:

• Selection and implementation of clinical and financial systems
• ERP program assurance and digital integration
• Epic Community Connect planning and implementation
• Epic managed services and staffing solutions

Impact Advisors’ healthcare IT consultants are known for their hands-on experience with major platforms such as Epic and Oracle ERP. By combining operational insight with system expertise, they help hospitals achieve smoother transitions and better technology adoption.

The firm also supports digital health initiatives, ranging from telehealth programs to patient engagement tools, that enable providers to deliver care more efficiently. Its growing focus on analytics and automation reflects a broader shift toward data-driven healthcare management.

Whether guiding leadership teams through a technology roadmap or optimizing on-the-ground operations, Impact Advisors positions itself as a long-term partner in improving healthcare delivery.

Industries and Clients Served by Impact Advisors

Impact Advisors serves clients exclusively within the healthcare industry, including hospitals, integrated delivery networks, and academic medical centers. The firm’s consulting services are tailored to meet the operational, financial, and technological challenges faced by these organizations.

Its client portfolio includes:

• Large hospital systems implementing electronic health records (EHR)
• Regional healthcare networks optimizing supply chains and workforce models
• Physician groups and clinics modernizing operations with digital tools
• Life sciences organizations seeking compliance and analytics support

This focused industry expertise allows Impact Advisors to deliver specialized insights that generalist consulting firms often lack. Consultants bring both clinical and technical backgrounds, enabling them to bridge the gap between IT systems and patient care outcomes.

The firm’s success is driven by its ability to adapt solutions to each client’s size, mission, and maturity level. Whether advising a local hospital or a multi-state health system, Impact Advisors emphasizes measurable impact and sustainable transformation.

What Is It Like to Work at Impact Advisors?

Working at Impact Advisors is often described as collaborative, flexible, and mission-driven. Employees cite a culture that values integrity, teamwork, and professional growth. The firm’s “people-first” mindset is reflected in its commitment to creating a supportive environment for consultants at all levels.

Impact Advisors offers a primarily remote work model, enabling employees to balance travel with flexibility. Consultants often work directly with client teams on-site during key project phases, then return to remote work for planning and analysis.

Highlights of the Impact Advisors culture include:

• Engaged and approachable leadership
• Continuous feedback and mentoring opportunities
• Recognition programs and annual company gatherings
• Emphasis on wellness and work-life balance

The firm also invests in professional development through training allowances, certifications, and knowledge-sharing programs. This approach ensures consultants can continue learning and evolving alongside industry changes.

While travel is a part of most roles, employees often emphasize the strong sense of connection and purpose they experience working with healthcare clients. For those passionate about improving healthcare systems through technology and strategy, Impact Advisors offers a rewarding career path.

Impact Advisors Career Path and Progression

At Impact Advisors, career growth follows a clear and structured path designed to support long-term development. Consultants typically begin as Analysts and advance through defined stages based on performance, leadership skills, and client impact. The firm emphasizes mentorship and continuous learning at every level.

The typical Impact Advisors career progression includes:

• Analyst: Entry-level consultants who support project research, data analysis, and client deliverables.
• Consultant: Lead specific workstreams, manage portions of client engagements, and contribute to implementation strategies.
• Senior Advisor: Oversee multiple projects, mentor junior consultants, and serve as subject matter experts in healthcare operations or IT systems.
• Principal: Drive business development, shape firm strategy, and maintain senior client relationships.

This transparent structure gives professionals clear milestones to aim for, with opportunities to specialize in areas such as digital transformation, ERP implementation, or operational excellence.

Impact Advisors places strong emphasis on professional development, offering certifications, leadership programs, and hands-on training in consulting and healthcare management. Employees are encouraged to pursue continuous improvement, both technically and interpersonally, through coaching and feedback.

Career advancement at the firm depends on measurable results and collaboration rather than tenure alone. High performers are often promoted early, reflecting Impact Advisors’ merit-based approach to growth.

For many consultants, this structure provides both stability and upward mobility, making Impact Advisors an attractive choice for those seeking a long-term consulting career in the healthcare sector.

How Much Do Consultants Earn at Impact Advisors?

Salaries at Impact Advisors are competitive within the healthcare consulting industry and reflect experience level, role, and project responsibility. Compensation packages include base pay, performance bonuses, and benefits focused on employee well-being.

Estimated base salary ranges by position:

• Analyst: Around $70,000 per year
• Consultant: Approximately $100,000 to $130,000 per year
• Senior Advisor: Roughly $160,000 to $180,000 per year
• Principal: Typically $250,000 or more, depending on client portfolio and leadership responsibilities

Beyond salary, Impact Advisors offers training stipends, flexible work arrangements, and profit-sharing options for senior professionals. These incentives encourage both personal growth and firm-wide success.

The firm’s compensation structure is performance-driven, rewarding those who deliver measurable results and contribute to client satisfaction. Consultants who demonstrate strong leadership and business development skills can progress quickly through higher pay brackets.

Compared to peers in healthcare technology consulting, Impact Advisors salaries are aligned with market averages, while offering additional benefits that promote work-life balance and career sustainability.

How Does the Impact Advisors Interview Process Work?

The Impact Advisors interview process typically consists of three main stages and focuses on both technical expertise and cultural fit. Candidates can expect a structured yet conversational experience that assesses consulting readiness and healthcare knowledge.

Typical interview stages include:

1. Recruiter screening call – Covers background, motivation, and availability.
2. Behavioral interviews (1 to 2 rounds) – Evaluate interpersonal skills, teamwork, and alignment with company values.
3. Final interviews – May include leadership discussions or case-style problem solving related to healthcare operations.

Most candidates complete the process within one to two months. While Impact Advisors interviews are not case-heavy, you should still prepare to discuss healthcare trends, digital health systems, and project experience.

Common questions include:

• Why do you want to work at Impact Advisors?
• How do you approach challenges in healthcare consulting?
• What are your long-term career goals?

Strong communication, client orientation, and adaptability are key traits the firm looks for. Candidates with experience in hospital operations, health IT, or data analytics tend to perform well.

Preparing thoughtfully for behavioral and technical questions can significantly improve your chances of success. Demonstrating genuine interest in improving healthcare outcomes will help you stand out from other applicants.

Career Development, Diversity, and Alumni Outcomes

Impact Advisors emphasizes long-term career development by fostering continuous learning, diversity, and community impact. The firm supports professional growth through structured mentorship, leadership training, and certification programs designed for healthcare and IT consulting professionals.

Employees are encouraged to pursue industry-recognized certifications in project management, Epic systems, and healthcare analytics. Mentorship is built into the culture, junior consultants receive guidance from senior leaders to refine both technical and interpersonal consulting skills.

Career development opportunities at Impact Advisors include:

• Annual training budgets and learning stipends
• Internal leadership academies and peer mentorship programs
• Cross-functional project exposure for broader experience
• Support for professional certifications and continuing education

While Impact Advisors is smaller than many global consulting firms, it actively promotes inclusion and diverse hiring. The firm’s teams bring together professionals from varied academic and cultural backgrounds to ensure a range of perspectives in client work.

Alumni from Impact Advisors often transition into leadership roles across the healthcare industry. Many move into hospital management, digital health startups, or other consulting firms specializing in healthcare transformation. This track record highlights the firm’s reputation for developing well-rounded consultants with both strategic and technical expertise.

Impact Advisors’ focus on mentorship and inclusion not only strengthens the employee experience but also contributes to its recognition as one of the most respected healthcare consulting firms in the U.S.

Is Impact Advisors a Good Company to Work For?

Impact Advisors is widely regarded as one of the best healthcare consulting firms to work for, thanks to its supportive culture, leadership transparency, and commitment to employee well-being. The firm consistently earns recognition in industry surveys and “Best Places to Work” lists for its people-first approach.

Consultants describe the environment as collaborative and mission-driven, with leadership that actively seeks employee feedback. The company invests in professional development and flexibility, making it an appealing choice for consultants who value both impact and balance.

Common advantages cited by employees include:

• Transparent leadership and open communication
• Strong mentorship culture and internal mobility
• Remote work flexibility and healthy travel policies
• Purpose-driven work focused on improving healthcare systems

However, travel remains part of most roles, which can challenge work-life balance. Still, many employees highlight the company’s efforts to provide wellness programs and flexible scheduling to offset travel demands.

Employee feedback across platforms often praises the firm’s sense of community, saying that people “feel valued, not replaceable.” This reputation helps Impact Advisors attract and retain top consulting talent passionate about healthcare improvement.

Overall, for consultants seeking meaningful work in healthcare transformation with supportive leadership, Impact Advisors offers a rewarding and stable environment.

Key Insights and Takeaways on Impact Advisors

Impact Advisors stands out as a specialized healthcare consulting firm that blends technology expertise with a deep understanding of clinical operations. Its mission-driven culture, transparent career path, and commitment to development make it a strong option for those pursuing healthcare consulting careers.

The firm’s focus on healthcare IT, digital transformation, and operational excellence has positioned it among the top performers in its niche. Consultants benefit from a supportive environment that values integrity, flexibility, and collaboration while driving meaningful outcomes for clients.

Key takeaways:

• Founded in 2007, headquartered in Naperville, Illinois
• Focuses exclusively on healthcare consulting and technology implementation
• Offers clear career progression and competitive salaries
• Maintains a strong reputation for culture, mentorship, and client impact

For candidates or professionals seeking a purpose-driven consulting career, Impact Advisors provides an opportunity to grow in a field that directly improves healthcare systems and patient care outcomes.

Frequently Asked Questions

Q: Who are Impact Advisors competitors?
A: Impact Advisors competitors include top healthcare consulting firms such as Deloitte, Accenture, PwC, and Chartis Group. These firms, like Impact Advisors, focus on healthcare IT consulting, digital transformation, and performance improvement for hospitals and health systems.

Q: Who owns Impact Advisors?
A: Impact Advisors is privately owned by its co-founders, Andy Smith and Peter Smith. The firm’s leadership continues to guide its growth in healthcare technology and management consulting.

Q: What is the mission statement of Impact Advisors?
A: The mission of Impact Advisors is to improve healthcare through technology, leadership, and operational excellence, helping organizations deliver better outcomes for patients and communities. This mission drives every aspect of Impact Advisors consulting work.

Q: How do I get into impact consulting?
A: To get into impact consulting, build strong analytical, communication, and problem-solving skills, and gain experience in strategy or healthcare. Exploring Impact Advisors internships or entry-level consulting roles is a great way to start a career in this field. 

Q: Who is the CEO of Impact Advisors?
A: The CEO of Impact Advisors is Peter Smith, who leads the firm’s strategy, culture, and client partnerships across its healthcare consulting practices.