KPMG acquiring Beacon Partners
Acquisition boosts healthcare IT market for Big Four tax, audit and advisory firm
Photo of KPMG head office in Amstelveen, Netherlands from Wikipedia
KPMG LLP, the large audit, tax and advisory firm, is strengthening its position in the healthcare IT market by acquiring Beacon Partners. This marks KPMG's ninth acquisition in 17 months. KPMG recently acquired technology consulting firm Zanett Commercial Solutions and digital/mobile firm Cynergy Systems.
With the addition of Beacon, KPMG gains credentialed consultants in business applications and electronic health records systems, according to the company. The influx of personnel adds skills in operations, revenue cycle, performance improvement, clinical process improvement, business planning, ACO development, and analytics capabilities, it stated. Beacon, of Weymouth, Mass., uses information technology to improve providers' overall operational, clinical and financial performance.
The integration will give providers additional expertise as they navigate ICD-10, meaningful use, population health management, privacy and security, revenue and cost management and analytics, according to Ralph Fargnoli, president and CEO of Beacon Partners.
KPMG, a U.S. member firm of KPMG International Cooperative, announced April 12 it had entered into the agreement to substantially acquire all of the assets of Beacon.
"Healthcare is among our firm's strongest and most promising marketplace opportunities. As the healthcare industry experiences unprecedented transformation, with increased regulations, technological disruption, and wide scale adoption of new business and operating models driving demand for our services, this acquisition will strengthen KPMG's market position in this industry," Global KPMG Chairman John Veihmeyer said in a release.
