Health Advances LLC is a management consulting firm offering strategic advisory services for clients in the healthcare industry. Founded in Boston, Health Advances LLC now has multiple offices spanning the globe.
Students and professionals looking to land a job at Health Advances – or anyone just wanting to learn about it – will find great value in this in-depth look at this healthcare-focused firm. You’ll get salary insights, an understanding of careers and the interview process, and a deep dive into the firm culture.
Table of Contents:
- Health Advances LLC Key Stats
- Health Advances LLC History
- Health Advances LLC Careers
- Health Advances LLC Practice Areas
- Health Advances LLC Industries
- Health Advances Office Locations
- Health Advances LLC Career Path
- Exit Opportunities
- Notable Alumni
- Health Advances LLC Culture
- Health Advances LLC Interview
- Health Advances Salary
- Target Schools
Health Advances LLC Key Stats
- Health Advances LLC Website: https://healthadvances.com/
- Health Advances LLC Headquarters: Weston, MA
- Health Advances LLC Advances LLC Number of Employees: 170
- Health Advances LLC Number of Locations: 4
- Health Advances LLC Chief Executive: Mark Speers
- Health Advances LLC Revenue: $30M
Health Advances LLC History
Founded in 1992 by Mark and Paula Ness Speers, the history of Health Advances LLC begins in Boston, MA. After leaving positions at Bain & Company, Mark and Paula Ness Speers decided to begin their own consulting firm which would cater to the unique needs of the healthcare industry. They focused on recruiting industry professionals with a background in business, science, and medicine.
Over the years, Health Advances LLC has built up a team of experts that reflects this innovative approach. This investment in specialized knowledge of the healthcare industry is also reflected in the Health Advances LLC interview questions, which mainly focus on case studies that involve the medical industry.
Since the firm’s inception, Health Advances LLC has strategically opened offices near various healthcare hubs across the world. For example, the San Francisco office is in the heart of Silicon Valley’s biotechnology and medical devices industry. With a database of clinical trials and industry trends, Health Advances LLC has a history of staying on the cutting edge of healthcare by predicting changes in the field based on its own research and work with clients.
In 2016, Health Advances LLC was acquired by Parexel International Corporation, ensuring that the firm will continue to scale over the coming years.
Health Advances LLC Careers
Health Advances LLC careers can vary widely based on your background and interests, as well as the luck of the draw in the staffing process. Health Advances LLC consultants work on projects that cut across a wide range of areas of the healthcare industry, from clinical development to digital health to M&A to valuation services. The firm targets students and professionals with a background in science, medicine, business administration, pharmaceuticals, and biotechnology.
Health Advances LLC Practice Areas
Health Advances LLC has a wide range of practice areas that reflect its ability to help healthcare companies with a wide range of strategic challenges.
- Clinical Development Strategy
- Due Diligence
- Global Market Access and Pricing Strategy
- HIT and Digital Health Business Strategy
- HIT M&A Strategy and Due Diligence
- Launch Excellence
- Lifecycle Management
- Market Assessment and Forecasting
- Partnering and Licensing
- Portfolio Planning
- Product Positioning
- Strategic and Business Planning
- Technology Commercialization
- Valuation, Financial Analysis, and Negotiation Support
Health Advances LLC Industries
Given its focus on the healthcare industry, the six primary Health Advances LLC industries are all subsegments of the broader healthcare industry. The first five are well-recognized sub-segments of healthcare. However, the final industry listed – “Transactions” – cuts across all parts of the healthcare landscape. It deals with the buying and selling of healthcare businesses of all types.
Health Advances Office Locations
There are four Health Advances LLC locations, with Health Advances Boston functioning as the company headquarters. Each of the Health Advances LLC office locations and addresses are listed below:
- Health Advances Boston – 275 Grove Street, Suite 1-300, Newton, MA 02466
- Health Advances San Francisco – 101 Second Street, Suite 800, San Francisco, CA 94105
- Health Advances Zurich, Switzerland – Zählerweg 6, CH-6300 Zug, Switzerland
- Health Advances Hong Kong – Level 12, One Peking, No.1 Peking Road, Tsim Sha Tsui,Kowloon, Hong Kong
Health Advances LLC Career Path
The career path at Health Advances is standard for management consulting and typically looks like this:
- Analyst – starting position that focuses on research, data analysis, and modeling.
- Senior Analyst – experience with data analysis leads to more opportunities to synthesize and present data to the consulting team and clients.
- Consultant – a mid-level role which focuses on giving presentations to and interacting with clients, training Analysts, and managing their cases and team members. This is typically a post-MBA position.
- Engagement Manager – leadership position in which you coach team members, manage the daily operations of the consulting team, and engage with clients.
- Director – highest position on the consulting team which focuses on building client relationships, overseeing larger projects, and offering leadership and mentorship.
The Health Advances LLC undergraduate career path begins with a role as an Analyst. In contrast, individuals with an MBA or consulting experience begin their Health Advances career as a Consultant.
These roles are not unlike any other management consulting firm. However, at Health Advances LLC, you are always thinking about some part of the healthcare value chain.
For several years, Vault has ranked Health Advances LLC highly when it comes to exit opportunities. Yes, a few years at the firm will build a wide range of core, highly marketable consulting, finance, strategic, and problem-solving skills. However, due to the focus on healthcare, there is less versatility in what type of career you can pursue once leaving. You’ll be branded a “specialist healthcare consultant,” making it harder to branch out into other types of work.
This means that you could take on a position in the healthcare industry or even get into the healthcare practices at MBB or other top-tier consulting firms if you play your cards right. Our team has helped hundreds of healthcare specialists make moves into top positions in corporate strategy, strategy consulting, finance, and more. Work with us today!
Health Advances LLC has a list of notable alumni who have pursued careers in business, healthcare/medicine, or consulting and/or management roles at other top consulting firms. The Health Advances LLC notable alumni listed below serve as examples of career paths you can potentially pursue after a successful stint at the firm.
- Amy Lodge Wall – Mergers & Acquisitions at Bain & Company
- Jeffrey P. Castelli – Chief Development Officer at Amicus Therapeutics, Inc
- Douglas Brown – Director at Vynamic
- Grace Banik – Fellow Physician at Children’s Hospital of Philadelphia
- Holly May – Head of People and Operations at Datavant
Health Advances LLC Culture
Upon a quick review of the firm’s website, you might think that the culture at Health Advances LLC is cookie cutter – and not all that different from other consulting firms. The firm talks about having a focus on growth and development, access to senior management, a supportive environment, a commitment to volunteerism, and a collaborative approach to work. These tend to be the types of things most consulting firms have on their websites, so how much is truly differentiated?
It turns out that the firm isn’t all bark, no bite. Employees rank the firm highly across several areas:
- Professional development
- Training and mentoring
- Work-life balance
- Supportive management
- Friendly people
While the pay is good and the kind of work the firm engages in is interesting, the culture at Health Advances is one of the top reasons people stay. Folks at the firm are friendly, kind, and really look out for one another.
The firm offers a comprehensive 7-week onboarding program for new hires to immerse them in each aspect of the business before jumping into client work. Health Advances LLC also offers myriad professional development opportunities. Employees at the firm receive mentoring from management and regular constructive feedback through formal and informal reviews with managers.
Travel at Health Advances is minimal. In addition, work-life balance is generally better than the larger consulting firms but can be unpredictable week-to-week. One week you may work 40 hours, but the next three could be 50–60-hour weeks. However, you shouldn’t expect anything else if you’re pursuing a role at any consulting firm!
- “Top Places to Work” (Boston Globe, 2020)
- Top 20 Firm for Exit Opportunities (Vault)
- #1 Best Consulting Firms for Formal Training (Vault)
- #22 Vault Consulting Top 50
Health Advances LLC Interview
Like other management consulting firms, Health Advances LLC has an interview process that includes case-oriented interview questions. The Health Advances LLC interview is conducted by senior members of the consulting staff and interviewees are expected to solve cases focusing on client problems in the healthcare industry. You can find a sample case study on the website, as well as suggestions on how to prepare for the Health Advances interview.
Health Advances LLC Interview Process
Health Advances LLC has a six step recruitment process that begins at the time a candidate submits their resume and ends with a job offer.
The interview portion of the process starts with a phone screen to gauge the candidate’s interest. Then, the process moves to one-on-one interviews with the consulting staff. This includes at least one case interview and one fit interview. The fit interview involves behavioral interview questions designed to assess cultural fit. Some sort of experience in, passion for, or genuine interest in healthcare will go a long way during the process. Although the firm is not looking for deep knowledge of medicine or healthcare, having a basic understanding of the differences between big pharma, biotech, medical devices, insurance companies, and hospital systems is definitely a good idea.
Throughout the Health Advances LLC interview process, candidates are regularly updated on their status. Following the completion of the interviews, the final steps of the interview process are submitting employment references and negotiating your Health Advances salary.
Out-loud practice is the best way to prepare for Health Advances case interviews. Not sure where to start? Work with our team to get interview-ready!
Health Advances Salary
Entry-level Analysts earn a Health Advances LLC salary of around $80K/year (base pay). At the post-MBA level, the Health Advances salary rises to around $140K/year. Keep in mind, there is plenty of room for growth through performance bonuses (individual and company performance), and the promotion cycle at the firm is quick.
Offering multiple internship opportunities for undergraduate and MBA students, Health Advances LLC employs many methods for recruiting prospective employees from colleges and universities. Primarily, Health Advances LLC targets high ranking public universities and elite private institutions where it holds recruitment events at career fairs and workshops. Some of the Health Advances LLC target schools where these events are hosted include, but are not limited to:
- Harvard University
- Yale University
- Dartmouth College
- Stanford University
- Johns Hopkins University
- University of California – Berkeley
Due to its commitment to diversity, equity, and inclusion, the Health Advances LLC diversity programs focus on recruiting students and professionals from a variety of underrepresented backgrounds in consulting. Through internship programs and recruiting, students and professionals from underrepresented backgrounds are given the chance to gain experience and find a position in the competitive consulting industry. The commitment of Health Advances LLC to supporting diversity can also be seen in the community service and philanthropic work in which the firm engages.
Uniquely situated as a consulting firm for the healthcare industry, Health Advances LLC assists clients and executives in addressing some of the most pressing concerns across the healthcare landscape. With a wide range of benefits (financial and non-financial) and merit-based advancement opportunities, a Health Advances LLC career can be just as attractive, or more attractive, than many other top consulting firms.
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