Key Takeaways from the Consulting Project

Working with our client on researching private equity investment in healthcare has been a

May 09, 2024

Working with our client on researching private equity investment in healthcare has been a great learning experience. It taught me a lot about how to build strong relationships with clients and make the most of available resources. Although the project dealt with some complex issues, I'll try to explain its importance in a clear way.

One of the biggest lessons was how to maintain a good relationship with the client. Frequent updates and open conversations were key to building trust with our client. I learned that it's not just about following their requests blindly, but truly understanding what they need and expect. This meant actively listening, asking lots of questions, and making sure our final work would meet their goals.

The project required us to draw from many different resources. Talking to experts, professors, and other classmates gave us diverse perspectives that strengthened our research. I realized how valuable collaboration can be. We also reached out to industry professionals for advice, which helped validate our findings and get insights into real-world applications.

It took some work to figure out exactly what our client wanted from us. I quickly learned that our research outcomes needed to align with our client's strategic objectives and policy agenda. Simply presenting a comprehensive overview of the relevant regulations would not suffice. We needed to distill the complicated legal and regulatory frameworks into clear, actionable insights that could directly inform our client's decision-making processes and drive positive change.

This involved a balance of maintaining academic rigor while ensuring our findings were conveyed in an accessible, easily understandable manner for the client. We had to dive deep into complex regulations like antitrust laws, charitable trust rules, and corporate practice of medicine doctrines, extracting the core principles most pertinent to our client's goals. Legal jargon had to be carefully translated without sacrificing accuracy. Ultimately, aligning our research with the client's strategic needs taught me the immense value of adaptability, audience-centric thinking, and effective communication in impactful policy work.

Moreover, when it came to presenting our findings and recommendations, adopting a coherent narrative structure proved to be instrumental. We recognized that a well-crafted storyline, guiding the client through our analyses in a logical and compelling manner, would significantly enhance the clarity and persuasiveness of our arguments. Careful thought went into sequencing our key points, using relatable examples to illustrate complex concepts, and seamlessly transitioning between sections to maintain narrative flow. This experience underscored the importance of not just conducting rigorous research but also mastering the art of storytelling to ensure our insights resonated with the intended audience.

On a personal level, this project really made me appreciate how complex and challenging private equity investment in healthcare can be. Issues like healthcare consolidation, rising costs, and unequal access are serious concerns. It was eye-opening to be part of a team working to identify these problems and propose solutions for a more fair healthcare system, and I’m very honored to be part of this process.

This experience with our client taught me so much - how to engage effectively with clients, make the most of available resources, and understand the real-world impact of policy work in healthcare. As we wrap up, I'm more convinced than ever about the importance of continuing this kind of research and policy development in the future.