Want to Work in Healthcare Consulting? Hear from 4 Top Firms

Transcription:

Let's move into the panel. It's going to be a spicy time, so I hope you've got your notepads out—your phone, notetaker apps, whatever helps you digest the learnings you’re about to get.

We're diving into panelist intros in response to an opening question. From there, we’ll move into the core content—questions curated from hundreds of pre-submitted inquiries from attendees. Thanks for those submissions!

After that, we’ll take live audience questions, and end with final remarks and advice from our panelists. One last reminder—please stay on mute for the session. Katie and I will be in the chat alongside recruiters from Guidehouse, LEK, Simon-Kucher, and Stax, so drop your questions in the chat anytime.

Jenny Rae, I’m giving you the floor—let’s get started!

Panelist Introductions: Backgrounds and Hiring Insights

I was just taking care of catering—I ordered Japheth a cold beverage and Katie and Japheth some pudding. You guys are making me hungry as we start today’s call!

Panelists, we’re really excited to have you here. Let’s start with introductions in this order: Guidehouse, then LEK, Simon-Kucher, and Stax. Please share your name, title, firm, and what’s currently rewarding or interesting about working in healthcare/life sciences consulting. Also, let us know which roles you’re hiring for and whether you hire international candidates.

Guidehouse: Youbean Oak, Partner

I'm very happy to be on this panel—thank you to Jenny Rae and the organizers. My name is Youbean Oak, and I’m a Partner with Guidehouse Life Sciences, based out of Boston. I’ve been with Guidehouse for eight years, and before that I was at Simon-Kucher for a few years—though I don’t believe Tyler and I overlapped.

Before consulting, I earned a PhD at Harvard in Cancer Cell Biology. Guidehouse is a newer company, so I always share a bit of our origin story. You may have heard of PwC—about six years ago, its public sector arm spun out to become Guidehouse. Then Guidehouse acquired Navigant to add commercial capabilities. I came through the Navigant acquisition with the Life Sciences team.

Fast forward to today—we're a global consultancy with 18,000+ employees and one of the largest healthcare consulting firms worldwide.

What attracted me to Guidehouse is that our biopharma team sits within a much broader health segment. We have colleagues working with federal agencies like CDC, FDA, NIH, as well as state and local public health. We also support payers, providers, health systems, and hospitals. This gives us a unique 360-degree view of the healthcare ecosystem.

Collaboration is a core value at Guidehouse. Our model encourages us to work cross-functionally to solve impactful client challenges. We’re growing fast and have ambitious goals—which makes for an entrepreneurial environment with room for team members to grow.

In terms of visa sponsorship, we currently do not sponsor new work visas for international students in US-based roles. The key exception is for those with doctorates (PhD, PharmD, etc.) working post-graduation on OPT. If that’s you, please reach out!

L.E.K. Consulting: Matt, Managing Director

Am I next, Jenny?

I think we’ll let you go next, Matt.

Youbean—you set the bar high! Hey everyone, great to meet you. I’m Matt, a Managing Director at LEK and I’ve been with the firm for somewhere over a decade now. I joined after completing a PhD and spinning out my thesis research into a startup—only to realize I knew nothing about how a business runs or even what a business is.

I originally thought I’d treat LEK as a two-year “mini MBA” stopover. Clearly, I forgot to leave—because I’m still here, many years later, and still really enjoying it.

For anyone unfamiliar with LEK, we’re around 2,500 to 3,000 employees globally across a few dozen offices. We’ve been operating for over 40 years. We spun out from Bain a long time ago (marketing hates when I say that), but one of my colleagues recently published a book called The Best Job in the World, which tells our origin story—including some cinematic moments in that spinout.

Today, we’re a generalist firm. We work on everything from shoes to advanced pharmaceuticals. Personally, I spend all my time in healthcare, advising biotech and pharma clients on a wide range of strategy issues.

Why LEK and What Keeps Matt Engaged

When I think about what’s most rewarding, I usually point to two things.

One—I love my colleagues. That’s a huge part of what’s kept me here. Two—the breadth and variety of work I get to do. Over the years I’ve worked with everything from early-stage VC-backed startups to $50 billion mega mergers that hit the front page of the news.

So I’ve really gotten to see the full spectrum of what healthcare consulting can look like.

In terms of international hiring—it’s role-dependent. At the PhD level and for certain advanced roles, yes, we do sponsor. For earlier career roles, typically the answer is no—but you’ll want to check our website for specifics by role.

Great to be here. I’ll share more as the conversation unfolds.

Simon-Kucher: Tyler, Director

Hi everyone! I’m Tyler, a Director at Simon-Kucher. My background is in biomedical engineering—both undergrad and grad school—and I also worked in finance for a bit before realizing that healthcare and life sciences was really where I wanted to be.

That initial interest was academic. But over time, it turned into a career. I joined Simon-Kucher for a few specific reasons, which I’ll share in a second, but the main one was the opportunity to focus deeply on medical technology and devices.

Simon-Kucher is a global strategy consulting firm—around 2,000 to 3,000 employees total. We’re generalist in nature, but we have a dedicated life sciences and healthcare practice.

Within that, I personally focus on medical technology: healthcare IT, diagnostics, and medical devices. The firm originally spun out of a university in Europe with a focus on top-line growth. So our work centers on sales, marketing, and pricing—how do you grow revenue effectively?

Bringing Healthcare Innovation to Market

What keeps me engaged is helping organizations turn innovation into real-world outcomes. One project that sticks with me: I worked with a company on launching a new cardiovascular device. We helped them develop their go-to-market strategy.

Five years later, my grandmother received that very device—and it’s still working for her today. That kind of impact is incredibly rewarding.

In terms of recruiting, we do offer sponsorship for international candidates with advanced degrees or experienced hires. For undergrad roles, sponsorship is not standard, but it’s evaluated case by case. And Laura in the chat can help clarify those details.

Stax: Matt McMillion, Director

Nice to meet you all—I'm Matt McMillion, a Director at Stax. I’ve spent most of my career in healthcare—around 15 years—and the last 10 post-MBA specifically in healthcare investing.

I’ve worked in the mid-market and in mega-cap, as well as in corporate strategy. So I’ve seen the full lifecycle of deals—and at Stax, that’s our focus. We’re built to serve the middle market, which I think is one of the most dynamic parts of the investing landscape.

Why Healthcare, Why Stax

What drew me to healthcare consulting is pretty simple: the U.S. healthcare system is a mess. It’s complex, it’s inefficient, and it’s not designed in an optimal way. That’s a challenge—but also an opportunity.

At Stax, we work on high-impact diligence for investors. Our projects touch everything—from buy-side to sell-side, mid-market to mega-cap. And I’m here because I believe in the power of capital to move healthcare in a better direction. Maybe not perfect, but better.

We’re a small firm and hiring at all levels—including international candidates on a case-by-case basis. If you're a structured thinker and want to solve real-world investor problems, Stax is a great place to be.

And I’ll just add—if you’re thinking about picking a lane in consulting, healthcare is a great one. It’s deep, it’s meaningful, and it’s going to be relevant for a long time.

Emerging Trends in Healthcare Consulting

Jenny Rae: Wow, thank you all—great personal experiences and awesome context for the background. We’ll now dive into a few more specific questions around what’s happening in the industry, the kinds of projects you’re working on today, and advice for those looking to break in.

So I want to start with a trend question. Matt from LEK, let’s go to you first, and then Youbean from Guidehouse. What’s one key industry trend you’re seeing right now, and how is it shaping the work your firm is doing?

LEK: Risk Aversion and AI in Healthcare Consulting

Matt (LEK): Great question. And just to clarify—you mean healthcare consulting industry trends, not just healthcare more broadly, right?

Jenny Rae: Exactly—what’s going on inside consulting as firms work to serve the healthcare industry?

Matt: Got it. So there’s a ton of overlap between trends in healthcare and trends in consulting. But if I had to highlight just one on the healthcare side, I’d focus on the current wave of risk aversion—especially in device and therapeutic development.

Capital is tighter right now, and clients are more conservative. We recently published a white paper on consolidation around certain biological targets in pharma—and that piece really took off. It resonated with banks, VCs, and clients. The number of truly new targets being developed is the lowest it’s been in decades.

There’s a clear herding effect toward “safe” targets. So we spend a lot of time helping clients think through how to take appropriate risk and how to get rewarded for that risk. That’s a huge part of our strategic advisory right now.

If I had to highlight a second trend—on the consulting side—it’s the impact of AI. Tools are evolving rapidly, and we’re deploying new ones every day to tackle these kinds of problems. If I were entering the workforce now, I’d want to be really fluent in that new paradigm.

Guidehouse: The Push Toward Value-Based Care

Youbean (Guidehouse): I completely agree with Matt on both points—so to avoid repeating him, I’ll highlight a different trend that’s been ongoing for several years: value-based care.

Clients across the public and private sectors are still focused on how to realign care delivery and reimbursement models toward patient outcomes and population health. Especially in the U.S., we keep asking: Are we delivering value commensurate with the payments being made?

At Guidehouse, this trend shows up in a variety of ways:

• Helping biopharma clients better define and communicate the value of their products
• Supporting health systems as they redesign care management models to align incentives
• Advising government clients on how to create structured payment models that drive accountability

Value-based care isn’t new—but it continues to be one of the defining themes shaping healthcare strategy work today.

AI’s Growing Role in Client Expectations

Jenny Rae: Fantastic. Matt from Stax and Tyler from Simon-Kucher—let’s turn to AI now. It’s a hot topic. How is it actually changing your day-to-day work with clients, if at all? Any specific examples?

Stax: Clients Are Asking “Why Should I Pay You?”

Matt (Stax): Yes, AI is absolutely changing the game—and I think about it from two angles: what clients expect and how our teams work.

On the client side, expectations have shifted. Just yesterday, a client said to me: “I can get 80% of what I need about market size from ChatGPT. Why should I pay you?”

That’s a real quote. And honestly, they’re right—clients shouldn’t have to pay us for things they can now access for free.

So the bar has been raised. Where we add value now is in bringing judgment, structured thinking, and depth beyond what an AI can give. That’s where we need to focus.

On the internal side, I actually think it’s an exciting time to be a consultant. A lot of the “blocking and tackling” has been automated. So our consultants can spend less time on notes, quote pulls, and rote synthesis—and more time thinking about the big rocks that actually move the needle.

To me, this is a boon for the industry. It’s elevating the work from both ends.

Simon-Kucher: How AI Improves Efficiency and Client Impact

Tyler (Simon-Kucher): Absolutely agree with Matt. Our teams are seeing major efficiency gains from AI tools—especially for secondary research and synthesizing publicly available information.

Here’s a recent example: we were working with a client on tariffs and how they were impacting their business and competitors. AI tools allowed us to very quickly collect information on how major companies like Medtronic and Abbott were presenting these challenges to the market.

That speed let us shift our team’s focus from data collection to deeper questions like: What does this mean for our client’s positioning? Should they follow what Abbott is doing—or do something different?

That’s the shift. AI gets us to insights faster. Then we get to spend more time on the thinking that matters.

Building Safe and Compliant AI Environments

Internally, Simon-Kucher has also implemented enterprise GPT environments. These are closed systems that allow us to safely use AI with sensitive client data.

Here’s why that matters: a few years ago, when GPT tools started becoming popular, our legal team put out strict guidance on what data could not be shared. Anything internal or client-confidential was off-limits. We couldn’t risk it going into a general training model like OpenAI’s.

Now, with enterprise-grade AI, we’ve built fenced-off environments where client data is protected. We’ve set up agreements with clients around what will or won’t be used with AI, and we’ve worked with tech providers to keep that data siloed.

So it’s not just about using AI—it’s about using it in a way that protects the client, maintains confidentiality, and ensures compliance.

The Consultants Need Consultants (aka Legal)

Jenny Rae: Sounds like you all have consultants for your consultants! It’s like meta-consulting.

Tyler: Absolutely—we’ve got legal advisors weighing in on this regularly.

Jenny Rae: That’s one of my favorite follow-up questions whenever someone says they work in consulting: For whom? On what? Now we’ve got the answer—legal, on AI compliance!

Top Skills for Healthcare Consulting Candidates

Let’s shift gears and talk about skills. Youbean, we’ll start with you. What’s one soft skill and one hard skill you recommend candidates start building now to prepare for a role in healthcare consulting?

Guidehouse: Structured Communication and Data Fluency

Youbean (Guidehouse): For soft skills—I’ll emphasize structured communication. If you talk to enough consultants, you’ll notice we tend to speak in threes. Distilling complexity into clear, concise ideas is one of the most important things we do.

You might be the technical expert on a topic, but if your client doesn’t understand you, your insight doesn’t land. Storytelling is a key part of our job.

For hard skills—data. You don’t need to be a data scientist, but you do need to be comfortable working with large datasets. Whether that means building models in Excel or asking ChatGPT about healthcare data sources, today’s consultants need data fluency.

Stax: Owning Uncertainty and Understanding Healthcare Finance

Matt (Stax): Those are great points. I’ll add one soft skill that doesn’t get talked about enough: willingness to voice uncertainty.

In healthcare consulting, nobody knows everything. It’s a hard subject. The best consultants are the ones who can say, “Hey, I’m not sure—I need help” or “Let’s whiteboard this together.” And they do it in a way that’s constructive, not self-sabotaging.

That’s valuable.

For hard skills—understand how the money moves. Learn healthcare finance basics. When I worked at R1 (a revenue cycle management company), they gave us a textbook on day one. Just the first five chapters. But it explained how payments, charges, and reimbursements actually work in U.S. healthcare.

It’s not intuitive. But if you know it, you’ll ramp up faster and add value sooner.

What Makes a Resume Stand Out in Healthcare Consulting

Jenny Rae: Matt from Stax, let’s start with you. For someone just starting out—maybe without a science degree—what can they emphasize to stand out when applying for healthcare consulting roles?

Stax: Structured Thinking Over Technical Background

Matt (Stax): Great question. Honestly, it’s the same answer whether you’re applying in healthcare or any other vertical: you need to be a structured thinker who’s willing to learn.

You don’t need a biology or chemistry degree. What you do need is the ability to break down complex problems and build logical recommendations.

In the mid-market diligence world, you can ramp up on healthcare in a few projects. I always tell new hires: give it 3 or 4 cases. Once you start to speak the language, you’ll realize how powerful it is to specialize. It’ll make your day-to-day easier and your path to partner clearer.

LEK: Find Your Superpower

Matt (LEK): Totally agree with that. I’ll add this: know your superpower.

We get hundreds—sometimes thousands—of applications. Most of those resumes will come from top schools. Most will have a 3.5+ GPA and relevant coursework. Many will also have graduate degrees.

So how do you stand out?

You’ve got to show what makes you exceptional. What’s your “end of one” thing? I once hired a candidate who led a ballroom dance team. Another who was formerly Miss India. Another with a Nature publication.

You don’t need to be perfect at everything. But there should be something that screams: “This person is truly great at X.” That’s what I’m scanning for.

Simon-Kucher: Show Your Interest in Consulting

Tyler (Simon-Kucher): I love that advice. I’ll add that it’s really helpful to show that you’ve taken an active interest in consulting.

That could mean joining a consulting club, participating in case competitions, or just doing projects that resemble consulting work—like breaking down large problems and solving them collaboratively.

And if you haven’t done formal consulting—that’s okay. Then the focus shifts to how you describe your past work. Consulting is team-based. So highlight your experience working in teams. Show how you communicated insights and helped others succeed.

It’s not about having the exact background. It’s about showing that you understand the role—and can thrive in it.

The Power of Soft Skills

Jenny Rae: Tyler, let me push a little further. Why does having consulting-style experience matter? What do you notice about those candidates in interviews or on the job?

Tyler: It’s really about the soft skills. People who’ve done consulting-like work tend to have stronger communication, better teamwork instincts, and more confidence breaking down ambiguity.

It’s less about the knowledge and more about the mindset.

What to Expect in the Interview Process

Jenny Rae: Let’s jump to another practical question we got from the audience: Should I expect a case interview? And if so, will it be about healthcare—or could it be about something totally unrelated like hamburgers?

Let’s go round-robin—just jump in if you’ve got a process to share.

Guidehouse: Yes, It’s a Healthcare Case

Youbean (Guidehouse): For life sciences specifically, yes—we do case interviews.

There are two components: a short spot case, and a case presentation. For the presentation, you’ll get a prompt and submit a few slides ahead of time. Then you’ll present them live during the interview.

Both components are healthcare/life sciences specific. We want to see how you approach industry-relevant problems. There’s also a behavioral interview, of course.

AI in Case Prep: Helpful Tool or Red Flag?

Jenny Rae: How many people have you caught submitting the same ChatGPT-generated slides or cover letters?

Youbean (Guidehouse): It hasn’t been a major issue for us—yet. But we can definitely tell when something was written by AI. Especially in cover letters. My advice? Use AI as a tool, but don’t let it be the only tool. Let your voice come through.

Jenny Rae: We had a case competition last year. Out of 250 applicants, over 100 listed the same “favorite company” with the same exact phrasing. We knew what had happened.

Tyler (Simon-Kucher): Same here. Yes, we do case interviews—and yes, they’re healthcare-related. But no, you don’t need to be an expert on the topic. We’ll provide enough context in the case.

That said, if someone tries to use AI to answer questions during the case—and just reads it aloud—it’s very obvious. We’re not just testing knowledge. We want to see how you think.

So don’t panic if you don’t know all the industry terms. Just be clear, logical, and curious.

Matt (Stax): We do case interviews as well. But we’re a generalist firm, so you won’t necessarily see healthcare cases unless you’re applying directly into the healthcare group.

We expect you to bring structured thinking to the table—not memorized AI-generated content. That’s how you differentiate.

Can You Break In Without a Science Background?

Jenny Rae: What about candidates who are interested in healthcare but don’t have a science background? What do they bring to the table, and how can they break in?

Matt (Stax): It’s 100% doable. You just need to show you’re a structured thinker and a fast learner.

Healthcare is complex, yes. But it’s teachable. We’ve had plenty of people come in with non-traditional backgrounds who’ve become incredible consultants. You’ll want to pick a lane—maybe healthcare IT, provider strategy, or payer operations—and go deep. That specialization pays off over time.

Matt (LEK): Same here. Know your strengths. If you’re not a life sciences expert, maybe you’re great at analytics or storytelling. That still adds tremendous value.

I’ve worked with top performers who had zero science exposure—but were amazing at framing problems and working with clients. So don’t count yourself out.

Youbean (Guidehouse): One of our strongest managers used to be a concert pianist! So yes—it’s possible.

What we’re really looking for is how you think, how you communicate, and how you collaborate. Healthcare experience helps, but it’s not a requirement.

Hot Takes: The Future of Healthcare Consulting

Jenny Rae: Alright, time for some hot takes. Let’s fast forward 5 years. What’s something you believe will be true about the future of healthcare consulting?

Tyler (Simon-Kucher): In medtech, we’ll see a shift away from just devices—and toward software and wraparound services. Devices are becoming commoditized. The differentiation will come from the digital ecosystem around them.

Youbean (Guidehouse): I work a lot in cell and gene therapy. We’ve made incredible scientific progress, but commercializing those therapies is still really hard. I think we’ll figure it out in the next 5–10 years—how to price, distribute, and scale therapies like CRISPR in a sustainable way.

Matt (LEK): The job of a consultant will look totally different. Information is already commoditized. In the future, junior consultants won’t spend time collecting data—they’ll spend time interpreting it. That means communication, client management, and judgment will matter more than ever.

Matt (Stax): I’ll add this—healthcare’s financial infrastructure is slowly being smoothed out by technology. As AI and automation reduce friction, we may see a détente between payers and providers. Less friction, fewer disputes, and more streamlined operations.

Final Advice from Each Panelist

Jenny Rae: Last question—your parting advice. What’s one thing you want job seekers and industry professionals to take away from today?

Youbean (Guidehouse): Wherever you land, be proactive. In a remote world, it’s easy to do your tasks and clock out. But if you want to grow—meet people, ask what they’re working on, and get involved.

Tyler (Simon-Kucher): Have a story about why you care about life sciences. We’re all here because we believe in helping innovation reach patients. If you can articulate your passion, it goes a long way.=

Matt (Stax): Be a good teammate. Some of my closest friendships came from consulting. People remember how you show up for the team—and that matters just as much as your case answers.

Matt (LEK): Be eager. Whatever you pursue, make sure it energizes you. That eagerness will come through in your interviews, your projects, and your relationships.

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Jenny Rae: I love it. Thank you all so much for your insights, stories, and advice. For everyone on the call—if you reach out to one of these panelists, tell them what you did with their advice. That’s how real relationships start.

And don’t forget—join us for Case Camp in New York later this month. It’s our only in-person event this year, and we’d love to see you there.

Thanks again everyone!

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