Clients expanding into new lines of business partner with Accenture Health to receive strategic guidance and full-service implementation of sustainable strategies and solutions that yield big results.
Richard Fu is a seasoned veteran within Accenture’s Strategy Practice—a key pillar that creates impactful business models by combining health industry insight with revolutionary technology. Since 2010, Fu has helped identify new opportunities for businesses by unlocking current capital to launch new products or deploy strategic investment for growth. By keeping abreast of ever-changing market forces—like health care public policy—Fu understands how and why businesses need to adapt to emerging environments.
“We try to answer the most abstract and nebulous questions for our clients,” said Fu. “Health care clients know that there’s a lot for them to learn from other industries about how to best service its customers. We also help clients from various industries successfully navigate their inaugural entrance into the health care industry and find solutions that highlight their core competencies. That’s a key differentiator about Accenture: We enable the convergence of industries to inspire new growth.”
We regularly work with start-up organizations and have strong relationships with innovative hubs, designers, incubators and accelerators. They also use its “Healthcare 20/20,” a grassroots community and tool used to track innovation and the progress of health care startups around the world. Fu and his colleagues are well-versed in current digital trends, identifying funding, gleaning insights from entrepreneurial endeavors, fostering beneficial relationships and facilitating new relationships between businesses.
Several years ago, the executive leadership of a multinational corporation determined to embark upon a new business frontier: Health care. Fu was part of the cross-discipline team of experts who leveraged their experiences to educate the corporation's board and C-suite leadership about health care, innovating novel solutions for key challenges in patient care management and how to build out their business. As a result, the client gained knowledge about payers, providers, life sciences and introduced a new level of corporate social responsibility to their mission.
“After launching health care solutions, they became a competitive force in care management and offer health care products to diverse constituents,” said Fu. “When a company wants to make an impactful play, Accenture Health provides pragmatic experience as a dedicated partner. We introduce clients to innovations like virtual care and applied intelligence, how to bring new products to market, attract new customers, or improve care quality.”
Growing up, the University of Texas graduate watched his parents operate their “Mom and Pop” medical practice in Houston. His appreciation for how they provided patients with personal attention—from house calls to explaining insurance coverage—left a lasting impression upon him. He firmly believes that reviving that old school approach to the patient journey is made new again through advanced digital capabilities.