Business Issue

A leading aggregator of data and insights for academic medical centers (AMCs) faced the challenge of redesigning its business model to add greater value to customers and drive profitable growth. The organization collected and aggregated data on operational, financial, and therapeutic patient outcomes. This data was provided back to members in separate databases, allowing them to query the information for insights. Additionally, the organization hosted conferences with key AMC leaders to share insights and discuss health care industry trends and challenges. The CEO and her team aimed to identify how they could add value for members and help them improve their actual performance.

Approach

To address these challenges, we helped the organization implement a comprehensive strategy that focused on member engagement and data integration. The new approach was centered on understanding the specific needs of their members and providing tailored support to enhance performance. Several strategic initiatives were undertaken:

1. Member Facing Team: Designed a team to work directly with members, helping them understand their data and identify key areas for improvement.
2. Single Consulting Organization: Developed a consolidated entity to collaborate with members, driving performance improvements based on benchmarks across the AMCs.
3. Integrated Database Design: Engaged with leaders to design an integrated database that could be queried based on persona-based insights (e.g., CEO or Chief Medical Officer perspectives).

Business Impact

The strategic initiatives led to significant improvements in both organizational efficiency and member satisfaction. By focusing on a member-centric approach and leveraging integrated data solutions, the organization achieved remarkable results:

• Removed silos across legacy databases and structures. This restructuring facilitated better data sharing and collaboration among different departments, leading to more cohesive operations.
• The member-centric approach to adding value resulted in a 75% increase in revenues over three years and a 15% increase in profit margins. This substantial growth highlighted the effectiveness of the new business model in meeting member needs and driving financial success.
• The successful redesign culminated in a highly desired acquisition by a leader in health care supply chain management and consulting. This acquisition validated the strategic changes implemented and positioned the organization for continued growth and success under new ownership.