Provider services and solutions

Strategy and growth: Service line and product development

The challenge

Medical products and service lines can be powerful revenue makers. They can add value to your mission. Create competitive advantage. Build your brand. Expand your margin. Your organization’s growth strategy demands a thoughtful, organized process for evaluating products and service lines. You need to consider which existing services you should expand, which you should discontinue, and which you want to continue unchanged. Do they address your community’s needs? Are they profitable? How do they compare to competitors’ services? Do you see opportunities to create centers of excellence?

Plans to revamp existing service lines or develop new ones need to reflect your organization’s mission. Align with your margin requirements. Meet your growth targets. Your development plans should take advantage of technological advances that enable providers to deliver services to consumers in new and creative ways. Personalized services that take into account each consumer’s needs and preferences. Services that emphasize patient-centered rather than disease-centered care. Products and services that keep consumers healthier for less money.

How we can help you

• To plan new service lines, you need to gain a thorough understanding of your business environment. Determine whether existing services lines are moneymakers. Investigate the potential financial return of new products and services.
  • We can help you understand your business environment, including regulatory constraints, market drivers and market trends. We can evaluate the effectiveness and profitability of past and current service line initiatives. We can analyze peer data to evaluate your organization’s competitiveness. We can help you identify areas of opportunity for new strategic initiatives.
• Your products and service lines must be attractive to consumers.
  • We can look at customer acceptance of your existing products and service lines. We can assess your community’s medical needs and help you design profitable products and services to meet them. We can work with you to leverage new technology to offer innovative and desirable new services. We can help you establish centers of excellence.

Common services include

• Performing market analyses to increase market share
• Making existing services more efficient and more responsive to community needs
• Standardizing care, materials and processes to expand capacity and reduce costs
• Evaluating delivery models and partnership alignments to enable sustainable growth