healthcare tech

Revenue Growth in Healthcare Companies

RESEARCH + CASE STUDIES

Healthcare Services Company Exceeds 20% Year-Over-Year Growth with New Sales Model


Revenue:
$6B

Employees: 38,000+


CHALLENGE

A leading operator of long-term acute-care hospitals (LTACs) and rehabilitation services provider was experiencing flat to below-market growth. This was largely attributed to:
 
1)   Insufficient resources to capture the opportunity in the marketplace.
2)   Inconsistent sales organization structure across the regions.
3)   Undefined roles without clear rules of engagement, creating role corruption, customer confusion leaving selling resources unsure of how best to execute.
 
Additionally, the client needed to move quickly, as their annual plan was going to be finalized in less than two months.

 

OPPORTUNITY

SBI leveraged the Revenue Growth Methodology to identify and sequence key focus areas to obtain the 20% year-over-year growth while ensuring fiscally responsible use of company resources. As a result, the following focus areas were identified:

  • Account Segmentation: Identify where the most opportunity exists.
  • Buyer Personas and Process Maps: Understand key drivers of all decision-makers and when they need to be influenced.
  • Sizing: Accurately match market opportunity with selling capacity.
  • Structure: Ensure optimal sales force structure to efficiently and effectively capture market opportunity and cover all key influencers (hunters, farmers, business development, medical liaisons).
  • Job Design: Eliminate role corruption by creating rules of engagement, key accountabilities, role-based competencies, and scorecards tied to business objectives.

SBI'S RESPONSE

Deployed coverage model investing additional resources in high-value SBI leveraged a combination of internal and external data sources to identify the market opportunity across the United States. In addition to stakeholder interviews and field surveys, SBI collected the voice-of-customer (VoC) to determine which roles would yield the greatest ROI. This input, along with emerging best practices SBI identified from a wide range of industries, informed the future-state organizational structure. From there, SBI was able to develop a data-driven model to determine the headcount needed to capture the potential.
 
To support a successful adoption and provide clarity around expectations in the future-state organization, multiple supporting materials were created, including:

  • Buyer Journey Maps with RACI assignments for each role to ensure a seamless buyer’s journey
  • Detailed Job Profiles, including key competencies and scorecards to aid in hiring and seller expectation setting
  • Sales Playbook, including Buyer Personas and Sales Plays to ensure the right messages were delivered at the appropriate times in the buyer’s journey
  • A dashboard with Key Performance Indicators (KPIs), including Behavioral, Leading, and Lagging indicators for the team to monitor progress

RESULTS

The company successfully executed the new sales model, which resulted in consistent growth and efficient use of resources. Sales expense steadily declined, while they exceeded the 20% YoY growth.

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RELATED INSIGHTS

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Contact Our Healthcare Practice


SBI’s Healthcare Practice team members come from leadership roles and consulting engagements within top healthcare companies and understand the challenges healthcare executives face today.

Doug Bain, SBI's Healthcare Practice Leader, is a revenue-driving executive operator and consultant with experience that ranges from Fortune 100 companies to startups

Connect with Doug to ask any questions you have, benchmark your organization against competitors, and access cutting-edge revenue growth methodologies:

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