Suppliers - Success Stories
Meaningful Use Implications and Strategy Development – Multiple Vendors
ARRA and Meaningful Use impact both providers and vendors that serve them. With new requirements for certification and standards adherence, vendors have to adapt their product offerings, business and sales plans, development strategies and services to their customers. In fact, many have to reinvent their value propositions.
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Results:
- Educated Board and Senior Management
- Researched Regarding the Impact to Key Products and Services
- Assessed of Market Opportunities and Risks
- Conducted Strategy Sessions with Senior Managers and Investors to Determine Course Correction
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Vertical Market Development and Penetration Strategy – Large Bar Code & Auto-ID Product Company
A successful, $1 Billion Bar Code & Auto-ID Company chose health care as its first vertical market. Specifically company leadership desired increased presence, visibility, growth and capacity in the healthcare provider market space. Maestro Strategies worked with senior management to craft a plan that included the business vision, organization structure, channel partnerships and sales process to penetrate this challenging but profitable market. Implementation of strategies resulted in six-fold increase in revenues.
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Results:
- Reviewed product offering and existing positioning
- Interviewed healthcare industry thought leaders regarding positioning, awareness, product requirements, etc
- Conducted research regarding market size, penetration by competitors and SWOT of offering
- Led numerous strategy sessions with senior management to provide education regarding the healthcare market place, alternative strategies based on awareness, penetration, role of HIT vendors, and partnership opportunities
- Documented best practice and industry case studies
- Provided specific recommendations around skill sets needed, staffing levels, marketing methods, etc.
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HIT Vendor Strategic Plan – Clinical and Financial Systems
A large health information technology vendor planned to capitalize on historic strengths in revenue cycle management while leveraging new opportunities in clinical systems. Maestro Strategies facilitated creating of a new vision and solution direction.
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Results:
- Reviewed company history, acquisitions, products and services and customer satisfaction levels
- Interviewed Senior Management and Board regarding strengths, weaknesses, opportunities and threats
- Researched market requirements and competitor positioning
- Led strategy sessions on core competencies and gap analysis
- Developed multi-phased transformation plan
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US Market Penetration Strategy – Multiple Vendors
Maestro Strategies has worked with a number of vendors, from Europe and Canada, on US Market Penetration Strategies. We help each leadership team transition strategies that work in other countries to the specifics of the US marketplace.
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Results:
- Board and Senior Management Education
- Research Regarding Market Opportunities, Risks and Challenges
- Assessment of Business Case and Investment Required
- Identification of Competitors and Market Size
- Development of alternate strategies for market penetration and growth
- Introduction, as appropriate, to potential partners
- Strategy Sessions with Senior Managers and Investors
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Technology Driven Business Models – Multiple Suppliers of Services/Clinical Devices
As healthcare becomes an information intensive industry, many traditional service providers and clinical device companies are augmenting their offering with information technology based solutions. Maestro has worked with a number of these companies including a large group purchasing organization, an environment services company, a laboratory products company, a health information management outsourcing company and others to develop new information driven value propositions.
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Results:
- Market & Competitive Assessment including a market, customer and competitor profile
- SWOT analysis of existing offerings
- Research on the impact of information technology on the offering
- Interviews and focus groups of industry thought leaders
- Strategy sessions with key decision makers around value proposition and innovation opportunities
- Creation of a Strategic Framework for product management and launch
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