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Objective: Enhance revenue growth of a risk-mitigation services company
Our team was engaged by the principal of a risk-mitigation services company focused on acute care clinical markets to explore ways to enhance sales. Recently published studies had explored and documented why people sue hospitals and clinicians for malpractice, and our client’s service offering directly addressed these causal issues in an innovative and tangible way. The company was solvent, but seemed to be stuck on a revenue plateau. We were asked to review the business and determine ways to spark revenue growth.
Project
We began the project by engaging the client in a detailed self-assessment of its strategic position. We determined that the service offering was unique to the market segment and well aligned with the forecasts of emerging thought leaders.
Next, we investigated various aspects of clinical environments with a high degree of exposure to malpractice litigation. By determining the cost of exposure within various acute, alternative, and long-term care settings, we were able to reposition the service and increase pricing several fold. By under-pricing the service, our client was understating the value it could deliver to the customer.
The evaluation also revealed that our client could refine sales activities by addressing additional buying influences within the clinical setting. Our team redirected their sales focus onto the professional risk management segment within the clinical community. By identifying key professional associations and meetings, we created a prospect database of approximately 300 risk managers in targeted geographies. Finally, we created a sales kit to address the critical-to-quality concerns of the risk management community. Additionally, a senior partner organized and attended a field sales trip with the client.
Results
Our client found that its sales cycle shortened and its profit margins grew without a corresponding increase in the cost of doing business. By focusing our client on the prospect of embracing the value of the service, on the budget and means to procure the service, and the authority to execute a deal, we were able to position the business for sustainable growth. | 
