National Provider of Interventional Radiology Services Case Study

Created a growth plan to increase traditional service revenues by 10% in the first year and newer procedures by ten times in three years.

Situation and Challenge

• Identify opportunities to help Company win back share from competitors in its traditional service line
• Provide management action plan to drastically accelerate expansion into new procedure types

Approach

• Performed detailed market analysis to identify drivers for existing referral patterns
  • Estimated market size and growth trends
  • Conducted phone interviews with existing and potential referrers to assess 1) referral criteria, 2) familiarity with clinical procedures and client
  • Mapped patient flows in two test markets and identified opportunity points
• Assessed internal processes and performance to identify strengths and improvement areas relative to referral marketing best practices

Key Tools

• Characteristics of High Performing Physician Referral Organizations Framework
  • Conducted diagnosis to benchmark current sales and marketing activities, tools, and resources against best practices
• Market and Competitor Assessment
  • In-depth assessment of two local market areas to understand patient flow by referral path and opportunity points
• Customer behavior segmentation to prioritize targeting and sales efforts
• The Nine Voices of the Market®
  • Conducted 40-50 interviews with  referring and non-referring physicians to understand referral criteria, market receptivity, and referral potential by specialty and demographics

Insights Led to Action

• Prioritized list of accounts to target to win back share
• Specific recommendations to improve Company’s expansion results include:
  • Sales Playbook detailing the most effective processes to be adopted by the organization (e.g., referral pipeline and sales force management)
  • Recommendations for required sales tools
  • Specific action steps to involve other parts of the organization (e.g., physicians and operations)
• Detailed implementation plan including required activities, ownership, and timeline

Impact

• Growth plan to increase revenues for traditional services and newer procedure types
  • Traditional service line by over 10% in the first year
  • Newer procedures by 2x in the first year and 10x within three years