Case Study
Healthcare Services
Crafting the Product and Portfolio Development Strategy
Industry Segment: Healthcare Medical Device
Project Summary
A healthcare device company sought GANI's expertise to optimize their product development processes for scaling. We collaborated with this certified Minority Business Enterprise (MBE) to beta test a stage-gate process, which, after a successful 6-month trial, was refined and integrated. This streamlined approach allowed the client to concentrate resources on high-ROI new product categories and existing product line extensions.
The Goal
Instead of implementing an out-of-the-box product development life cycle process, our client approached GANI with the desire to tailor build a system that would allow them to stay nimble and efficient in the evaluation of new product opportunities. The client has a industry lead program that invites inventors and big businesses to tap into their unique business model to grow products and services that benefit both parties, but they needed a scaleable way to review all of these opportunities.
Our Process
Given the unique nature of their innovation cycle, we began this partnership with a 6-month trial period of a proven dual-path stage-gate process. During this time we worked with different stakeholders to identify gaps in documentation, data collection, market research and more.
Over the testing period, we found that a single path, stage-gate process with just 3 stages would serve our client better.
The Targets
We aligned with our client on building a product development life cycle (PDLC) process that could quickly and efficiently provide leadership with the details needed to make informed decisions. The solution would deliver:
- Review capability of up to 24 solutions in a year
- Provide a path for current product enhancements to take less than 3 months
- Provide consistent delivery of new products each quarter
Our Results
In the first 12 months after the beta test, the client successfully examined 36 different new product opportunities with no negative impact on their product development team’s workload. Additionally, they used the new process to take an existing product line through the process, enhance at least one feature every quarter for 18 months which resulted in 30 new clients.
Finally, in the same 18-month window, this stage-gate process facilitated 7 successful product or line extension launches that brought more than $500k in new revenue for our client.
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