Creating A Cohesive Product Strategy That Yielded Millions

Industry Segment: Healthcare Services – Group and Single Provider Practices

Project Summary

The GANI team partnered with a high-growth healthcare services organization to define a stage-gate product management process. This client's goal was to foster a more cohesive product strategy and direct their dollars to products that would make the most impact on their bottom line.

The Goal

As our client’s offerings grew rapidly, their team started to see gaps in their product strategy. The GANI team partnered with this client started in the first quarter of the fiscal year to identify the best products to bring “in-house” and then create an organized product management process to focus their efforts on creating a scalable process that would empower the client to invest in the products that would have highest potential to positively impact revenue and earnings.

Our Process

The GANI team built a product development life cycle (PDLC) process tailored specifically to this client’s needs. We outlined a custom stage-gate process made up of 4 steps: identification, evaluation, build, and launch. In addition to facilitating cross-departmental training in the new stage-gate process, our team integrated with the client‘s team to demonstrate the PDLC in action across eight different new products.

The Targets

The GANI team aligned with our client on target outcomes, including:

Building a tailored PDLC process to improve their products’ alignment with the market
Identifying 10 existing products that could be improved to drive revenue and earnings
Implementing this PDLC process quickly to make an impact within the fiscal year

Our Results

After creating a custom 4-step stage-gate process, our team led internal training to implement the process across the client’s operations, development, research, design, marketing and sales departments. We partnered with their internal team to guide 10 products through the entire PDLC, including business case evaluation, research with client advisors, reporting and analytics, and sales team training.

Within the first 6 months of implementation, our client successfully completed 4 product launches or enhancements. This targeted approach led to 30% market growth, driving over $4.5 million in revenue and $2.4 million in earnings.