EMM Group

Case Study - Strategic Market Entry Planning Ensures Long-Term Success for Healthcare Software Solution

A division of a large, multinational organization was seeking to introduce a new healthcare software solution. They had decades of prior experience targeting healthcare prospects for product and service solutions, but this software market entry was unique.  The application was an analytics platform designed to drive greater consistency for how a complicated disease state is diagnosed, treated, and managed through a suite of predictive analytics and corresponding recommendations.  The client turned to EMM Group to solve the challenge based on our established track record of using deep insights to develop an actionable go-to-market plan in the healthcare sector.

The Challenge

Despite decades of experience as a corporation providing solutions for the healthcare industry, the company knew this market entry plan needed to address a new set of stakeholders with unique needs and requirements. They also needed to determine the different decision-making structures at target customer organizations and establish a differentiated position for the solution in the face of intense competition.  

The Strategy

EMM Group focused initially on gathering pertinent background information on the market and the customer, then focused on understanding the customer value outcomes and adoption requirements for the new solution. We answered several key questions:

  • What is the current market landscape?
    1. ♦ What is the market size and growth rate?
    2. ♦ What are the relevant customer segments and their corresponding                needs?
    3. ♦ What are the competitive solutions?  
    4. ♦ What is the competitive SWOT for the new solution?
    5. ♦ Which customer organizations should we be targeting first?
  • What are the customers’ (the healthcare organizations) and end-users’ (clinicians) needs involving the care continuum and care management for this disease state?
  • How would the software’s use impact patient outcomes and the patient experience?
  • What is the optimal user experience?
  • What are the data and integration requirements?
  • Who are the key decision makers within the healthcare facilities?
  • What are their critical inputs that would affect a go/no-go decision?
  • What are the most important outcomes the customers are interested in achieving, clinically and economically?
  • What would be the likely adoption curve - how long would it take to buy?
  • What could be done to drive faster adoption?

These answers required a deep dive into industry benchmarking, direct market research with a sample of real world target customers, and competitive analysis within the new market.

This strategy involved in-depth interviews with multiple stakeholders (CMIO, CIO, CEOs, COOs, Physicians, Nurses, etc.) within the potential customer healthcare organizations. In addition, EMM Greoup completed dozens of hours of secondary research, data analysis, and economic modeling. As a result, we were able to provide clear and quantifiable recommendations for customer segmentation, solution attributes, solution positioning, customization options, and integration requirements to support the most efficient adoption curve.

The Solution

Several important conclusions arose from our research and analysis to help clarify the best way to enter the market, including:

  • Interest in and demand for the solution was very high among clinicians and healthcare administrators. However, it would need to compete for funding with other initiatives.  A clear value proposition with quantified benefits would help the solution stand out.
  • Significant barriers to adoption had to be addressed prior to purchase, such as integration with current software and systems, data standardization, and regulatory compliance.
  • Perceived value of the solution varied dramatically based on the clinical environment where it would be used, so a menu of pricing options and feature customization would be required.
  • Several additional features and capabilities would be likely to increase adoption rates and improve margin if incorporated into the existing solution.

We compiled all our research findings and results into a 60-page report that covered buyer personas, quantified value propositions, and market share forecasts. Our detailed recommendations included a plan to enhance the software solution’s features, strategic pricing, and accelerate adoption across both the US and Europe.

While the program’s launch is still in its planning stages, the client is confident that they’re entering into this market with a solid strategy for long-term success.  We look forward to additional opportunities to apply our proven approach and healthcare market expertise to similar challenges in the future! 

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