Home Insights Catastrophic care market strategy

Catastrophic care market strategy

The challenge

Following the completion of a 5-year strategic planning process, a major home health organization recognized they were uniquely positioned, but lacked the right intel, to successfully message and ‘productize’ their Skilled Nursing services for a target customer segment within the workers’ compensation space. Given the complex and multi-faceted stakeholder and regulatory landscape, the organization needed a 360-degree view of the interaction model and decision-making process across the landscape to align components of the offering to the buyers of these services.

Vynamic was asked to help understand these key players, assist in the articulation of the organization’s unique value proposition for the target customer segment, and re-calibrate their go-to-market strategy.

The approach

Vynamic leveraged a variety of internal and client relationships to conduct detailed stakeholder interviews to better understand the key players within the Workers’ Compensation space and the needs/wants each group had of a skilled nursing service provider. These qualitative discussions informed the definition of value proposition differentiators and more detailed regulatory analysis and market sizing to quantify the opportunity to further expand the product/service offering in this space.

Vynamic delivered on the following areas over an 8-week sprint:

Stakeholder interviews

35 total stakeholders interviewed across 29 institutions and patients. Insights were summarized into detailed stakeholder customer profiles including value drivers and the interactions between all players for catastrophic care worker compensation cases.

Regulatory assessment

Summary of existing and future regulations that may affect stakeholders and reimbursement dynamics within the target market.

Market trend and sizing

Market opportunity projection s based on the total size of catastrophic injury claims across the U.S. and existing market penetration in certain geographies.

Final recommendation

Summary of market opportunity and various go-to-market strategies to further access target customers, including potential partnership opportunities.

The result

The organization decided to pursue business development discussions with one of the organizations Vynamic identified through the assessment, ultimately leading to the stand up of both a new program and strategic partnership.

Through this partnership, the client was able to grow their presence within the workers’ compensation space through multiple new case referrals and further refine their product/service offering to this target market.

About Vynamic

Vynamic, an Inizio Advisory company, is a leading management consulting partner to global health organizations across Life Sciences, Health Services, and Health Technology. Founded and headquartered in Philadelphia, Vynamic has offices in Boston, Durham NC, New York, and London. Our purpose is simple: We believe there is a better way. We are passionate about shaping the future of health, and for more than 20 years we’ve helped clients transform by connecting strategy to action.

Through a structured, yet flexible delivery model, our accomplished leaders work as an extension of client teams, enabling growth, performance, and culture. Vynamic has been recognized by organizations like Great Place to Work and Business Culture Awards for being leaders and innovators in consulting, company culture, and health. Visit Vynamic.com to discover how we can help transform your
organization or your career.

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