Background and Challenge
An emerging leader in the digital health space had developed a novel digital-medicine and digital-health feedback platform but was unsure how to deploy and monetize the solution for long-term value creation and maximize value capture.
Approach and Recommendations
During the initial engagement, L.E.K. worked with executive management to define and articulate the company’s vision, strategy, business model, use cases and financial forecast over a 10-plus-year horizon that would maximize the long-term value creation. The work product served as the core communications tool kit for external stakeholders (financial investors, technology/pharma partners), internal stakeholders (employees) and boards of directors to align on the broader vision and strategy.
During a follow-on engagement, we translated the client’s new 10-plus-year vision and strategy into an actionable five-year commercial and product strategy and roadmap, customer value propositions, and clearly defined payment and value-capture models in the context of the evolving healthcare landscape, particularly the introduction of value-based care arrangements.
The client was able to clearly articulate its value proposition and financial strategy with customers, prospective investors and new recruits, emphasizing that its strategy and vision had the potential to address key customer pain points/unmet needs related to population management and consequently drive the company’s platform adoption over the long term.
The company subsequently successfully closed a substantial round of financing, which ranked among the largest digital-health financing rounds in recent years.
The client is currently implementing the growth strategy with a number of leading health systems and hospital organizations throughout the U.S.