Our Healthcare, Wellness and Nutrition Experience
A Perspective on the Industrys Challenge
Today, healthcare sector participants – pharmaceuticals, consumer health and wellness, managed care, nutrition, medical devices and diagnostics, distributors, etc. – are facing a number of critical challenges and uncertainties. First, customers are displaying much more sophisticated and discriminating buying behavior – and much more price sensitivity – making it critical for companies to determine which demographic, needs-based, geographic, and customer segments to serve and how best to meet their evolving needs. In addition, the core buyers have changed, in terms of both who they are and what they require, so it is critical for companies to align on the portfolio of products and services that will best enable them to profitably meet the ever changing needs of their customers in a way that is differentiated from the competition. To compound matters, sectors are confronting the fact that the R&D model that has traditionally worked so successfully is no longer as effective, a factor that is paralleled with an increasingly stringent regulatory environment, which is putting higher levels of pressure on companies’ ability to get differentiated products to market in a timely and cost-effective manner. The digital world is challenging Healthcare as well as every other industry.
…and the Opportunity
The flip side of the challenges described above is that, now more than ever, there is an opportunity for leading edge healthcare companies to exploit the new market environment. First, there is a much greater appetite for and willingness among consumers to take responsibility for their healthcare decisions, especially regarding wellness and nutrition, which translates into companies increasingly engaging directly with consumers vs. providers. At the same time, given companies’ continued pressure on margins, they will seek cost effective innovation, as opposed to expensive but outdated innovation models, and research and deliver new treatment methods vs. simply delivering more and more “procedures”, all as a means for helping address the rising cost and treatment efficacy conundrum.
Within this evolving healthcare landscape, Cross Consult works with companies to fully diagnose their unique issues and opportunities, identify winning strategies, and build stronger organisations to drive differentiated and sustainable performance relative to peers.
How We Help Our Clients
We work with companies to help address their highest-value and most pressing issues and opportunities. We are question and hypothesis-led, enabling us to hone in on and address both the most critical sector-specific and broad-based issues. Today, healthcare executives are asking a number of crucial questions, including:
Consumer Health and Wellness:
In which of the product categories, countries, and category-country intersections (existing and new) is there the greatest headroom for value growth, where are we (or could we be) best positioned to capture the growth, and how should we allocate our investment to get at the opportunity?
In an increasingly undifferentiated marketplace in which private label continues to gain power and market share, how can we go to market with a unique and profitable growth proposition?
How can we tailor a profitable product/service offer to large, powerful customers that are increasingly making up a greater portion of our portfolio but that are also exerting significant pressure on margins?
How can we augment our organic growth strategy with inorganic, switches, and other business development avenues to accelerate profitable growth (vs. make only incremental gains)?
Areas of Expertise
We work with our clients to:
Define their value-maximizing product-service and geographic portfolio strategies
Develop ‘winning’ product / brand growth strategies
Determine attractive adjacencies to help fuel inorganic growth
Prioritize R&D efforts as input to developing ‘winning’ strategies
Embed capabilities, tools, and processes within the organisation to ensure top tier strategic management
Our experience spans a range of sectors, with particular depth in:
Consumer Healthcare and Wellness
Nutrition (Infant to Advanced Medical)
Medical Devices and Diagnostics
Distribution
Hospitals