How to Support Innovation, Drive Efficiencies and Reduce Costs in a Value-based Healthcare Environment
At last year’s JP Morgan Healthcare Conference, SGK Health spoke with a number of companies about how technology is advancing healthcare, and how design thinking can help confer efficiencies and maintain a human-centric approach as new value-based models are explored, tested and realized.
This year we bring a different but related set of conversations to the conference that emphasize the importance of supporting innovation, driving efficiencies and reducing costs in an increasingly value-based and consumer-centric healthcare environment.
We have identified three critical pillars to success:
1. Effective Brand Engagement: The strength of a brand depends on the depth, consistency and appeal to which it connects with a customer. Continuous and consistent engagement that empathetically connects with customers’ needs is the key to gaining and maintaining brand adoption, trust and loyalty.
2. Global Omni-Channel Content Management: A brand can only be effective if it remains relevant and engaging. Consistent messaging across all global marketing channels is critical to success. Global, omni-channel content management and optimization ensures targeted messaging, consistent brand presentation and real-time responsiveness from customers.
3. Marketing Supply Chain Optimization: Quick, efficient and effective delivery of branded marketing messages and products depends on the self-sustaining continuous improvement infrastructure that is in place to support it. With the right infrastructure, process and stage gates, engaging branded marketing material and products can be continually and flawlessly delivered while remaining consistent with the original branded intent.
Healthcare companies that have achieved measurable results in each of these areas include:
Effective Brand Engagement. A global leader in medical devices and diabetes management created a successful new patient-centric and empathetic brand while reducing production costs and launch timing by 50%.
Omni-Channel Approach to Global Content Management. One of the world’s largest and most successful nutritional companies built a global, consumer-facing brand and content management system that improved quality output, efficiency and global brand consistency while enabling local marketing material adaptation. The company achieved revenue growth of 12% and 15% during the last 2 quarters respectively while enjoying a 63% year-over-year stock price increase.
Optimized Marketing Supply Chain. A global top 10 healthcare company re-engineered its labeling and artwork supply chain, including roles and responsibilities, to achieve $3.1M in annual hard cost savings and $6.8M in annual labor hour reductions.
How might your organization become better poised to win in the new era of value-based care? Let's have a conversation.