While the life sciences industry has experienced pressure to adapt to evolving healthcare needs since its inception, those pressures have never been stronger than those facing the sector now. Economic and reimbursement challenges continue to constrain pricing and pipeline output continues to lag. At the same time healthcare consumers increasingly require greater data, transparency, efficiency and personalized solutions. Getting the plan and tactics “right” from the onset has never been more critical. BDF believes that strategy development must be aligned with these defining trends, but always anchored on the one constant in the industry – the need to continually improve outcomes in the treatment of patients.
The BDF Approach
BDF professionals utilize a tried and true consulting methodology and project management discipline to develop actionable strategic planning and recommendations based upon:
- Firmly established objectives: Each project is kicked-off with identification and agreement on project objectives and scope. All stakeholders must be aligned as to requirements, tasks and timelines to ensure that recommendations developed represent valuable and practical engagement output.
- Rigorous and focused fact-gathering and analysis: The first workstream of any engagement consists of a thorough assessment of the current state leveraging BDF’s existing knowledge base and complemented via primary and secondary research and analysis.
- Clear-eyed assessment of options and alternatives: Senior-level BDF team members participate in analysis interpretation to evaluate opportunities and issues. The majority of engagements include consultation with BDF’s broad network of healthcare professionals to hone analytical conclusions and prioritize findings.
- Rapid identification of opportunities: The BDF approach leverages intense up-front research and analysis to quickly identify a set of potential answers that are evaluated and iterated with senior-level client representatives as well as industry experts.
- Development of strategic recommendations: Potential answers are quickly screened and refined to develop a prioritized set of recommendations aligned with an organization’s business goals and strategic imperatives.
- Pragmatic and actionable strategy and tactics: The majority of engagements include a tactical execution component. BDF believes that an elegantly-designed strategy that lacks clearly-defined implementation steps is only half of the necessary solution. BDF identifies and organizes a highly-detailed set of implementation requirements and worksteps to realize the full benefit of the strategy in a practical and efficient manner.