Strategy development at the organization, product and technology level has been a foundational element of our consulting services since the firm’s inception. We believe that effective strategies must always remain focused on opportunities to deliver improvements in medicine and the provision of healthcare, and that the key driver of a successful strategy is its capability to address unmet needs of patients, providers, payers and other stakeholders.
For 30-plus years, BDF has worked with leading biopharmaceutical, medical device and healthcare organizations to address a wide range of strategic issues:
- Corporate and business unit strategy
- Strategies for clinical program development
- Market entry, expansion and access
- Product launch planning and positioning
- Process improvement strategies
- Organizational structure and resource allocation
- Commercial strategies including marketing, reimbursement, distribution and regulatory
Our approach to strategy development is rooted in rigorous fact analysis supported by deep experience and relationships in the industry. We employ an intense research and analytical program at the outset of any engagement to understand the current state of client strengths, weaknesses and goals, as well as critical market dynamics and needs. This understanding serves as a foundation to develop and test strategic options and an eventual strategic plan and roadmap. This tried and true consulting methodology is coupled with project management discipline to ensure a highly efficient and rewarding engagement process and client experience.
Critical elements of the current state assessment for any strategy engagement or situation include:
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- Macro-economic healthcare environment
- Current standards of care and existing products and technologies
- Unmet clinical needs and deficiencies associated with care standards
- Patient and provider challenges including cost, logistics and access
- Competitive frame and trends
- Substitute and disruptive technologies in development
- Pricing, reimbursement and regulatory situation
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- Strategic and business objectives
- Therapeutic areas and disease category mandates
- Strengths and weaknesses of products, technologies and service offerings
- Products in development and pipeline timing
- Technical resource availability
- Access to investment capital and financial constraints
- Client-defined boundaries on strategic initiatives
Strategy Development Process
Exemplar Strategy Development workstreams:
- Generate a set of credible options to effectively address the strategic issue or issues driving the engagement.
- Employ a range of rigorous analytical techniques including primary and secondary research, financial and statistical analyses to prove or disprove the viability of our hypotheses.
- Then, in conjunction with the client, we work to prioritize the options based upon alignment with client business objectives, speed to implementation, risk minimization, resource availability and sustainability.
- With options prioritized, we develop a comprehensive strategic approach to meet the client’s needs.
- Finally, since BDF’s philophosphy is to always provide actionable solutions, we then take the process one step further and make recommendations on tactical execution elements to provide the client with a roadmap for successful strategy implementation.