Reducing the Cost of Surgery
Our client is a world-leading supplier of surgical instruments and devices. In developed markets governments are forcing health care providers to reduce costs; in developing markets less affluent consumers have rapidly rising expectations for their state of health and well-being. With increasing numbers of operations, society will inevitably force prices down. Given this context, Innovia was asked to help find ways to capture more of the profit – a larger slice of a smaller pie.
Innovia systematically explored the cost of the surgical procedure, identifying where money pooled and likely inefficiencies be they organisational, medical or traditional. We identified a portfolio of new products, services or packages that our client could credibly deliver that could make significant reductions to the cost of a patient’s therapy as well as delivering more profit. These ranged from education packages for nurses and doctors, to performance guarantees for patients.
Our client was impressed by the breadth and structure of our work, and used it to help guide the company’s research and investment strategy.