Client Impact


Turning Regulatory Expertise into Workflow Solutions

CHALLENGE

With the onslaught of government regulations, a large healthcare system and prominent law firm joined forces to simplify compliance processes. They were looking to productize their combined knowledge and expertise, using advanced technology to automate time-consuming processes. They asked our team to assess the market potential and viability of creating a workflow solution to help hospitals better cope with regulatory compliance.

APPROACH

We analyzed healthcare compliance processes and related costs, assessed technology readiness, reviewed competitive environment and developed potential business model. We help our client define the envisioned product – a new regulatory compliance and risk management platform – and articulate the integration of various solutions components – regulatory updates, legal insights, client document repository, productivity tools and support services.

RESULTS

  • Study identified real market needs and strong economic impact in that space. Annual savings for hospitals were estimated in the range of $1 million through direct cost savings and increased productivity.
  • Business case suggested high profitability potential while offering a three-year ROI of 230% to targeted hospitals.
  • We helped our client further define a framework to establish the terms of their partnership.