Remarkable Long Term Care (LTC) market entry takes the Canadian business of a MD&D manufacturer to a whole new level!

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CanSummit consulting area(s) referenced in this case study: Accelerate Canadian Market Penetration, Enter Canadian market

CanSummit consulting service(s) referenced in this case study: Canadian Business Case, Product Market Fit, Health Canada Regulatory Solutions, Market access solutions, Canadian Distribution Partner Solution, Canadian Pricing Strategy, Canadian Competitive Strategy, Canadian Positioning & Value Proposition, and Canadian launch plan development

Medical device description: A portfolio of medical consumables in the clinical areas of wound care and infection prevention 

Medical device geographic region of origin: North America

Business challenge/ Project objective: The medical device manufacturer historically had a Canadian acute care focused business model which was entering a maturity stage. The manufacturer was looking for ways to get back to accelerated sales and profit growth.   

Our approach: We approached this challenge from a holistic, health care system and commercial strategy focused perspective. We knew that in order to help the medical device manufacturer achieve its sales and profitability goals, it will be important to find the value sweet spot that considered market conditions, customer criteria, competitive environment, overall clinical and economic value being created, and manufacturer’s commercial skills & capabilities to name a few. 

Our diagnosis: We reviewed the current revenue streams of the manufacturer and benchmarked them against the market potential of various Canadian market segments. We then identified and prioritized the most promising growth opportunities.  This resulted in our strategic recommendation for the manufacturer to Enter the Long Term Care market segment in order to accelerate its sales growth and profits. 

Our solution: 

We developed and helped operationalize a Comprehensive Long Term Care Market Entry Launch-in-a-Box Plan for the manufacturer as our solution. We undertook the following specific actions and delivered all components of the plan in partnership with the commercial teams of the manufacturer:

  1. Profiled the Canadian LTC market segment specific to the manufacturer’s product portfolio using an extensive Canada wide primary voice of the customer research and desktop research approach 

  2. Qualified and quantified the LTC market opportunity specific to the manufacturer   

  3. Developed a detailed business case complete with various investment scenarios 

  4. Developed, prioritized, and recommended the optimum Go-to-Market model that balanced the market potential of the opportunity with available resources and timelines 

  5. LTC Business plan

  6. LTC Marketing plan

  7. Identified LTC sales competencies

  8. Proposed enhancements to the current sales coverage model to enable LTC sales      

  9. LTC sales plan down to territory level 

  10. Delivered sales team training and in-field implementation support to operationalize the strategy

  11. Reimbursement strategy

  12. Channel partner strategy

  13. LTC pricing strategy

  14. LTC competitive strategy

  15. LTC value proposition

  16. LTC marketing communications plan

  17. LTC sales training plan

  18. LTC market launch

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Project outcomes: The main outcomes of the project were as follows: 

  • We identified, qualified, and developed a >$100 MM market potential opportunity for the manufacturer in the Canadian LTC segment 

  • Manufacturer created a new business division and a dedicated LTC sales force as a direct result of our project work and strategic recommendations

  • The manufacturer is now successfully active in the lucrative Canadian LTC market segment and continues to realize strong growth trajectory 

Key takeaways: 

  • Across Canada there has been an active push within the health care system to minimize the alternate level of care (ALC) hospital stay days i.e. when a patient is occupying a bed in a hospital and does not require the intensity of resources/services provided in this care setting, the patient gets designated as ALC

  • This phenomenon has really opened and continues to expand the market potential of community based health care channels like long term care and home care

  • However, these community based channels of long term care and home care behave and purchase very differently from the traditional acute care channels 

  • MD&D manufacturers looking to boost their sales and profits from Canada should seriously consider optimizing their business approach to the LTC channel and recognize the differences between this channel and the acute care market    

Important policy note: It is always our policy to protect our clients’ confidential information . Given the highly competitive nature of the MD&D market, our clients need us to keep their strategic project investments made with our firm as confidential . For this reason, we do not publish client identification information in our case studies. If required, we would be pleased to arrange for client references from this project for prospective clients, provided the prospective clients do not have a conflict of interest with this project’s client.    

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