Health-Medic Labs

US-based healthcare diagnostics company

INDUSTRY

Healthcare

LOCATION

US

TIMELINE

May 2023 – Dec 2023

The client

Health-Medic Labs (name changed), a US-based healthcare diagnostics company, embarked on a journey to expand its revenue from $30 million in 2023 to $60 million by 2025.

With a headcount of 100 employees and 1,200 customers, the company aimed for rapid growth and sought solutions to enhance sales effectiveness, leverage digital insights, optimize operations, and explore direct-to-consumer (DTC) channels for revenue diversification.

Deliverables

Data Platform

Baseline KPIs

Data Warehouse

Automatic Data Extraction

Interactive Dashboards

Continuous Improvement

Requirements

Grow sales department

Enhance the effectiveness of the 20-member sales team to drive revenue. Tailormade solutions were implemented to generate actionable insights for informed decision-making and accelerate growth.

Improve operational efficiency

Streamline processes for efficiency, including turnaround time, resource allocation, and shipping management. A data ecosystem empowered with predictive insights was established, enabling proactive actions to stay ahead of the competition.

New engagement channels

Enable direct-to-consumer channels for new revenue streams. Custom solutions were developed to establish direct connections with customers, enabling Access Med Labs to own the relationship, data, and revenue.

Connecting analytics into efficient dashboards

Challenges and solutions

Strategic Growth Challenges

Limited scalability and operational inefficiencies didn’t allow Health-Medica Labs to pursue their expansion efforts.

Our team has developed and implemented a solution for management with key performance indicators (KPIs) to measure progress and guide decision-making.

We have also empowered our solution with AI-feedback mechanisms to learn from user interactions and enhance baseline KPIs based on data-driven insights.

Data Management Challenges

Manual data wrangling, inconsistent data quality, and data silos impeded decision-making processes.

For this specific goal, our team came up with an integrated data platform with data quality controls, facilitating its extraction to data warehouses and automated analysis from multiple sources.

Security and Compliance Risks

Concerns regarding data integrity, confidentiality, and accountability posed significant challenges to Health-Medica Labs’ expansion.

We’ve ensured robust data security, comprehensive audit trails, and accountability structures. Our cloud specialists have delivered the software meeting HL7 and HIPAA standards.

Health-Medic Labs achieved significant revenue growth, moving closer to its target of $60 million by 2025.

Continuous improvement, Health-Medic Labs remains poised to achieve its ambitious growth targets and deliver value to customers and stakeholders alike.