Case Study March 29, 2024
Creating a Plan to Grow Specialty Pharmacy Services
Trexin helped a fast-growing specialty pharmacy liaison develop an actionable, 5-year roadmap for growth.
Business Driver
Trexin was asked by the CEO and Senior Director of Strategy of a specialty pharmacy liaison that partners with hospitals and health systems to build, develop, and operate their specialty pharmacy programs to lead a Strategy, Assessment, and Roadmap (STAR) engagement to ultimately provide an actionable plan outlining how the company could increase their revenue by 400%, grow their client base, and increase their margin over a 5-year time period, while expanding from a purely services firm to a blended services/software firm.
Approach
For this 6-week engagement, Trexin first helped the CEO of the company define a specific and measurable business goal and strategy. This drove all activities moving forward, and it was key that all stakeholders involved were aligned with these statements at every point in the process. Trexin then met individually with each of the 9 members of the executive leadership team to ensure that each unique perspective was being accounted for when considering what needed to be done to accomplish the goal and strategy. The information was next discussed in a virtual workshop to begin to transform the strategy into elemental tactics.
The team then had a 2-day on-site workshop, which Trexin facilitated to ensure alignment amongst the executive leadership team to finalize the tactics that the team wanted to focus on. During the workshop, the team went tactic by tactic, and each executive wrote down people/process/technology aspects that would be needed in order to execute the tactic being considered, driving conversation and allowing for these ideas to develop even further. The team also discussed the effort needed to execute on the tactic, the financial impact it would have when executed, and the gap involved with each tactic, which was done by analyzing the current state capabilities of the client and comparing it to the future state capabilities that would be needed to execute the strategy. This information was then gathered and transformed into a set of project charters.
Results
Trexin successfully gathered all of the team’s thoughts and organized a set of 21 project charters to enhance the clients’ capabilities, ultimately forming an actionable 5-year roadmap. These capability enhancement projects represented the embodiment of how the tactics, and therefore the strategy would be executed for the client to attain their business goal of 400% growth over the next 5 years. Trexin organized the roadmap to allow for the company to grow revenue while continuing to run the business, and then included new projects over the course of the roadmap that would be key to growing and transforming the business as time went on, considering the intent to also become a blended services/software firm.
