Case Study: OverComing barriers

How Excelerant Accelerated A Company’s Journey To Market

OVERVIEW

A medical device manufacturer selling a next-generation hernia repair mesh had reached an impasse in its commercialization efforts.

The Company’s specific market niche had long been dominated by synthetics, primarily because synthetics are priced much lower than biologics. [Synthetics cost approximately $1,500 per procedure compared to biologics, which can cost up to $20,000.] However, synthetics are often associated with higher rates of post-surgical complications.

 The Company’s competitive edge is its ability to offer a safer, more cost-effective alternative — a biologic hernia mesh much closer to the price point of a synthetic mesh. This unique Value Proposition sets them apart in a heavily commoditized space.

 CHALLENGE

The Company’s competitor was deeply entrenched with longstanding contracts in place that were being regularly renewed. The person leading the Company’s commercialization efforts had been a key figure in healthcare with rich industry connections and trusted relationships. Access to Integrated Delivery Networks [IDN], Group Purchasing Organizations [GPO] and Regional Purchasing Coalitions [RPC] had never been problematic for him.

 However, since 2020, hospitals have become increasingly diligent when it comes to vetting Sales and National Accounts Representatives. This is largely due to reduced staff capacity and time constraints, resulting in a diminished desire to explore alternatives. Even with new technology emerging, particularly in med-surg, hospitals have largely stayed with incumbents.

 This trend toward greater selectivity essentially did away with the days of open access that reps had previously enjoyed. As a result, many hospitals simply renew contracts with incumbent suppliers year after year, often despite high-quality competitive products being offered at a 20% lower price.

 Despite six months of dogged efforts, the Company had struggled to gain traction and was at an apparent dead-end. The critical question became: “How can we ever displace entrenched incumbent suppliers and secure contracts for our superior hernia mesh in key Integrated Delivery Networks [IDN] when we can’t get in enough of the right doors?”

 The Company needed both access to decision-makers and key influencers, and a forum to present compelling, data-driven evidence of its product’s value and clinical benefits. This would necessitate re-establishing a network of key healthcare professionals within IDNs, GPOs and RPCs

 The Company turned to Excelerant, a healthcare consultancy with rich contacts across the healthcare spectrum that specializes in strategic and effective positioning of med-tech products and services for Value Analysis Committees, contract acquisition, and sales modeling and execution.

 EXCELERANT SOLUTION

Excelerant’s goal was to expedite access and ensure Company representatives were able to share their unique Value Proposition. Approaching the challenge from a National Accounts perspective, Excelerant  requested and received the Company’s targeted list of IDNs, GPOs, and RPCs. It then cross-referenced the list with its own list of existing relationships within major healthcare systems in order to make introductions on the Company’s behalf to the right individuals. The next step was to help the Company tailor its presentations to the unique expectations and needs of each individual target.

 OUTCOME / RESULTS

Within four weeks, Excelerant had secured meetings for Company representatives at pivotal IDNs. Notably, they successfully gained access and helped secure a contract with the second largest IDN in just two months.

 To date, Excelerant has facilitated access to all 20 organizations targeted by the Company – a 150% increase over previous levels of access. Even more importantly, 87% of initial meetings were with a key decision-maker and 100% of follow-up meetings involved a Key Opinion Leader who was able to review the Company’s unique Value Prop. Their story was being told, and told to the right people!

 When Excelerant was retained in January 2023, the Company’s top-line sales for the previous year were $41.42 million. By December 2024, that top-line had jumped to $69.30 million, a 68% increase.

 The Company continued to lean on Excelerant to further expand and deepen its network of fresh connections across major IDNs, GPOs and RPCs, and to secure additional contracts for their innovative biologic hernia mesh.

 THE COMPANY SAYS …

“Partnering with Excelerant transformed our commercialization approach. Their deep relationships and strategic insights helped us break through long-standing barriers in hospital systems. They didn't just open the right doors for us, we were ushered into rooms we’d never accessed before, allowing us to finally prove our value. Their relationships, strategy, and follow-through were game-changing!”

 National Director – Strategic Accounts