Over 50MM EBITDA turn around in 12 Months with North America Medical Company
The Affordable Care Act (ACA) changed the playing field of the entire Health Care industry in the US. To survive and profitably grow this medial company needed to quickly evaluate its nature and direction and come to terms with its legacy culture, obsolescent processes and inability to change – or face extinction.
After a series of ineffective annual attempts at “transformation” to regain profitability, the new CEO called Thinking Dimensions to guide the development of a new strategy and system to implement and align the company to the critical few goals through the following phases over a 12-month period.
- Assess the External / Internal environment to generate the most critical issues affecting the P&L.
- Engage the top 50 leaders ( of a 10,000+ employee company) to challenge, vet and come to terms with the current reality.
- .Develop and set urgency for a turn- around strategy to stabilize the business and align to 3 priority focus goals.
- Engage the next 400 leaders with a personalized implementation system that would break the 3 Strategic overarching goals into individual objectives and plans that they create and deliver.
- Deliver results measured through Free Cash Flow(FCF) changes and EBITDA.
- Delivered a 12 month change of over 50MM in EBITDA to regain profitability.
- Restructured the organization to make it more aligned and flattened which promoted better data driven decision making.
- Leaders actually used the Strategy to guide choices on which products to rationalize, market segments to serve – based on operating margin data not emotion.
- Embedded a strategic, repeatable and accountability based system that 450 top leaders now own to drive daily priorities and have quarterly checkpoints to make changes and modifications to plans.
- Using TDG’s process approach – that facilitates the development and delivery of strategic results - was more effective than previously used prescription models – where leaders were handed their plans without being engaged.