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Oct 2006
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Michael N. Abrams, M.A., Managing Partner, and Jack Nightingale, M.P.A., Consultant, advise health systems to invest in managing relations with key physician groups in their article, Building Revenue Through Stronger Physician Relations, published in the October 2006 edition of Managing the Margin, the publication of the Healthcare Financial Management Association.
The authors argue that one of the most underleveraged opportunities to drive revenue growth and improve strategic focus in health systems is the proactive management of physician relations. They propose that healthcare systems establish dedicated relationship managers for physicians, particularly for the physician groups that account for a large share of hospital admissions. This approach to managing major accounts is common in the commercial business world and it can readily be adapted to the healthcare environment. The authors show how quickly the investment in staffing and supporting the relationship management function can be recouped through its impact on hospital revenues.
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Aug 2006
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Michael N. Abrams, M.A., Managing Partner, and Mark T. Morgan, M.S.(R), Business Analyst, provide insights into how to build sales volume across the private banking and commercial banking segments in Riding the Wealth Transfer Wave: Facilitating Private-Commercial Cross-Selling, published in American Banker magazine, August, 2006.
The impending retirement of the Baby Boomers means a bonanza for the banking industry, as millions of liquidity events worth trillions of dollars will occur over the next decade. The authors detail the most important things that banks can do to increase cross-selling between their commercial and private banking units, and the impact that improvement in these areas has on their ability to compete for a slice of this business. The authors point to a number of specific, common lapses that adversely impact cross-selling, and summarize tested approaches to correcting them.
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Aug 2006
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Rita E. Numerof, Ph.D., President and Bill Ott, M.B.A., discuss the critical role of segmentation in moving from a product-centric to a market-centric business model in A New and Integrated Marketing Approach: Applying Segmentation in a Market-Driven Business Model, published in Product Management Today, August 2006.
A combination of factors in the current business environment require that pharmaceutical companies adopt a new way of looking at their business a market-driven, rather than product-driven approach. One of the most critical strategic competencies to build in the organization will be the ability to take a forward look at the market from the perspective of key stakeholder segments, and to translate that perspective into responsive products and market positioning. The authors discuss how the application of a market-driven business model impacts functional resource decisions, requiring significant change in product portfolio management and strategy implementation. They offer specific examples illustrating the alignment of R&D, Clinical Affairs, Reimbursement, Marketing, Sales, and other key functions with a market-driven approach to ensure sustainable commercial success.
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Aug 2006
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Mark T. Morgan, M.S.(R), Business Analyst, and Michael N. Abrams, M.A., Managing Partner explain the crucial role of infrastructure for the assessment of organizational effectiveness in Practical Tools to Measure Organizational Effectiveness, published in Chief Learning Officer magazine, August, 2006.
Assessment of the value of training and development efforts too often stops at the training room door. The authors describe how components of your existing role-design and performance assessment infrastructure can be used to improve the design and targeting of development efforts, as well as to allow evaluation of their impact on organizational performance. The authors note that measuring these impacts in a comprehensive way creates beneficial effects throughout the organization, and feeds back into improvement of the role-design and performance assessment infrastructure itself.
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Aug 2006
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NAI’s approach to developing high-performing major account managers is dynamically illustrated in our recently published article, On Upgrading the Engine in Mid-Flight: A Method for Developing Better Strategic Account Managers. Authored by NAI Managing Partner Michael N. Abrams and Business Analyst Lisa P. Bevilacqua, it was published in the 3rd Quarter 2006 issue of Velocity.
Experience has shown that the qualities that make a high performing sales person are not always sufficient to ensure continued high performance in a more strategic account management role. Trying to get a promoted candidate up to speed while in their new job is like trying to upgrade the engine of a plane in mid-flight by the time it becomes clear that the new account manager needs help, significant damage to relationships may already have been done. To avoid trying to upgrade the skills of a new major accounts manager while they are trying to do the job, it is imperative to evaluate and develop the candidate in advance of the promotional decision. In this article, NAI explains how to evaluate a candidate against critical competencies and prescribe targeted training or development to ensure that they can perform in key areas before they have to.
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