In his video interview, Keven Zeigler, Vice President of Business Development at Symphony Health provided an example of a client situation where his firm was required to defend their business in the face of a new competitor. In the example he provided, the decision to switch to a new vendor had already occurred. Keven walked through his approach to retaining the business.
Consultants are often brought into situations to help address situations like the one shared by Symphony Health. In many instances, because of the urgency required, if you are a consultant already working with a client you may be pulled into this type of scenario with no preparation. Literally, hey can you come look at this with us please?, or be here ASAP we need help.
Please review the video interview with Keven Zeigler. Based on the interview and any outside sources that you wish to review, please provide a 1-2 page memo that addresses the items below.
Memo Topics:
Note: this is a fictional scenario.
You are a consultant with BlueCross BlueShield of Arizona (BCBSAZ), a healthcare insurance provider. Tucson Electric & Power (TEP), one of their largest clients, has told them that they are planning on switching their healthcare insurance to Cigna. TEP has all but signed the contract and reached out to BCBSAZ to let them know what is coming. BCBSAZ has a meeting the day after tomorrow with TEP to try and retain their business.
BCBSAZ have asked you to help them prepare so that they can retain this multimillion-dollar customer. In preparation for this meeting, BCBSAZ has provided you with their current contract with TEP, and their current rates and fees with TEP. BCBSAZ has obtained a high-level sense that price and the size and breadth of the physician and hospital network available from Cigna compared to similar options in BCBSAZ are reasons for moving their business.
It is noon and youve just been briefed on the points above. Tomorrow at 10AM you have your meeting with BCBSAZ. Your client will be available for you at 1PM today to answer any other questions
Now that youve had a few minutes to reflect (60 to be precise), what do you want to know from your client? Be specific. Why is this information important to your preparation efforts?
What secondary research will you seek out? What will this information provide you? Why is it important to BCBSAZs defense efforts and/or your preparation?
Please provide title, author and dates of publication if available and URLs/links to three secondary data sources that would be beneficial in your consulting efforts for BCBSAZ to help you analyze and address this issue. Explain why the information in these sources is beneficial in your efforts. Note: this research does not necessarily need to be specific to BCBSAZ, TEP or Cigna. What secondary research would help you prepare?
Selling on price is easy. Outside of matching price and/or discounting current rates to TEP, what one key idea would you recommend that BCBSAZ communicate/offer to keep their TEP business? Support your recommendation.
