How We Quadrupled One Client's Business Valuation

Andrew Bodis
I can see patterns. It's one of my greatest strengths. Patterns in life, business, media, interfaces. My thirst is for information.

Rx Co*, a maturing software company simplifies the process of managing 340B for their clients to maximize drug replenishment savings.

We met Jon when he joined as VP of Sales at Rx Co*, a maturing software company that provides compliance solutions to hospitals and specialty pharmacies. He was brought on to grow market share, with the goal of the company being acquired within 2-3 years.

Jon was ambitious. We were up for the challenge.

Background

Rx Co simplifies the process of managing 340B for their healthcare customers, so they can maximize drug replenishment savings.

Hospitals and pharmacies who participate in the program will typically perform over a million drug dispensations in a month.

Rx Co powers those transactions with its proprietary software, which quickly leads to complexity. Mass data is flowing in from multiple sources, in many formats, and must be processed instantly and accurately.

RX Co began the process by incentivizing the internal team to work on product improvements. But after years of stasis, they were too out of touch with current approaches and technologies and couldn’t offer good enough solutions.

A radical leap forward was needed.

The company turned to recruiters to bring on fresh talent with fresher skills. But mass technical debt and outdated infrastructure, paired with the company’s mid-Florida location, failed to attract the right players.

Solution

When Jon finally approached us, we started by collaborating on a strategy to immediately stabilize the legacy system while concurrently replatforming the technology. Then we smoothly migrated existing clients over to the new system one by one.

At the outset of the engagement, we created a prototype that the sales team leveraged to attract 10 new customers ten weeks before the functioning software was delivered.

The updated system featured an impressive new user interface and replaced the outmoded data processing with new methods and scalable architecture that are still paying dividends in customer satisfaction.

Results

In just one year of working with The Development Factory, Rx Co signed on more new clients than they had over the past ten years.

We’re not an outsourced solution. We are a deeply integrated part of all our clients’ businesses. A team as a service.

For Rx Co we provided an experienced Product Strategist, Product Manager, Tech Lead, UX Designer, Engineering Team, and Quality Controllers - all the roles needed to deliver the results. That’s how we helped Rx Co get there faster.

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