Heartland Information Services provided medical transcription, but had very little market share and struggled to gain new customers.
They were operating at $4 million in the red annually.
Changing medical transcription services is an ordeal. Medical Records and IT Directors at hospitals were reluctant to switch and preferred more well-known providers.
Instead of targeting Medical Records/IT Directors with a technology strategy (like all competitors were doing), we targeted CEOs/CFOs to show how Heartland could save at least 20% and improve cash flow.
Our financial strategy struck home with top decision makers and increased Heartland’s revenue $20 million in three years. A larger competitor bought them.