II. Operational Support Services
Stratum provides the resources and expertise clients need to improve operations and enhance financial outcomes. No matter what stage a business is in (startup, commercialization or exit), we assist clients in strengthening core components that improve internal performance and elevate external market value. Our services include the following:
1) Corporate Governance
Stratum will review the operating structure to include rules, processes and common practices by which the organization managed. During our assessment, we will outline issues and areas of concern, as well as recommendations on corrective action such as proper management configuration for the business going forward.
2) Regulatory Services
Stratum coordinates with national partners to assist clients in navigating Food Drug Administration and the international CE Mark approval process. This includes any initial submission and all pre-work required to ensure accurate documentation for presentation to the appropriate governing body. Throughout the device or service development stage, Stratum can give the proper guidance to support the development and approval track. From the initial submission, bench testing, legal support and post-approval surveillance testing, Stratum can map out a cost-efficient approach and line up needed support/resources.
3) Payer/Hospital Contracting
Stratum specializes in expediting the hospital and payer contracting process for both new and existing products. Given our expertise and industry contacts, we assist clients in more effectively navigating the many hurdles associated with product approval. Stratum also works with clients to sharpen their product’s value proposition to be better prepared in advance of the supply chain evaluation/ approval process.
4) Sales and Marketing Acceleration
Stratum assists clients with all aspects of sales and marketing from the message platform, to identifying better lead generation tools and increasing their “close ratio”. To accomplish this, we assist clients in refining their strategic position to better align with key targets. Stratum can also create an integrated marketing plan with specific channel strategies that include everything from cold calls and direct sales, to trade advertising and social media. Whether a client is seeking to expand sales and marketing to new markets, or better compete in a highly saturated market, Stratum can work with them to increase overall sales and grow market share.
5) Turnaround Strategies
Given our expertise in maximizing business potential, Stratum has the tools to correct misalignment and poor decisions, returning a failing business to solvency. Through a comprehensive assessment, we are often able to identify and correct the root cause behind performance issues and restore operations and sales to a former state. Whatever state your business might be in, and regardless of the challenges currently you face, Stratum can assist you in identifying the best path forward to maximize recovery.
6) Spin Down or Exit Strategies
Stratum can assist clients with the effective execution of an exit strategy to carefully ensure maximum value throughout this transition. Whether this is being pursued as a growth or liquidation strategy, methodical planning should be done in advance to maintain the company’s perceived market value, minimize shareholder risk and expedite the sale/transition in a timely manner.