Optimizing AI Strategy for Healthcare
Client
A major health insurance provider with top 3 market share.
Challenge
Our client wanted to evaluate AI efforts across the enterprise to identify opportunities for innovation and determine their investment level.
Approach
First, we conducted Opportunity Analysis workshops to identify significant themes in which AI could add business value. We then evaluated the opportunities against the overarching enterprise strategy, individual business unit priorities, and competitive trends to create a comprehensive AI strategy across near-term, medium-term, and long-term horizons.
We socialized our strategy with the C-suite and Board, receiving enthusiastic buy-in. Next, we identified 12 high-value initiatives and developed roadmaps with clearly defined milestones. To ensure financially sound implementation, we created success criteria for additional investment and a technology investment framework to make Build/Buy/Partner decisions.
Key Insight
While senior leaders believed AI was valuable, they needed help articulating how it would provide specific business value across the organization. Learning sessions to demystify the technology led to robust conversations and cross-functional engagement, resulting in increased momentum for AI initiatives.
Results
The enterprise moved all of the initial projects into production within a year. All projects broke even within three years and achieved ROI within five. As a result of the strategy's success, the organization increased its AI investment and grew its portfolio threefold over two years.
“BGP’s guidance allowed us to navigate the complexities of AI with confidence, resulting in innovations that have already begun to reshape our business for the better”
