30M Product Differentiation and Market Expansion

Jeremy S. Richardson

Product Leader: Passionate about Quality and Equity in Education and Healthcare

Resume | LinkedIn

Problem / Situation / Objective

Fluency for Imaging had a foothold in small radiology groups, but no significant, large academic hospital systems.  For the product and for M*Modal as a whole, it was essential to grow into a viable alternative to entrenched competitor

Role I Played

  • Discussed opportunities and problems with team, saw and drove opportunity with new internal tech platform to develop: AI, NLP based  Assist/Guidance functionality 
  • Partitioned “multi-tenancy” epics to properly differentiate different problems of the same name to support distinct business and IT operations related problems
  • Managed creation of cost model around cloud hosting to understand business model as well as outline customer IT cost savings for pricing and sales messaging.
  • Consolidated product development management, including engineering, program, and QA, while effectively engaging and collaborating with UX
  • Mentored and supported new product manager in roadmapping, SWOT, requirements and user story capture, engagement with engineering, and customer engagement

Results

  • Fluency released major differentiating and competitive features: Assist/Guidance, Multi-tenancy, and SaaS / Cloud offering
  • Fluency for Imaging was able to capture multiple large academic hospital systems, opening broader market
  • Fluency for Imaging grew to 12M/yr, approximately 1/4 of the market, and earned $30M over 5 years while competing against a monopolistic competitor
  • Fluency for Imaging reached 1st in KLAS, the primary industry ranking based on customer feedback, for 2020

Takeaways

I helped build a truly worthy competitor in the radiology reporting market against a ruthless, entrenched competitor.  This brought real innovation, including effective use of AI to the space.  Radiology makes an essential daily contribution to every major patient diagnosis.  I’m proud of the outsized, essential effect I had on radiologist’s work and the challenge and difficulty of making the software feel like an extension of the user