Why has Oliver Wyman's healthcare practice experienced a sudden 20% decline in project win rates for new business pitches this month?

Introduction

Oliver Wyman's healthcare practice has experienced a sudden 20% decline in project win rates for new business pitches this month. This significant drop in performance requires a thorough analysis to identify the root cause and develop effective solutions. I'll approach this issue systematically, examining both internal and external factors that could be contributing to the decline.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking this could be a recent change. Has there been any significant shift in the healthcare market or Oliver Wyman's approach in the past 1-2 months?

Why it matters: Helps identify if the issue is due to external market factors or internal changes. Expected answer: No major market shifts, but some internal process changes were implemented. Impact on approach: If internal changes, we'll focus more on recent operational modifications.

• Considering the specificity of the decline, I'm curious about the measurement. Has the method for calculating win rates remained consistent, or have there been any changes in how this metric is tracked?

Why it matters: Ensures we're comparing apples to apples and not dealing with a data anomaly. Expected answer: No changes in measurement methodology. Impact on approach: If consistent, we'll focus on actual performance issues rather than measurement discrepancies.

• Given the competitive nature of consulting, I'm wondering about the competition. Have you noticed any changes in competitor behavior or pricing strategies recently?

Why it matters: Helps determine if the issue is unique to Oliver Wyman or an industry-wide trend. Expected answer: Some competitors have become more aggressive in pricing. Impact on approach: If competitive landscape has shifted, we'll need to consider market positioning and value proposition.

• Thinking about the sales process, I'm curious about the team composition. Have there been any recent changes in the pitch teams or key personnel involved in winning new business?

Why it matters: Personnel changes can significantly impact win rates, especially in a relationship-driven business. Expected answer: Some turnover in senior consultants, but mostly stable. Impact on approach: If personnel changes are significant, we'll need to look at knowledge transfer and team dynamics.