Mitigating Risk and Protecting Business Growth Thru Regulatory Advocacy
IWP is a national provider of pharmacy services to the Workers Compensation Industry.
In 2009, Boston-based Injured Workers Pharmacy Inc. sought help from Armory Hill Advocates to immediately respond to various state regulatory agency actions which threatened to adversely impact their business.
We moved quickly to build a government relations strategy to deliver immediate value thru monitoring regulatory activity in priority states, building relationships with key legislators and agency officials to educate them on this narrow aspect of the pharmacy industry. After working with Armory Hill Advocates for 18 months, IWP was positioned to recapture lost revenue due to previous state regulatory actions, strategically enter new markets, and continue to build their brand with lawmakers and regulators nationwide.
Objective: respond to a state regulatory action that threatened IWP’s business growth.
Actions: develop a robust multi-state government relations plan which included a system to monitor state and regulatory actions, educate agency officials and jurisdictional legislative committee leaders, develop industry coalitions, and leverage various industry association relationships.
Results: Armory Hill Advocates helped establish ongoing relationships with influencers and lawmakers, ability to enter new markets, and put in place a system which monitors potential policy changes that could adversely impact IWP’s core business.