Essential Skills of the New MedTech Account Manager
The healthcare eco-system is in flux as implementation of the Patient Protection & Affordable Care Act unfolds. New reimbursement models are forcing collaboration between payers and providers to improve patient satisfaction and health outcomes. As healthcare stakeholders begin to take more financial risk for patient outcomes, they will demand value-based products and services be provided. […]
Hospital Business Acumen: Form 990 & Why You Should Care!
If you sell to Not-For-Profit (NFP) hospitals one of the best kept secrets is Form 990 and the wealth of information it can provide to sales representatives, especially if you sell to hospital executives and the C-Suite. The Form 990 is the tax document that tax-exempt non-profit organizations file each year with the IRS. It’s […]
Why Hospital Strategic Procurement Doesn’t Buy More From You!
Selling to hospital strategic procurement can be much easier if you understand the metrics that they value or demand from their suppliers. Many of these are generated from the requirements of their internal customers. In general, each of these can be placed in the categories of delivery, cost, responsiveness, errors and defects. Lead Time on […]
Maximizing Your Healthcare Trade Show ROI in a Changing Environment
Call me old fashioned but I firmly believe that everyone that attends a trade show on behalf of their company should have specific show objectives to drive the trade show and company ROI. Furthermore, these objectives should be written down and approved by a senior manager before anyone is allowed to attend the show. Following […]
13 Questions You Should Be Able to Answer in Every Opportunity Review! Part 2
Within MedTech sales every sales professional manages a myriad of sales opportunities. Each of these is at different stages of the buying process within their “sales funnel.” It is good practice to review the most important opportunities with your manager. Best in class sales organizations do these reviews with a finite schedule, when key changes […]
13 Questions You Should Be Able to Answer in Every Opportunity Review! Part 1
Within MedTech sales every sales professional manages a myriad of sales opportunities. Each of these is at different stages of the buying process within their “sales funnel.” It is good practice to review the most important opportunities with your manager. Best in class sales organizations do these reviews with a finite schedule, when key changes […]
Most Common Reasons Why MedTech Deals Derail!
No sales professional wins every deal. Ideally they lose early in the sales funnel and not late so that they don’t waste company time and resource on opportunities that they cannot win. If you have qualified opportunities in your funnel that you have a fighting chance of winning then manage them carefully so that they […]
Selling Time is Sacred! Do a Time Management Check!
For many MedTech sellers January 1st began a new fiscal year and a new sales quota. For others their fiscal year starts April 1, July 1 of October 1. Regardless of when your fiscal year starts it’s always wise to take a few moments and reflect on three (3) important things: 1. How many selling […]
Is it Still a Hospital? The New Name Game!
It used to be easy. Hospitals were where we went for emergency care, certain types of surgeries, for labor and delivery or for in-patient treatment of acute or chronic disease. Most people thought of it as the destination if you were very sick or hurt. Hospitals were also easy to find because they had the […]
Early Warning Signs of Financial Stress in a Hospital
The hospital C-Suite is under duress. Each day they must carefully manage their scarce resources amidst a declining reimbursement, rising labor costs, a difficult credit environment and thin margins. As hospitals look for ways to increase the efficiency of their resource allocation MedTech suppliers must be aware of the early warning signs that the hospital […]
