Why Most MedTech ROI Tools Don’t Work!
In the consulting portion of our business we are often shown an exciting new ROI model that has been developed by a medical equipment manufacturer to enhance their ability to close more deals. Its purpose is to show C-Suite level executives why they should purchase their product by quantifying the financial benefits. Each ROI model […]
Why Hospital Procurement Matters!
Many domestic US sales professionals are surprised at the growing power and influence of hospital procurement in the purchasing process. They shouldn’t be. If they compared notes with their counterparts in Canada, Europe or other countries they would better understand the increasing importance and expanding relevance of hospital procurement. In this blog we are going […]
Strategic Procurements 10 Commandments for Managing the Hospital Buying Process
As strategic procurement gains more power, authority and influence within hospitals and health care systems they are gradually educating non-procurement personnel within the hospital on how “to engage and not engage” with sales professionals. We call this education performed by procurement within their hospital “Procurements 10 Commandments for Managing the Hospital Buying Process”. These are […]
HCAHPS: What MedTech Sales Reps Should Know!
What is HCAHPS? The HCAHPS (Hospital Consumer Assessment of Healthcare Providers and Systems) is a standardized and national survey that measures the patient’s perception of quality care provided while a patient is in an acute-care hospital. While it is pronounced “H-caps” it is also known as the CAHPS© (Consumer Assessment of Healthcare Providers and Systems) […]
Questions You Should Ask About Hospital Committees!
If you sell a MedTech product, service or solution that occasionally or always has to go to a committee for scrutiny prior to a purchase or contract here are some questions that you need to know. Don’t be afraid to ask these questions. You may not always get the answers but it’s a sin of […]
What You Should Know About Hospital Committees!
We have all heard the jokes about committees. For example: a committee is a group that keeps minutes but loses hours1 or a committee is a group of the unprepared appointed by the unwilling to do the unnecessary.2 While these are humorous, in general they do not apply to healthcare organizations. Within hospitals committees play […]
30 Words or Phrases That Resonate With Hospital Buyers!
Newsflash! Hospitals don’t simply buy products and services; they seek out quality solutions to solve problems. Healthcare professionals are looking for partners that can help them to fix gaps in service delivery and help them to avoid complacency in order to achieve exceptional results. If you want to connect with hospital buyers, it’s essential to […]
Selling to a Not-For-Profit Hospital? Could Endowment Funds Help You?
Most MedTech sales professionals don’t realize that when selling to a Not-For-Profit (NFP) hospital the funds for the purchase of their product, service or solution may come from the use of Endowment Funds. There are two types of funds: Permanent Endowments are those that have been restricted by donors and are monitored by the hospital […]
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. […]
Do You Know the Pathway to the PO?
Hallelujah you have just been told you won the sale. Now the next challenge is to get the purchase order (PO). Be careful about celebrating too soon, you are not home yet. You would be wise not to include this order against your sales goal at this time. Finally, don’t forecast it yet and above […]
