Are You RFP Ready?
For many of us the RFP is a way of doing business…but it is not without options. In this blog we will explore keys to developing a successful sales plan in an RFP process and how to connect with the buying organization’s underlying needs. The RFP process may be disruptive for even the most […]
Hospital Business Acumen: 16 Procurement Terms to Know
Is Strategic Procurement, Strategic Sourcing, Materials Management or Purchasing a call point for you? If it is, how well do you know their business language? Being able to communicate effectively with buyers using their vernacular is paramount to establishing credibility, having meaningful conversations and creating a win-win relationship. Here are some definitions and explanations that […]
Partnering with Procurement: Five Steps to Building Buy-Sell Collaboration
All too often sellers view Procurement staff as the dark forces that obstruct the selling process. They are the “black hats” that delay or stop sales. They are the commandoes of commoditization. Some sellers subscribe to the belief that Procurement is obsessed with price discounts and turns a “blind eye” to obvious product value. Consider […]
Understanding Hospital Charges, Costs and Payments
If you or a family member have ever been admitted to a hospital or if you sell to hospitals within the USA understanding their charges, costs and payments can be a bit daunting. Hopefully this blog will help to ease the pain and provide a greater level of understanding. In this blog we will cover […]
12 Ways Hospital Buyer Behavior is Changing! Part 2
This is Part 2 of our blog that discusses 12 Ways that Hospital Buying Behavior is Changing. If you missed Part 1 Click here and the link will take you to the article. In Part 1 we discussed the Power Shift to Sophisticated Buying, Analytics & Revenue Cycle Management, Demand Management, Further Supplier Consolidation, Self-Contracting […]
12 Ways Hospital Buyer Behavior is Changing! Part 1
Remember the good old days when you could walk into a hospital and go to a specific department without a vendor credential or signing in with procurement? When physician preference mattered? When department heads or service line directors could cut a PO or sign a lease agreement? When maverick buying prevailed? Well those days are […]
“Message from the Front”: Best Practices for Handling Price Demands in Healthcare Negotiations
Over the last several years, we have had the opportunity to work with a number of companies servicing the healthcare industry. While our discussions with sales managers and executives have spanned a broad range of topics, one of the most frequently asked questions is: “What guidance can you give our frontline sales representatives when faced with […]
Do You Know the KPIs of the Hospital Strategic Procurement?
As a sales professional, your performance is under scrutiny. Management has key performance indicators (KPIs) that they measure daily, monthly, quarterly and yearly on you and your counterparts. The most common KPIs are revenue versus plan, achievement of the assigned product mix, percentage of gross margin, win rates and expenses versus plan. Buyers in hospital […]
Does Hospital Procurement Only Care About Price?
Over the last few weeks we have had several conversations with various regional sales managers about the role of hospital procurement. With passion and raised voices, these managers argued that “hospital procurement only cares about price, you cannot sell them on value because they don’t care, they just want the lowest price!” They then asked […]
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 […]
