Hospital Business Acumen: Understanding Hospital Metrics
It’s no secret that sales professionals have to deliver value to their customers. Everyone is talking about it. Before you can deliver value, however, you must understand what metrics are important to hospital personnel so that you can tailor your message to impact a key performance indicator (KPI) that is being measured today. Here some […]
Have You Heard the One About the Sales VP Who Went In for an Eye Exam?
A friend tells a story that may seem familiar to many of us. Several years ago—before GPS systems were commonplace–he was traveling by car with one of his sales representatives to visit an important customer. Although our friend had been to the account on numerous occasions, it had been several years and the landscape had […]
10 Deadly Sins in B-B Sales
Recently we had an opportunity to have a dinner meeting with several successful Vice Presidents of Sales in the MedTech industry. While none of them compete with each other, each manages a sales organization that excels in their industry and has the sales results to prove it. We asked them what pitfalls or obstacles they […]
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 […]
Getting Ready to Launch a New MedTech Product? Here is What Sales Wants to Know From Marketing!
In an environment of rapid technological change, new product introductions in the MedTech industry can be puzzling to clinicians and buyers at hospitals, clinics, surgery centers and medical offices. The customer’s world appears to be awash in change creating more questions than answers. “What prompted the change?” “Is my current product deficient in some way?” […]
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 […]
Negotiating the Complex Sale: What Hospital Procurement Knows About You!
If you sell to hospitals, it is imperative that you understand there is a new normal in hospital strategic procurement. We will use this as a generic term to also include hospital supply chain management, materials management and purchasing. Each of these terms are often bantered about and while they are not synonyms for each […]
How Marketing Can Help Sales Win With Cost Crusaders!
You know who we are talking about. The Cost Crusaders are Strategic Procurement, Purchasing, Materials Management or Supply Chain depending upon the organization. While many of these professionals also focus on value there is a significant portion that are blinded simply by their desire for the lowest cost and they are relentless in this pursuit. […]
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 […]
