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. […]
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 […]
What Do the Hospital “Cs” Think About? The 13 Ps! Part 2!
Every day sales reps descend on hospitals with an intense desire to get to the coveted “C” suite. They want access to the carpeted area of the hospital because that is where the executive team resides. In the language of business, C-suite players are the individuals who are responsible for effective financial and human resource […]
Tips on Selling to the Hospital or Healthcare System C-Suite: Part 1
Introduction In today’s’ rapidly changing healthcare environment, every sales representative wants to develop a relationship with key hospital C-Suite executives. In some cases it’s to protect the existing business against a competitive threat, while in others, it’s to manage a new opportunity where C-Suite buy-in is paramount to success. Ensuring that the C-Suite members embrace […]
Eleven Easy Steps to Success with a Sales Channel: Part 2
In our last blog we presented the first five (5) steps to creating success with a channel partner. We advanced the notion that to receive a disproportionate “share of mind” with the channel requires a business strategy that leads to a differentiated relationship. A pillar of this strategy is “to help the channel grow […]
Test Your Sales Representative Hospital Business Acumen
This short test will provide a “guide post” of where you and your sales organization are positioned relative to Hospital Business Acumen. We hope that you find it interesting and thought provoking. Test Your Sales Representative Hospital Business Acumen 1. Our sales force understands how a hospital makes money and how it spends money. a. […]
Hospital Business Acumen: Are you Sales Representative X, Y or Z?
Here is an example. Imagine three sales reps (X, Y and Z) from three different manufacturers’ all vying to be the replacement vendor for a hospital that is going to purchase ten (10) mechanical ventilators at $25,000 each. Rep X currently has the business and a lot of long-term relationships within the hospital and Respiratory Therapy […]
Hospital Business Acumen: The New Sales Differentiator!
The role of the medical sales representative is changing. Hospital consolidation means fewer accounts with more buying power. Hospitals no longer need sales representatives as the sole point of contact to provide product information, conduct in-services or quote prices. Product knowledge can be obtained instantaneously via the web without the need to sit through a […]