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 […]
MedTech Sales Strategy: The Top 10 Competitive Tactics Used Against You!
Every deal has competition. In some, it is the pressure to “do nothing” and maintain the current status quo. On other occasions, it’s to use internal resources instead of investing in external solutions. In many situations it is a direct alternative to your product, service or solution. Competition is about winning and winning requires a […]
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 […]
Best Practices with Strategic Accounts
For every sales organization there are very large accounts that require extensive company resources. Whether you call them “key, national or strategic accounts” does not matter. Loss of even a single important account would create a significant revenue or profit shortfall that would be difficult and time consuming to replace. For many sales executives, effective […]
Lesson Learned: No Response! Why?
In a recent sales workshop a participant asked us for some help to solve a problem that perplexed her. We asked for some context before she asked her question. Here is the scenario she (we’ll call her Sally to protect her identity) painted for us rather graphically. Have you ever found yourself in this situation? […]
Do’s & Don’ts for a Successful Negotiation
Background No matter the complexity or size of the deal, there are certain Do’s and Don’ts that you should follow prior, during and following the negotiation. Your goal should be to reach a compromise that is fair and equitable to both parties. Remember–if you close the deal both parties will be partners. Negotiate a win-win […]
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 […]
Sales Call Preparation is for Amateurs & Rookies!
Let’s be honest most of you reading this missive don’t routinely plan for sales calls and you haven’t’ written out a sales call plan in years. This is not meant as a criticism. It’s just fact, based upon our experience and informal polls in working with sales organizations all over the world and in a […]
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. […]
“Negotiating the Complex Sale: 10 Questions to Guide Your Preparation”
Preparation is key to every effective negotiation strategy. Brian Mandell, Senior Lecturer in Public Policy at the Harvard Kennedy School, says that a good negotiator prepares by understanding fully what he/she wishes to accomplish. A great negotiator prepares by understanding what the other side wishes to accomplish. At the heart of your preparation should be […]