Advancing in the Evolving Healthcare Ecosystem
MedTech Companies Adapt to Emerging Trends
MedTech companies are adapting to the evolving healthcare ecosystem by addressing the following trends:
- Evolving patient populations, shifting care settings and data-based solutions now shape the future for medical device and diagnostic product providers.
- New MedTech products leverage artificial intelligence and advanced analytics to transform the patient and provider experience.
- Leading medical device and technology companies are adapting their go-to-market strategies to address evolving patient and provider needs.
- MedTech companies maximize their return on investment by creating efficient product launch strategies, using modern marketing approaches and redefining their sales organization structure.
Alexander Group’s MedTech consulting experts help medical devices and technology companies advance their go-to-market strategy and achieve growth objectives while achieving exceptional business results while improving patient and provider experience.
How We Help
- Commercial model transformations: Assess, develop and implement growth readiness roadmaps by analyzing market opportunities, identifying key growth drivers and prioritizing initiatives that align with your go-to-market strategy. Ensure that your company is well-positioned for sustained revenue growth and profitability. Structure your sales, marketing and service organizations to win in your market segment.
- Focused commercial model improvements: Accelerate revenue growth by improving select areas of your MedTech commercial model that require optimization. Redesign sales roles and enablement programs. Enhance marketing strategy and structure. Advance your service organization and engagement with customers. Improve revenue operations, lead generation, segmentation and targeting, job architecture and enablement programs that drive productivity.
- Annual commercial planning: Optimize strategy, structure, compensation and deployment to exceed next year’s growth targets while staying within budget requirements.
- Sales compensation: Develop sales compensation programs that align with Sales strategy while using incentive design best practices to ensure supporting quotas are robust enough to drive performance.
- Benchmarking & research: Leverage Alexander Group’s comprehensive database to determine how your commercial model investment and productivity compare to the MedTech industry. Monitoring and reforming your growth and profitability levers through benchmarking and research will help you find the right GTM strategy to drive revenue growth.
- GTM product launch: Ensure your GTM model is equipped to drive immediate results and exceed growth targets for your MedTech product investments.
Related Insights
Participate in Our Research
Open Opportunities- Customer Experience Survey Customer Experience (CX) is the overall impression and perception that customers have based on their interactions with your brand, products and services. Are you delivering best-in-class customer experience throughout all touchpoints of the customer journey, including pre-purchase, purchase and post-purchase interactions?
- Sales Compensation Trends Survey For industry leaders in HR, sales and sales compensation, participants will provide input on 2023 results and program goals and objectives for 2024. Focus areas include quotas, staffing and headcount along with sales comp plan changes around measures, weights, performance periods, MBOs, pay mix and leverage.
- Commercial Practices to Drive Profitable Growth & Valuation 80% of healthcare companies are growing, with 45% having revenue growth goals that exceed their 2022 growth rates. Most healthcare executives are confident that they can achieve their 2023 revenue growth goals, which is the most optimistic outlook since the start of the pandemic.
- Commercial Talent Management Strategies Healthcare firms that consistently realize profitable growth spend 32% less on sales turnover. Why? These organizations have developed effective strategies to support commercial talent management. Discover the five principles to implement an effective and competitive talent program.
- Healthcare Hospital Providers Survey Healthcare executives, physicians and surgeons were recently surveyed to determine their views on current industry trends and investments. From staffing and supply shortages to procedure volume and interaction preferences, discover what healthcare providers are prioritizing for the new year.
- Improving Marketing Pipeline Contribution The marketing channel mix is evolving, highly impacting demand generation performance. Healthcare leaders are investing over 53% more in demand generation which has led to a 36% increase in marketing qualified leads. Determining the right allocation of resources between different marketing channels and initiatives, however, is the challenge to increase conversion rates. How are your demand generation tactics performing?
- Revenue Operations Survey Over 200 executives in sales and revenue operations were surveyed across Business Services, Financial Services, Manufacturing and Distribution, MedTech, Health and Wellness, Media and Technology to determine the leading practices of world-class revenue operations organizations.
- Sales Compensation Hot Topics Survey Over 350 sales compensation leaders across seven industries provided insights on key sales comp topics including costs, quota planning and attainment, profitability, AI’s impact on comp, global comp practices, marketing comp practices and client/deliver services comp practices.
Upcoming Healthcare Events
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Precision Pricing: Unlocking Profit to Outperform Competitors Series
WebinarSession 3 | Cost-Plus Pricing: Stop Leaving Money on the Table
Intuitively, using cost-plus to set pricing would allow organizations to keep pace with inflation and ensure long-term financial viability. Yet, more than half of B2B organizations failed to keep pace with inflation in this past year. In this webinar, Avy Punwasee of Revenue Management Labs and Kyle Uebelhor of Alexander Group will outline how using value-based pricing in place of cost-plus is essential to commercial success.
Key Takeaways:
– Cost-based pricing versus value-based pricing
– Unlocking customer value and willingness to pay
– Understand the competitive landscape and how that will impact pricing decisions
– Determining the true financial value of your offering
– Change management considerations when migrating to a value-based approach-
Tuesday, December 12, 2023
2:00 p.m. – 2:30 p.m. ET -
Virtual
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Join our MedTech Community
Alexander Group’s community enables leading executives to share insights and takeaways for immediate use. Participants engage with sales leaders in interactive discussions while gaining knowledge on best practices, pitfalls and challenges.
Practice Leadership
Alexander Group Can Help
Is your go-to-market strategy focused on sales productivity to ensure profitable growth?