In an increasingly complex and rapidly changing environment, how will medical device companies continue to deliver growth?
Driven by an increased focus on outcomes, continually changing regulations and new rules of engagement with new and different buyers, you need to transform your customer facing organization.
Current industry trends point the way to successful medical device sales transformations:
- Grow and retain margins: Across the industry, margins are dropping and purchasing power has shifted from physician to purchasing committees and IDNs, while your ability to grow revenue is impacted by provider spending restrictions and increased competitor parity.
- Do more with less: Medical device companies are cutting sales cost as a percentage of revenue with reduced headcount and lower sales compensation. This has to be managed carefully to not impact revenue growth.
- Adjust sales motions: You need to integrate new customer-facing roles into your organization to address product commoditization and stricter regulations around buyer access. Seventy percent of respondents in a recent industry study note this issue as critical over the next three years.
Our practical approach, broad perspective and data informed decisions on every medical device client engagement will help you and your team align resources to meet your unique challenges and unlock revenue growth. Contact us today.
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