Innovation Is Key for the Future of MedTech
It was another great year at The MedTech Conference. Alexander Group (AGI) was again a proud sponsor of the event and had the opportunity to present timely industry research and trends. Over the course of the three-day event, industry leaders shared some of the latest insights in innovation and commercial execution and discussed the overall future of MedTech.
Much of the discussion focused on innovation and how to improve the patient experience. The digital revolution and the emergence of connected products has become an industry reality. Value is moving from a physical product to the information the product collects. Companies are turning to cutting-edge technologies and services including data analytics, cognitive analysis, artificial intelligence, interoperability and collaboration tools in an effort to improve patient outcomes while reducing costs.
During our presentation, we discussed AGI’s recent research specifically around how these new technologies and services are compelling organizations to rethink their go-to-customer strategy. To meet the needs of a changing healthcare market, customer-facing organizations are evolving and refocusing their sales models on selling increasingly complex solutions.
As the buyer journey changes, sales deployments are shifting away from simple generalist roles with clinical specialist support. Instead, deployments are moving towards complex strategic, sales support and customer success roles that will drive greater demand and improve account expansion at a lower SG&A expense. In fact, there has been a 37% increase in KAM, clinical specialists and junior reps since 2016. It is important to note, however, that these significant headcount mix shifts also come with an increased level of complexity for the organizations to onboard, manage and enable these resources.
The healthcare industry is evolving. Organizations need to have a plan in order to keep up the pace. AGI healthcare practice leaders have the knowledge, expertise and vast database to help your commercial organization orchestrate a successful future. Contact us today to get started.
If you missed our presentation at this year’s conference and would like to hear more highlights from our ongoing commercial research, please contact us.
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