Selling Healthcare technology or Products
U.S. healthcare spending grew 4.1% in 2022 to 4.5 trillion dollars. That represents about $13,500 per person in the U.S. Spending on U.S. healthcare in 2022 accounted for 17.3% of GDP. The buying cycle in the healthcare technology space is taking a bit longer, but healthcare systems, multi-site practices, and other ancillary providers are buying new healthcare technology to address the challenges they’re facing.
Boost Productivity with Less Staff
Lease a Sales Rep investing in solutions to support and augment their limited staff. The most costly expense in healthcare delivery is staff. Well-trained and experienced staff are becoming harder and harder to find. There are national shortages of skilled and non-skilled healthcare professionals. It’s estimated that in 5 years, there will be a shortage of 3.2 million low-wage workers. Those are home health workers, nursing assistants, medical assistants, and supportive hourly workers. Therefore, healthcare technology buyers are seeking technology solutions that will allow them to work with less staff, but process more patients.
Healthcare systems across the U.S. are still being heavily utilized due to current COVID activity. They are also increasingly discharging patients to skilled nursing facilities and home health agencies. More of these patients are sicker. This means they need ongoing care at home or in another facility, placing further strains on the health systems already facing challenges with fewer staff.
From Expense to Investment
Healthcare technology buyers are scrutinizing more of their tech spend seeking to ensure it delivers more outcomes and value. But they are spending as they need to find solutions for these problems, as more patients are entering health systems and they have less staff to serve them.
Healthcare decision makers often see spending on health tech as an investment rather than an expense. They want tech that can help solve their problems. Some buyers even ask vendors to share the risk by tying outcomes to new solutions. There is room for negotiation with this model and could land a vendor a 6 or 7-figure contract for a health tech solution.
Let’s discuss getting you in front of the right buyers.