Selling in the Health Care Technology Space

 

nyu-langone-tisch-hospital-main-entranceThe U.S. healthcare industry's ongoing transformation creates both challenges and opportunities for technology vendors.
This change started in 2010 in response to changes in regulations, as a result of the Affordable Care Act (ACA).  Hospitals started buying up physician practices at an accelerated rate. They began and still are forming integrated systems so they are better able to coordinate care among physicians, hospitals and other parts of the healthcare delivery system. Doctors are becoming employees, and in larger systems are having a declining influence in purchasing authority. Although, they are still relevant and important.
The medical provider environment also began to see a shift bought on by the ACA as a result of dollars flooding the system to move hospitals and medical practices from paper based medical record systems to digital systems which began the transformation of patient data to electronic medical records (EMR/EHR) and web-based patient appointment scheduling and medical practice management systems.
The healthcare landscape is undergoing a digital transformation that has opened the door for vendors who are selling locally managed (in-house server) technology solutions and software as a service (SaaS) healthcare program management/delivery solutions.
The challenge that vendors face in selling to this vertical, is the shifting environment has shaken the foundations of technology providers and many are making a mad dash to hospitals, medical practices and other ancillary healthcare providers to sell their product, solution or service.
In large healthcare systems, based on our experience, there are typically 3-5 stakeholders each who have their own territorial nature.  Healthcare is a very territorial environment with many fiefdoms. These multiple stakeholders have to be approached in different ways.
You will encounter these types of people:
a. The Initiator-They find the vendor and starts a discussion.
b. The Decision Maker-Makes the actual purchasing decision.
c. The Buyer-Usually a purchasing manager in a larger organization who selects a vendor after input from management. Paper person, but does pricing comparisons.
d. The Influencer-They contribute to the specs and evaluation of the vendor. Does it meet their needs?
e. The User-They actual use your product/service/solution. Day to day operations.
Using multiple sales strategies, and channels (email, phone, social media, content) to reach these people will go a long way in opening the door, having a discussion, providing a quote and moving a prospect down the sales funnel to closing. Use an account based selling approach.
There are many opportunities for vendors to penetrate the healthcare vertical and for you to cut through the noise. One method that’s consistent to success is to be methodical and persistent. Just enough that you will rise above the rest and close more deals.
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