Medical Device and the Future… Medical Economics
Ms. Salimbene has spent her career in the Medical Device Segment. Her comprehensive expertise in Sales, Management, and Marketing ranges from start-ups through Fortune 500 companies. Her collaborative leadership style and genuine passion for success have gained her a leadership award from Johnson & Johnson, and top sales and marketing awards from other companies where she has worked. For more information, please visit her LinkedIn Profile.
If you have had a chance to read my last blog, “The Impending Change of the Medical Device Sales Rep,” you already know that, as a rep, I stressed the importance of being comfortable in the space of “Hospital Economics.” This is not limited to number-crunching, but rather absorbing the culture of the C-Suite and truly understanding the climate so you may become an asset in solving the key obstacles the CEO/staff face daily with medical device products and companies.
You, the sales rep, are the product expert. You already have a quality product in the right place with the right price and promotion. But do you? If Marketing were that easy, there would not be companies that do nothing but sell their Marketing plan templates or complete your marketing plan for you (at a cost of course).
Today, Medical device companies are diligently at work devouring each other in acquisition after acquisition. Hospitals are on a quest to devour the Physician practices one by one. Sales reps are yo-yos, being bounced from company to company.
The big question for us all is: Will this environment reduce health care costs for everyone and provide more of an ROI so we can reinvest back into our companies and customers? The adept masters say NO! “Hospital acquisition of physician practices leads to higher prices,” adds Paul Ginsburg, Ph.D., president of the Center for Studying Health System Change, a non-partisan think tank that studies the healthcare industry.