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Finally, the day has come when your company is ready to launch the product and wanted to sell medical devices to doctors and IDNs in which any hospital will readily invest.
After months of hard work in the development of the product and then approval from the FDA, you are ready to take your products in front of your prospects.
But you are clueless about
- How to reach your targeted hospital
- How you can effectively convey your value proposition
- Identifying and reaching out to decision-makers with purchasing power.
But let us tell you you are not alone. Many medical sales reps are facing the same issues.
And that’s why to help you to overcome these challenges, expand your target market and generate more revenues, we have written this blog.
In this blog, we are going to share full-proof tips for selling medical devices to hospitals that have helped our previous clients to generate more revenues.
Before that let’s understand how hospitals buy their medical supplies.
The hospital’s material management department determines the supplies that are required. Then they discuss with the clinical staff of the hospital about necessary medical supplies for patient care.
Once they make the list of all necessary supplies, they will start looking for vendors with proper licenses.
It would be great if you are already in their list and for that you need to make sure you reach out to them and to do that you can use an email database provider.
Yes, you must have a license to selling medical supplies to hospitals.
how to sell medical equipment to hospitals?
“It is not what you sell, it’s how you sell and why you sell”.
The ‘how’ and ‘why are very important aspects to convince your prospects to buy from you. There must be many people who are selling the same product with probably the same features and at the same price.
But your purpose of selling and your way of selling differentiate you from them.
And that’s why here we are going to discuss how to sell medical devices to hospitals and IDNs.
These methods will definitely help you to stand apart from competitors and make more sales.
1. Know and understand your target market
The only way to close more deals, and make more sales is to sell to only those who need your product. If you try to sell your product to someone who doesn’t require it, or who doesn’t have the budget to purchase it, they won’t buy it.
You must segment your market into territories and focus on high-value accounts that are in need of your products.
To understand which hospital to target, ask yourself certain questions like
- Who are the physicians at the facility
- What kind of diseases do they cure
- who are the patients
For example, you are selling a vitrectomy machine used in cataract operations. In that case, you must focus on ophthalmologists who are doing a large number of cataract surgeries and have the budget to invest in the product.
Targeting every ophthalmologist will not make any sense.
2. Demonstrate your complex product
Now that you are aware of your target audience, the next step is to fully demonstrate your product. You just can’t explain the features and benefits verbally.
To gain their trust and make them fully understand your product you must demonstrate to them the working of your product.
You must be thinking, how would you carry your big large instrument to the prospect’s place, right? You don’t need to carry that.
You can take the help of advanced technology like Medical animation, Augmented reality, or virtual reality to show the operation of your medical device.
This improves your scope of making sales, by helping your prospective physicians to get a clear picture of the product and how it will work in their facility.
3. Use performance metrics to show the value proposition
You have shown your product’s live demo with the help of modern technology to convince your prospects. But still, they would be in a dilemma, whether to invest in your product or not.
Till now you have followed the best ways to convince your prospects to invest in your product. Now it’s time to show why they should invest.
Remember, we told you in the first line it’s not what you sell, it’s why you sell. You must demonstrate performance metrics to your prospects to show the value proposition. This would help you to stand apart from your competitors.
You can use performance metrics like
- Improved patient care
- Reduce their length of hospital stay
- Reduced your cost.
4. Be engaged with the customer through the entire cycle
“If you will not take care of your customers, your competitors will”: Bob Hooey
The secret of closing the deal faster is to build trust and build genuine relationships with your prospects. Don’t just focus on selling medical equipment to hospitals anyhow, focus on how you provide the value. And for that, you need to be engaged with your prospects at every step of the sales cycle.
This includes continuous communication, providing them with support and guidance genuinely. You can visit them frequently, respond to their emails quickly and stay connected with them through virtual meetings.
This way you can stay connected with them and develop a strong relationship with them.
5. Show you are aware of their pain points
The one thing that quickly helps you to close the sales deal is talking in their language.
Yes, talking in their language is so important to convince them to buy from you. But how do you do that, right? You can talk in their language only when you can understand their pain points.
And when you talk in their language they understand that you understand their problem and you are actually helping them to solve it with your product.
For example, you have a product that helps doctors to do online consultations. At that time you must explain that this product will overcome the pain of losing the flow of patients due to covid restrictions. Moreover, they can provide immediate consultation virtually without making patients wait for long.
This will improve patient satisfaction, and they don’t have to wait in long queues. Here losing patients due to covid restrictions and patients having to wait for longer are some of the pain points of any doctor. Talking about these issues makes them realize that you understand their problems.
6. Focus on patients
Focus on the ultimate outcome. As a medical device sales company, you will grow when your prospects grow. And your prospects will grow by satisfying their customers.
Here the end user is the patient, and that’s why we focus on and emphasize the benefits of patients. This will help them to trust you and buy from you.
7. Take help from the database provider
Now you know how to convince your prospects to buy from you. But the question arises how would you reach prospects to convince them?
You must have tried many methods to get qualified leads like searching over google, searching over LinkedIn, and trying different digital marketing strategies, but still running off enough leads, right?
Then it’s time to contact some healthcare data providers that avail you of targeted, accurate, and updated data on hospitals.
Not sure where to find such a data provider? Your search for targeted, accurate, and updated data on hospitals ends at Ampliz.
Yes, Ampliz provides you with a comprehensive database of 9000 hospitals that are accurate, targeted, and real-time updated.
To know more about how Ampliz can help you to sell medical devices to hospitals fill out the below form. We will get in touch with you at earliest.
How To Sell Medical Devices To IDNs?
1. Collect the right information
Like hospitals, approaching the IDN you will have to follow the same process that begins with knowing them better.
Before approaching them get all the necessary information that confirms whether they become your customer or not.
The information like:
- Total number of physicians
- Number of facilities
- Facility type
- Facility budget
2. Engage with KOLs
While sell hospital equipment to IDNs, you have to pitch VP or c-suite executives, who are difficult to reach out to.
And therefore must look for a Key Opinion Leader in the network. KOLs are generally well-respected physicians within their medical community.
Developing a good relationship with them helps you to strengthen your message and sales strategy.
Such research demands a lot of effort. You can rely on Ampliz for such in-depth information if any facility. Ampliz provides you a 360-degree view of your prospective facility.
With Ampliz healthcare intelligence you can know your prospects better, pitch them better, and close deals faster.
Conclusion
Selling medical device to hospital is a complex process because of so many reasons. Selling a product that is directly related to human health and meeting sales goals often makes you feel overwhelmed.
But following the right strategy will definitely help you to generate more revenue by selling medical devices to hospitals and IDNs.
Frequently Asked Questions on Selling Medical Equipment
Where Do Hospitals Buy Their Medical Supplies?
Hospitals buy their medical supplies from various vendors who supply the products in a steady supply.
Where To Sell Medical Equipment?
One can sell medical equipment directly to targeted medical facilities. Apart from that, there are many platforms that help you to sell your new or old medical equipment.
How To Sell The Medical Device To Hospitals?
Selling medical devices to hospitals is a complex process, as there are many decision-makers involved and they contact many vendors before they choose you.
And therefore, you must follow some process that helps you stand apart from your competitors.
This includes:
1. Targeting the right market
2. Knowing their pain points
3. Show you the product demo
4. Show the value proposition of your product
5. Stay connected with them throughout the cycle
6. and last but not least focus on patients
This way you can sell your product to hospitals.
How Do I Sell My Medical Devices?
There are three ways of selling medical devices in the US.
The first step involves ensuring that your product meets the definition of a device.
As per the FDA, a medical device is an apparatus, implement, machine, implant, etc.
The next step is to determine the classification of your device. The device classification is based on the risk of the device which determines the marketing process needed to determine FDA approval for marketing.
And the last step involves preparing a marketing application by providing performance data or clinical data if applicable.
What Is The Best Way To Sell Medical Equipment?
Selling medical devices to hospitals is a complex process, as there are many decision-makers involved and they contact many vendors before they choose you.
And therefore you must follow some process that helps you stand apart from your competitors.
This includes:
1. Targeting the right market
2. Knowing their pain points
3. Show you the product demo
4. Show the value proposition of your product
5. Stay connected with them throughout the cycle
6. and last but not least focus on patients
This way you can sell your product to hospitals.
Is Selling Medical Devices Hard?
Selling medical devices is hard for so many reasons, which starts with there being so many decision-makers involved in hospitals.
Secondly, it is hard to reach out to them. Even if you reached out to them you can’t ask for sufficient time as they are busy with patients.
As these devices are directly connected with human life, it is stressful and meeting quota also gets overwhelming sometimes.
How To Become A Medical Device Sales Rep?
The medical sales rep is the most demanding professional. If you want to become one, you must
1) Pursue a basic education like a diploma or bachelor’s degree
2) Get the certification of either a certified sales representative or certified medical equipment, or certified sales representative.
3) Choose your specialization based on your personal and professional interest in your specialization and passion for the field.
4) Once you have decided your specialization, get hands-on experience in the field.
Following these steps will help you to become a medical sales rep.
