The Pacemaker: Making Medtech Tick

AUTHORS

Brian_Chapman_thumbnail
Brian Chapman
Principal,
ZS Associates
Tobi_Laczkowski_thumbnail
Tobi Laczkowski
Principal,
ZS Associates
Will_Randall_thumbnail
Will Randall
Manager,
ZS Associates
Matt-Scheitlin-London_thumbnail
Matt Scheitlin
Associate Principal,
ZS Associates
Andy-kach_thumbnail
Andy Kach
Associate Principal,
ZS Associates
Bhargav_Mantha_thumbnail
Bhargav Mantha
Associate Principal,
ZS Associates

About the Blog

ZS experts offer real-world insights on today's sales and marketing issues, trends, and strategies in medtech.

Value-Based Purchasing: Are You Ready?

Posted by Will Randall on Mar 23, 2017 9:04:25 AM


Several forces are driving significant changes in the healthcare market, prompting a shift towards value-based healthcare: The reimbursement landscape is changing.

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Topics: ZS Associates, ZS, medtech, abbott, Will Randall, value-based care, value-based purchasing, J&J Medical Devices, Stryker

To Sell to IDNs, Try Containment

Posted by Yuta Ito on Mar 16, 2017 2:16:08 PM


Recently, I was having a conversation with the vice president of sales at a medical diagnostics company—let’s call him Joe—on pain points and challenges that his organization is facing. He brought up integrated delivery networks’ consolidation and its impact on his sales strategy. The topic is by no means a new thing. In fact, hospital systems have been on a shopping spree for the last few years, and ZS has predicted that by 2020, the top 50 IDNs will manage 50% of all hospital admissions. What Joe was bringing to light were the implications of these integrations and how they directly impact his deployment considerations.  

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Topics: sales, ZS Associates, ZS, medtech, Yuta Ito, IDNs

Is Your Sales Force Deployment Consistently Aligned With Your Priorities?

Posted by Maria Kliatchko on Mar 9, 2017 12:00:00 PM


How you allocate and align one of your most costly and precious resources—the sales force—can make or break your company’s success. Continuous alignment is a process by which a company continues to optimize coverage of key accounts by keeping its sales force assigned to the right customers. It helps ensure that those with the most potential get the best and most experienced reps to service them despite personnel attrition, customer preferences and changes in the marketplace. Yet some medtech companies today have limited alignment capabilities and expertise. Most alignments are done at a geographical level, with all accounts in a territory going to the same rep or team of reps. Many update their sales force alignments only once a quarter, and some use rudimentary tools like Excel or a very basic, inflexible, hard-to-support homegrown system.

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Topics: ZS Associates, alignment, ZS, Sales Force, Maria Kliatchko, medtech, sales force deployment

Why Medtech Companies Should Implement Regionalized Sales Models

Posted by Pete Masloski on Mar 1, 2017 12:00:00 PM

This post originally appeared on Mass Device's Medical Design & Outsourcing site. 

In today’s dynamic healthcare environment, IDN consolidation and centralized medical device purchasing are creating significant pricing pressure on the medical device industry. In fact, on average, prices for costly medical devices have been declining recently, according to the Emergency Care Research Institute. Medtech business leaders, therefore, have to work to find ways to evolve and grow earnings in this highly competitive and challenging environment.

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Topics: ZS Associates, ZS, medtech, Pete Masloski, regional sales deployment, sales models

Invisible Brands: Where Are All of the Brands Within the Medical Device Industry?

Posted by Roz Lawson on Feb 21, 2017 9:00:00 AM


What do medtech brands have in common with Apple, Google and Coca-Cola? Not enough, it seems. We don’t do a good enough job of branding our products and services, and in an environment where we need to show value and build trust, this needs to change.
 

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Topics: ZS Associates, ZS, Roz Lawson, medtech, branding, Interbrand, invisible brands

How Much Do You Trust Your Sales Reps?

Posted by Andy Kach on Feb 14, 2017 9:00:00 AM

For as long as there have been sales reps, sales leaders have questioned how much they can trust information coming from those reps. It’s a sad state of affairs that many companies don’t trust their sales reps to provide data that’s accurate enough for the organization to act on. The truth is that some reps will provide false information to help themselves, particularly when it can be linked back to incentive compensation. While a few bad apples give the industry a bad reputation, it’s much more important to remember that most reps are trustworthy and have information that can be extremely valuable to the organization.

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Topics: incentives, sales compensation, sales, ZS Associates, ZS, data, medical devices, medtech, Andy Kach, targeting, segmentation, 2017

Five Key Data and Analytics Trends for 2017

Posted by Bhargav Mantha on Feb 3, 2017 9:51:26 AM

Last year was a very interesting one in the field of data and analytics. On one hand, we saw many crystal balls being shattered. (Remember FiveThirtyEight.com’s election prediction?) The surprise Brexit vote and Trump’s win led some to declare that the age of data is dead. On the other hand, the investment in business intelligence and analytics was extremely high and continues to grow at a rapid pace. I believe that 2017 will be an even more exciting year and analytics will shape a lot of events related to business and beyond. Inspired by my colleague Brian Chapman’s post on the medtech trends for 2017, here are five key trends in the field of data and analytics—in medtech and beyond:

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Topics: Bhargav Mantha, ZS Associates, ZS, Analytics, data, medtech, 2017

Navigating the Dotted Line: How to Make Complex Sales Team Structures Work

Posted by Pete Masloski on Jan 18, 2017 12:00:00 PM


The traditional field selling role has evolved from what once was a group of autonomous individual contribu­tors to teams working in a coordinated fashion with a variety of stakeholders. For example, there now are more key account managers calling on IDNs, and also more specialized support roles such as reimbursement special­ists, clinical specialists, telesales and medical science liaisons. Obviously, this evolution comes with growing pains, but those pains can be allevi­ated with the right team structure and the appropriate operating capability.

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Topics: sales, ZS Associates, ZS, medtech, Pete Masloski, team selling model

The Year That Medtech Looks Inward

Posted by Brian Chapman on Jan 11, 2017 11:58:38 AM


Last year, I wrote a set of predictions for 2016 that were a bit too ambitious. While I still feel good about every one of them, I got ahead of myself in the speed with which they would unfold. We will see a tech disruption, and we are finally making use of all of our outcomes data, but both have been slower in coming than I had hoped.

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Topics: ZS Associates, ZS, medtech, Brian Chapman, 2017

The State of Major CMS Health Initiatives: Winners, Losers and the Impact of the Trump Administration

Posted by Tobi Laczkowski on Dec 14, 2016 9:00:00 AM


If we thought that change was accelerating in the last couple of years, we may be in for a “You ain’t seen nothing yet” moment. In the past several days, President-elect Trump nominated personnel to lead the Department of Health and Human Services (Rep. Tom Price, a Republican from Georgia) and CMS (Seema Verma, a health policy consultant). Not surprisingly, both are allies, and have their eyes on “repealing and replacing” the Affordable Care Act. Repealing is the easy part, but replacing it will be much more difficult. The two of them have actively spoken out against value-based payment programs, including the bundled payment initiatives, and Price previously has introduced legislation specifically to dismantle those programs. He also has criticized the Comprehensive Care for Joint Replacement (CJR) program, saying that CMS has overstepped its authority in rolling it out. 

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Topics: ZS Associates, ZS, Tobi Laczkowski, CMS, Trump, Bundled Payments for Care Improvement, BPCI

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