I had the pleasure recently to chair the third annual Medical Device Contracting and Strategic Accounts Conference in San Diego. On the opening day of the conference the bombshell was dropped: MedAssets was being acquired in a $2.7 billion deal and its GPO business being integrated with Novation. It certainly set the tone for the discussions. The big were indeed getting bigger, and it was never clearer that succeeding in strategic accounts is critical for medtech companies.
Read MoreTopics: strategic account management, medical products and services, medtech, Pete Masloski, contracting, key account management
We spend a lot of time talking about how important it is for key account managers to find areas of mutual value, create tailored solutions, innovate for their important accounts and develop programs that are cutting edge. In fact, this is a really good idea because it explores areas of new value and creates relationships that go well beyond the transactional ones needed to sell a commodity product. We eschew focusing too much on pure rebates and prices because it gives away value. I still believe this, but sometimes a great contract can go a long way. Good fences make good neighbors.
Read MoreTopics: Brian Chapman, contracting, strategic accounts
I had the pleasure recently to chair the third annual Medical Device Contracting and Strategic Accounts Conference in San Diego. On the opening day of the conference the bombshell was dropped: MedAssets was being acquired in a $2.7 billion deal and its GPO business being integrated with Novation. It certainly set the tone for the discussions. The big were indeed getting bigger, and it was never clearer that succeeding in strategic accounts is critical for medtech companies.
We spend a lot of time talking about how important it is for key account managers to find areas of mutual value, create tailored solutions, innovate for their important accounts and develop programs that are cutting edge. In fact, this is a really good idea because it explores areas of new value and creates relationships that go well beyond the transactional ones needed to sell a commodity product. We eschew focusing too much on pure rebates and prices because it gives away value. I still believe this, but sometimes a great contract can go a long way. Good fences make good neighbors.
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