Category: Medical Devices

Scott Burrows, Pharmaceutical Sales Motivational & Marketing Speaker

The 2020 Changes are Here, Are You Ready?

As I frequently speak to groups in the pharmaceutical industry about the sales and marketing outlook for 2020 and beyond, a question I frequently ask attendees is if they have the determination to meet the challenges and the vision to see themselves as being successful. On top of those two factors, I ask are they willing to have the daily grit to reach their goals?

2020 Will Not Be Easy

The pharmaceutical industry is changing. Despite the fact that the economy is strong, some of the projected 2020 changes that pharmaceutical sales and marketing people will face must be fully understood but more than that, included in every organizational plan.

PricewaterhouseCoopers International Limited (PwC Global) recently released their outlook for the future of the industry. I would like to paraphrase or quote a number of important points, then view them in light of determination, vision and grit.

  • The experts warn that sales forces will be smaller, “agile,” and smarter. With that, “Companies will need to demonstrate that their brand adds value to patients and they will have to offer a package of products and health services that the market not only wants and needs but is willing to pay a premium for.”
  • “Healthcare policy makers and payers are increasingly mandating what doctors can prescribe.”
  • We can expect that government agencies around the world will expand their focus on disease prevention, with less focus on treatment.
  • We must acknowledge the “interdependence of the payer, provider and pharmaceutical value chains,” and to that end adopt more flexible pricing models, invest in medicines the market truly needs, and offer greater support services.
  • “Create cultures that are suitable for marketing specialist healthcare packages.”

These trends will “encourage” marketing and sales reps to become more knowledge-based, more professional and much more proactive in pushing for true innovation and value.

Business as Usual? Hardly.

European-based BlueNovius B.V., a healthcare education service, recently reviewed the many reasons why PCPs are now refusing to see pharmaceutical sales and marketing people. We have to understand that on an annual average, the average PCP is inundated with about 2,800 inquiries for presentations. It has been estimated that about 80 percent of the time PCPs can find what they need by going on-line. They feel no need to return to the traditional way of doing things.

Relating to the points that PwC addressed above, it is obvious that even with brands that truly add value, if the sales or marketing representative is not determined to make a difference, the most innovative products can fail.

States BlueNovius B.V., “The most effective way of ensuring your sales reps go through physicians’ doors is by offering physicians exactly what they need, instead of bombarding them with canned presentations offering the same data that they’re already aware about.”

Unless marketers and sales representatives offer real knowledge, greater support services and bring a culture of partnership rather than hype, the outcomes for the most promising of products could be lackluster.

Within that framework, who are you? Is your vision one of failure or success, and do you have the grit to ensure that you will make a difference?

 

To contact Scott Burrows, Pharmaceutical Sales Motivational & Marketing Speaker, contact his office today through this website or by calling: (520) 548-1169

 

Scott Burrows, Change Management Speaker for the Healthcare Industry

Sweeping Changes Come to Healthcare in 2020: Is Your Practice Ready?

In my role as a healthcare change management speaker, I often speak about how the year 2020 foreshadows an acceleration of change to many group practices. I am particularly interested in the ACOs, or accountable care organizations.

In the strictest definition, “ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high-quality care to their Medicare patients.”

We all know it is much more than that. It reflects a commitment to greater synchronized care and avoidance of duplication of efforts. Ultimately the ACO reflects a determination to prevent medical errors.

In his look-ahead for the healthcare industry (“Top 10 Health Care Industry Predictions For The Year 2020”), Sachin Jain, Forbes magazine, May 2019, states: “The balance of power will begin to shift from hospital systems back to physician groups. All around the country, physician groups who face acquisition by hospital systems are looking for an alternative…within specific specialties, such as oncology and cardiology, private equity companies are beginning to roll up provider groups to drive performance, negotiate more favorable contracts, and leverage purchasing power.”

Naturally, the formation of ACOs, while ultimately enabling patients to receive high-quality care, are not without their challenges. Change brings new processes to the office along with new technologies. The use of contractors to create ACOs within practices is hardly done for free. The venture-backed companies demand a return on their investment in your practice as well.

The Broader Picture

The year ahead is obviously not about ACOs alone. We can all expect to see several other trends intensify this year. One important change is a continuing shift back to home-based care as an alternative to expensive hospital stays.

For example, Lauren Hardin, MSN, RN, writing for JAMA (August 13, 2019), talks of an expanded use of RNs, paramedics and EMTs to evaluate patients on an in-home demand-basis. Hardin illustrated this by offering an example in Louisiana:

“In Louisiana, for example, a new service…allows patients and their families to quickly request health care in their homes through the use of an app—much like an Uber app—that connects them to an on-demand network of nurses, EMTs, and paramedics. They also follow patients with complex health and social needs in their homes to prevent emergencies and hospitalizations.”

This shift, in turn, will force changes in the way responders are being reimbursed but overall the advantage is greater patient comfort and decreased anxiety. Overall, it lowers the burden on the medical system.

Experts also predict that in 2020, there will be an ever-greater interest on the part of the public to examine the behaviors of the healthcare industry. Certainly, the exposing of the practices in some of the more nefarious pricing behaviors of the pharmaceutical industry, plus the debates over the Affordable Care Act, clearly signaled a new era in healthcare consumerism.  There is a shift, though perhaps decades late, that is similar to the consumer shift from buyer beware to seller beware. Anyone who has ever used Amazon.com or Yelp.com will understand the new power of the consumer.

In 2020, it will take the determination of the healthcare industry to address the shifts in front of them and the vision to respond to the challenges. No organization, hospital or practice will be able to avoid the new trends. Those who have the daily grit to address the needed changes will be the major winners.

 

 

To hire Scott Burrows, Healthcare Industry Motivational and Change Management Speaker for your next meeting, connect with his office today through this website or by calling: (520) 548-1169

 

 

Scott Burrows, Motivational Pharmaceutical Sales Speaker

Having the GRIT to Fight for Market Share in the Medical Device Market

 

After an automobile accident left me a quadriplegic, I was determined to overcome adversity and succeed despite the odds. After an intense period of overcoming my physical challenges, I put this same mindset and grit into action as I entered the Insurance and Financial Industry. Within five years, I was awarded membership in the prestigious Million Dollar Round Table (MDRT) as a top producer for commission-driven sales. From there I realized I could accomplish anything I had the vision to undertake. Today, I am honored to bring my message of vision, determination and grit around the globe as a motivational keynote sales speaker for the medical device and pharmaceutical industries.

Companies are like people

In its MedTech Dive report (December 14, 2018), Moody’s projected a positive 2019 outlook for the medical device industry. Moody’s estimates a growth of between 4.5% and 5.5% with sales in emerging markets expected to grow into the double digits.

In 2016, the medical device industry was valued at about $148 billion and has exploded to $173 billion this year. Of the 6,500 companies in the industry, about 80% have 50 or fewer employees. Does this growth mean that medical device companies can afford to be complacent? Hardly. Unless companies innovate quickly, they could get pushed aside.

Before I was involved in my accident, I was a martial artist and Division-1 football player. I took my health for granted. In an industry showing healthy growth, it is also easy to take continuing success as an unquestioned fact.

Despite the optimism, medical device industry experts point to several warning signs on the horizon. The experts warn that companies must anticipate new FDA regulations which demand greater accountability, higher performance standards, more complex rules for reimbursements, and an ever-increasing competitive outlook. In one way or another, every one of those 6,500 companies are out to take a piece of market share. It will take increasing determination for companies to separate themselves from their competition.

Does your company have the GRIT?

In February 2019, the Strategic Information Group, a medical consulting firm, reported on the medical device industry. The firm pointed out that the market dynamics of the industry are in constant change. Companies must strive to reduce costs and streamline operations.  There are device companies around the world constantly looking to capitalize on markets and leverage partnerships to their advantage.

Medical device companies must have the grit to innovate and to understand what makes them unique. They must overcome change and the adversity of competition, regulations and an ever-complex reimbursement structure.

However, companies aren’t just like people, they are people. Everyone on the team must rise up from complacency and never assume that the rules for success don’t apply to them.  Companies are exceptional because each employee on the team makes them exceptional.

Whether the medical device company has less than 50 employees or more than 5,000, the challenge is to possess a David versus Goliath mentality, to never give up, and to overcome the hidden challenges.

 

Contact Scott Burrows, Medical Device Industry Motivational Speaker through this website or call us at: (520) 548-1169

 

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