Why Medtech Companies Should Care More About Sales Operations

Interview with Andrea Traverso

It’s safe to say that IDNs are important customers for the overwhelming majority of medical device companies.

Therefore, it’s probably rational to assume that medtech companies do a good job of tracking the changing IDN landscape, right?

Wrong.

Based on the 2014 ZS Associates Commercial Operations Benchmark Study, only 56% of medtech companies track IDN membership. Surprised? Just wait, there’s more.

In this same study, only 20% of medical device companies have processes in place to measure marketing program results or effectiveness. I wonder what Apple and Google think about that?

In this interview with Andrea Traverso, Associate Principal with ZS Associates, we learn more about the Commerical Operations Benchmark Study and what it means for medtech companies.

Interview Highlights with Andrea Traverso

  • Why should medical device companies track IDNs through a CRM? For the few companies that are doing well, what do they have in place that is enabling their success?

  • Are there business intelligence or CRM platforms that medtech companies should be using?

  • How should medical device companies manage the “garbage in, garbage out” issue that plague all CRM systems?

  • When trying to implement a CRM strategy, many medical device sales reps view their respective companies as a “big brother”. How can this be overcome?

  • Does a large commercial operations team equate to top-line growth? Is there an ideal size medtech companies should strive for?

  • Why is the marketing analytics function not a top-of-mind priority for medical device companies?

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In medtech, developing novel, impactful technology is often just the starting line. The real race begins when you try to integrate your solution into the often-resistant healthcare system – a hurdle that has tripped up countless promising companies. Here are the key strategies and lessons from five veterans in the medtech space on how to overcome this hurdle.

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