Value-based care delivery models are causing a major shift in how healthcare and adjacent industries operate and prioritize spend. Medical device manufacturers that are selling large, complex, capital equipment are not spared from this shift — and it’s no secret that medical technology is a big investment for healthcare providers (HCP). As the expectations of providers and how they provide care changes, their priorities around spending and investments change as well.
As hospitals and healthcare organizations strive to reduce costs, procurement managers are playing a growing role in decisions to purchase medical equipment. Historically, value was determined by doctors alone as they were involved in the purchasing decisions. However, centralized purchasing decisions in which procurement officers are the primary decision makers have doubled in recent years. In order to stay ahead, medical device suppliers need a value-based approach to justify the ROI on their products, in addition to the value they provide doctors during procedures.
Atrium’s value-based analytics solution for medtech leverages data across multiple sources such as ERP systems, third parties, and the devices themselves to enable medical device manufacturers to show HCPs the value of their products and equipment. The benefits are twofold: the outcomes this drives for you and the outcomes it drives for providers.
While the data points across different medical device or medtech organizations will be different, the outcomes HCPs are looking to drive are similar. Change the conversation your sales team has with providers by demonstrating the value you provide, taking your relationships to the next level in the process.
Cutting-edge medical devices enable procedures that are less taxing on patients. Minimally invasive surgical procedures, for example, lead to fewer surgical complications and shorter recovery times.
Atrium’s value-based analytics solution is not just about measuring financial gains, but also showing how medtech can improve patient satisfaction, recovery time, and other outcomes.
Improving patient outcomes and decreasing recovery times positively affects the bottom line. For example, less invasive surgeries lead to fewer complications and shorter recovery times — meaning beds open up sooner, leading to a higher capacity for patients.
Additionally, leveraging utilization and device or equipment data, providers can identify opportunities for training, adoption, and other potential cost savings.
Customer loyalty grows through trust and transparency, so let the data do the talking. Help providers justify the sale of large, typically expensive capital equipment to a set of stakeholders who don’t experience the value of the equipment firsthand.
Nothing gets you on the good side of finance like ROI visibility, cost savings, and transparency through data.
Increase sales by taking the mystery out of ROI. Capital equipment is a big investment for healthcare institutions. The sales cycles can be long, and cost justifications can be hard to quantify. Our approach helps buyers make the right decisions fast — based on data, not marketing.
The easier it is to show the value of your product, the easier it is to sell it.
Optimize sales efforts with propensity to close models to help them prioritize deals with higher likelihood to win.
Maximize your investment by surfacing these insights where users work on a day-to-day basis and providing them with an action framework, such as leveraging flows for value assessment story generation.
By becoming data driven and changing the conversation you have with clients to be value focused, customer satisfaction and NPS inevitably increase. Take it to the next level by prompting conversations with at-risk customers with anticipated CSAT models.
Intuitive Surgical, Inc. is an American corporation that develops, manufactures, and markets robotic products designed to improve clinical outcomes of patients through minimally invasive surgery, most notably with the da Vinci Surgical System.
Intuitive Surgical wanted to revamp the way they conduct business with their customers by directing conversations toward customer goals and tracking outcomes. Atrium made information central, accessible, and actionable with CRM Analytics and Sales Cloud.