DxMA 2017 Webcast #2
"Marketing Dx Products in an Age of Reform"
Healthcare reform, industry consolidation, and the shifting landscape of buying decisions in healthcare pose a host of challenges for DX suppliers. Suppliers must respond with new sales and marketing approaches and refine and sharpen their messaging. In addition to a value proposition that resonates with lab managers, vendors must provide clear and compelling messages to both clinical and non-clinical (e.g., Supply Chain, Finance, etc.) personnel. It will no longer be enough for suppliers to emphasize features and benefits in their marketing and sales collateral. Increasingly, suppliers must learn how to translate the value of all the great things they can do for hospitals into a clinical and economic business case. Building such a business case is both challenging and rewarding. It is challenging because it involves quantifying benefit claims – benefits that can touch any many aspects of patient care management. Further complicating matters, hospital decision makers (who sit on Value Analysis Committees) are often short on time, and do not have the resources to accurately model the impact of diagnostic devices on their operations and care delivery process, as well as how an analyzer or test can help providers improve their performance under Pay-for-Performance programs such as Readmission Reduction, Hospital Acquired Conditions (HAC), Value-Based Purchasing (VBP), Shared Savings programs (MSSP), and bundled payment arrangements. This presentation will explore the various sales and marketing challenges that diagnostics vendors face, as well as strategies and tactics to overcome them. Time will be spent reviewing these new payment models and how diagnostics companies can positively impact hospital reimbursement. Value Analysis Committees (VACs) – the new hospital decision maker – will be reviewed and strategies and tactics for making a compelling case to these committees will be discussed.
Tony Kotler is the head of the B2B services group and a lead consultant in the Healthcare Practice at Kotler Marketing Group. Over the years, he has focused on working with client firms to better understand, measure, and communicate the value of their products, systems, and services. He has had articles and papers regarding value-based sales and marketing published in Marketing News, Selling Power, and Business-to-Business Marketing. He has over 20 years in the healthcare industry and has presented on a variety of marketing and sales topics at industry conferences, national sales meetings, and trade shows. He is a co-author of several research reports and guides, including a study that examined how buyers evaluate purchase decisions in the healthcare industry, as well as how suppliers attempt to influence the purchase decision. He is currently conducting a study of hospital value analysis committees (VACs) which examines how these committees are organized, as well as their process for evaluating sourcing decisions. He has trained and consulted with dozens of leading suppliers to more effectively position their products and defend their price. Current and former clients include Siemens, Instrumentation Labs, 3M, Thermo Fisher, Biotronik, Stryker, Draeger, Covidien, Getinge, Maquet, LifeNet Health, STERIS, Exactech, and Abbott, among others. Prior to joining Kotler Marketing, Tony held sales and marketing positions for a company that offered clinical decision support systems to hospitals, health systems, and payers.
Wednesday, March 29, 2017