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Leveraging SugarCRM in the Medical Device Industry: Transforming The Purchasing Experience
- 1. © SugarCRM Inc. All rights reserved. 06/08/ 2016 © SugarCRM Inc. All rights reserved. 06/08/ 2016 Transforming the Purchasing Experience Selling Medical Devices to Providers in a Changing Landscape
- 2. © SugarCRM Inc. All rights reserved. 06/08/ 2016 © SugarCRM Inc. All rights reserved. 06/08/ 2016 Agenda • Introductions • The Rising Challenges in Med Device Sales • CRM Demonstration • Q&A
- 3. © SugarCRM Inc. All rights reserved. 06/08/ 2016 © SugarCRM Inc. All rights reserved. 06/08/ 2016 SELLING TO PROVIDERS HAS CHANGED
- 4. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Consolidation of Providers & GPOs Source: Bain & Company
- 5. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Centralization of Decision Makers Source: Medical Group Management Association 10% 20% 30% 40% 50% 60% 70% 80% 90% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Physicians in Hospital Owned Practice Physicians in Private Practice
- 6. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Commodification of Products Source: FDA Percent of Class II Device Submissions with Additional Information Request on 1st FDA Review Cycle
- 7. © SugarCRM Inc. All rights reserved. 06/08/ 2016 How Will You Meet the Challenges? Create differentiation in sales • Value-based selling • Team selling • Key account focus • Contract & price optimization • Enabled with CRM “When companies excel in articulating the overall economic value of a medical product or service, they have significantly higher customer retention, market share, revenues, and profits.” ZS Associates & Aberdeen Group
- 8. © SugarCRM Inc. All rights reserved. 06/08/ 2016 UHS Adoption of SugarCRM Enabling a value-based, customer-centric approach with customer, contract and forecast management. “Sugar lets our sales teams focus more on selling and less on finding and reporting data.” Kate Standa, Sales Operations Manager
- 9. © SugarCRM Inc. All rights reserved. 06/08/ 2016 DEMONSTRATION
- 10. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Chris - Account Executive Beyond Visibility to Intelligence VISIBILITY • Hospitals, IDNs, GPOs, Physicians • Pipeline & Forecast • Team Selling • Sales Activity INTELLIGENCE • GPO & IDN Contract Impact • Revenue Performance • Suggested Actions • Intelligent Pricing
- 11. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Demo Flow Analyze & Respond Contracts & Revenue 2 Connect Anywhere Mobile 4 5 Drive Opportunities Pricing & Forecast Work Intelligently Dashboard 1 3 Tailored Approach Account Insights
- 12. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Successful Customers More Than 1.5 Million Users Business Services Consumer Goods/Retail Financial Services & Insurance Government/ Non-profit Education Healthcare ManufacturingTechnology TransportationTravel & Leisure
- 13. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Successful Customers More Than 1.5 Million Users Business Services Consumer Goods/Retail Financial Services & Insurance Government/ Non-profit Education Healthcare ManufacturingTechnology TransportationTravel & Leisure
- 14. © SugarCRM Inc. All rights reserved. 06/08/ 2016 Transforming the Purchasing Experience Create differentiation in sales • Value-based selling • Team selling • Key account focus • Contract & price optimization • Enabled with CRM “When companies excel in articulating the overall economic value of a medical product or service, they have significantly higher customer retention, market share, revenues, and profits.” ZS Associates & Aberdeen Group
- 15. © SugarCRM Inc. All rights reserved. 06/08/ 2016 QUESTIONS
Editor's Notes
- 20% of hospitals were involved in M&A activity in the last year Pricing & contracting is growing more complex
- Physician preference in purchasing decisions is declining Decisions are increasingly made by or constrained by executive leaders in a provider network Decisions are based more on therapeutic value and financial efficiency
- Regulation has increased significantly since 2007 (FDA Amendments Act), 2011 (medical device 2b classification) and 2013 (Unique Device Indentifier final rulebook) Pre-market submissions for device approval has declined 30% over the past 10 years With the cost and time to bring products to market going up, product innovation and differentiation is down and differentiation through other means—service, price, model—is needed
- Value-based selling & differentiation requires up-skilling and/or onboarding in sales team Team-based, collaborative selling combines multiple clinical specializations with financial modeling and C-level selling skills Key account management focused on GPOs and IDNs handles complex pricing and contracting and communicates with the larger sales team to coordinate impact sales opportunities Contract & price management that enables effective sales, provides sales efficiency by removing manual contract research and coordination, and reduces errors Looking at client needs in a holistic way using CRM
- National Account Management – 100s of identified opportunities Team Collaboration – alignment of clinical and financial specialists Forecast Accuracy – increased forecast accuracy to within 1% Visibility Between Divisions – merged acquired business units into a single consolidated view for cross-sell and collaboration
- National Account Management – 100s of identified opportunities Team Collaboration – alignment of clinical and financial specialists Forecast Accuracy – increased forecast accuracy to within 1% Visibility Between Divisions – merged acquired business units into a single consolidated view for cross-sell and collaboration
- From sales and marketing automation to cross-departmental processes and custom integrations, here are some of the more than 1.4 million SugarCRM users who are building their successful businesses on SugarCRM.
- From sales and marketing automation to cross-departmental processes and custom integrations, here are some of the more than 1.4 million SugarCRM users who are building their successful businesses on SugarCRM.
- Value-based selling & differentiation requires up-skilling and/or onboarding in sales team Team-based, collaborative selling combines multiple clinical specializations with financial modeling and C-level selling skills Key account management focused on GPOs and IDNs handles complex pricing and contracting and communicates with the larger sales team to coordinate impact sales opportunities Contract & price management that enables effective sales, provides sales efficiency by removing manual contract research and coordination, and reduces errors Looking at client needs in a holistic way using CRM