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Selling Under the Physician Sunshine Act Final Rule

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"Affordable Care Act Physician Payment Sunshine Act Final Rule: The Rules, Their Impact, and How to Sell in This New Environment" --. This eBook is designed for small to medium businesses that sell to physicians. It outlines a simple, commonsense strategy of how to sell in this new regulatory environment.

Published in: Business, Health & Medicine
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  • DOWNLOAD THE BOOK INTO AVAILABLE FORMAT (New Update) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { https://urlzs.com/UABbn } ......................................................................................................................... Download Full EPUB Ebook here { https://urlzs.com/UABbn } ......................................................................................................................... Download Full doc Ebook here { https://urlzs.com/UABbn } ......................................................................................................................... Download PDF EBOOK here { https://urlzs.com/UABbn } ......................................................................................................................... Download EPUB Ebook here { https://urlzs.com/UABbn } ......................................................................................................................... Download doc Ebook here { https://urlzs.com/UABbn } ......................................................................................................................... ......................................................................................................................... ................................................................................................................................... eBook is an electronic version of a traditional print book THE can be read by using a personal computer or by using an eBook reader. (An eBook reader can be a software application for use on a computer such as Microsoft's free Reader application, or a book-sized computer THE is used solely as a reading device such as Nuvomedia's Rocket eBook.) Users can purchase an eBook on diskette or CD, but the most popular method of getting an eBook is to purchase a downloadable file of the eBook (or other reading material) from a Web site (such as Barnes and Noble) to be read from the user's computer or reading device. Generally, an eBook can be downloaded in five minutes or less ......................................................................................................................... .............. Browse by Genre Available eBOOK .............................................................................................................................. Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, CookBOOK, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult, Crime, EBOOK, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, ......................................................................................................................... ......................................................................................................................... .....BEST SELLER FOR EBOOK RECOMMEND............................................................. ......................................................................................................................... Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth,-- The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company,-- Call Sign Chaos: Learning to Lead,-- StrengthsFinder 2.0,-- Stillness Is the Key,-- She Said: Breaking the Sexual Harassment Story THE Helped Ignite a Movement,-- Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones,-- Everything Is Figureoutable,-- What It Takes: Lessons in the Pursuit of Excellence,-- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money THE the Poor and Middle Class Do Not!,-- The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness,-- Shut Up and Listen!: Hard Business Truths THE Will Help You Succeed, ......................................................................................................................... .........................................................................................................................
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Selling Under the Physician Sunshine Act Final Rule

  1. 1. Affordable Care Act Physician Payment Sunshine Act Final Rule The Rules, Their Impact, and How to Sell in This New Environment eBooklet From Buzzfile.com Copyright © 2013 Buzzfile. All rights reserved.
  2. 2. Physician Payment Sunshine Act Final Rule www.buzzfile.com 2 Obamacare is being implemented in stages and, as of August 2013, another piece of the legislation – the Physician Payment Sunshine Act Final Rule – has gone into effect. This rule is meant to eradicate any appearance of a conflict of interest for the physician in terms of prescribing medication or medical devices, but it ends up greatly affecting how anyone who sells to the medical industry can interact with physicians. The Affordable Care Act doesn’t so much focus on prohibiting ways that sales people build relationships with physicians but, instead, creates a reporting burden on the part of the physicians that will make them shy away from many types of interactions with vendors. of the interactions and exchanges with pharmaceutical and medical device reps in the following categories:  Consulting fee  Compensation for services other than consulting, including serving as faculty or as a speaker at an event other than a continuing education program.  Honoraria  Gift  Food and beverage  Entertainment  Travel and lodging  Education  Research Charitable Contribution  Royalty or license  Current or prospective ownership or investment interest  Compensation for serving as faculty or as a speaker for an unaccredited and non-certified continuing education program  Compensation for serving as faculty or as a speaker for an accredited or certified continuing education program  Grant  Space rental or facility fees (teaching hospital only)  Ownership or investment interest Because of the Physician Payment Sunshine Act Final Rule, physicians are now required to publically report all
  3. 3. How Does this Affect Companies Selling to Physicians? www.buzzfile.com 3 Although the reporting requirements are targeted at the pharmaceutical industry and medical device Every direct sales person – in practically any industry – uses gifts, food and entertainment as part of how they build a relationship. What sales person doesn’t have a supply of pens, pay for coffee at Starbucks, or gives tickets to a game? Under this new rule, those simple actions will cause apprehension, not delight, for your client. However, challenges can make us rethink business-as- usual, and often come up with fresh approaches. As a small-to-medium business provider, the good news is that the playing field is more level now that bigger companies don’t have as many arrows in their quiver. You have an opportunity to shine at what you do best, directly relating to people. manufacturers, in reality, even if you are a financial advisor, a home health care agency looking for referrals, or someone selling office supplies, some very basic sales tools are going to be greeted with caution by physicians and their gatekeepers. If you are part of a large company, you probably have a marketing staff creating new strategies for you, but, if you are a small business that sells to the medical industry, you are going to have to go it alone.
  4. 4. “New Rules” Selling – Getting Back to Basics www.buzzfile.com 4 A common saying goes: “Everything old is new again.” Sales people may feel like the odds are stacked against them with the stringent requirements of the Physician Payment Sunshine Act Final Rule, but small-to-medium businesses have actually been given a level playing field that favors their more person-to-person approach. Get back to basics – with “New Rules” Selling. 1. Start by TARGETING your market, identifying their location, number of employees and revenue range. 2. Build a schedule for contacting and INTERACTING with your prospects by phone, mail, email or social media. It’s a good time to get basics with personal selling and a low-key consultative selling plan that incorporates some new ideas from one of the hottest trends – content marketing. 3. Create useful materials that provide value and 4. And CURATE content from quality sources and share with your prospects. EDUCATE your prospects and their patients.
  5. 5. “New Rules” Selling – Target Your Market www.buzzfile.com 5 Become more efficient and effective at targeting your market by using Buzzfile. There are 18 Categories under the “Health Services” Sector, and just in the “Offices and clinics of medical doctors” alone, there are 55 Industries listed. Dental laboratories General medical and surgical hospitals Health and allied services Home health care services Intermediate care facilities Kidney dialysis centers Medical laboratories Nursing and personal care Offices and clinics of chiropractors Offices and clinics of dentists Offices and clinics of medical doctors Offices and clinics of optometrists Offices and clinics of osteopathic physicians Offices and clinics of podiatrist Psychiatric hospitals Skilled nursing facilities Specialty hospitals, except psychiatric Specialty outpatient clinics Health Services Allergist Anesthesiologist Cardiologist and cardio vascular specialist Clinic, operated by physicians Dermatologist Diabetes specialist, physician/surgeon Dispensary, operated by physicians Ear, nose, and throat specialist Endocrinologist Ear, nose, and throat specialist physician surgeon Fertility specialist, physician Freestanding emergency medical center Gastronomist Genera; and family practice, physician/surgeon Geriatric specialist, physician/surgeon Group health association Gynecologist Health maintenance organization Hematologist Immunologist Infectious disease specialist, physician/surgeon Internal medicine practitioners Internal medicine, physicians/surgeons Medical centers Medical insurance associations Medical insurance plan Nephrologist Neurologist Neurosurgeon Obstetrician Occupational and industrial specialist, physician/surgeon Oculist Offices and clinics of medical doctors Oncologist Ophthalmologist Orthopedic physician Pathologist Pediatrician Physical medicine, physician/surgeon Physicians’ office, including specialists Plastic surgeon Primary care medical clinics Proctologist Psychiatric clinic Psychiatrist Psychiatrists and psychoanalysts Psychoanalysts Pulmonary specialist, physician/surgeon Radiologist Rheumatology specialist, physician/surgeon Specialized medical practitioners, except internal Sports medicine specialist, physician Surgeon Thoracic physician Urologist Offices and clinics of medical doctors
  6. 6. “New Rules” Selling – Target Your Market www.buzzfile.com 6 To search by industry, go to www.buzzfile.com, and click Begin by entering your state, city or zip code so that you can narrow your search quickly. You can narrow your results by entering values for Revenues and number of Employees. Then, select the Sector, Category, and Industry (if needed) to find your target market. You can even look at the demographic make-up of the neighborhood that the practice is in. Advanced Search By smartly targeting your market you’ll be sure to find all potential customers in your geographic region. The Sector / Category / Industry filters will ensure that you are only going after prospects that are high- likely candidates to become customers. And using the Revenue and number of Employee values as part of your search, you can select only providers or institutions of a specific size. click on “Advanced Search.”
  7. 7. “New Rules” Selling – Target Your Market www.buzzfile.com 7 Each Buzzfile “Company Page” has contact information, a company profile and a link to other companies at the same location Find prospects by LOCATION to make door-to-door prospecting more efficient. Buzzfile has two ways to search by location. Simply click on the link to see all other businesses in that building. At this location there are 21 other doctor’s practices.
  8. 8. “New Rules” Selling – Target Your Market www.buzzfile.com 8 Go to the “Advanced Search” feature and search by address OR simply enter an address on the Search Bar. Find prospects by LOCATION to make door-to-door prospecting more efficient. Buzzfile has two ways to search by location. NOTE Buzzfile requires that the use of street abbreviations – Ave for Avenue, St for Street, Blvd for Boulevard, etc. For example: 122 Main St NW.
  9. 9. “New Rules” Selling – Interact with Potential Customers www.buzzfile.com 9 Organize the prospects you have identified by location or by their type of practice. Organizing by locations is great if you want to schedule face-to-face calls but Set weekly or daily goals to make contact and set aside time to get this done. There are lots of great contact management tools to help you schedule appointments and follow-up calls. Salesforce.com – one of the most established and well-regarded sales tools is $25/month for a single user, or simply search online for “free contact management software” and read the reviews and product descriptions to find one that works for you. Interactions with prospects can by phone, mail or email, in-person or through social media. The goal is to find as many touch points as possible and build a successful relationship. Just as importantly, you want to assess the likelihood of closing a deal so you use your energies where they will effect the best outcome. The content that you create or curate will become your “calling card” and encourage your prospects to value your interactions with them segmenting prospects by type of practice may make it easier for you to hone your sales pitch for specific audiences. Use your past experience to decide what makes sense for you. Develop and practice your 60-second “elevator pitch” focused on your prospects’ needs and start calling and meeting with people. But first things first – you need to start by creating a plan and setting aside the time to contact the prospects that you have targeted.
  10. 10. “New Rules” Selling – Interact with Potential Customers www.buzzfile.com 10 Look online for places where you can create your own, search for “business greeting cards” to buy cards customized with your company name or go to Buzzfile With the Physician Payment Sunshine Act Final Rule traditional means of contact don’t need to change, but the “content” of the interaction needs to shift. Connecting by phone, mail, email, or in-person is fine, but gifts, entertainment events or taking your prospect out for lunch and coffee become problematic for physicians and their staff. This even extends to brining in pizza or donuts for the office.  New Years Day (January 1)  St. Patrick’s Day (March 17)  Administrative Professional’s Day (April)  Fourth of July (July 4)  Boss’s Day (October)  Halloween (October 31)  Thanksgiving (3rd Thursday of November) This is where getting creative counts: Rethink the holiday card. It’s not just Christmas or Hanukah that keeps Hallmark revenues flowing. Think of creating or buying cards for: Did you know that – according to the Greeting Card Association – there are 21 million Halloween cards, 15 million Thanksgiving cards and 7 million St. Patrick's Day cards sold annually? and click on the city or state column to find local printers in your area.
  11. 11. “New Rules” Selling – Interact with Potential Customers www.buzzfile.com 11 Direct mail and email campaigns are still a good way to connect, and, if you have identified your target market, you’ll have a quality list to contact. The Buzzfile Company Page will give you a key contact name, a phone number, street address, and link to a website if available. Checking out the website should give you more information and contact points so always take a look before you make a call to your prospect. However, if you want to increase your power to connect, mastering social media as a selling tool can give you a big competitive edge If you are mailing more than a few hundred direct mail pieces, a mail fulfillment house may make sense. They add a little more cost but should save time, and getting advice, in advance, about the cost of mailing certain sized direct mail pieces could save money in the long run. THE FACTS:  Top sales performers that sold to other businesses were polled, and 88% of them use LinkedIn as a selling tool.  Krista Canfield, Public Relations Manager for LinkedIn, also estimates that there are over 130,000 medical professionals, mostly medical doctors, plus about 23,000 nurses in the US, who are registered on LinkedIn. If you haven’t set up a Linkedin profile, now is the time to do it. There is a free account package that you can start with. Often this is enough for most people.
  12. 12. “New Rules” Selling – Interact with Potential Customers www.buzzfile.com 12 Once you have met a prospect, go online and see if they are on LinkedIn and ask to connect to them. Take the time to create a brief, personal message when you make your connection request. Go back and look at your existing customer list and ask them to connect with you as well. Then monitor your account on a regular basis and check the updates on your LinkedIn home page. You’ll get the opportunity to see updates from your connections and any changes they have made to their LinkedIn profile. GET STARTED: GET CONNECTED: Set up a professional LinkedIn profile SEND OUT UPDATES: As you start to curate content, you can send out a brief update with a link to an article that you think will interest your prospects and customers. BUILD A REFERRAL NETWORK: Reach out and connect with friends and business colleagues from all kinds of backgrounds. You never know where referrals can come from and it pays to create a broad network of contacts. LinkedIn has a concept called 1st, 2nd and 3rd degree connections. The 1st degree connections are those that you are directly connected to, but 2nd degree connections are equally important. These are people that you contacts are connected to on LinkedIn. Take the time to check out the 2nd degree connections. If they are of value to you, then reach out and ask for a referral. 1st 2nd 2nd 2nd 2nd LinkedIn has really useful free online webinars that can teach you how to set up an account and how to use LinkedIn to your best advantage.
  13. 13. “New Rules” Selling – Educate Potential Customers www.buzzfile.com 13 Think about the physicians you are targeting and what would be of value to them, their staff and their patients. Each touch point is different and should be considered separately. There may be some information you could provide that will cover one, two, or all three of these groups, but first think about them as separate entities to get the best results. Doctor PatientStaff For the physician and staff, simple 1 – 2 page informative fact sheets may work well. Doctors may see value in having high-level information for patients such as “The 7 Signs of Dementia,” Drugs That Interact with Blood Thinners,” etc. If you work for a parent company or are a distributor or franchisee, talk with the marketing department and tell them what you are looking for. Give them a rough first draft of your ideas and the reason why you think this will help you sell. If you are working on your own or for a small company where you do your own marketing, then do some research into getting the right resources to create the materials that you need. 1. Consider about how the final piece will look and feel before you get started:  Will it be a glossy 2-sided piece on regular paper weight?  Will it be a 4 x 6 card on heavy cover stock paper?  Will it be a poster that can hang on a wall? Local print shops as well as online digital printers can show or mail you some samples of creative ideas that will fit your budget
  14. 14. “New Rules” Selling – Educate Potential Customers www.buzzfile.com 14 2. Write a first draft of content you want to use.  Make it simple and straightforward.  Illustrations are useful to break copy and communicate ideas  For patients, make sure that the language is clear, consistent, and uses layman’s terms. Remember your goals 3. Take your copy and your ideas to a graphic designer to bring it all together.  If you don’t have the budget for a designer, some easy pieces – for example, 8 ½ x 11 sheets – can be laid out in Microsoft Word or Publisher using the free templates provided.  Look online for free or low-cost artwork from places like Shutterstock or iStockphoto to enhance the look and feel. …and think of your target reader when you write. You can find local ad copy writers, business writers, technical writers and designers on Buzzfile. Resources ________ ________ ________ Click on the state or city column to find suppliers in your area.
  15. 15. “New Rules” Selling – Educate Potential Customers www.buzzfile.com 15 Find great ideas from others.
  16. 16. “New Rules” Selling – Curate & Share with Potential Customers www.buzzfile.com 16 Let’s start with some definitions of content curation, and then get to how to curate and how to disseminate the content you find… “The art of repurposing content to find the right ingredients for a perfect content marketing mix.” -- uberflip blog “(Content curation is) the process of analyzing and sorting Web content and presenting it in a meaningful and organized way around a specific theme.” -- MacMillan Dictionary “Thoughts, words and ideas of others can be helpful to establish yourself as a value added resource and a destination for information.” -- Brian Solis, marketing expert You may wonder why finding and sharing the content of others brings value back to you – there is so much information out there on the internet. The amount of information has reached the point where it has become overwhelming and many people, especially your busy prospects and customers, simply don’t have the time to sift through thousands of articles, blogs and research reports to keep up with new trends. If a friend shares a recommendation with you, you consider it valuable. If you know someone who understands home theater systems and can tell you to look for, you are more confident you will make the best purchase choice. You’ll probably tell another friend to call him up and talk before he buys. If that same expert just happened to run an home electronics store, that would translate into lots of repeat business. This principal of being a “value added resource” and a “destination for information” is – in a nutshell – what content curation is about.
  17. 17. “New Rules” Selling – Curate & Share with Potential Customers www.buzzfile.com 17 So how do you go about finding content that you can share that will be of value to your prospects and customers? Start by considering what types of articles or reports support you value proposition or establish a need for your product or service? You may know of online publications, websites or blogs that regularly cover topics that relate to your product or services. You may know of research groups that often substantiate the need for what you have to offer. Sign up for their email newsletter or set up an “RSS” feed if they have one so that you know when new content is posted or cast a wider net by setting up Google Alerts.  Begin by doing several searches to find which combination of search terms gets the best result for you.  Enter those search terms in the Google Alerts Search Query box.  You can select the Result Type: News, Blogs, Video, Discussion or Books, how often you receive the alerts and if you everything or just those that Google feels are the most relevant. All of this can be delivered to your email address. Give it a try; see what works best. Set up more than one alert if you wish. Go back and refine your search if you don’t like the results you get.
  18. 18. “New Rules” Selling – Curate & Share with Potential Customers www.buzzfile.com 18 Now, start sharing the valuable content you have curated.  In person  By mail  By email  On LinkedIn You can print up the information on nice quality paper. Make sure to include the source of the information: publication, blog name or website; author (if given), and date (if given). Try to include the logo of the organization if you can. With online information you should be able to copy and paste the content, including the pictures. Use a screen grab tool for capturing data that doesn’t copy and past easily. Format the information in Word or a desktop publisher, and include your company, your logo and your contact information at the bottom of the page on the front or back.
  19. 19. “New Rules” Selling – Curate & Share with Potential Customers www.buzzfile.com 19 As you build your relationship with prospects, get their email addresses and create an address list of all prospects and clients so that you can communicate electronically. However, never send out a group email exposing all of your contacts. Either send each email individually or use a contact management tool that automates the process. Make sure you include a subject line that draws in the reader, and a short, personal note with a link to the online article or video. Sharing links to articles or videos is a great way to reach out to your LinkedIn Connections. Use the “Share an update” box from your personal profile page or Company Page (if you set one up) on LinkedIn. Your link to the article, along with your comments, will appear on the home page of your connections. Comments that you entered in the status bar. Your name (or company name). Image from the article or video (if one is available). Headline and first few word of the article or video description.
  20. 20. www.buzzfile.com 20 Buzzfile.com Find or Follow Us: Copyright © 2013 Buzzfile. All rights reserved.

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