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Selling Medical Devices in this Difficult Healthcare Environment Medical Devices Group member Mike Sperduti shares the medical device selling strategies he effectively uses for GE Healthcare, Becton Dickinson, and his other medical device clients.

Mike, himself a medical device manufacturer, covers winning strategies for product launches, implementing contracts, and turning around under-performing territories.

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Selling Medical Devices in this Difficult Healthcare Environment

  1. 1. Selling Medical Devices in this Difficult Healthcare Environment
  2. 2. Your Host Mike Sperduti CEO The Mike Sperduti Companies 631-923-0223
  3. 3. Who is Emerge? •Management team has impeccable track record and is internationally regarded as Healthcare telesales experts •Own or operated 17 Healthcare companies - disposable products, medical device, distribution and biomedical services •Generated over 1 billion dollars in Healthcare sales over the phone •Extensive organic growth, M&A, operational and financial reorganization experience •Trained over 1000 Healthcare companies and over 15,000 salespeople in the art and science of sales. •Outstanding relationships with leading manufacturers, distributor and GPO’s and providers •Client base is a who’s who in the Healthcare industry including Fortune 100’s and small fast growing companies
  4. 4. What are you going to learn? •A proven sales/marketing process that has generated over $1 billion in sales revenue and is recognized around the world by industry leaders as the fastest and most effective way to generate medical device sales •How to create an ongoing predictable and scalable revenue stream •A philosophy, methodology and process to exceed your sales plan and crush your competition by taking advantage the most underutilized and powerful marketing weapon
  5. 5. “Nothing speaks louder than our customers voice”
  6. 6. “My business is too complex.” •Medical Devices •Pharmaceuticals Analytical Application Services •Lab Equipment, Assays and Disposables •Point Of Care Testing •Patient Monitoring Systems •Genetic Analysis •Medical & Surgical Software •Diagnostic Products •Radiation Oncology •Medical Transcription •Research Lab Process Management •Microplate Readers •Infusion Products •Patient Transfer Devices •Imaging Equipment and Supplies •Liquid Handling and Robotics •O.R. Products •Detection Equipment •Med-Surg Supplies •Hr Solutions •Patient Transfer Devices •Capital Equipment and Supplies •Ris/Pacs •Pharmaceutical/Chemical Research Services
  7. 7. Why is Selling so difficult in this healthcare environment? •Time •Margin decline •Rising cost of field sales visits •Larger Sales Territories with more products fighting for mind share •Fewer opportunities and more competition
  8. 8. Old School = Out of Business The way most HME/DME companies are selling is too slow, too costly unpredictable, antiquated and not getting the results needed to survive and thrive in the new age of competitive bidding, healthcare legislation, and other threats.
  9. 9. The Triple Threat
  10. 10. How to meet/exceed your Sales Plan •Optimizes the customer experience and aligns proper sales/marketing resources •Stronger customer relationships with better, immediate and more frequent communication •Design the sales process knowing how and they want to buy •Maximize revenue potential- reach and sell more accounts •Accelerate the sales cycle •Lower selling expenses by aligning appropriate selling resources •Standardized process with predictable and repeatable growth platform
  11. 11. The Age of the Sales Specialist •The Creator (Prospector) •The Authority (Closer) •The Lover (Relationship manager)
  12. 12. Inside or Out. The right choice? INSIDE SALES •Commodities •GPO Contracts •Simple buying process •Smaller accounts •Remote accounts •Renewals, upgrades and add-on’s •Prospecting/Intelligence FIELD SALES •Product is complex and needs to be demonstrated •Large opportunities •Customer requires face to face visits and whose revenue potential justifies the visit
  13. 13. Mission Control: High skill + High tech = High sales
  14. 14. The Magic List – Your own Sales GPS •Every decision makers key contact information. •How many potential targets in the universe •Who is in the market, evaluation process and is the perfect fit for your product and solution today, tomorrow, next month, next year? •Sales always at right place, right time •Laser Focused sales and marketing plan that maximizes personnel, time, resources and performance •Gives you the Unfair Advantage no matter what the size of your company •Increases productivity and decreases wasteful expenses
  15. 15. The Keys to Success •Targeted Prospect List •Engineer a winning Brand message and Conversation Guide •Mastery of delivery and data capture •Sacred Prospecting time and roll with the time zones •14-17 dials per hour •Do not call more than 2 times per week •The larger the list of targets, the faster you will see results •Call recordings and CANI
  16. 16. BIG DATA….BIG PROBLEM •Most CRM and marketing systems filled with old, incomplete and useless data •Inconsistent data capture and reporting by sales team •Acquisition based growth •Several sales, marketing and operating systems that do not talk to each other •Companies typically have poor customer data and even worse competitive data •Sales has no idea who are the right institutions to call on ,who are the key decision makers/influencers and what is their buying strategy
  17. 17. The Keys to creating a meaningful conversation and eliciting critical data •Brief and brilliant •Rapport •Interesting Topic •Signature accounts •Key differentiators •Strategic Interview Questions •Take action
  18. 18. The Top 3 Reasons Clinicians Choose a Product/Service: Patient/Clinician Experience Peer Recommendation Cost
  19. 19. How to engineer a meaningful conversation in health care today….. •New Technology •Better Patient Outcomes •Reduced Readmissions •Increase revenues / profitability •Patient Satisfaction •Reduction in operating costs •Improved productivity •Reduction in Clinical Labor
  20. 20. Appointment or not – Get smart •What are their immediate goals and initiatives they are currently working on? •How many patients, tests, procedures, surgeries do they see every day, week, month? •Who are they currently doing business with? •When does the contract expire? •What brand are you currently using? •How old is your equipment? •Why did you choose to work with ______? •How are decisions made? •If we can lower your costs and/or improve performance, is there any reason why you wouldn’t use us? •May I have your email address so we can keep you informed on our latest releases (Powerful!)
  21. 21. No today equals money tomorrow 0 50 100 150 Less than a year old 1-2 years old 3-4 years old 5 years old or more # of prospects Age of equipment
  22. 22. Facilities Performing SBRT Currently 47% 46% 7% Currently Performing Not Performing Missing Cases
  23. 23. What are facilities utilizing to immobilize patients 23% 18% 15% 12% 11% 4% 4% 4% 3% 2% 2% 0% 0% 5% 10% 15% 20% 25%
  24. 24. Planning to provide SBRT 41% 46% 12% 1% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Yes No Don't Know/Not Sure Missing Cases
  25. 25. What couch top are they using? 216 57 25 20 19 13 9 8 8 4 3 2 0 50 100 150 200 250
  26. 26. Time Frame to purchase a new Linac? 9% 5% 20% 29% 18% 20% 0 to 3 months 4 to 6 months 7 to 12 months 1 to 2 years 2+ years Don't Know/Not Sure
  27. 27. Results To Date •Total sales calls 5,726 •Lab Manager contacts/Interviews 4,432 •Cost per Sales Ready Lead $ 225.00 • Sales for 2014 35 •Total Investment $ 161,000 •Total return to date $ 3,800,000 •Projected Return $ 6,900,000 •Based on sales pipeline and close rate
  28. 28. Why Outsource? •Low risk/High reward •Low investment •Pay for Performance •Hire experience and expertise •Cost less •Great way to test •4-6 weeks to growth
  29. 29. Who should you outsource to? •Record ALL sales calls •Transparency of activity and performance with online reporting package and sophisticated database •Results and performance guarantee •Proven in Medical Device Sales •Highly educated, skilled and proven business development reps in Medical Device sales •Rigorous training and role-play prior to project roll out •Lead scoring and definition of Qualified Complete Weekly performance reviews with constant and never ending program improvement •All appointments should be recorded and reviewed by a Q&A team and GUARANTEED!
  30. 30. Join the next startingNovember 12! Just for attending, get $50 off! Register at Use code ms8nv5 Good through 10/10/14
  31. 31. Gift for all Attendees! Complementary Sales Process Evaluation & Modeling Session! $350 Value Call Mike Strange 804-744-3628 or email