Hospitals are undergoing unprecedented changes. As hospitals determine the best strategic path forward – standing still is not an option. Among market leaders the journey of change has already begun and will continue as the future unfolds.
One factor affecting the strategic paths hospitals choose is that all decisions including those relate to quality, patient care, and technology will be viewed through a financial lens. Hospitals are facing significant financial pressures from reimbursement reductions. so executives are aggressively seeking innovative and creative approaches from their suppliers for increasing patient care while simultaneously reducing cost.
It’s more important than ever for MedTech salespeople have an effective strategy for selling at the senior executive level in hospitals. But a warning … you don’t have many opportunities to get it right and if you get it wrong the first time, you probably won’t have a second shot.
Selling to the Hospital c-Suite
Selling to the c-suite isn’t a new idea, but it’s becoming increasingly important and it is getting increasingly difficult to gain their attention. They’re busy with internal and external demands, yet they are seeking new ideas and insights that will help set them apart from their competitors.
So what can MedTech salespeople do? According to the C-Suite Project, all salespeople – regardless of industry – should consider three areas when interacting with the c-suite: content context, and conversation when focusing on the c-suite:
- Content. For the c-level, content is everything. They expect the content to be customized to them, delivered in a straightforward and actionable way. What they are not interested in is in-depth discussions about products. The expectation is that the salesperson can bring fresh ideas – new perspectives on how to reframe their problems and creative points of view about how to solve them.
- Context. Meetings with the c-suite should be short and personalized – tailored to their interests, challenges and opportunities – so the discussion engages them professionally and personally.
- Conversation. We’ve said this before – the best sales calls are conversations. Nowhere is this truer then when selling to the c-suite. It is all about talking with them – not at them.
To jump-start your conversations with the hospital c-suite, the American Hospital Association survey of 1100 executives (95% of whom were CEOs). They shared their top 7 strategic priorities in the hospital c-suite. Becker Hospital Review summarized them in a great infographic – take a look.
Want to learn more about MedTech sales strategies? Download our white paper – Getting MedTech Sales Strategy Right.
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