Thriving in the Healthcare Market: Strategies from an Industry-Insider for Selling Your Product

At 18% of GDP, healthcare represents a hugely attractive market for suppliers and vendors. This sector requires support from dozens of entities: legal services organizations, design and construction companies, pharmaceutical suppliers, utilities companies, information technology vendors, food services suppliers, consulting firms, medical equipment manufacturers, and many others. Although many of the standard business dynamics apply to healthcare, numerous quirks make this field unlike any other. Every company offering products to hospitals, physicians or any other healthcare organization will greatly benefit from understanding the industry's 'psychological climate.' Just having a great product or service does not guarantee market success. The seller must know how to position its products and demonstrate genuine value. Industry outsiders selling to healthcare often get sidelined if they don't know the sector's unique communication protocols, clinical requirements, financial dynamics, and operating procedures. Even seasoned veterans sometimes stumble over an unexpected speedbump. This book identifiers 84 pitfalls vendors often encounter and provides nearly 200 specific, immediate and actionable recommendations for minimizing or even avoiding them altogether. Although this advice will help anyone selling to healthcare organizations, it is especially relevant for companies introducing emerging, disruptive, transformational technologies.