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

Interesting, engaging and informative with good examples. As Chief Medical Officer of a biotech startup that has to sell into the C-suite, I will be buying copies for our entire sales team.

Bob Lubitz, MD, MPH, FACHE, MACP

Chief Medical Officer, 3Oe Scientific, Inc.

At 18% of GDP, healthcare represents a hugely attractive market for suppliers and vendors. Any sector this enormous 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 identifies 84 pitfalls vendors often encounter and provides nearly 200 specific, immediate, and actionable recommendations for minimizing them or even avoiding them altogether. Although this advice will help anyone selling to healthcare organizations, it is especially relevant for companies introducing emerging, disruptive, and transformational technologies.