Every life sciences company should include training in healthcare ecosystem and business acumen as part of their brand strategy. Here’s why:
Communicating value to practitioners and prescribers
Today’s physicians are all involved in value-based care, which means they are taking on some level of risk for the population they serve.
For life sciences sales representatives and professionals to be successful in interacting with these physicians, they need to understand the reality of today’s integrated delivery networks. They must be knowledgeable about the value-based programs that physicians are involved in, such as hospital-based systems for reducing readmission penalties or quality reporting systems for physicians.
Having a solid understanding of the context and ecosystem in which physicians practice will allow life sciences sales representatives to effectively communicate the value of their medicine, medical device, or innovation to physicians and the healthcare system.
Navigating healthcare administration and committees
Sales professionals in the life sciences field are increasingly facing barriers in the form of hospital administration and Pharmacy and Therapeutics Committees when trying to get new devices or medications into hospital networks.
To succeed in the value-based care world, sales professionals must be able to demonstrate how patients, providers, and healthcare organizations will benefit from their product. It’s essential to understand the unique challenges of specific providers and their systems to position oneself as a partner and solution provider.
Becoming a credible source of information
Practitioners and physicians are busier than ever, seeing more patients in less time, and facing changes in how they are reimbursed and how drugs and other therapeutics are included on or removed from formularies. They are overwhelmed with all they must keep track of.
Life sciences sales representatives can build successful relationships with these physicians by positioning themselves as partners who can provide helpful and credible information. When sales representatives can share reliable and accurate information not only about the therapeutic, they are selling but also about the nuances of the current healthcare landscape, physicians are more likely to engage.
LiquidSMARTS℠ is here to help. Chat with us to design a program to help your teams develop the business acumen they need.