The commercial ecosystem of the medical device industry is an intricate one. Medical device sales teams constantly watch out for opportunities across the sales process, beyond the overarching life sciences commercial protocol (salesforce structure and deployment, sales activity design, incentive compensation, and operations outsourcing). These intricacies arise from various factors, like the heavy dependence on sales reps, mechanics and scale of the products being sold (sometimes complete health solutions), diversity of the stakeholder entities involved (from market influencers to centralized purchasing teams), and back and front-end supply chain fallouts. Here are some examples.
This blog is the second of a two-part series and highlights two of the four key forces driving changes in the healthcare ecosystem, encouraging medical device companies to rethink their traditional commercial models. Click here to read the first blog.
In the first blog of this two-part series, we highlight two of the four key forces driving changes in the healthcare ecosystem, encouraging medical device companies to rethink their traditional commercial models.
If you could generate billions of dollars in shareholder value, over three years, by revamping your commercial models, would you do it?
Market dynamics are changing the medical device market in unprecedented ways. Accustomed to rapid innovation in their lives as consumers, patients are expecting data and information being generated across various personal (face-to-face interactions) and non-personal (digital interactions on the web and social channels) to be translated into delivering better healthcare outcomes and their quality of lives. The baseline of quality of delivery of healthcare throughout the ecosystem is shifting to much higher expectations, as a result. The medical devices industry faces this challenge every day.
The final countdown to the Veeva Commercial Summit has begun and we are only a few days away from one of the most exciting events on the pharma calendar. This year, besides our interesting lineup of activities at our booth we have a very compelling Commercial Excellence Survey report to share with you. We recently conducted this survey to understand the current state of commercial excellence across the industry.
Axtria shares a long association with Pharmaceutical Management Science Association (PMSA), and we are excited to be back at this year’s conference as a Gold Sponsor. Axtria has a lot of activity planned between April 23rd and 26th with thought-leading presentations, informative conference tutorials, engaging poster, innovative showcases and lots of networking opportunities.