Image credit: thebalance
The healthcare market is demanding Value now more than ever.
Take the US for example, the Centers for Medicare and Medicaid Services (CMS) have implemented an outcome-based payment system under the MACRA program, which has created a framework that rewards Medicare clinicians for providing higher quality care.
At the same time, several European healthcare systems are even more strict on reimbursement approvals and tariffs based on proven clinical outcomes and economic benefits.
But are sales teams prepared to demonstrate value and quantify the benefits of their products? In most cases, they are not.
Based on our experience with sales- and commercial teams, we will list 3 of the most critical steps to take when implementing a value-based selling (VBS) training program and how to measure its impact on results.
You can’t teach someone something you have never done yourself
There is a lot of theory and information available on Value-Based Healthcare but implementing it and getting the desired results is a completely different game.
If you, or your organization, have not yet implemented commercial strategies in line with Value-Based Healthcare, you should consider bringing in an external team that understands how to quantify value and that could demonstrate it for the appropriate stakeholders.
In many aspects, VBS conflicts with the standard sales approach, which can lead to resistance and skepticism from professionals. Therefore, it is invaluable to have someone who can share real life cases of success and failure, demonstrating the actual results of focusing on value rather than on price.
Is it the plan to train key-account managers with many years of experience? Maybe hundreds of sales professionals across different countries? Or something else?
Each situation is different. Still, an effective training program must be altered to the specific needs and constraints of your audience. For example:
The answers to these and other questions can guide the proper selection of materials, messages and cases to be used during the training. As value relates to specific market needs, there is no one-size-fits-all approach that can be effective in all situations.
Training sessions and follow-up meetings, which are essential to a full training program, should match the audience’s profile. For example, large audiences trained together should have a short follow-up, usually around 30 days after the training, so that the message can be reinforced at the right time. On the other hand, smaller audiences should not be contacted at least 60 to 90 days after they hit the streets, as this will allow them to practice more before checking the results.
Value-Based Healthcare does not exist without outcomes.
In order to measure value, providers must assess specific outcomes that serve as indicators of clinical and/or economic benefits. So, which outcomes should we consider?
Returning to the case of MACRA in the US, Medicare clinicians have their payments adjusted on how well (or how badly) they achieve incentive payment metrics. What if your technology could help them achieve one or even more of such metrics?
On the other hand, would you invest your time focusing on metrics that do not matter? What if you were focusing on how well a certain technology avoids infections, but your client has already implemented an effective infection control program? The point being, outcomes are perceived differently in terms of importance.
It is essential to understand which outcomes need to be obtained in order to demonstrate value.
Market access skills and sales experience must be combined to identify, quantify and demonstrate value. It is not only about reimbursement, price, features, or other isolated aspects. Contact us if you would like any further information about the VBS training program, or how to implement it within your organization.