Understanding Stakeholder Perceptions in the Healthcare Industry: A Key to Success

 

Various MedTech stakeholders in a meeting

 

In the complex landscape of the healthcare industry, understanding the perceptions and needs of various stakeholders – doctors, payers, providers, and patients – is crucial. Each group has unique priorities and plays a different role in the purchasing process. However, it’s important to note that these roles can vary based on the country and even region. Therefore, it’s imperative for medical companies to have an updated stakeholders map to understand the influences and decision-makers of the purchasing process.

Patients and Physicians: The Clinical Perspective

Patients and physicians are typically more concerned with the clinical benefits of a medical product. They want to know how it will improve health outcomes, reduce symptoms, or enhance quality of life. However, their influence on the purchasing process can vary greatly. For some products, especially in the realm of digital health, patients may be the primary decision-makers. In other cases, they may have little to no influence on which medical product is selected. Understanding this dynamic is crucial when crafting value messages and marketing strategies.

Providers: The Economic Perspective

Providers, who have consolidated themselves into large buying groups, often have a significant influence on which medical product is selected. They are often more interested in the economic value of a medical product. They want to know how it will affect their bottom line, whether it will reduce costs, increase efficiency, or enhance patient satisfaction. However, the extent of their influence can vary based on the country and region.

Payers: The Financial Perspective

Payers, particularly verticalized payers who manage their own providers, are primarily concerned with the financial implications of a medical product. They want to know how it will affect reimbursement rates, healthcare costs, and overall financial sustainability. Their influence on the purchasing process can also vary based on the geographical context.

Understanding these different perspectives and their influence on the purchasing process is crucial. It’s not enough to simply know what each stakeholder is looking for. Companies need to understand the role each stakeholder plays in the purchasing process and tailor their value messages accordingly.

ValueConnected’s Involvement

This is where ValueConnected comes in. We help companies gain these insights and use them to shape their strategies and implementation plans. We ensure that your product is not only valuable but also meets the real needs of the market.

In the challenging healthcare market, it’s not enough to have a superior product. Companies need to demonstrate value and understand demand. And that’s exactly what ValueConnected specializes in. We help companies navigate the complexities of stakeholder perceptions, ensuring their products not only survive but thrive in the competitive healthcare market.

Don’t just compete – stand out. Let ValueConnected help you understand stakeholder perceptions and navigate the competitive healthcare market with confidence.