You're pitching to a budget-conscious clinic. How can you prove the cost-effectiveness of your product?

Understanding customer needs accounts for 50% of successfully selling a product. Providing the right solution can lead to a purchase even if the product exceeds the budget. Additionally, explaining how the product can save hidden costs offers another effective sales strategy

Nosso produto é desenvolvido com os mais altos padrões de qualidade e durabilidade. Isso significa que, embora o investimento inicial possa ser ligeiramente superior, a vida útil do nosso produto é significativamente maior. Menos substituições e manutenção resultam em uma economia substancial a longo prazo. Além disso, nossos produtos são cobertos por uma garantia abrangente, oferecendo maior tranquilidade e proteção ao seu investimento

First of all, make sure that you and your company are genuinely interested in this business. This is important because you may need to put in more effort into this deal than usual. Show them that your price includes more services than they are expecting to buy. This will give you an advantage in the negotiation. Be trustworthy. This is very important. If you don't have this in mind, you will not be able to close this deal.

If you understand your customers' needs, you have the ability to address those needs with the feature and benefits of your specific product. Highlight how this specific product will improve patient outcomes while saving the company money and decrease hospital days/pt stays.

The concept of “value” & perceived cost savings is often misconstrued. Commodities are typically negotiable based on cost & competition, but they may not necessarily contribute to process improvement or safety. It is crucial to distinguish products that offer inherent process or efficacy benefits. The objective is to promote true clinical value analysis & cost-benefit assessments, rather than focusing solely on comparative “cost” savings on perceived like products. In the realm of surgical products, it is feasible to extract data from the EHR. As a company, we emphasize induction to incision times and the influence of processes and BMI. By doing so, we can extract objective data essential for genuine cost-benefit, ROI, & true value.

Hospitals, especially budget-conscious clinics, prioritize value. You first need to identify their pain points, starting with empathy and acknowledge their budgetary constraints. Also uncover hidden costs as hospitals often underestimate ongoing expenses. Then quantify savings with feature benefits by focusing on the ones that directly address their pain points such as: reducing staff time, decreasing waste or have an improved efficiency. Go beyond acquisition cost by presenting a total cost of ownership analysis. This lies on the product's initial price, but also lifespan, maintenance needs and ongoins costs like consumables. Also highlight long-term benefics like improved patient outcomes and increased patient satisfaction.

A budget conscious clinic, and every clinic should be like that, should monitor the cost behind their patients. That means the value of a product will always depend on when it is used along the patient pathway. This is also called “clinical relevance”. For example, a diagnostic device may impact the entire patient pathway while a therapeutic drug or device may make the treatment more effective. Think along the patient pathway, and not about your product or its features.

In sales you could always talk benefits about your product but I have found that people are more afraid of what they could lose than gain so find that benefit that they will not want to miss.

I think one must understand what the clinic values first. So many things influence where value is derived. For example… - Fee for service vs. value based - Profit driven vs. nonprofit - Patient referral vs. physician recruitment This list is NOT exhaustive. These are just a few top-of-mind ideas that must be understood before attempting to define value in the heath care space.

Investir em qualidade reduz custos a longo prazo, um ponto crucial para negocios focados no orçamento. Destaque a durabilidade do seu produto, mostrando como ele requer menos substituições e reparos que alternativas mais baratas. Isso resulta em economias diretas e reduz o tempo de inatividade e inconveniências, que são custos indiretos significativos para prestadores de saúde. Demonstre que seu produto, feito para durar, é um investimento inicial inteligente e econômico.

I call it a laundry list. List down all that your system can save even if it's a small amount. Ex- if your system can control over the printouts. Find out how much it cost per print outs including stationary and how much can be saved. Extrapolate over a long period, say a year and the figure will be substantial. It gives a phycological effect to the clinic owner. That brings out the passion in you to help the clinic save and improve. It also helps you negotiate better and justify your cost.

A análise de retorno sobre investimento (ROI) é uma ferramenta poderosa para provar a relação custo-benefício. Utilize métodos como a análise SWOT, que já apliquei com sucesso em marcas como Bigfral, para quantificar quanto a clínica economizará ou ganhará usando seu produto. Compare os custos das práticas atuais com os do seu produto, incluindo economias com complicações reduzidas ou maior eficiência. Essa análise concreta traduz benefícios abstratos em números reais, facilitando a decisão favorável da clínica.

ROI can be demonstrated in various ways. For instance, one method involves showcasing a product that effectively reduces the risk of infection, allowing calculation of the cost savings in treating surgical site infections. This approach falls under the realm of Healthcare Economics. Another way is to explain the time and resources a company will invest in product training and ongoing education.

Patient satisfaction increases the likelihood of choosing the same hospital due to improved treatment and quality products, ultimately enhancing quality of life. This also boosts hospital reputation through positive word of mouth.