The rise of new technologies has led to exciting advancements in health care. Wearable devices and patient platforms allow providers and researchers to collect real-time data on patients’ progress, as well as information on populations’ overall health. Data analysis promises to offer a new range of deep insights on health and healthcare.

These new technologies, however, also tend to come with high price tags – at a time when rising healthcare costs are already a major concern for providers, payers, and patients. Value-based healthcare offers a way to address these concerns while benefiting target populations with new healthcare breakthroughs.

How Can You Embrace Value-Based Care in Your Sales Approach?

What is Value-Based Health Care?

Value-based health care focuses on the value of using a particular approach to diagnosis, prevention, or treatment. It takes a broader look at patient treatment as a whole, rather than focusing on one specific condition or encounter.

By taking this broader view, value-based health care allows sales professionals and providers to intervene in more effective ways. For example, a sales rep might:

• Discuss ways to use medication as part of a preventative regimen, as well as to treat target conditions.
• Explore methods of lowering out-of-pocket costs through innovative payer relationships,
• Partner with other sales teams to provide a more comprehensive approach to common patient concerns – such as by working with a team to offer pressure sore treatments alongside prosthetics.

How to Communicate Value in Your Sales Approach

Value-based healthcare offers an exciting opportunity for sales professionals who love learning and innovation. To communicate value in your sales work:

• Talk to customers and clients about their big picture concerns. What conditions or patient needs tend to “buddy up”? How could a procedure or method proceed more smoothly?
• Stay on top of regulatory changes. Regulators and lawmakers frequently adopt rule changes to boost value in health care. By staying on top of these changes, you can spot ways to improve your own customer relationships.
• Build your professional relationships. The broader your professional network, the more likely it is that you’ll know the right person to consult when you have an idea or want to ask a question.

Looking for a new role in medical sales? At SMR Group Ltd, our recruiters connect sales and marketing professionals to some of the best roles and employers in the biotech, pharmaceutical, and medical device industries. Contact us today to learn more.