Featured Insights & Trends

4 Strategies to Keep Up With Medical Device Sales Trends

The world of medical device sales is exhilarating — and oftentimes dizzying. Sometimes, it seems trends aren’t changing by the year but rather by the hour. The brightest minds of today are creating the technological revolutions of tomorrow.

Beyond product developments, consumer knowledge and self-advocacy are growing at an accelerated rate. This age of information is forever changing how medical sales companies and reps are able to approach sales strategies.

No matter the trends, they can be both exciting and intimidating for medical device sales reps. Knowing how to stay on top of a whirlwind of changes is overwhelming. However, it must be done to reach the top of the sales leaderboard and stay there.

Adapting your medical device sales strategy to constantly changing trends is critical. So we’re here to help you do it effectively:

1. Implement a quality vs compliance sales strategy

The medical device sales industry was once notorious for going down a compliance sheet and simply checking off necessary boxes. That trend is becoming obsolete as the FDA continues to tighten regulations.

As a result, medical device sales has shifted to a quality-focused industry. Leaders and developers understand creating these life-changing devices is about impacting consumers’ lives, not about completing a checklist.

Implementing this same mindset into your sales strategy will help you focus on how a product will improve consumers’ lives. Ditch your checklists and start focusing on customers as individual cases:

Shifting to a quality-focused mindset will ensure you position your product as relevant and necessary — no matter what trends hit the market.

2.Connect your product to modern trends

Patients aren’t going to doctors as their first source of medical advice. They’re educating and advocating for themselves more than ever. In fact, a 2018 Doctor.com report revealed 80 percent of patients have used the internet to make a healthcare-related search in the past year.  

With advancing technology, information will become increasingly accessible to the public. The way people access this information will influence healthcare trends as they become more prevalent outside the walls of the healthcare community. And more often than not, patients have more time at their disposal than doctors to research new medical products.

In order to effectively maintain your position as an advocate for patients, you must find ways to connect your product with the mission of those trends.

Then, compare this list of benefits to the trends consumers are currently responding to. Use the similarities between your product’s purpose and those trends to connect with customers on their patients’ needs.

3. Prepare yourself for political shifts

Political shifts have a major impact on medical device sales developments and regulations. Being an expert on current and potential shifts helps you prepare for future changes. This gives you the power to answer unexpected customer questions and adapt to sudden changes.

For example, in the U.S., the medical device tax caused concern for many manufacturers while in effect (2013–2015). However, the tax was paused in 2015. Medical device sales reps must be prepared, though, for legislation like this to go into effect at any moment.

Keep up with quickly changing legislation by adding online political newsletters and reminders to your inbox. The faster you know about possible changes, the easier it will be to adapt your strategies.

4. Immerse yourself in the healthcare culture

Medical device sales is a small portion of the healthcare community. Staying on top of trends in your field means immersing yourself in healthcare’s culture as a whole.

Make time to get out of the office and attend events. Network with other healthcare professionals to see what trends are impacting them and how they’re handling the changes. Sign-up for webinars and conferences focused on updated policies, patient experiences, and even healthcare data.

Don’t forget about diving into situations outside of the classroom and offices:

As you learn more about these end-users, you’ll have even more in-the-moment knowledge on what’s impacting them and your customers directly. Continue to immerse yourself in the healthcare world and don’t be afraid to step outside of medical device sales.