Study: Med device sales approach fast becoming outdated

Existing medical device sales practices have gone the way of the dinosaur in a market where hospitals are drastically changing how they approach their purchases, the Boston Consulting Group has concluded in a new study released at AdvaMed 2012. The report, as highlighted in The Boston Globe, says companies' old sales approach targeting physicians with medical device goods that can demonstrate incremental improvements over earlier models won't work any more. That's because of consolidated purchasing groups and accountable care organizations. Commercial insurers as well as governments at the federal and state levels are pushing ACOs, which would create incentives to buy devices and other medical products that are both within budget and clinically effective. So what's the future? Successful sales will grow from targeting fewer but larger buyers, the report concludes, with a much bigger emphasis on value.  Story