Whether it’s good or bad, industry news does impact how you approach sales meetings with prospects. Because so much is happening in healthcare, each day can look different, however; it’s still important to be up-to-date on how the industry is changing and evolving so that you can be relevant to your audience that is likely needing to react to the next big story.
Sales Meetings Shouldn’t Be Focused Solely on Your Brand
So, you have the attention of your audience, and while you’d probably love to go on and on about your product or service and why it’s so wonderful, take a step back. Think about how you can construct a narrative that is engaging and takes into account what’s happening in the industry.
If you start from the perspective of the buyer and how something in the industry is putting pressure on them to progress or transform, you can use that as your anchor then fill in all the ways your solution can help them overcome challenges.
Let’s look at some specific industry news trends and how you can use them in your next sales meeting.
Interoperability in Healthcare
Some of the most significant stories in the healthcare industry are associated with technology. While new technology ushers in efficiency and effectiveness, it’s not always easy to merge it into workflows or compel adoption.
Some of the biggest issues and news has to do with interoperability. Healthcare organizations may use a variety of different technologies, including an Electronic Medical Record (EMR) platform as well as something like peer-to-peer secure texting. Getting these two systems and a host of others to work together can be challenging, meaning the organization is not optimizing its investment in the tech.
Thus, you can find a lot of stories about interoperability. In fact, HIMSS has recently updated its definition of interoperability and is seeking public comments. The new definition now includes four types of data exchange: foundational, structural, semantic, and organizational. Further, the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health Information (ONC) have also proposed changes to their interoperability policies.
Being aware of this change is essential to being able to walk into a sales meeting where professionals and clinicians have concerns about it and what it could mean to their IT infrastructure, workflows, security processes, and more. Then consider how your product or service can help alleviate concerns and ensure a successful transition.
Bad News for Some: Healthcare Litigation
There are plenty of lawsuits against healthcare organizations that make the news. In most cases, you may think you should avoid this subject because simply put; it’s usually bad news. However, rethink your position on this. Litigation is a real fear of most hospital leadership. How can you use headlines as examples of what not to do?
MedStar recently settled a claim of kickbacks for $35 million, according to the Department of Justice. The allegation was that MedStar Health allegedly paid bribes to a cardiovascular organization to refer patients to a MedStar hospital. This was the result of a whistleblower lawsuit. There is much to learn from stories like these, and it’s okay to broach these sensitive topics. You can focus on how their organization can put in the right checks and balances to avoid such a smear.
Another recent lawsuit is a sign of modern times. Patients are suing Northwestern Medicine after medical records were posted on social media. Confidentiality of medical records isn’t just a good practice, it’s the law. Yet, many healthcare organizations continue to get into legal trouble on these matters. It’s worth a conversation with your audience about how they are ensuring they follow HIPAA rules and keep patient information secure.
And perhaps it goes without saying, but the new wave of publicity and ongoing fallout around Theranos and the upcoming trial of founder Elizabeth Holmes raises a lot of questions about healthcare investing, fraud, patent abuse, and other aspects of the MedTech industry. Be prepared to discuss it!
New Market Players
Healthcare was once a more closed industry, but with new innovations and opportunities, new players are entering the market, which could be a shake-up for some organizations. You have companies like Amazon investing heavily in healthcare from purchasing an online pharmacy to creating a “HIPAA-eligible machine learning service.” Amazon rarely makes mistakes when entering a new industry, so its entrance has and will continue to make waves. Amazon in partnership with Berkshire Hathaway and JPMorgan Chase & Co is working on a new initiative to improve patient satisfaction and reduce costs for their companies’ employees.
Apple has also made a play in the space, announcing in 2018 that it would test its new Health Records feature with 12 hospitals.
There are also many startups and technology brands vying to deliver telemedicine to meet the needs of patients who want convenience. Healthcare is now shifting toward consumerism, which means more new players will be part of this rising trend.
With all these changes and non-traditional companies expanding their solutions toward the healthcare field, it’s easy to see why this could cause healthcare stakeholders to be concerned about how the whole model of healthcare could be changing. This anxiety can be met with solutions when you take the time to have these candid conversations and discuss what impact these companies will have on their world.
Staying in tune with industry news has many benefits. You certainly want to know what’s happening so your company can begin to respond to it. It also has many advantages when you actually bring into your sales meeting conversations. It shows your prospects or clients that you are following trends and gathering insights. Your audience needs to understand how industry news impacts them and how your company can help them navigate healthcare in the 21st century.
Want more great tips and data to accelerate your sales? Then rely on Carevoyance for thought leader content and a variety of solutions for selling to hospitals and doctors.
About the Author
Carevoyance contributor Beth Osborne is a professional writer and content marketer with multiple years of experience in healthcare IT marketing. Learn more about her by visiting her website.