Medical Devices

Med tech, medical devices,
and diagnostics

Develop confident commercial strategies to motivate rep behavior, fuel productivity, and drive business growth.

Read Blog / Driving quicker, data-driven decision making and increased productivity

Overview

The medical devices industry is highly intricate and constantly evolving. It faces constant macroeconomic pressures and hosts a dynamic customer and product portfolio. Due to the underlying complexities, the end-to-end commercial process can be under-rewarding. Limited facetime in today’s virtual world creates a hurdle for medical device sales and marketing teams to meet targets and optimize performance. Companies need to prioritize data-driven and insights-oriented operations to succeed in the highly competitive market. Accurate planning, communication, and execution of sales operations are critical to ensure commercial excellence in the medical device industry.

Challenges impacting the medical devices industry

Stringent regulatory environment

Stringent compliance and audit requirements
Outcome based contracting models
Increasing cost pressures

Complicated sales process

Demonstration and services oriented selling
Demand for clinically and technically skilled reps
Complex sales crediting rules

Data complexities

Disparate and disjointed data sets
Lack of formalized sources of data
Large unstructured data sets

Dynamic customer base

Multiple selling contact points
Paradigm shift towards virtual sales channels
Relation-based purchase decisions for certain products

Volatile product portfolio

Intricate products hierarchies
Rapid product innovation
Fast product obsolescence

Read Blog / What Is The Impact Of IDN Consolidation On The MedTech Sales Function, And How Can It Adapt To The Evolving Healthcare Market?

Read Blog / The Evolving Landscape Of MedTech For 2023 And Beyond

Our solution

Axtria’s medical devices solutions, powered by product suites such as Axtria SalesIQ^TM – Axtria’s integrated cloud-based product suite, can manage the end-to-end planning and operations workflows, with complete audit trails for compliance. They can drive the correct behavior to achieve strategic goals and company vision while improving productivity across various business and support functions, including sales field and management, human resources, finance and accounting, compliance, customer service and success, and account management.

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