It takes about 3 to 5 years for FDA to approve any new device in the medical field. Millions of dollars are invested in the research and resources by medical device organizations before the final launch day of the product arrives. New Product Launch is a major investment for any company. A successful launch can bring revenue as well as great customers for the company. A clear launch goal has to be set to understand the objectives and identify the market for the product. Below are the factors that need to be considered in a new product launch in the Medical Device Industry.
We are proud to announce that we will be exhibiting, presenting and sponsoring the upcoming MedForce Conference in Minneapolis June 6-8.
As digital takes over, the healthcare industry also falls subject to this change of industries. Most healthcare professionals are adapting into the technology wave, utilizing resources like iPads and mobile apps. Explore the infographic below to see how digital is changing the healthcare industry.
Leading organizations today are finding solutions to essentially do one thing: eliminate the structural gap between sales and marketing departments in their business. Sales and Marketing departments of any organization are fundamentally different but highly inter-related. To achieve the sales goals of any business it is important that the value proposition communicated to the target customer by both sales reps and marketers is the same.
Innovations and changes in Medical Devices industry are rapid. Mobile technology is revolutionizing medical devices industry today. In the medical device industry sales reps are not mandated to record every conversation with physicians, hospitals, doctors unlike a pharmaceutical company which makes keeping a track of records, data and conversations difficult. But a customer relationship management (CRM) software can have a massive impact on operational efficiencies of sales reps and it gets better; a CRM can help you track every conversation a sales rep would ever have with physicians. Research shows that about 5.9% of the total health expenditures are spent on medical devices. Spending on medical devices has increased by 6% since 1990s. The opportunity for CRM systems to manage and consolidate data for medical devices industry is now more than ever.
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Customer Relationship Management (CRM). Those three promising words. We know we need it, but what do those words really mean? I’ll answer like a lawyer – it depends on the business you’re in. In the world of healthcare B2B, it means a highly complex and dynamic environment that is heavily regulated and increasingly fickle about product value.