5 Changes in Healthcare Reform That Will Affect Your Business
October 14, 2014Volume-Based to Value-Based Selling
November 6, 2014
The first thing a doctor often says is “tell me where it hurts”? When it comes to healthcare reform, businesses are experiencing many hurts. The manner of how we do business in the healthcare arena has been tipped upside down. Gone are the days when we could sell based on increased reimbursement or presenting a diagnostic device’s clinical features and functions.
In today’s healthcare terrain, it’s about selling value and understanding how your solutions fit into this massive healthcare reform.
In the past 50 years, innovation in healthcare has been centered on improving clinical capabilities, which was desired by clinicians and delivered by suppliers. With reform, this center of innovation is shifting to providers and their evolution of healthcare processes. The more apparent innovations of today center on the coordination of care and population management. Most of the healthcare suppliers that survive this era of healthcare reform will master this evolution.
When I entered the healthcare business, it was 1970, and a much simpler time. Medicare had been instituted just five years earlier, and the full realization of how Medicare would impact the business of healthcare was still unknown. Medicare has fueled the growth of a massive industry, enjoyed by suppliers around the globe. I have remained dedicated to educating the USA healthcare industry on the market realities of the USA markets, and how to traverse the challenges presented by the world markets.
In a world where the leading competitive edge has been “ever superior” clinical technology, ask yourself, how do your products and services improve a providers business operation, such as workflow and providing a positive patient experience? Your provider customers will want to know how you’re helping them improve the effectiveness, and the efficiency of daily operations.
To compete effectively, you’ll need a solid understanding of healthcare reform and how it affects your business.
- What is an Accountable Care Organization? How will this provider business model affect your business?
- How does the CMS Hospital Value-Purchasing Program help or hurt your sales positioning?
- What effect might payment bundling have on your business?
- How do you engage an executive in a discussion of readmission penalties for a hospital?
The answers to questions such as these will separate the companies that will dwindle out and those that will prosper. Indeed, some are already positioning themselves well while others are fading away.
I believe in working from top down, ensuring everyone from the C-suite to managers, strategic and financial teams, financial to engineers, product developers, sales and service teams know the healthcare terrain and how it impacts what they do.
To learn more, download a free whitepaper filled with tips and strategies to help you gain more momentum in today’s market.
The focus of healthcare will be on innovative processes that yield efficacy and efficiency in the delivery of care to larger populations. How will your business meet those criteria?
SAM O’REAR Founder and Senior Partner, General Practice