Pricing and Selling Solutions for

Healthcare and Medical Devices

Businesses in the healthcare industry face many hurdles. Evolving market conditions, manufacturer pressures, supply chain disruption, loss of renewals or contract changes, complex configurations, and regulatory risks are impacting healthcare and medical device companies and channels like yours. It is time to digitalize and modernize your pricing and selling processes with Vendavo. 

We’ll help you grow profits and revenue so you can keep improving outcomes and quality care and the reliability for your customers, patients, and consumers. 

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A Medical Device Maker’s Innovations Achieve Greater Value for Healthcare – And Its Bottom Line

This global leader needed a way to manage and process their centralized pricing strategy for hundreds of thousands of SKUs across the world. This was to ease the industry, market, and business changes they needed to preserve margins and pushback on any internal and external pressures.

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Decrease

in medical device pricing is creating selling challenges

KPMG

2% – 5%

EBIT improvement for MedTech companies that support richer, more reliable data, and adequate tools

Boston Consulting Group

15%

growth rate in healthcare ecommerce as tech-savvy millennials expect improved user experience

Prost & Sullivan

Digitalizing Healthcare Processes

Connecting with customers, patients, and consumers through digitalization is fundamental to change how medical devices and healthcare processes operate.

At Vendavo, we are dedicated to understanding the complexities of the healthcare and medical devices sector so we can build the strongest possible pricing and selling solutions. We’ve served manufacturers and distributors for more than 20 years and we’ve engrained that knowledge and experience into our products and process.

Addressing your business needs with Vendavo’s CPQ and sales optimization tools allows you to unify your pricing processes, better analyze your pricing and sales data, and drive higher margins despite market disruptions or changing conditions.

Intelligent CPQ for Healthcare & Medical Device Manufacturers 

For healthcare equipment and medical device companies, CPQ solutions are pivotal in honing complex sales processes of highly customized products from Vendavo enables companies to optimize the sales process configuration, pricing, and quotes of their products, all while meeting demands like:

Customization
Medical devices demand patient-specific customizations and standards. Intelligent CPQ helps configure products to meet healthcare providers’ exacting specifications.

Regulatory changes
Constant regulatory shifts demand adaptability. Intelligent CPQ updates swiftly to maintain product configuration compliance in product configurations.

Complex sales processes
Healthcare equipment sales involves multiple stakeholders and lengthy processes. Intelligent CPQ centralizes and streamlines from quote to sale.

Integration with ERP and CRM
Intelligent CPQ seamlessly integrates with ERP and CRM systems, enhancing data flow and operational efficiency.

Managing updates and variants
Product updates and new variants in medical devices are managed efficiently by Intelligent CPQ, ensuring sales teams have the latest product data.

Intelligent CPQ offers a comprehensive approach to managing the sales of healthcare and medical products, providing a driving force for efficiency, conversions, and compliance.

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Leading Solutions for Common Industry Challenges

Challenges

  • Value delivered to consumer/customer is difficult to measure and translate to pricing guidance
  • Managing pricing across complex contractual arrangements is cumbersome
  • Proliferating regulatory requirements
  • Dynamic changes in the healthcare market require dynamic pricing capabilities
  • Complex pricing mechanisms like capitated pricing models add complexity to price-setting analytics

Vendavo Solutions

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Challenges

  • Complex payor/provider/purchaser relationships
  • Increasing transparency, price pressure, and commoditization
  • Rapidly changing commercial and regulatory environments
  • Lack of relevant customer context for deal negotiation
  • Lack of an integrated view of the customer

Vendavo Solutions

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Challenges

  • Preserve the value created in offers being brought to market
  • Demonstrate ongoing sustainability of the business model
  • Limited understanding of how to appropriately treat customers to match value offered to customer willingness-to-pay
  • Limited ability to adjust to or meet changes in the market
  • Sales teams are struggling with executing deals appropriately to acquire and retain customers
  • Lack of integrated eCommerce and direct sales commercial processes

Vendavo Solutions

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Real value, and how it gets priced in healthcare will continue to change for patients and providers, but we’re ready for those changes with our Vendavo solutions. It’s all part of helping us fulfill our mission to alleviate pain, restore health, and extend life.

Team Leader

Leading Medical Technology Company

We get new pricing done in hours now instead of weeks. We have multiple departments that must collaborate on pricing such as finance, marketing and sales, Pricing workflow is built into Vendavo so that as calculations and decisions are made, everyone can see the work, access the latest pricing and get the information out to the field faster.

Leader

Global Medical Device Manufacturer

Our product offerings are diverse, leading to different pricing set ups…Vendavo allowed us to do a detailed analysis of low value orders. The biggest benefit is our ability to identify low-hanging fruit – profit drainers – in products, customers, [and] transactions.

Rudolph Prestele

Financial Controller

Latest Vendavo Resources for Healthcare & Medical Devices

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    For high-tech companies, the ever-increasing speed of innovation can be a double-edged sword. The upside: introducing new tools and technologies opens up tremendous cross-sell…

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  • Aftermarket Value Outcome

    Learn how aftermarket industry trends and challenges are driving a strong case for change in the profit optimization process.

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  • 5 Key Pricing Challenges

    We all face challenges when developing commercial tactics that profitably support our carefully crafted strategies. Whether it be for Products, Channel or Value Chain…

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