Hospitals gain leverage on medical device pricing
Cost pressures have driven rapid consolidation in the hospital sector over the past decade, bringing local healthcare facilities into integrated…
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Healthcare & Medical Devices
Jump into the new age of expanding and sustaining profitability through channel delivery, appropriate incentives, and compliance risk alignment.
Business Criticality
Navigating strict government regulations along with coordinating across providers and distributors requires a strategy that eliminates margin leakage and compliance risk.
You must take a proactive approach to your value capture strategy by reducing inconsistencies and delivering fact actionable insights from quote to order. Healthcare and medical devices companies must balance strong demand growth with increasing complexity in healthcare business models to ensure sustainable profitability.
Vendavo is the market leader in working with healthcare and medical device companies to modernize their quote-to-cash processes and deliver a superior customer experience while optimizing profitability.
How Does Vendavo Unlock Growth + Profitability?
Price Setting
Capture market share by leveraging value in every moment.
Create dynamic pricing models that are constantly updated to reflect current supply and demand, product lifecycle, and market dynamics of medtech. Quickly simulate pricing strategies then set prices and promotion programs based on statistical segmentation across customer types, product type, and more.
Decrease
in Medical Device Pricing
is creating selling challenges
Gain Actionable Insights
Deploy an informed strategy that delivers against customer expectations and competitive threats.
You’ve got data waiting to be leveraged by your commercial and sales teams. Turn it into actionable insights to increase win rates and instill trust across your customer base.
2-5
EBIT Improvement
for Medtech companies that support richer, more reliable data, and adequate tools
Product Configuration and Quoting
Enable Ecommerce for your healthcare and medtech business.
Analyze every data point to build up a picture of current offerings performance to drive action that improves customer and product specific-pricing. Make it easy for customers and sellers to configure valid complex product offerings and submit for quotes at the speed of digital commerce.
15
Growth Rate in Healthcare ECommerce
as tech-savvy millennials come to expect improved user experience
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Customer Success Story
From Implementation to Outcomes
Join Megan MacLean, Pieter Knols, and Mitch Lee as they outline key benefits for healthcare and medical device customers working with Vendavo’s team.
Industry Challenges & Vendavo Outcomes
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 and analytics
Outcomes
- Automated Intelligent Pricing
- Price Optimization
- Dynamic Pricing
- Centralized Price Management
- Market Data Management
- Transfer Price Management
- List Price Management
- Pricing Guidance
- Pricing Analytics
- Incentive Management
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
Outcomes
- Improved Win Rates
- Fast Accurate Quotation
- B2B Ecommerce
- Product Availability
- Guided Selling
- Deal Profitability
- Price Agreements
- Product/Offering Configuration
Automated Proposal Generation
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
Outcomes
- Artificial Intelligence
- ERP and CRM Integration
- Margin Optimization
- Deal Negotiation Insights
- Price Volume Mix Analysis
- Advanced Segmentation Modeling
- Predictive Business Alerts
- Configurable Dashboards
- Advanced Commercial Visualization
Healthcare & Medical Devices BRANDS POWERED BY VENDAVO
Our product offerings are diverse, leading to different pricing set ups…Vendavo allowed us to do a detailed analysis of low value orders. Biggest benefit is our ability to identify low-hanging fruit – profit drainers – in products, customers, [and] transactions.
Trending Resources for Healthcare & Medical Devices
Healthcare and Medical Devices
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