Business Criticality
The healthcare and medical devices industry 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.
Healthcare and Medical Devices
Industry Intelligence
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Pricing for medical devices going down and 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 come to expect improved user experience (UX), the healthcare industry has begun to digitize products, services, and commerce models
Frost & Sullivan
Business Challenges of Healthcare and Medical Devices
Selling
- 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
C-Suite
- Preserve the value created in offers being brought to market
- Demonstrate ongoing sustainability of 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
Pricing
- 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 healthcare market require dynamic pricing capabilities
- Complex pricing mechanisms like capitated pricing models add complexity to price-setting and analytics
Vendavo Solutions
Commercial Excellence for Healthcare and Medical Devices
Sales Solutions
- Improved Win Rates
- Fast Accurate Quotation
- B2B Ecommerce
- Product Availability
- Guided Selling
- Deal Profitability
- Price Agreements
- Product/Offering Configuration
- Automated Proposal Generation
Commercial Intelligence Solutions
- 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
Pricing Solutions
- 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
SUCCESS STORIES
Global Medical Device Manufacturer
Vendavo Customer Services: 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.