Article | March 13, 2020
The fast and efficient flow of information is vital for the healthcare sector to offer life-critical services and patient care. Seamless communication, real-time updates, and putting the crisis response plans into action with minimum activation time are some of the key factors for successful crisis management during a pandemic or other urgent healthcare situations. In pandemic situations, characterized by a large scale outbreak of diseases over a wider geographical area, the bi-directional sharing of critical information between various healthcare agencies and institutions located in different cities and states becomes even more important.
Article | March 13, 2020
Health marketers who want to deliver personalized experiences across all channels must evolve the use of the person-level ID to balance differentiated offerings with privacy. Following Apple’s lead, Google recently announced that Chrome will start blocking third-party cookie tracking within the next two years. Marketers are wondering, what’s left? The ad industry will now begin to replace third-party cookies with new person-level identifiers versus relying on anonymous ID’s. For all media channels in the omni-channel world that have logged in, PII based matching will be even more critical. This will result in greater media efficiencies and more relevant experiences with fewer wasted impressions. Identity management will also become a more critical need as person-level data replaces third-party cookies.
Article | March 13, 2020
Your sales cycle encompasses every action you take to close a new customer as a salesperson. But there is a possibility for the sales cycle to be confused with sales methodology. Sales methodology is a framework in which one practices a sales cycle. Whereas the sales cycle is the step-by-step process of you, as a salesperson, to close a deal with a client.
Piper Drive, a sales CRM and pipeline management platform defines a sales cycle as the series of predictable phases required to sell a product or a service, and that sales cycles can vary greatly among organizations, products, and services, and no one sale will be the same.
Especially with the healthcare industry, a thorough understanding of your health tech sales cycle will make your sales operations more efficient. Shortening the sales cycle without an up-front investment for sales is one of the critical healthcare sales and marketing goals. If you shorten your health tech sales cycle, you get more time to make additional leads. This will ultimately result in having an improved bottom line.
A faster and shorter sales cycle can bring you more advantages in the competitive sales world of your industry. It will indeed allow your company to grow its business by improving market share. Have you ever thought, as a salesperson, about the effective ways to shorten the health tech sales cycle? This article mainly focuses on proactive ways to shorten your sales cycle and improve profitability.
Challenges of Long B2B Health Tech Sales Cycle
According to Marketing Sherpa, a market research institute, the length of the sales cycle can vary from industry to industry. Comparatively, the health tech industry has a longer sales cycle. Still, there are many effective ways to shorten it and bring a positive impact on your sales process.
In general, B2B sales take a lot of time to maintain. Thus, the B2B health tech sales cycle takes even months to close a sale with a prospect and faces many challenges in the process. Some of the challenges you may face, as a health tech salesperson, can be the following on the process:
Turning the Lead to a Sales-Ready Prospect
No health tech salesperson will find a lead ready to make the sale without any persuasion from you. In the health tech sales cycle, lead nurturing should be your best bet to convert a prospect.
With longer sales cycles, it won't be easy to nurture a lead all through the process and make a sales-ready prospect. It would be easier to convert leads when they are ready if you keep in touch with the prospects. People often find it difficult to do so in the long health tech sales cycle and end up not converting potential clients into happy customers.
Maintaining Engagement Over Time
The sales team keeps converting leads on their radar. As days and months pass, it is challenging to memorize each prospect you have interacted with. Neglecting them brings nothing to your business.
It can be a juggle to balance new prospects with existing SQLs. Older ones may get lost in the weeds as new leads come in. No one can tell which one is a higher priority. Whom will you pay more attention to and for how long? It can be a severe obstacle in the long B2B health tech sales cycle.
Keeping Your Sales Team Energized
If your sales team is not engaged with the process itself and enjoys it, they will have a more challenging time dealing with leads. It is a fact that, unfortunately, salespeople can become frustrated or bored due to working with difficult and hesitant leads.
As the health tech sales cycle drags on, it is tough to remain emotionally calm. If you have no strategies to energize them promptly, apathy or discouragement may come into play.
Ensuring Marketing and Sales Alignment
Lack of communication between the sales and healthcare marketing teams can pose the most detrimental challenges. It can impact the health tech sales cycle seriously. This loss of alignment between marketing and sales can hurt lead nurturing and lead to further difficulties like the ones listed above.
When the two teams move out of sync, it often requires a lot of effort to get them on the same page again. These teams can work separately with decisions and different goals, but it would not benefit the entire company.
Five Stages of the Typical Sales Cycle
It is better to understand the five stages of the health tech sales cycle to comprehend how the sales cycle comes into play completely.
This is the stage where the sales team attracts leads and listens to them, and learns to offer what they need.
This is the stage for you to get leads to move forward with your offers. You can utilize all the data you have amassed during prospecting.
As a salesperson, this is when you learn about leads and determine whether the prospect intends to buy.
In this stage of the health tech sales cycle, you offer your product or services as an effective solution for your lead's pain points.
It’s a fit! By now, you know if your lead wants your product or service and move forward.
Benefits of Shortening your Sales Cycle
A shorter health tech sales cycle allows you to meet more prospects within the same time frame. For example, if you take one week for each prospect to complete the cycle, you can meet more people than with a two-week average life cycle for a single prospect. As you meet more people, it allows you to make more money. Moreover, most of the prospects prefer to have shorter sales cycles provided that you fulfill their need and solve their problem.
However, even with a short health tech sales cycle, you should have an effective method to track sales information. Along with a short sales cycle, an effective method will increase your team’s efficiency and sales numbers. You will make more profits and improve your sales cycle.
Ways to Shorten your Long Health Tech Sales Cycle
One of the significant challenges faced by healthcare technology salespeople is shortening their health tech sales cycle. Unlike B2C, the B2B process of sales has to deal with many decision-makers and educate them about the value of your products. Typically, it takes a lot of time and effort to convince your prospects that your solution is customized to meet their unique needs.
However, your health tech sales cycle can become agonizingly long as each prospect can have a different perspective about your solution. It can also occur due to the number of people involved in the decision-making in B2B companies. According to the latest Demand Gen Report, the buyer’s journey is getting more complicated and longer. This makes the sales process worse, which is already tedious.
However, the good news is that you can follow these marketing strategies to shorten your health tech sales cycle tactically.
Understand Your Buyer Personas
Keep yourself away from trying to engage the wrong people. This will not bring you any results in the end. Before commencing the sales process, you should have a clear idea of who your targeted audience is. The decision-makers or influencers in the organizations you are targeting are your buyer personas.
After identifying your personas, by answering the following questions, you can outline their qualities:
• What are their goals?
• What are their responsibilities?
• What trigger drives them to buy?
• What problems are they dealing with?
• How do they like to research?
• What inhibits a purchase?
As you answer these questions, you will get a clear idea of the best way to approach them.
Send an Introductory Video
The prospects get to know the salesperson only in the in-person meeting. So before the in-person meeting, you can consider sending them an introduction video. This would add value and explain why you are interested in them with a ‘call-to-action. It creates familiarity by the time you connect with them. This is a very creative step to shorten your health tech sales cycle.
Provide Pre-Sales Appointment Content
Having a sales appointment with a prospect, who does not know anything about your solution, is one of the biggest mistakes you can make in your health tech sales cycle. This means you may have to have several meetings to convince the client. This problem can be eliminated with a lead nurturing email with informative content. This email can have a link to an informative blog about your product, which was written previously. It will make them peruse your website before the actual sales meeting with you. It saves your time by eliminating many meetings to educate the prospect about your product.
Provide Post-Sales Appointment Content
The prospect is expected to come out with some concerns and objections after the first sales appointment. As a healthcare tech company salesperson, it is your responsibility to eliminate all those obstacles by addressing them strategically. Sending follow-up emails, videos, and case studies helps address those concerns. The content can be used to guide other prospects too. Overcoming these obstacles with effective content can shorten your health tech sales cycle effectively.
Come Clean with Pricing
Pricing of your products can be one of the main concerns for your prospects. Many salespeople address it only at the last stage of the health tech sales cycle. Not revealing the price at the beginning will only lengthen your process. Moreover, it may result in losing trust in you. Be transparent and reveal the price, to save yourself from such issues.
Leverage Social Proof
One of the smartest ways to win the trust of your prospect is to provide social proof. It will also make the deal close sooner. The best social proofs are case studies with the impact of your products or ROI. Remember to make that the company featured in the case study is similar to the particular prospect's company.
In the health tech sales cycle, it is crucial to thoroughly understand the prospect. Your sales cycle should connect with the process of lead nurturing, where you act as an advisor. This will also help you build trust with the prospects and increase your chances of closing the deal before the expected time.
Executing all of these alone would be challenging. At Media7, we help companies market their healthcare technology product with innovative strategies and support by implementing these strategies effectively. Our strategies help attract prospects, convert them and turn them into your happy customers forever. To know more about us, visit https://media7.com/
Frequently Asked Questions
What are the stages in the health tech sales cycle?
B2B health tech sales cycles include seven main stages. They are sales prospecting, making contact, qualifying the lead, nurturing the lead, making an offer, handling objections, and closing the sale. Following these steps help a salesperson to close the sale effectively.
How does the health tech sales cycle help?
The health tech sales cycle helps you identify potential clients and nurture them through the process of sales. It makes you effectively and efficiently guide your clients and gives them the confidence to go forward with more effort.
What are the best practices for the health tech sales cycle?
The best practices for the health tech sales cycle can be attracting more prospects through content marketing, building trust by understanding clients better, focusing on your customers' clients, and knowing the prospect’s organizational chart.
Why is the sales cycle important in health tech?
The sales cycle in the health tech industry helps the sales managers to forecast the accurate picture of your sales. This because they know where your salespersons are in the sales cycle. It also gives a clear picture of how many deals your salespeople close out of a given number of leads.
Article | March 13, 2020
The world is moving towards digitalization in every domain. And now COVID-19 has imposed a need for remote work and communication environments. In that case, healthcare organizations have started utilizing medical software with cutting-edge technologies that could offer mobile health solutions. And they could cater to such needs through a healthcare software development company.
Therefore, the medical institutions must opt for the right healthcare software vendor that is familiar with the new trends in the healthcare sector. Such companies can help optimize digital patient care through health care application development.
Importance of healthcare software development company Or why you need one?
Healthcare software development companies process applications to store, retrieve, and share user data. They are connected globally through cloud services. Partnering with a healthcare software company can avail you of many benefits like:
Better Patient Experience
A professional healthcare software developer can manage your medical software very smoothly and effectively. This could help in delivering better patient experiences. It also enables you to get access to the patient’s information before the appointment.
A dedicated healthcare development company will ensure to deliver faster patient checks with lesser paperwork. The information is filed electronically and considers order prescriptions smoothly.
Easy Scheduling and Maintenance
Healthcare software development services offer a strong scheduling system. It helps in finding out the convenient date and time for the patient’s appointment at their comfort. The medical software is flexible to perform such tasks smoothly. It also solves the issues of overbooking through proper scheduling.
Easy Billing and EHR
Billing is an intimidating task in the healthcare industry. A good healthcare software offers easy billing and EHR facilities. It also helps you automate the processes involved in the EHR model.
Healthcare software development services: Important factors to consider
Focus on usability and ease of use
Healthcare employees have a busy job. So, they prefer a user-friendly and easy-to-navigate interface. Only such an interface could ensure a high user adoption rate.
Additionally, healthcare institutions need to prepare their employees for any changes in their working process that the new software solutions might bring. For that, they need to provide adequate training and support, so that when the time comes, they can derive the maximum advantages out of the software solutions according to Vishal Shah from TatvaSoft.com
Integration with various applications
Various system integration requirements are used to make sure the new solutions work properly with other systems. You should also look further for whether current legacy systems need any upgrades to integrate them with the new solutions.
A professional administration
Access to the data by specialist doctors to update the data is necessary. However, access to the data should be strictly restricted with proper arrangements.
Medical care organizations need proper security measures with laws on data, protection, and other security principles. A leak of patient information is a critical issue that may cause weighty business misfortune. Only the approved staff with rights to oversee the admittance to information and patient records can approach the necessary data.
Development costs depend on the size and complexity of the software or applications which is directly connected to the specific business needs of the healthcare organizations. First, an organization needs to identify key problems that require software solutions.
Also, consider the future IT needs of healthcare institutions such as potential business expansion and its scalability and integration requirements. A mobile workforce can help your organization attain more efficient workflow and enhanced productivity.
Healthcare IT infrastructure
IT infrastructure includes hardware, devices, internet connection speed, and/or mobile 4G connection, and many more. Healthcare agencies need to consider whether such infrastructure will be offered by the development company or if the organization has to use its resources.
While using employees’ resources may compromise security, it is suggested that employees must be given the devices and technologies by the companies. The devices and technology need to be updated on the regular basis.
Questions to Ask Healthcare Software Development Company
We have compiled a list of some questions that could help you get the best and most suitable medical IOS and Android app development partner.
Do you know/understand how HIPAA privacy protection rules might apply to healthcare software products?
HIPAA can be subtle and complicated. Federal and state laws have included HIPAA Privacy, Security, and Breach Notification Rules for the privacy and security protections for hospitals and medical institutions.
There will be many healthcare software developers who won’t be familiar with HIPAA and how it is applied to the products. You must check that out.
Can we sign an NDA?
If your business idea is precious from the IP (Intellectual Properties) perspective then you must ask the app development company to sign the NDA (Non-Disclosure Agreement) before you discuss any details of the project. It is also signed to protect sensitive business details from any third party.
Can I have the contact information of your former clients?
It is vital to have a look at the mobile application development agency before you consider them to hire. However, you won’t get the entire picture and other details but to get that you can ask the company for the contact information of some of their former clients.
Get in touch with their former clients, ask them about their experience working with the agency. The goal is to not only have a great app at the end but also go through an app development process that is stress-free, easy, and enjoyable.
Checking for reviews and references is the key when it comes to hiring mobile application developers.
What is your Software development methodology?
Latest best practices like scrum and agile development are far more reliable compared to conventional methods. Software development companies nowadays practice them to be more efficient and productive. They understand that the market changes quickly and to cope up with it, they need to be capable of adapting to the changes quickly.
How experienced are your healthcare software developers?
Check for the experience of the developers employed by your medical software development partner. They need to be qualified to build medical solutions and deliver them within a predetermined budget and timeline.
How to choose?
Even if you have decided to work with a healthcare software development company, there are hundreds of companies out there, and all claim to be the best in the field. How would you choose the one that can help you achieve your goals?
Analyze their Area of Expertise and their Experience as a Healthcare Software Developer
Quality is the one thing that should be never compromised no matter how complex your demands are. In the software development healthcare industry there are many standards and compliance requirements like HIS and HIPAA that need to be catered to.
Therefore, you need to analyze their area of expertise and their experiences. Only experienced healthcare software vendors can understand and fulfill the critical needs of customers.
However, expertise isn't enough. You also need to look at the certifications to gain deeper knowledge about the healthcare solution developers’ level of professionalism.
Go Through Their Healthcare Software Development Portfolio to Get a Better Idea of Projects and Quality
Go through the portfolio of the potential healthcare software development partner. Look at their past projects in the healthcare domain and check if it matches your requirements. Research about their market reputation and reach as well as find out whether they serve the organizations in your niche.
The key factors to look for in the portfolio:
Types of healthcare software they have delivered in the past
Clients they have served- names, strength, and value
The complexity of projects they’ve handled
The kind of experience they provide to the users
Technologies they excel in
Reviews and Ratings Could Be Helpful
Find out what the customers are talking about this company. Analyze their reviews and ratings. Understand how a particular healthcare software development company deals with their clients and cater to their services.
Carefully Understand their Process
Almost every company has a unique process to provide their healthcare software development services. But all processes generally consists of the following:
1. Requirement analysis
2. Scope freezing
3. Product prototyping
4. Product development
5. QA and testing
7. Post-launch support
These software development processes could follow any approach from waterfall to agile methodology. Know the details of the process from your healthcare software development partner and understand how it aligns with your goals. And never hesitate to clear your doubts.
Know the Cost to Develop a Healthcare Software
Everyone has a budget and make sure you have communicated well about your software development budget with your potential healthcare technology partner. Ask them about the cost to build the software and look for the cost to quality ratio. After gathering all the necessary details, make an informed decision.
Understand the Engagement Models to Choose the Best
Engagement models are the ways of collaboration for the business relationship. You can choose from the following:
A. Turnkey Engagement Model
It is also known as the fixed price model. When you share your demands, you get a fixed quote for the work. This is an ideal model for:
Projects with a well-defined scope
For assigning test tasks to the developers
B. Time and Material Basis Model
In this model, hiring is done based on time and material. A client agrees to pay a hired software development company based on the time the developers spend after developing their products and other relevant tasks. The payments are done according to the mutually agreed hourly rate. The model is suitable when:
Unclear requirements or specifications,
A long-term project with dynamic pricing
The client needs more flexibility
C. Dedicated Hiring Model
As the name suggests, it enables you to hire dedicated resources from the web development company. One can hire a web development company for your project, depending on the number of hours spent by the developers on your project. This model is best suited for:
Clients who are looking for an extension to their in-house team
Those who have unclear project requirements
The hirer is looking for more flexibility
Find out What Does the Healthcare Software Development Company has to Offer Post-launch
You are mistaken if you believe that the healthcare software development cycle ends with the launch of the product. There are chances of hitting obstacles any time and do not forget that the market keeps changing in terms of technology and user demands. This means you might need to upgrade your software or need to add some features to it.
For all such requirements, the healthcare software development agency offers support and maintenance services for a limited time post-launch. There could be specific terms and conditions for it too.
So, before you hire any agency, do not forget to inquire about the support and maintenance services offered by them and its price.
What is the Team Structure that They Would Provide You?
Ask about the team structure offered by the company for your software development project. You can interview a potential team of software developers if you want to. You should do it to assess the capacity of the team. In general, a software development team consists of:
1. Requirement analyst
2. Project manager
3. UI/UX designer
4. Software developer
5. QA tester and engineer
Also, you need to convey your requirements clearly to the software development agency so that they can do justice to your project.
Ability of a Healthcare Software Development Company to Assist You For Expanding Your Software’s Features
The main goal of developing medical software is to increase the efficiency of your operations, automate them, enhance them, and last but not least: offer a better patient experience. Therefore, above all other things, you must check out the ability of the custom healthcare software development company to expand or scale-up the product as per your needs.
Areas of Use
Custom healthcare development is used in the following areas:
Telemedicine is a flourishing branch for custom software development companies in the healthcare business. App development is crucial for telemedicine and healthcare providers because it facilitates teleconsultation and healthcare information. Mobile applications play a key role in sharing medical services and information among patients.
Healthcare portals and patient databases
There is a wide scope for a healthcare app or a patient portal that could compile and store the data categorically over long periods.
This type of storage of health data can be accessible by the doctors in the form of medical records when they are seeing the patient, even if it is the first time. One can pull the data off the EMR and EHR which maintains such a set of data records. To ensure the protection of the data, personal information is kept confidential and only between the patient and doctor, on the portals.
E-consultations and e-prescription
E-consultation is one of the latest practices in digital healthcare services. Mobile apps are developed that are compatible with both iOS as well as Android and are user-friendly.
Such applications enable patients to consult with the doctors remotely based on their healthcare needs and get e-prescriptions as well. They can also get online treatment plans for certain diagnoses through this. The healthcare software developers have similar solutions for virtual billing software and e-pharmacy management.
VR and AR healthcare software development
Since their initial release, Augmented Reality and Virtual Reality have been very helpful in medical care especially in the COVID-19 remote healthcare scene. Ran through a powerful technology stack, AR-VR enables the patient to feel and see how a treatment or a medical device works.
Big Data and AI solutions for healthcare
Healthcare is one of the Big Data industries. It manages the flow of large volumes of medical data daily. To ensure that the collected data is used well, healthcare services are now powered by AI.
Health tracking and fitness apps
Wearable technology is gaining immense popularity these days. The products include smartwatches and bands that could track heart rate, sleep cycles, number of steps walked, and many more. These kinds of applications built by expert healthcare developers are among the most downloaded on the internet.
Custom healthcare software is important for healthcare organizations to make their process easier as possible. The COVID-19 pandemic is further popularizing telemedicine, e-consultation, AI solutions, fitness, and other health applications.
I know choosing a suitable healthcare software development company is not easy, but if you follow the process mentioned in this article, you can get the best and top-rated software developers who create apps for the medical and health care industries.
I hope this article has guided you well to understand better about healthcare software development companies. However, if you have any queries or suggestions, please connect with us in the comments section below.