Are you looking for how to sell medical equipment to hospitals? If YES, here are 10 strategies to sell medical equipment to hospitals in 2021. Medical supplies are indeed one of the biggest expenditures in most healthcare organizations’ budgets, second only to Staffing. Managing a hospital’s supply chain is quite a daunting and complex undertaking, fraught with opportunities for inefficiency at every step of the process.

With financial pressure on healthcare organizations growing massively each year, supply chain managers are making purchasing decisions very carefully. They are expected to extensively analyze the need for supplies, identify exactly what is required, evaluate options, and plan for a careful introduction of and support for the products they select.

Hospitals and other medical facilities can acquire supplies through a group purchasing organization or negotiate directly with distributors or wholesalers, all of whom are doing a larger share of their business online. As a medical supply company, selling to hospitals is important and lucrative when done right.

Hospitals are major employers and consumers of a variety of goods and services. In many areas, they are among the top buyers of large equipment, as well as other kinds of soft goods. Though there are many large medical supply companies, it is very much possible for a small independent medical supply business to find success in this industry.

If you are eager to start a retail business and would like to work in the health care industry, consider starting a medical supply company. However, to be very successful in this line of business, it takes more than just building strong relationships with the surgeons. With an ever-changing complex healthcare system, you have to be able to adapt your selling strategies to meet the demands of multiple stakeholders.

10 Steps to Sell Medical Supplies to Hospitals

Note that to sell to hospitals, it is necessary to become a qualified vendor, evaluate the hospital’s needs, and sell to hospital administration. Have it in mind that selling to hospitals can be a consistent and excellent source of income for supply businesses looking to improve their bottom line. Here are processes and steps to consider;

  1. Understand Hospital Regulations And Standards

As a medical supplies vendor, the products and services you offer need to be good enough to fit the hospital’s mandatory standards for purchase. Take your time to research and read the medical regulations in your state or area and make sure that your wares comply.

Note that different states may have different regulations, so it is necessary to know the standards for the state you are selling in. Your goods or services also need to be of high quality and recognized by medical organizations.

  1. Know National Medical Regulatory Agencies

In the United States, the Joint Committee for Accreditation of Hospital Organizations (JCAHO) plays a huge role in how hospitals run their business and, potentially, from whom they will buy. This agency often gives accreditation to hospitals and verifies hospital purchasing choices meet their standards.

Note that you can find manuals on the standards for different units, wards, and types of hospitals on their website. These manuals may help you when analyzing the correct standards for medical equipment or other goods and services. Furthermore, JCAHO offers best practices for hospitals on its website. While these may not illustrate standards for goods and services, they can tell you a lot about the potential needs of different hospitals.

  1. Obtain Vendor Qualifications

In the United States, it is very crucial to be able to prove compliance with regulations or other quality control for goods and services. Note that this can take the form of certification for applicable items as well as less formal qualifications. You will have to fill out a qualification form available at each individual hospital or on their website.

All  these forms take a variety of shapes, but will detail the regulations your goods and services must meet. Extra vendor qualification forms may include a statement of hospital-specific standards vendors are expected to meet. This may include product regulations as well as product standards required from vendors.

  1. Source Your Goods

Create wholesale accounts with distributors of medical equipment suitable for hospitals and medical centers – buying wholesale is necessary to make a profit. Distributors can be found online, in phone books, and in business directories. You will likely need to provide business documentation and order a minimum dollar amount to open a wholesale account.

  1. Analyse Hospital Needs

Right before you ramp up a sales initiative toward a hospital or similar facility, it is quite possible to do an analysis and evaluation of just what the client may need. Note that this can be done with any kind of observational information, even just based on a walkthrough of the facility or talking to staff on an informal basis.

In your walkthrough, note that you may even notice out-of-date or older equipment. If you are selling equipment, then it may be useful to focus on updating the hospital’s technology. However, depending on the region, you may have to set up a formal appointment to talk to the hospital staff.

  1. Talk To The Right People

Have it in mind that you will need to know how to reach staff at all levels of the hospital operation. This will help you to connect and fill the needs of that facility. Note that phoning the hospital administrator directly may not be the best idea.

Once you are on the approved vendors list, you will have to initiate an appointment to talk to the administration in a more formal manner. You may also want to talk to prominent doctors in the hospital, especially if it is a hospital with a specific medical focus. However, find the head of different departments to ask them about their needs within the hospital.

  1. Reach out to senior administration

Note that senior hospital administrators tend to have a lot to say about purchasing. You should listen to them about their needs before starting your own sales pitch. When you finally get an appointment with the administration, listen to what they have to say about their needs first.

Note that by listening attentively, you will show that you are interested in working together in a mutually beneficial way. Before pitching your own products, state back to them what you understand as their needs. This will make it clear you are on the same page before you try to sell your own goods and services.

  1. Understand Sales To Hospital Administrators

Have it in mind that the best practices in selling to hospital administrators will vary, depending on the type, location, and administrative structure of the hospital. For instance, try to avoid speaking from a set “script” when selling to hospitals.

Hospital administrators want to be heard and a script makes it seems like you were not listening. It is not always necessary that you make an immediate sale with a hospital administrator. Sometimes, it is better to cultivate a long-term relationship with them so they will talk to you when making future purchasing decisions.

  1. Market Your Business

Market your medical supply business to hospitals, especially those within your city. Send flyers and coupons, sponsor medical conventions or health fairs, and send news releases to local medical associations and professional groups.

It is also a good idea to make yourself visible to the administrator and senior staff. If they purchase something from you, keep up to date with the status to guarantee they are satisfied. This will help to guarantee more sales in the future.

  1. Stay Reachable

Hospital administrators should know how to contact you in the future. In addition, it may be ideal to talk to prominent doctors and heads of departments so they know how to get hold of you when making future purchasing decisions. Administrators may be more comfortable talking in person, on the phone, or via e-mail. It is important that they can get a hold of you when they need something; otherwise, they may go to another vendor.

Conclusion

Selling to hospitals is important, especially if you are in the medical sales field. Hospitals are major consumers of a variety of goods and services. Consider offering incentives for medical professionals and hospitals to patronize your medical supply company. For instance, you can offer discounted or free shipping, free delivery within your local area, or volume discounts.

Frequently Asked Questions

  1. How Do You Sell Medical Devices To Hospitals?

Here are few tips on how you can sell the medical devices to hospitals;

  • Build a Strong Network with Hospitals
  • Never Miss on Follow-Ups.
  • Make the Most of Email Marketing.
  • Adopt the Storytelling Method.
  • Don’t Be Shy to Ask for Referrals.
  • Be Ready for Complex Conversations.
  • Empower Your Medical Sales Representatives with Resources.
  • Consider a Reliable HIPAA Compliant CRM
  1. How Do Hospitals Purchase Medical Supplies?

Hospitals and other medical facilities can purchase supplies through a group purchasing organization or negotiate directly with distributors or wholesalers, all of whom are doing a larger share of their business online.

  1. Who Buys Medical Devices For Hospitals?

While committees of doctors have a major influence, input may also come from executive leaders, administrators, and department heads.

  1. What Companies Sell Medical Supplies?
  • McKesson
  • AmerisourceBergen
  • Henry Schein.
  • Cardinal Health.
  • Medline Industries.
  1. Is It Hard To Get A Job In Medical Sales?

Medical device sales is a highly competitive and demanding field, but it is also very rewarding, so it’s no surprise that many people want to get into this industry and begin their career path.

  1. What Job Builds Medical Devices?

Manufacturing engineer roles are specific to medical devices as these are the technical personnel that improves manufacturing processes by researching, designing, modifying, and testing manufacturing equipment. These engineers are also responsible for assembling the medical devices.

  1. What Is The Process For Selling A Medical Device To The Military?
  • Find available opportunities with the military relevant to the supply of medical devices.
  • Make necessary preparations for bidding on a medical device supply contract.
  • Submit an offer when it is requested.
  1. How Do I Become A Medical Equipment Sales Rep?
  • Pursue an education
  • Consider earning certifications
  • Choose a specialization
  • Gain field experience
  • Complete training
  • Network
  • Grow an online presence
  1. What Machines Are Used In Hospitals?
  • Anesthesia machine.
  • Aspiration/Suction Pump.
  • Autoclave / Sterilizer.
  • Blood Chemistry analyzer.
  • C-Arm system – unit, monitor, table.
  • Cast Saw.
  • Centrifuge
  • Coagulation analyzer.
  1. What Are The Basic Medical Supplies?
  • Adhesive tape.
  • Elastic wrap bandages.
  • Bandage strips and “butterfly” bandages in assorted sizes.
  • Super glue.
  • Rubber tourniquet or 16 French catheter.
  • Nonstick sterile bandages and roller gauze in assorted sizes.
  • Eye shield or pad.
  • Large triangular bandage (may be used as a sling)
  1. What Are The Examples Of Medical Equipment?
  • Manual wheelchairs or electric wheelchairs.
  • Hospital beds.
  • Walkers, crutches, canes (or any similar type of mobility assistive equipment)
  • Traction equipment.
  • Pressure mattresses.
  • Insulin pumps.
  • Breast pumps.
  • Nebulizers
  1. What Degree Do You Need To Sell Medical Equipment?

To start your career as a medical device sales representative, you need a high school diploma or equivalent. Though most jobs only require a bachelor’s degree in business or health sciences, an MBA may make you an attractive candidate for medical device and pharmaceutical sales rep jobs.

  1. How Are Medical Devices Sold To Hospitals?

Most hospitals have a committee that evaluates, selects, and purchases medical devices for the organization. Having a clear idea of the people and process involved before you actually start to market or sell your product will help you choose the right sales channel.

  1. Who Makes Purchasing Decisions For Hospitals?

Google’s 2013 Hospital Decision Makers Study found that physicians are the key influencers on hospital purchasing decisions.

  1. What Are Better Ways For Hospitals To Buy Medical Equipment?

The better ways for hospitals to purchase medical equipment is through a group purchasing organization or negotiate directly with distributors or wholesalers, all of whom are doing a larger share of their business online.

  1. How Much Money Can You Make Selling Medical Equipment?

According to Med Reps’ recent salary survey, the median total compensation for a medical sales rep is $149,544, with an average base salary of $92,698 and an average bonus of $63,318 in 2018.

  1. Can You Sell Medical Equipment Online?

Yes, and as a matter of fact, there are several online sites that allow you to sell used goods for a small fee, such as ebay.com, or craigslist.com, as well as sites that specialize in selling and buying used medical equipment for a small fee, such as medibid.com, usedhm.com, disabledgear.com or dremed.com.

  1. How Do Start a Medical Equipment Sale Business?
  • Conduct your feasibility studies
  • Learn Everything you need to learn about medical equipment and online business
  • Choose a name and register the business
  • Draft a detailed Business Plan
  • Secure the needed licenses and permits
  • Apply for an EIN (Employer Identification Number) / Federal Tax ID Number.
  • Open a corporate bank account
  • Create a user-friendly eCommerce website (online store)
  • Lease your warehouse
  • Source for supplies to stock your warehouse with different medical equipment
  • Hire employees
  • Market and promote your medical equipment business
  1. Where Can You Learn The Art Of Selling Medical Devices?

You can learn the art of selling medical devices on the job, you pick up a job with a medical device sales company, and then learn on the job. This is because there is no conventional school where you will be taught how to sell medical devices except you enroll in a regular sales training class.

  1. Is It Hard To Get Into Medical Device Sales?

Medical device sales is a highly competitive and demanding field, but it is also very rewarding, so it’s no surprise that many people want to get into this industry and begin their career path.

  1. Who Can You Donate A Used Hospital Bed To?

You can donate a hospital bed to Med-Eq, the American Medical Resources Foundation, or Project C.U.R.E in the US. In the UK, Hospices of Hope and Jacob’s Well Appeal are two reputable organizations. All of the companies supply medical equipment to underserved communities around the world.

  1. What Instruments Do Doctors Use?

There are loads of instruments that doctors use but some of the basic ones are;

  • Stethoscope to hear sounds from movements within the body like heart beats, intestinal movement, breath sounds, etc.
  • Suction device to suck up blood or secretions
  • Thermometer to record body temperature
  • Tongue depressor used in an oral examination
  1. What Tools Or Equipment Do Surgeons Use?

Mechanical cutters (scalpels, lancets, trocars, Harmonic scalpel, rongeurs etc.) Dilators and specula, for access to narrow passages or incisions. Suction tips and tubes, for removal of bodily fluids. Sealing devices, such as surgical staplers.

  1. How Much Does A Hospital Spend On Supplies?

According to Definitive Healthcare data, U.S. hospitals reported a combined $36 billion in medical and surgical supply costs in 2018—averaging $11.9 million per hospital.

  1. What Do Hospitals Spend The Most Money On?

The greatest expense of hospitals in the United States is paying wages and benefits. Wages and benefits account for around 56 percent of all hospital expenses.

  1. What Is The Biggest Medical Supply Company?

Medtronic and Johnson & Johnson remain the world’s largest medical device companies.

  1. What Do Hospitals Do With Old Medical Equipment?

A hospital may consider donating medical equipment directly to a low- or middle-income country hospital or to a specialized nongovernmental organization, usually as an exchange, which will be responsible for preparing the equipment for re-use and assigning it to a health facility that needs it.

  1. Is Medical Sales A Good Career?

Yes, medical sale is a good career. This is because medical sales is a thriving and exciting industry. And owing to continual progress in medical technology and increased demand for healthcare products, there is great job security in the field.

  1. What Are The 5 Ps Of Healthcare Marketing?

The 5 Ps of marketing are Physicians, Patients, Payers, Public, and The Presence of Politics.

  1. Where Can You Sell Unused Ostomy Supplies?

Surplus stoma supplies can be sent to Jacob’s Well Appeal. Jacob’s Well Appeal distributes stoma supplies to poorer countries where patients have to pay for their supplies and the price of the items is often beyond most people’s wages.

  1. Who Is The Biggest Supplier Of Medical Supplies?
  • Medtronic plc
  • Johnson & Johnson
  • Abbott Laboratories
  • General Electric Company
  • Fresenius Medical Care AG & Co. KGaA
31. What is a Class III Medical Device?

Class III medical devices are those devices that have a high risk to the patient and/or user. These devices usually sustain or support life, are implanted, or present a potential unreasonable risk of illness or injury. Examples of Class III devices include implantable pacemakers and breast implants.

  1. What Are Three Commonly Used Medical Equipment?
  • Patient monitor.
  • Defibrillators
  • Ventilator
  1. What Is The Best Medical Sales Company To Work For?
  • Medtronic is frequently listed as one of the best places to work for in medical sales.
  • Stryker
  • Boston Scientific.
  • Medline
  • Genetech
  • Amgen
  1. What Is The Highest Paying Medical Sales Job?

In general, it appears the top earners are Sales Directors and VPs working in biotech. After all, according to the 2016 Medical Sales Salary Report, Sales Director / VP is the highest paid job title (average total $209,082), and biotech is the highest paying product category (average total $165,028).

  1. What Is The Best Medical Device To Sell?

Here are some of the best medical devices to sell;

  • Thermo Fisher Scientific.
  • Philips Healthcare.
  • General Electric Healthcare.
  • Fresenius Medical Care.
  • Abbott Laboratories.
  • Becton Dickinson.
  • Cardinal Health.
  • Siemens Healthineers.
Joy Nwokoro