How Major Changes in the U.S. Healthcare System Are Impacting MedTech Companies with Monish Rajpal

How Major Changes in the U.S. Healthcare System Are Impacting MedTech Companies  with Monish Rajpal

as we all know there is a pretty
dramatic change happening in the US healthcare market and it’s driven not
just by health care reform and lately potential changes to do the original
reform itself but also by the broader fundamentals of health care itself where
for a long time we’ve been using an increasing amount of resources in our
system and it’s not clear that the outcomes have really kept kept pace so
there is a pretty major shift and underway and it’s rippling its way all
the way through government payers to commercial payers through provider
systems and impacting how our medtech clients need to go to market going
forward so more and more what we’re getting requested to do by our clients
is to really help them understand how providers are changing their behavior
how they’re changing the way they purchase how they’re changing the way
they want to engage with med tech companies and what that means
for former tech companies in terms of going to market there is a spectrum of
these behaviors but it is important to take those behaviors and really cluster
them into four or five six digestible archetypes of behavior which is what we
call a customer segmentation and we’re getting a lot of focus on that issue
segmentation is an important issue but it’s not the only thing that med tech
companies have to address as they think about engaging with customers in this
changing environment it is one of the first things you have to do but in
addition to doing that it becomes really important to think about okay well how
am I going to change my coverage and deployment model and vary that no one
said across these different segments and right-size them to the needs and
behaviors and engagement preferences of each of these segments so there there’s
a lot of attention on how do we change coverage models how do we change
deployment models so we get a lot of questions around service solutions and
how do we partner more deeply with with our hospital system clients in which
areas around what needs and by the way which of those segments are really
interested in because the whole point of segmentation
is that they all behave a little bit differently and so you need to target
these types of advances to specific segments so service solutions and how
those apply the segmentation is a question that we get very regularly and
then I’d say the final category of questions that we get is how should I
evolve my offerings and pricing model by segment the market is transforming and
it’s transforming in ways that you can you can characterize into these clusters
and that provides not only an imperative for med tech companies to understand it to
characterize it and to change their behavior and new onset by segments but
it’s really an opportunity because hospital systems are looking for more
from their med tech partners than they ever did before and segmentation is what
allows you to understand where to target that you

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