Suppliers

Suppliers of medical products, technology, and services play vital roles in the value of health care delivery and innovation in health care practice. By increasing patient success rates and concentrating on long-term patient outcomes and costs, they will benefit from healthy and sustainable competition. Several leading suppliers are refocusing their efforts to achieve value when they introduce new products and drugs. The move to paying for value will mean that the pricing methods used in the past are not sustainable and supplies must carefully examine the outcomes relative to cost for every new drug and device introduced.

Key Action Steps for Suppliers

Base strategies on creating unique value for patients
Focus on cycles of care rather than narrow product usage
Sell not just products, but provider and patient support
Use evidence of long-term clinical outcomes and cost to demonstrate value compared to alternative therapies
Conduct new types of long-term comparative studies in collaboration with providers and patients
Increase the success rate instead of maximizing usage
Target marketing and sales to minimize unnecessary or ineffective therapies
Help providers to utilize products better and minimize errors
Concentrate marketing efforts on value, not volume and discounts
Support provider efforts to measure and improve results at the medical condition level

Institute For Strategy & Competitiveness

Suppliers

Key Action Steps for Suppliers