Medical device manufacturers face a series of checkpoints when bringing a new therapy to market. From prototyping to clinical testing to marketing messaging, it is vital that these companies have the insights they need to find physician influencers and treatment-ready patients.
To give you insight into common tasks executed by your peers and competitors, we’ve curated a list of the most common searches from Definitive Healthcare users at medical device firms.
1. Diagnoses and procedures for hospitals, physicians, and ASCs
How can suppliers develop an impactful device without identifying market demand? Definitive’s medical device clients frequently leverage Medicare and all-payer claims data to pinpoint the highest-volume diagnoses and procedures across all provider types—including outpatient surgery centers.
Sales teams can segment their target markets by identifying which hospitals and surgery centers perform the highest surgical procedure volumes related to their device. These teams can also find which physicians are performing such procedures, indicating they may be a good fit for clinical trials and sales conversations.
2. Executive contacts
After medical device companies have segmented their markets and reached out to a physician influencer, it’s time to start a conversation with the decision-makers. Definitive Healthcare users have access to the names, titles, emails, and phone numbers of more than 30,000 hospital and healthcare facility executives.
Once they find a high-volume physician that matches their needs, it’s easier to pinpoint the directors and executives at the facility and IDN level. From the Definitive Healthcare platform, clients can even access LinkedIn profiles to research a target’s professional connections and arrange for a warm introduction.
3. Referral patterns
Hospital and physician referral patterns can inform a wide range of sales and marketing initiatives. For medical device companies, we hear two use cases more than any others: medical education and clinician influencers.
If a sales team already has a working relationship with a physician or care facility, it may be worthwhile to analyze their networks and referrals to identify additional business opportunities. Clients often find that a hospital they already work with may be diagnosing and referring high numbers of patients to a specialist at another care center for treatment. This could be their chance to demonstrate what a successful partnership with an existing client looks like and improve the chances of a successful sale.
Existing clients may also be willing to either educate their networks on the benefits of the device or have someone from their network come in and educate their sales team on the intricacies of a procedure or treatment relevant to that device. Both are valuable to ensure devices and approaches are updated and applicable to a client's ideal targets.
4. Insurance coverage breakdown by code
Medical device companies can understand how procedures are being reimbursed before ever even talking to physicians. When creating a report of hospital procedure volumes, Definitive users can analyze payor mix by code—including ICD-10, HCPCS, CPT, and DRG.
These insights allow sales leaders and field reps to map out specific strategies and craft value propositions for each payer, GPO, and IDN.
5. Lab work outsourcing
Similarly to insurance coverage data, information on lab work outsourcing can improve a sales rep’s understanding of a prospect’s pain points. Demonstrating prior knowledge of the challenges clients or prospects face shows a point of contact that Definitive's medical device clients have taken the time to customize a solution just for them.
Understanding where prospects are outsourcing lab work can also give a sales team insights into payer reimbursements and the time that it takes to deliver test results to patients. This would be particularly useful for a medical device manufacturer with a product that can reduce testing turnaround times but can be broadly applicable.
6. Imaging equipment implementation year
Imaging equipment and other durable medical equipment (DME) are vital to daily and emergency operations at care facilities. For medical device suppliers, it is important to know where a facility might be lacking in capabilities, as well as which devices are interoperable with equipment in current use.
Through distinct hospital and facility profiles, Definitive users can identify the number of medical imaging installations from 2008-present, the date of the most recent installation, and the use for that equipment. Also included in the profile is a components summary, which indicates the number and date of installations for elements such as high voltage generators, image receptors, fluoroscopic devices, and others.
Are you looking for more information on how your medical device company can leverage these key insights? Contact us today to start your free trial, and access intelligence and analytics such as:
Financial, clinical, and quality metrics for care facilities
Referral patterns, affiliations and networks
Trended medical claims from CMS and private payers