A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. However, a recent article from the Harvard Business Review suggests the stagnant methods of pharmaceutical sales rep compensation may be the root cause of an even bigger public health issue.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. However, a recent article from the Harvard Business Review suggests the stagnant methods of pharmaceutical sales rep compensation may be the root cause of an even bigger public health issue. Just like any common pharmaceutical sales compensation plan, sales forces are compensated for educating their territory of physicians and gaining market share through filled and re-filled prescriptions.

Pharma sales – it’s a different world

Sales Training Connection

On the other side of the table with fewer sales reps seeing physicians face-to-face, physicians have come to accept the new normal – fewer free office lunches, reduction in paid speaker programs, and cuts in dollars paid for pharmaceutical and marketing research. Pharma sales.

5th issue impacting medical sales in 2013 – customer satisfaction

Sales Training Connection

will be based in part on patient satisfaction – determined by a 27-question government survey administered to patients. In our last blog we posted 4 hospital-physician issues impacting medical sales in 2013: Hospital consolidation continues. Hospital-physician alignment grows.

Hospital sales – business-as-usual will be business lost to competitors

Sales Training Connection

Hospitals say they are promoting needed services, such as cancer screenings and cholesterol tests, but they often use the data to target patients with private health insurance, which typically pay higher rates than government coverage.”.

Would You Like to be Selling Guns Right Now?

Understanding the Sales Force

Pharmaceutical companies lobby to fast track drug approvals that allow doctors to prescribe poisonous treatments that we inhale like candy and become even sicker.

Email Open Rates By Industry: See How You Stack Up

Hubspot Sales

Arts & Entertainment, Construction, Human Resources, Legal & Government, and Real Estate have the highest open rates. Legal and Government: 44%. What is the average email open rate for legal and government companies?

New Directions for Medical Device Sales Reps: Carpets vs. Clinics (Part 1)

Corporate Visions

Both government and private insurers are moving away from fee-for-service models. Moody’s also predicted that “margins will come under more pressure in the coming years as providers spend more on salaries, pensions, and pharmaceuticals.”

Tips for Voicing Your Values When You’re Asked to Bend Morals

Pipeliner

We need your developers to modify the quality algorithm so the defect rate we report to the government appears lower.”. Theranos, Wells Fargo, VW, Takada, and Purdue Pharmaceutical became notorious because their business strategies became deeply infected with nefarious intent. It wasn’t onerous government regulation or economic chaos. I’d like to encircle the workplace with ribbons of yellow safety tape. That would give others an inkling of the dangers lurking within.

Interview: Guided Selling with Storytelling, Insights and Financial Justification

The ROI Guy

For example, no longer can pharmaceutical companies swarm a doctor’s office and influence them to write scripts for your meds. An interview with Dario Priolo, Chief Strategy Officer for Richardson, a leading training and sales effectiveness firm.

Selling Financial Results to Executives

Sales Excellence

Governments and other regulatory bodies all over the world require publicly-traded companies to produce and disclose these financial statements for the benefit of current or prospective shareholders. A large financial services firm might categorize income into interest from loans, insurance premiums, and commissions, while a pharmaceuticals firm lumps all income together and calls it revenue.

Interview Abstract: Why Selling with Value Requires Modern Tools + Modern Training

The ROI Guy

More and more, docs need to affiliate with larger hospitals and heath care organizations, and must play by the rules set by corporate – maybe a chief medical or pharmaceutical officer – who must play by the rules set by the insurance companies and governments.

Although it’s not time to Party Like its 1999, There is Plenty to Celebrate

The ROI Guy

Industries with the best increases in IT staff efficiency include Financial Services and Banks, Food and Beverages, Healthcare, Insurance, Professional Services, Real Estate, Wholesale, Government and Education. IT spending has experienced a healthy three years of budget increases since the beginning of 2004, giving many IT execs plenty of reasons to celebrate.