HBS report released

Healthcare consultancy HBS Consulting has released Customer Relationship Strategies in the Medical Device Industry — The Role of CRM and Knowledge Management, a new strategy review regarding that niche industry. Study authors conclude that poor information and cumbersome processes seriously hamper the sales and service operations of medical device companies.

The report illustrates implementing systems and strategies in order to give them a clear competitive advantage. Painting a background of European purchasing dynamics changing dramatically. Pricing and protocols, say the study authors, are rapidly becoming increasingly more important in purchasing than clinical efficacy. In summary, the report defines the new environment thusly: “Clinicians no longer keep the keys to the coffers. The new gatekeepers are administrators and committees that manage purchasing agreements and heed the organizational needs of national healthcare systems.”

The report singles out Siemens for its purchasing trend detection. Powerful analytics of the Siemens sort can only become a reality, says the report, when data is warehoused in a central repository. But competitive advantage, write HBS consultants, is not just a matter of software and systems, but instead taking full advantage of those CRM and knowledge management systems. The report also places emphasis on methods of identifying the barriers within the enterprise which prevent the adoption of appropriate strategies.

The conclusion? The bottom line is the ability to deliver an improved customer experience, to accelerate innovation, to predict the course of change, to drive down costs and to increase revenue.