By Mark Thill
Repertoire asks medical sales reps how they feel about the industry heading into 2017
Medical sales reps who responded to a recent Repertoire survey remain positive about the profession that some entered 40 or more years ago. Despite long hours and many challenges, 87 percent said they would choose a career in medical sales all over again if they had the chance. The survey, conducted in November 2016, was the third annual survey conducted by Repertoire.
Of the 77 reps who responded, 43 percent were between the ages of 31 and 50, and 52 percent were 51 or older. Just 5 percent were between 21 and 30 years old. Seventy-one percent were men, 29 percent women. Twenty-two percent have been in the field 10 years or less; 26 percent have been in the field between 11 and 20 years; 24 percent between 21 and 30; 22 percent between 31 and 40; and 5 percent more than 40 years
Following are some key points from the survey. (Percentages might not add up to 100, as they are rounded up or down.)
Hours per week spent in the field
- 0 to 20 hours: 16 percent (compared with 13 percent a year ago)
- 21 to 30 hours: 35 percent (compared with15 percent last year)
- 31 to 40 hours: 33 percent (38 percent last year)
- 41 to 50 hours: 11 percent (23 percent last year)
- 51 to 60 hours: 4 percent (11 percent a year ago)
Average number of hours spent on administrative work
As was the case last year, the biggest percentage of respondents – 26 percent – spend 16 to 20 hours per week on administrative duties. (Last year, 42 percent did so.) Here’s the breakdown:
- 0 to 10 hours: 28 percent
- 11 to 15 hours: 22 percent
- 16 to 20 hours: 26 percent
- 21 to 25 hours: 12 percent
- 26 to 30 hours: 3 percent
- More than 30 hours: 9 percent
Morale
Reps were asked to describe their morale and feelings about the current state of medical products sales. Here’s a breakdown of their responses.
- Very positive: 17 percent (19 percent a year ago).
- Somewhat positive: 58 percent (compared with 55 percent in 2015 and 2014).
- Somewhat negative: 19 percent (21 percent last year).
- Very negative: 5 percent (4 percent last year).
Would you do it again?
Reps were asked, “If you had your career to do over, would you choose to be a medical sales rep?”
- “Yes, medical sales is still rewarding”: 87 percent (91 percent last year).
- “No, the negatives outweigh the positives”: 13 percent (9 percent a year ago).
What’s to like?
Financial rewards and customer relationships are the factors that many reps find most satisfying about their work. When asked to name their top two factors, they responded:
- Financial rewards: 58 percent (70 percent last year).
- Customer relationships: 55 percent (same as last year).
- Freedom: 58 percent (45 percent a year ago).
- Intellectual stimulation: 14 percent (9 percent last year).
- Interaction with colleagues: 12 percent (17 percent a year ago).
- Other: 3 percent.
Distributor/manufacturer relationships
As they did last year, most reps give high marks to the quality of distributor/manufacturer relationships. When asked how they would grade distributor/manufacturer relationships over the past five years (using school grades, that is, A, B, C, D, F), they responded like this:
- A: 5 percent (17 percent a year ago).
- B: 60 percent (51 percent last year).
- C: 26 percent (30 percent last year).
- D: 9 percent (2 percent last year).
- F: None (same as last year).
Is retirement in the works?
Perhaps it is anxiety about the economy in general, or questions about the future of healthcare reform, but the fact is, a larger percentage of reps are giving a second thought to their retirement plans. Respondents were asked to complete this sentence: “The profession of medical sales is changing in such a way that….”
- I will not change my retirement plans: 49 percent (68 percent a year ago).
- I will accelerate my retirement plans: 27 percent (21 percent last year).
- I will defer my retirement plans: 23 percent (11 percent last year).
Obstacles
Twenty-seven percent of respondents are finding group purchasing contracts to be the single biggest obstacle to providing great customer service. Last year, “not enough hours in the day” topped the list. Here are responses:
- Group purchasing contracts: 27 percent (28 percent last year).
- Providers are too busy to see me: 25 percent (23 percent a year ago).
- Not enough hours in the day: 22 percent (34 percent last year).
- Value analysis/product selection committees: 9 percent (11 percent a year ago).
- Vendor credentialing: 4 percent (same as last year).
How can I get better?
Reps were asked to identify the single most important thing they can do to improve their sales. Like last year, time management was at the top of the list. Their responses:
- Manage my time better: 26 percent (45 percent last year).
- Better use of electronic sales management tools: 23 percent (15 percent last year).
- Educate myself more on industry events, changes and reform: 22 percent (32 percent a year ago).
- Educate myself more on products: 14 percent (6 percent last year).
- Improve my relationship with inside sales/customer service: 5 percent (2 percent last year).
If you had your career to do over, would you choose to be a medical sales rep?
- “Yes, medical sales is still rewarding”: 91 percent.
- “No, the negatives outweigh the positives”: 9 percent.
Name two factors that you find most satisfying about your work:
- Financial rewards: 70 percent.
- Customer relationships: 55 percent.
- Freedom: 45 percent.
- Interaction with colleagues: 17 percent.
- Intellectual stimulation: 9 percent.
- Other: 4 percent.
What is the single most important thing you can do to improve your sales?
- Manage my time better: 45 percent.
- Educate myself more on industry events, changes and reform: 32 percent.
- Better use of electronic sales management tools: 15 percent.
- Educate myself more on products: 6 percent.
- Improve my relationship with inside sales/customer service: 2 percent.