Afraid to sell that higher-priced product? You may be selling your customers short
By Elizabeth Hilla
As the healthcare industry undergoes unprecedented change, providers are adapting their operations to align more closely with the triple aim: improving quality, improving patient satisfaction, and reducing costs. Looking at that third component, your customers may think the best way to spend less is by purchasing lower-priced products. However, cutting corners on quality to save pennies may not achieve the results they seek. Here are several tips for selling higherend products that can not only accomplish all three triple aim objectives, but also benefit you, your customers, and their patients:
Let quality products speak for themselves
There’s a reason why consumers choose a Volvo over a Kia. Higher-priced products often cost more because they are just plain better – higher-quality materials, longer-lasting construction, etc. – which can help these items sell themselves during sales pitches. Providers need products that are proven to be more reliable and effective, improving the quality of care administered to patients and reducing the need for followup visits. Also, these products tend to be name brand items, which come from trusted suppliers who have proven track records and can guarantee product satisfaction or offer additional support if needed.
Justify how long-term solutions outweigh short-term savings
Some customers may already have pre-conceived cost savings goals in mind before you step foot in their buildings – for example, reducing medical supply costs by 15 percent. It’s your job to make them realize that getting a better price by sacrificing product quality can have lasting negative impacts on and off the balance sheet. The key to successfully selling high-quality products is acknowledging your customers’ cost concerns, encouraging them to consider the costs of not solving long-term problems, then backing up your product pitch with related outcomes data. A small increase in readmissions, infections, or even medical malpractice claims due to lower-quality products can quickly negate any gains your customer may think they’ve achieved with a lower upfront spend.
Explain that it’s about more than low prices
High-quality medical products can play an important role in addressing the most frequently cited priorities facing providers – lower staffing costs, increased revenue, better care quality – if positioned the correct way. Explaining how higher-quality products can reduce instances of repeat procedures due to inconclusive results or reduce the amount of time staff spend waiting for diagnostic test results can do more to help your customers than getting them a lower price. If you can justify the ways a specific product can improve the overall health of a practice or facility, or the quality of work-life balance for a doctor or nurse, your customers will be more willing to understand why paying for these items often is the smarter choice. In almost any sales transaction, it can be difficult to rationalize why spending more for something is a sound decision. In today’s healthcare environment, however, cutting corners on cost is no longer an acceptable practice as providers get held to higher standards of care. Give your customers a legitimate explanation – sometimes more than one – to help them understand why paying more for higher quality products will often result in better overall outcomes for their organization.