Amplify Your Sales Team's Effectiveness in Managed Markets

Managed care is the process of delivering health services based on agreements made between an insurance company and a network of healthcare providers. Under this agreement, insured patients receive care at a lower cost than they would if they were treated by a provider outside of this network.

This type of care has become extremely popular in the US market, particularly in the context of employer-sponsored plans. As of 2017, more than 70 million Americans rely on this type of coverage for at least some of their healthcare needs.

This high market penetration signals the need for healthcare providers to satisfy the demands of managed care providers in order to receive payment for their services. This has significant implications for how account managers should approach sales proposals when managed care plans are a factor in their clients' decision-making processes.

How Managed Care Changes Sales Dynamics

In addition to a thorough understanding of the pharmaceutical market in general, a specialized approach is required when working with accounts that depend on managed care billing. These accounts have unique concerns that influence their purchasing decisions. If they purchase a drug that is not adopted by many managed care plans, they risk being unable to generate a profit from that purchase.

Which types of drugs are favored by managed care plans? Budget is often a major factor in this decision. Managed care plans emphasize affordability and must stretch a relatively small pool of funds to cover all the drugs and treatments they will offer.

Managed care insurers are also much more likely to be interested in drugs that can be prescribed to a wider patient base. Niche solutions are rarely appealing to this type of payer. On the other hand, drugs that can be used to treat a wide variety of conditions may be more attractive.

Why Managed Care Training Matters

Developing a deeper understanding of what drives this market is critical to successfully pitching products to providers who operate within it. Account managers and pharmaceutical sales representatives must demonstrate that they are familiar with the decision-making process within managed care contexts to gain providers’ trust and match them with profitable solutions.

In recognition of this knowledge gap, healthcare management consulting firms have begun offering specialized training to help account managers adjust their approach to better suit the needs of this segment of the market. For instance, our upcoming Managed Care 101 training course offers an overview of managed care markets and the information needed to make a convincing proposal that will secure new business. Topics covered include:

• Who pays for healthcare products and services in the US market

• How pharmacy benefit management and integrated delivery networks work

• How to use evidence-based criteria and player guidelines to determine appropriate product suggestions

• How to establish a pull-through relationship with clients to promote the use of your products in the context of managed care

Perfect Your Managed Care Sales Tactics

Managed care market dynamics will only become more important in pharmaceutical sales in the coming years. Deepening your sales team's knowledge of managed care now is key to maintaining your competitive advantage.

The Brooks Group offers a full catalog of account management training courses designed to help sales representatives hone their skills, as well as instructional design services for creating custom training content. Contact us today to sign your team members up for our Managed Care 101 training course (currently scheduled for May 30) or any of our other industry-leading courses for account management professionals.

This blog was originally posted in https://thebrooksgrouponline.com/2022/03/amplify-your-sales-teams-effectiveness-in-managed-markets/

Healthcare Branding- 5 Ways to Stand Out

In the past, many healthcare companies were able to survive and even thrive based on the strength of their products and services alone. The market was narrow enough that if a company had an effective treatment available for a particular disease or condition, they were unlikely to have much competition in that niche.

After many years of scientific and medical developments, however, the healthcare industry has grown considerably. Hospitals and other care providers have many options available to meet their patients’ needs. In order to win their business, companies will need to make their solutions stand out above the rest using effective branding. The list below contains five tips to help you get started on this process for your own healthcare organization.

1. Offer Personalized Services

Every customer has unique needs and concerns. Taking the time to understand what your customers are looking for (and why) helps you to present them with options that they are likely to accept, increasing your sales and customer satisfaction at the same time.

Account management skills training can be used to upgrade your staff's skills and allow them to provide exceptional service to your customers. Likewise, market research or patient advocacy research reports can give your staff information on trends to help anticipate customers' needs and offer appropriate products and services before they even think to ask for them.

2. Set Your Organization Apart 

Highlighting the things that make your organization unique is a great way to build your brand. What does your organization have to offer that none of your competitors do? Do you have advantageous partnerships with other organizations, unique industry insights, or exceptionally attentive staff members?

Whatever high points you settle on, be sure to highlight these things in your promotional materials. Let your prospective customers know why they should choose your company to help them serve their patients.

3. Focus on Your Strengths and Improve Your Weaknesses

Every pharmaceutical organization has its strengths and weaknesses. For instance, your company might be excellent at bringing cutting-edge products to customers but struggle with pairing those newer items with older mainstays that would provide customers with a more well-rounded package of solutions.

Emphasizing the things you do best (such as innovative treatments or a patient-centric, personalized approach, for example) will ensure that your brand develops a strong positive reputation and a unique identity. It will also give you the opportunity to quietly work on the aspects of your organization that need further development until you are just as proud of them as you are of its strong points.

4. Maintain a Strong Brand Presence Across All Channels

Healthcare organizations have access to many advertising channels that they can use to reaffirm their brand. In addition to traditional channels like billboards and television ads, organizations can multiply their branding efforts by investing in online channels like social media.

Each healthcare company should have a solid marketing strategy that spans as many channels as is feasible with their resources and budget. Digital marketing through platforms like Facebook and YouTube is relatively affordable and makes a big difference in your company’s visibility.

5. Embrace Branding as a New Necessity

Whether you are eager to see what good branding can do or are reluctant to try it out, it is important to recognize its indispensability in modern contexts.

With so much competition to contend with, companies that do not invest time and resources into their brand will never be able to reach the same level of prominence as those that do. Working out your branding strategy now will help you capture more market share during this critical transition period.

Build Your Brand with Help from The Brooks Group 

Don’t wait to begin working toward a distinct brand for your healthcare organization – the sooner you act, the more effective your strategy will be.

The Brooks Group is a leading healthcare consulting company offering employee onboarding training, instructional design services, market research, and much more. Our assistance can help you devise and implement a branding strategy that will make your healthcare organization undeniably unique. Contact us to learn more about our services, their impact, and the next steps you can take to building a stronger corporate identity.

This blog was originally posted on https://thebrooksgrouponline.com/2021/12/healthcare-branding-5-ways-to-stand-out/

Employee Onboarding - Best Practices

Your company’s employee onboarding process is much more than a courtesy for incoming hires – it is their first taste of what life is like as a part of your workforce. It is also often a key factor in employee turnover. Each employee’s first few weeks should be spent learning how your organization works, what is expected of them, and where they can turn for assistance, inspiration, or support.

Our three-stage overview of onboarding best practices will help you fine-tune this critical process within your company, ensuring that you can attract, retain, and develop the talented employees your company relies on.  

Stage 1: Setting Up for Success 

Some of the most important parts of the onboarding process should be completed well in advance of a new worker’s start date. For instance, your new employee should have all the equipment they need ready and waiting for them when they walk in. Depending on their role, this might include: 

• A desk and/or office. 

• Computer hardware, necessary peripherals, and a company phone. 

• A company car. 

• All necessary logins and access keys. 

• Any special tools they will need. 

Many roles that deal with sensitive information, such as analysts and researchers in biotech market research companies, also require some form of security clearance.

All paperwork should be completed and signed before your new employee's first day on the job. When they arrive, check that everything is in order. You should have completed versions of: 

• Their employment contract. 

• Their payroll forms, including tax and banking documents. 

• Their work visa (if applicable). 

• Any company policies that require a signature. 

• Any background or credit checks needed for their role. 

Stage 2: Breaking the Ice 

Once the new employee is on-site, it is time to begin integrating them into the team. Consider assigning your new worker a buddy from among their peers. This person will be responsible for showing them around the office, introducing them to their coworkers, and generally helping them get used to their new role. Choosing someone of a similar rank for this task gives your new employee the chance to form social bonds within the group of people with whom they will be working most closely.  

However, some aspects of this process can only be handled by someone with workplace authority. Designate a specific higher-up to oversee the employee’s transition and answer any technical and role-based questions they may have. Interpersonal interactions like these are not every leader’s strong suit, especially in scientific and technical industries. Healthcare executive leadership training can teach these high-ranking staff members the skills they need to confidently handle these managerial duties and make every member of the team feel welcome and valued.  

Once the appropriate introductions have been made, you can slowly start to assign tasks to the new employee – perhaps under the guidance of a more experienced mentor. You can use this initial period to familiarize them with your company culture, gauge their competence, identify their weak spots, and begin planning their professional development within your company. 

Stage 3: Charting the Future 

Employees perform better and are less likely to leave a position when they know that structured growth opportunities are available to them. After the first few weeks, set aside some time to let your new employee know what career development initiatives you have available to workers in your organization.  

If you don’t already offer additional training for your workforce, consider doing so going forward. Basic managed care training courses provide an excellent introduction to the managed care market for people entering the healthcare industry. You can offer courses like these to whoever is interested while reserving higher-level material such as strategic account management training for dedicated and promising employees who master the basic courses first.

These programs give employees a way to hone their skills, improve their work in their current role, and demonstrate their readiness for further responsibilities within your company. 

Improve Your Company's Onboarding Experience with The Brooks Group 

A quality onboarding process leads to higher productivity, greater retention, and an overall stronger organization. The Brooks Group has the training programs you need to get your new employees off to a strong start. With our help, your company can implement a custom onboarding training program that will teach new hires everything they need to know about your company’s policies, culture, standard workflows, and more with a limited need for in-person instruction. Our instructional design services take your training programs to the next level, ensuring greater engagement and knowledge retention on the behalf of the trainees.

This blog was originally posted on https://thebrooksgrouponline.com/2021/08/employee-onboarding-best-practices/

Refresher Training Enhances Retention by 35%. Do you need one?

 

Workers in the healthcare and pharmaceutical industry are required to possess extensive specialized knowledge, and compliance is paramount in every role. Healthcare executives and account managers are expected to cultivate a deep understanding of their company's products, their customers' pain points, new shifts in the healthcare market, and much more.

With so much to remember, it is no surprise that some of the specifics, especially new information that is not attached to years of experience begins to fizzle out after the training courses. Healthcare consulting companies often recommend refresher training to help with knowledge retention. Providing refresher training to your staff may boost retention rates by up to 35%.  

What is Refresher Training?

Rather than teaching new skills and concepts, refresher training is used to review information the learner has already been through. It may also be used to update learners on new developments in topics they have already covered or to clarify certain company-specific concepts during an employee onboarding training program.

Benefits of Refresher Training

Aside from increased retention, some of the improvements you can expect to see following a round of refresher training include:

•    Increased efficiency.
•    Higher compliance.
•    More confident employees.
•    Better awareness of new products and industry trends.
•    An improved ability to identify gaps in skills and knowledge among the team.

When is Refresher Training in Order?

The following five situations are some of the most common instances in which your organization may benefit from refresher training.

1. When Repeated Mistakes are Being Made

Everyone makes the occasional mistake, but when the same mistakes surface over and over again, there may be some confusion over what is expected for certain tasks. Refresher training helps to clarify these expectations, ensure that standard procedures are being followed, and create a consistent experience for your customers.

2. When New Information Must Be Disseminated

The world of pharmaceuticals and biotech is fast-paced and unforgiving. Healthcare executive training teaches the information that is relevant at the moment, but what is cutting-edge today may become obsolete tomorrow. Without regular refresher training, employees may struggle to keep up with changes in internal policy or new developments in the field.

3. When Tech is Being Underutilized

Technology is becoming an increasingly prominent part of the healthcare industry, even for executives. If your company has implemented new tools (such as a new CRM system or an appointment scheduling tool) that are not being fully leveraged, refresher training that reminds employees how to use these solutions may help to boost their adoption rate.

4. When Productivity is Declining  

When employees are unsure of how to properly do their jobs, their performance often begins to slip. If you've noticed declining revenue, lower customer retention rates, or rising turnover among your employees, some refresher training may be able to correct the problem.

5. Customer Relationships Are Suffering

Maintaining strong links with current customers is key to the stability of a business. If your customers are expressing dissatisfaction with the way their accounts are being handled, a fresh round of account management training can help to remind your staff of how they can meet those customers' needs.

Refresher training may be delivered in a variety of formats, including in-person and online. Companies can develop customized refresher training courses by using The Brooks Group's instructional design services to translate their content into lessons, quizzes, and other educational resources.

Building Employee Confidence for Future Success

Your organization cannot thrive without confident staff who are sure of their abilities and their role. Solidifying key concepts with refresher training is an investment in both the satisfaction of your current customers and your organization’s future. Contact The Brooks Group today to build refresher training programs for your company.

This blog was originally posted on https://thebrooksgrouponline.com/2021/06/refresher-training-enhances-retention-by-35-do-you-need-one/

Common Market Research Methodologies in Healthcare

Although healthcare is a unique entity in the consumer market, it relies on market research as much as any other industry. Market research helps connect caregivers to patients and provides crucial insights into each patient’s needs. There are several ways to go about this research, each with its own advantages.

The Most Common Healthcare Research Methodologies

Researchers employ several market research methodologies, depending on their goals and available participant pool.

Quantitative Surveys

Quantitative surveys are a simple way to connect with large numbers of participants. Users are asked to fill out information surveys about their preferences and experiences, generally intended to capture the ‘voice’ of the customer and gain broad insights into issues.

Focus Groups

Conducted in-person or online, this methodology brings small groups of participants together to answer questions in a moderator-led discussion. These responses tend to be more in-depth than survey answers and provide important contextual information on specific user segments.

Online Bulletin Boards

Bulletin board research allows participants to log into a web portal and answer questions in a public forum, usually conducted over a several day period. This strategy is flexible in nature, ideal for reaching participants who can’t attend in-person meetings due to physical restrictions or scheduling conflicts.

Ethnographic Research

Ethnographic studies leverage observational research alongside direct interviews to learn more about how participants use products, services, or technologies. Researchers monitor activities and combine their insights with user-provided data to formulate insights into trends and patterns.

One-on-One Interviews

Ideal for high-value participants who may not participate in group sessions (such as surgeons, C-level executives, or other time-restrained professionals), one-on-one interviews provide the most in-depth information of any methodology. They allow interviewers to probe deeper on issues while protecting each participant’s privacy in a confidential setting.

Data Reviews and Content Analyses

The above methodologies describe different ways to collect user data, but the collection is only the first step. Researchers must be able to review data and determine how to derive meaningful insights from the content.

Brooks Group’s approach to analyzing qualitative data differentiates us in the research market. We apply content analysis techniques and procedures that compress long-form data (as might be taken from a one-on-one interview or detailed survey) and break it up into smaller message categories. By doing so, we’re able to sift through large volumes of interview data quickly and efficiently.

In our experience, this is the best way to understand nuances among user responses, identify trends, and gain an empirical basis for monitoring changes over time.

Tools to Support Your Healthcare Research

The Brooks Group offers three products to help facilitate healthcare market research:

1. Voice of the Customer – Customer-driven feedback process that evaluates account managers on custom metrics relative to their competitors.

2. Equity Scan – Assessment tool designed to benchmark attributes and capabilities in key customer segments.

3. Level III Analysis – Detailed assessment process consisting of account manager skill assessments, gap analyses, and long-term strategies for skill development.

The Brooks Group is a leader in providing training, market research, consulting, and instructional design services to healthcare organizations. Visit our site to learn more about the value of implementing a structured methodology to your healthcare enterprise.

This blog was originally posted on https://thebrooksgrouponline.com/2021/01/common-market-research-methodologies-in-healthcare/