America’s massive healthcare industry consumes 18% of GDP, equivalent to $4.3 trillion a year. Its sheer size makes it a magnet for sellers of all stripes.
But healthcare is also a complex world that’s only getting more complicated to navigate, with a steady stream of new entrants, emerging technologies, and evolving payment models.
To successfully sell into healthcare, you need the right data to understand and reach your target audience. This is where healthcare technology, reference, and affiliation data can help.
Armed with healthcare commercial intelligence, you can get a complete view of your target market, learn how your competitors stack up, and deliver tightly personalized marketing messages. Here’s how.
See how your competitors stack up with technology installation data
Have you ever had a prospect tell you that they’re not interested in your solution because they’re already using a competitor’s?
What if you could know ahead of time if a prospective buyer has an existing vendor relationship or which competing solutions they’ve already invested in?
That’s where healthcare technology installation data comes in. This data can give you an accurate picture of your prospect’s technology landscape, so you can focus your resources on high-conversion opportunities.
This information can include everything from clinical systems and electronic health records (EHRs) to technologies for health information management (HIM), human resources, and more.
By understanding the technology that healthcare organizations are using, how long those products have been in use, and the vendors they’re partnering with, you can differentiate your product from the competition.
Maybe your software is more user-friendly, has more robust reporting capabilities, or integrates better with their EHR than the competitor’s product.
In your outreach, you could address your prospect’s specific needs and pain points and highlight why your software is the better solution. This approach will make your outreach more relevant and can help you close more deals.
Understand your target market with healthcare affiliation data
Do you know which physicians are part of clinically integrated networks (CINs)? Or which ambulatory surgery centers are affiliated with the hospitals you sell to?
Healthcare affiliation data can help you answer these questions and more. As more physicians shift away from private practice, healthcare affiliation data can shine a light on the complex affiliations that increasingly influence care decisions.
At its core, affiliation data explains how different healthcare organizations and providers are connected to each other. It looks at the relationships among providers, hospitals, physician groups, integrated delivery networks (IDNs), accountable care organizations (ACOs), clinically integrated networks (CINs), group purchasing organizations (GPOs), and other networks.
This can include everything from which physicians work at which hospitals to which health systems own specialty pharmacies. With this data, you can quickly identify the key players in any given market, understand how they are related to each other, and uncover new opportunities for growth.
For example, if you’re selling a product, solution, or service that supports value-based care, you can use healthcare affiliations data to identify the providers who are part of an accountable care organization (ACO). You can then target your sales efforts to the key decision-makers at those ACOs.
Personalize your outreach with precise reference data
Once you thoroughly understand your market and competitors, you need to reach out to the right decision-makers. But with the healthcare industry changing so fast, it can be tough to keep up with who’s who.
Again, there have been dynamic shifts in how purchasing decisions are made in healthcare, with new networks like IDNs, ACOs, and CINs emerging. These networks can have a lot of sway over formulary decisions, technology adoption, new device uptake, and more.
With healthcare reference data, you can skip the guesswork and get in touch with the people who matter most.
Healthcare reference data is the firmographic data for hospitals and healthcare delivery facilities, as well as the demographic, contact, and location information for healthcare providers. It can help you find key decision-makers such as CEOs, presidents, department directors, administrators, and others.
After all, it’s easier to hit the bullseye when you know exactly where the target is.
Chart a clear course for the future
In the complex healthcare landscape, success hinges on data and insights to drive your sales and marketing strategy. Our healthcare technology, reference, and affiliation data give you this advantage. Want to learn firsthand how healthcare commercial intelligence can help you uncover new opportunities in healthcare? Sign up for a demo today.