The Definitive Healthcare impact on selling technology to physician groups
This is a case study based on the real-world success of several Definitive Healthcare customers. It provides a composite illustration of the value they realize by integrating our products.
A technology company has an innovative clinical collaboration solution that improves the patient experience and increases healthcare professional productivity. Having already established strong penetration within hospitals and health systems, they planned to launch a new solution aimed at supporting physician groups. Leveraging multiple Definitive Healthcare products, the company developed and executed their sales strategy, which included:
- Identifying key physician groups;
- Leveraging existing client relationships
- Identifying the buyer decision-makers and tailoring sales messaging to each account’s needs.
As a result, they achieved increased revenue and improved margin.
Plan and execute sales strategy with limited access to market insight
A technology company makes an innovative clinical collaboration solution that plugs into a specific EMR. The technology tracks patients across provider encounters and improves healthcare provider communication within and across care sites. The company planned to expand their market to physician groups and needed to establish a customized sales strategy.
To generate the necessary insights, the team needed a comprehensive understanding of the physician group market. Initially, they invested time researching public sources, but this manual strategy proved, slow, cumbersome, and inaccurate. They attempted to use the existing data to map territories, allocate resources, and prioritize outreach, but without fast and easy access to complete and current data, the team had limited ability to:
- Identify and prioritize physician group targets: To effectively segment and plan territories, the sales leaders needed to determine their target physician groups market based on attributes such as size, technology implementations, practice locations, and financial health.
- Gather leads with existing affiliations: The team needed a fast and easy way to understand the networks of their existing customers and identify their physician group affiliations to get their foot in the door.
- Relay their value: The sales reps needed to understand the physician groups and buyer decision-maker’s priorities, then tailor their messaging accordingly.
As the team dealt with these limitations, they looked to a trusted data source to solidify their strategic and tactical sales decisions.
Unlock insights into physician groups to power a more intelligent sales strategy
The company had previously achieved success in launching their flagship product for hospitals using Definitive Healthcare’s Hospitals product, so the team was familiar with features like Tech-nology Search, DHC Visuals on Vendor Market Share, and hospital/IDN profiles to target hospitals and networks.
To launch their new solution for physician groups, the team integrated Definitive Healthcare’s Physician Groups database with their existing Hospitals product. With the products combined into a single powerful platform, the team gained a comprehensive viewpoint across the care continuum.
- Prioritize the right physician groups: To segment their target market, the team leveraged technology data tied to their physician group searches. They captured medium-to-large physician groups utilizing the EMR technology compatible with their solution. Then, they complemented that intel with chief information officer contact information, network affiliations, and number of physicians.
- Leverage their existing relationships with hospitals: From the Hospitals product, the team used affiliation data from their current hospital clients to identify the affiliated physician groups. Then, the sales teams reached out to their hospital clients asking for an introduction to the physician group.
- Create tailored messaging for physician group decision-makers: With Definitive Healthcare’s detailed physician group profiles containing information on executives, technologies, affiliated physicians, and practice locations, they were able to capture intelligence that enabled conversations reflecting a deep understanding of their challenges.
Increased revenue and improved margin
Armed with robust physician group and hospital organization intelligence, the team developed and executed an informed sales strategy that featured:
- Better quality lead pipeline: Using physician group market-level searches and leveraging affiliations data, sales teams optimally segmented territories and prioritized accounts with higher likelihood to purchase, resulting in a strong prospect pipeline.
- Accelerated sales: Using physician group intelligence like technology implementations and executive contact information, the team identified key decision-makers and effectively tailored messaging, leading to better lead conversion and shorter sales cycles.
- Improved sales productivity: Sales leadership, account executives, and sales reps had access to market- and account-level intelligence in one location, which saved them time and energy that was previously spent researching and consolidating data from disparate, public sources. More time led to more wins overall, helping the organization to increase revenue and improve margin.