Thriving in the Healthcare Market: Strategies from an Industry-Insider for Selling Your Product, 1st Edition (Paperback) book cover

Thriving in the Healthcare Market

Strategies from an Industry-Insider for Selling Your Product, 1st Edition

By Glenn E. Pearson, FACHE

Productivity Press

308 pages | 10 B/W Illus.

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pub: 2019-09-13
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Description

 

Interesting, engaging and informative with good examples. As Chief Medical Officer of a biotech startup that has to sell into the C-suite, I will be buying copies for our entire sales team.

Bob Lubitz, MD, MPH, FACHE, MACP

Chief Medical Officer, 3Oe Scientific, Inc.

 

At 18% of GDP, healthcare represents a hugely attractive market for suppliers and vendors. Any sector this enormous requires support from dozens of entities: legal services organizations, design and construction companies, pharmaceutical suppliers, utilities companies, information technology vendors, food services suppliers, consulting firms, medical equipment manufacturers, and many others. Although many of the standard business dynamics apply to healthcare, numerous quirks make this field unlike any other. Every company offering products to hospitals, physicians or any other healthcare organization will greatly benefit from understanding the industry’s "psychological climate."

 

Just having a great product or service does not guarantee market success. The seller must know how to position its products and demonstrate genuine value. Industry outsiders selling to healthcare often get sidelined if they don’t know the sector’s unique communication protocols, clinical requirements, financial dynamics, and operating procedures. Even seasoned veterans sometimes stumble over an unexpected speedbump.

 

This book identifies 84 pitfalls vendors often encounter and provides nearly 200 specific, immediate, and actionable recommendations for minimizing them or even avoiding them altogether. Although this advice will help anyone selling to healthcare organizations, it is especially relevant for companies introducing emerging, disruptive, and transformational technologies.

Reviews

"Interesting, engaging and informative with good examples. As Chief Medical Officer of a biotech startup that has to sell into the C-suite, I will be buying copies for our entire sales team."

Bob Lubitz, MD, MPH, FACHE, MACP

Chief Medical Officer, 3Oe Scientific, Inc.

"One of the best ideas for a book I’ve heard in a long time. It should be required reading for all vendors. Reading this book would be one of the smartest things a healthcare salesperson could do for their career."

O.J. Booker

Healthcare Consultant and Hospital CEO

"Thriving in the Healthcare Market offers real solutions and innovative approaches to dealing with our country’s complex and often-confusing healthcare market. The book promises to be a helpful and important addition to healthcare thinking.

Nancy Desmond

Co-founder and Former CEO of the Center for Health Transformation

"Glenn delivers a well-organized narrative that demystifies the many complexities and hidden pitfalls preventing entrepreneurs from finding success today. This is a must-read for any investor, entrepreneur or technologist inspired to disrupt healthcare!"

Michael A. Levy

CEO and Co-Founder, Bluedoor Health

Co-Founder Digital Health Institute for Transformation

"The reader will know Glenn Pearson has ‘been there and seen that.’"

William Moore

Retired Hospital CEO

President, Moore Business Groups, LLC

"This would be a great book for anyone preparing for a career as a healthcare executive."

Jeffrey Whitton, FACHE

Senior Director, Physician Practices

LifePoint Health

"I often cringe at the lack of financial analysis and credible forecasting I see in many companies' presentations. The ROI discussion in Thriving in the Healthcare Market nails it! Any entrepreneur can use it to produce projections that will stand up to scrutiny and demonstrate value to both investors and customers."

Jason Rupp

Executive Director

Southeastern Medical Device Association

"This is wonderful. I got a good chuckle out of his scenarios. This will be so helpful for those trying to ‘sell us.’ We see right through all these ROI pledges from vendors. They make us not trust the salesperson."

Cathy H. Dougherty, FHFMA

Vice President, Revenue Cycle Management

Gwinnett Health System

"Pearson applies his high level of intellect to this book, yet he presents his material in a way that is easy to digest."

Jerry Fulks, FACHE

Retired President

WellStar West Georgia Medical Center

"Glenn Pearson's explanation of how the healthcare system is funded goes a long way towards helping the reader understand the complexities of both the current environment and legislative proposals being floated."

Russ Lipari

Founder and CEO

Health Connect South

"The chapter on approaches for reforming the healthcare system is a real highlight. I love the concepts he presents. Great ideas!"

Lance B. Duke, LFACHE

Healthcare Executive

"Glenn Pearson is like a one-man think tank."

Joel Pieper

Atlanta Office Managing Partner

Womble Bond Dickson law firm

"Great book!"

Kathy Reep, MBA

Vice President, Financial Services

Florida Hospital Association

Table of Contents

Acknowledgements. About the Author. Introduction. Chapter 1 - The Jacked-Up World of Healthcare Financing. Chapter 2 - Six Things that Don’t Make Sense. Chapter 3 - Three Ideas to Make Things Better. Chapter 4 - The Six Fronts of the Healthtech Revolution. Chapter 5 - Timing Pitfalls. Chapter 6 - Credibility Pitfalls. Chapter 7 - Product Design Pitfalls. Chapter 8 - Market Misreading Pitfalls. Chapter 9 - Data Pitfalls. Chapter 10 - Technology Pitfalls. Chapter 11 - Communications Pitfalls. Chapter 12 - Return on Investment Pitfalls. Chapter 13 - Other Financial Pitfalls. Chapter 14 - Legal and Regulatory Pitfalls. Chapter 15 - External Political Pitfalls. Chapter 16 - Internal Political Pitfalls. Chapter 17 - Organizational/Operational Pitfalls. Chapter 18 - Final Thoughts.

About the Author

Glenn Pearson, FACHE is the Founder and Principal of Pearson Health Tech Insights, LLC, a consulting company helping bridge the gap between healthcare executives/providers and technology entrepreneurs/developers/vendors to help maximize the success of disruptive healthcare technologies. Mr. Pearson has served for more than 19 years as Executive Vice President at Georgia Hospital Association where he led the following areas: finance (Medicare, Medicaid, private insurance, etc.), data, information technology, emerging technology (mobile health, digital health, telemedicine, etc.), communications, public relations, entrepreneurial services, and vendor relations.

He is board certified in healthcare management and a fellow of the American College of Healthcare Executives (ACHE), the leading international organization for healthcare executives. He was elected by his peers to serve as the American College of Healthcare Executives Regent for the state of Georgia, and Georgia’s affiliates and members. He was on the founding board of and later chaired the Technology Association of Georgia Health Society. He was also the founding president of what is now Georgia Health Information Network (the statewide HIE) and continues as an Executive Committee member, treasurer and chair of the Financial Sustainability Committee. He has also chaired and/or served on the board of numerous other national, regional and local healthcare and community organizations, including the Association of Healthcare Enterprises, the Allied Association of Hospital Accountants, Southern HIPAA Administrative Regional Process, and the Georgia Association of Healthcare Executives.

Glenn Pearson earned a Master of Health Administration degree from the Ohio State University where he received the Faculty Award for Academic Excellence. He graduated magna cum laude and with honors from the Syracuse University Honors Program and was inducted into Phi Beta Kappa and Phi Kappa Phi international honor societies.

About the Series

HIMSS Book Series

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Subject Categories

BISAC Subject Codes/Headings:
BUS043000
BUSINESS & ECONOMICS / Marketing / General
BUS053000
BUSINESS & ECONOMICS / Quality Control
BUS058010
BUSINESS & ECONOMICS / Sales & Selling / Management
BUS087000
BUSINESS & ECONOMICS / Production & Operations Management
MED002000
MEDICAL / Administration
MED043000
MEDICAL / Hospital Administration & Care