Breaking down the medical device sales cycle – Stage Two: Value Analysis Approval
This committee discusses the clinical, fiscal, and logistical factors of bringing a new product into a hospital. The department manager, supply chain, and physician head attend these periodic meetings, usually held monthly. It is essential to understand the motivations of each member …
Breaking down the medical device sales cycle – Stage One: Support
The sales cycle starts by gaining product support. The “decision-maker” is a group of people who must align to bring your product into the hospital. In most situations, you will begin by earning the support of at least one physician. However, the …
What does the sales cycle look like in Medical Device Sales?
Compensation is high in this field because a limited number of sales professionals can endure its long sales cycle. This career is more complex than meeting with a physician, gaining interest, and receiving an order. There are hospital protocols and numerous stakeholders …
What can monthly compensation look like in medical device sales?
The industry’s most extensive survey shows that the average Medical Device Rep compensation is $176,000 annually- that’s a monthly income of $14,667. As we’ve shared, your specific employer will have their unique compensation plan. The model below depicts a typical medical device …
Hardware Explained
We’ve shared the differences between the two most common classifications of medical devices, disposables, and capital equipment. However, another category does exist- hardware. Hardware Explained: These Reps typically sell surgical instruments (needle holders, forceps, scissors, etc.). Hardware is used in one case …