When deciding on whether to pursue a career in medical sales, it is helpful to know the basics of the industry.
Here are our quick takes on what a medical device sales rep is, what a medical sales rep does, and what medical sales are.
What is a Medical Device Sales Rep?
A medical sales rep is a liaison between medical device manufacturers and healthcare providers. These professionals are responsible for introducing medical device technologies to hospitals, physicians, and healthcare staff. If a physician expresses interest in a product, the medical device representative must work with the hospital to ensure the device is available for that physician. Once available, a medical sales representative educates everyone who interacts with the device on the specific instructions for use, ensuring patient safety and improving hospital efficiencies. These sales professionals are integral to the advancement of the healthcare industry. Due to the significance of their roles, medical sales reps are among the highest compensated sales professionals today. Research by medreps.com has found that the average total compensation of a medical sales rep in 2021 was $177,993. Their findings also suggest that this figure will continue to grow, as the annual base salary and commissions have steadily increased since their first publication in 2011. Entering a career with significant purpose and high earning potential has made medical device sales one of the most sought-after sales careers.
What Does a Medical Device Sales Rep Do?
Medical sales reps serve a variety of responsibilities, making every day a little different. They spend time promoting their products across their territory. Once they've received interest, they work alongside various decision-makers within an account. Frequently, to earn new business, medical sales reps must support several procedures where their product is used. After an adequate evaluation, the account determines whether they are interested in stocking the medical sales rep's product for consistent usage. If they do, the work doesn't stop as now time is spent educating other physicians and their staff.
Most medical sales reps have many devices to sell and cover many accounts. They could be at any point of the sales cycle with each of their current opportunities. Keeping this in mind, it becomes easier to understand how there is no typical day for a medical sales rep.
What are Medical Sales?
Medical sales refer to the purchase of medical devices, equipment, and pharmaceuticals. Sometimes, this also includes maintenance or other services. Medical sales encompass transactions with a healthcare company, physician, or other medical professionals. There are many types of medical sales, including disposable medical device sales, capital equipment sales, surgical instrument sales, medical implant sales, laboratory sales, pharma sales, specialty pharma sales, and biotech sales. Each of these medical sales professions contributes to our healthcare system. It is an impactful field that can create positive change for patients every day, as advancements in medical sales are advancements in patient care.