Healthy Skepticism Library item: 1092

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

 

Publication type: news

Pharmaceutical Sales Force Excellence: Medicaid Market Tactics that Increase Sales
BUSINESS WIRE 2003 May 1

Full text:

CHAPEL HILL, N.C.—(BUSINESS WIRE)—May 1, 2003—Expansion-minded pharmaceutical sales managers dedicate resources to untapped Medicaid markets to capitalize on the program’s rapid formulary access, minor restrictions and limited out-of-pocket patient costs. According to a study from benchmarking leader Best Practices, LLC, effectively managing these markets creates unique opportunities for sales organizations seeking new growth channels. “Best Practices in Medicaid Sales,” online at http://www3.best-in-class.com/rr34.htm , includes critical sales messages and innovative techniques for selling to physicians with high Medicaid patient clientele. Reps’ best practices in message delivery, for example, include insights into the following points:

Stress product ease-of-use.

Focus on patient concerns, not scientific data.

Address the benefits of health-maintenance prescriptions versus periodic emergency room care.

Highlight and explain Medicaid structure benefits.

Emphasize quality of life issues to address competing products.

“Best Practices in Medicaid Sales” was developed through interviews and focus groups with high-Medicaid volume sales reps and district managers. Sales leaders can use the report’s information to accomplish the following: — Hire and train reps with qualifications specific to high-Medicaid markets — Improve rep planning and targeting — Increase segment coverage by incorporating Medicaid-specific needs into corporate and local marketing plans — Build strong relationships with individual doctors and communities in Medicaid-heavy territories “Overlooking or rubber-stamping Medicaid sales efforts means that companies miss major growth opportunities,” notes Best Practices, LLC CEO Chris Bogan. “Leading sales executives focus on the unique characteristics of high-Medicaid prescribers to fully explore this critical market.” Download a summary of “Best Practices in Medicaid Sales” at http://www3.best-in-class.com/rr34.htm. For more information about this report or other benchmarking reports, contact David Burton at 919/767-9259 or at dburton@best-in-class.com.