Learning how to sell to hospitals can seem like a daunting task. One thing you’ve surely noticed: the sales cycle for hospitals is much longer than that of other types of businesses. Selling medical devices to them can be complicated because you may have to go through a couple of levels of management before you reach a decision maker. In addition to this, the healthcare industry has a naturally risk-averse disposition, so they can be reluctant to pull the trigger on a purchase.
However, there are ways you can adapt to this cycle, and even shorten your turn around time for a sale. For instance, try scheduling your sales pushes with different facilities to correspond to when their fiscal years are about to end. This can speed up their decision-making process. A good tool for accomplishing this is Guide Star, which provides balance sheet data, expenses, board members listings, and other important data on your perspective clients.
Remember, if you miss the fiscal year-end of healthcare facility, don’t fret; keep them in your pipeline and work on other leads until the end of their cycle approaches again.