2017 Hospital C-Suite Medtech Purchasing Survey

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FSI recently conducted a survey of 50 hospital C-suite executives to learn about current medtech purchasing dynamics and how value-based contracting and hospital consolidation are impacting medtech companies.

This report covers strategic topics of interest to medtech companies selling to hospitals, including:

  • Top initiatives for growing revenue
  • Foremost efforts to reduce costs
  • Outsourcing of clinical services
  • Prioritization of HCIT investment
  • Hospital departments that generate the most revenue and profit
  • Medtech capex purchasing priorities
  • Anticipated medtech capex budgets
  • Influence of clinicians vs. procurement on selection of physician preference items
  • Vendor consolidation dynamics
  • Value of GPOs
  • Future of sales rep support in the OR
  • Adoption of services/solutions

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FSI’S Key Findings

  • Medtech customers are changing
  • Hospitals are targeting patient satisfaction and clinical outcomes to improve financials
  • Medtech spending will be focused on supporting hospital financials
  • Vendor consolidation is facilitating higher customer purchasing power
  • The basis of customer success is shifting from sales rep relationships to product-related value-added services and solutions

Strategic Implications

Given the shift to value-based contracting and hospital consolidation creating organizations with increasing buying power, medtech leaders need to consider how their strategic growth options align with evolving customer needs. What other challenges and market trends is your company facing and what opportunities do they present? We welcome the opportunity to discuss more of the findings and insights from our survey, including what the growth implications are for your business.