On this episode of Med Tech Gurus, we sat down with Nancy Trick, Clinical Manager of Worldwide Evidence & Education at Beckton Dickinson. Nancy was kind enough to spend some time talking about the Med Tech market, education & support, and lessons learned from a career in the Medical Technology sector.
A Company that Missed the Mark
There are a lot of companies that have wonderful intentions, but just miss the mark. One in particular was a large medical device company who was the market leader in their core technology, not just in the United States, but globally.
They acquired a small start up with great technology, and a disruptive, innovative presence in the market, and brought on the sales and marketing leadership of the start up.
However, the leadership took their eye off the core technology of the company in the process of integrating, and shifted their sales team over to the new technology. While the technology was great, it wasn’t ready to be launched.
The leadership forgot about their core technology.
Luckily, the company rallied, worked together to better understand the customer’s needs, and that company is not one of the industry leaders in catheter tip positioning, but this story is an all-too-common one.
As your company grows and acquires new technology, don’t forget about what’s at your core, and keep moving forward. Clinical selling is developed through relationship building and being available.
A Company that Hit a Homerun
The vascular access market has grown tremendously in the last thirty years. Technology has had a great deal of influence in the moving of clinicians and clinics to adopt new products.
One particular company saw the opportunity for midterm use of vascular access, and developed a product that was backed by evidence, was incredibly reliable, and had solid technology.
The company acquired complementary technologies to enhance and support their core technology, offering additional products as needed.
The catheter itself is important, but the complementary technologies, such as ultrasound and positioning are crucial. The company started with the core technology, but realized they needed to build on that technology in order to better help customers utilize the safest and most effective possible methods.
This company is actually now the leader in vascular access globally.
You have to have top-down leadership that understands the realities of producing product and driving them to bedside. Without the “feet on the street,” your product is forever stuck in the “this is a good idea” phase.
Your top-down leadership has to be as strong, if not stronger than your feet on the street.
It used to be that you could bring in a new product, and if that product provided a service that was needed, at a price point that everybody could live with, that was good enough.
Now it’s not only gaining that relationship, but bringing documented, real-time experience using a product, along with a solid plan for education and support for the product.
How has it been tested? What are its challenges? How could it be made better?
Bring evidence and education to the table, and teach people how to truly understand and use your product.
Unfortunately, the medical device market can be one that is rife with timidity and caution. One of the trends that seems to be catching on is avoidance of new technology as a solution for reducing risk.
When there is a risk, what is it that cause that particular risk? How could it be made better? Bring that evidence and support to the table early, and often.
When their is a risk, what is it that caused it? Look at it from the industry side, and the applied practice side.
There is so much good to be done in the medical technology sector. People are looking for technologies and the support to make a real and lasting difference in patient care. This is a great market for entrepreneurs looking to drive the field forward and do so with empathy, support, and reliability.
This post is based on an interview with Nancy Trick from Beckton Dickinson. To hear this episode, and many more like it, you can subscribe to MedTech Gurus.
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Tom is a 35 year veteran in the Med Tech space. Having personally worked with dozens of new technologies. It is Tom's passion to enhance patient outcome by bringing new concepts and technologies that will help clinical performance.