05 Feb How Medical Device Companies are Growing Revenue

Posted at 13:23h in All Articles by

medical equipment

Field Service Medical has been dedicated to supporting medical device companies and their quest for growth, safety and exceptional customer service for more than 15 years. 

The annual conference draws field service executives from around the United States so the industry can continue to develop, improve and service the devices medical practitioners use to evaluate, diagnose and treat patients.

In keeping with their reputation as the clearinghouse for industry research and information, Field Service Medical conference organizers recently published an industry outlook report that shines a light on how medical device manufacturers are looking to grow their organizations and deliver increasing value to customers.

Among the report’s findings is a revealing look at how medical device companies are working to increase revenue. A significant majority — fully 70 percent — identified technology as the key driver of revenue growth. Hiring more salespeople and implementing training programs came in second and third places, respectively, with 37 percent and 30 percent identifying these as paths to growth.

Why is technology first on the list?

According to the report, technology provides organizations with a competitive advantage when it comes to service quality and efficiency, and “it is also a means by which companies are delivering greater satisfaction to their customers and driving brand loyalty.” Loyalty translates into recurring and more profitable revenue. Mission critical technologies, like process-driven mobile apps, give medical field technicians the tools and incentive to take on more sales-centric roles, while making no compromise when it comes to efficiency and safety. Mobile apps give technicians the information and insights they need at the exact time they need them, allowing them to be more proactive in customer interactions.

At this year’s Field Service Medical conference in La Jolla, California, Mobile Reach is demonstrating highly usable mobile apps that mold to a service organization’s field workflows  and enterprise systems to maximize productivity and drive increasing revenue. Field Service Medical attendees can get a personalized demo of Mobile Reach solutions in the expo hall on Monday, Feb. 26 and Tuesday, Feb. 27.

How to recruit and retain medical field service techs is among the many topics being addressed at the conference.