Explaining Pharmaceutical Sales–Part II

In my previous post (Explaining Medical Revenue - Part I), I said you about the difference between capital sales and consumable sales, mainly concentrating on what kinds of products are involved in capital revenue.  In today’s episode, we’ll talk about consumable and service sales as they relate to clinical revenue, medical sales, clinical diagnostics sales, medical equipment sales, pharma revenue, imaging sales, medical device sales, hospital equipment sales, or biotechnology revenue.

Consumable revenue (remember, like shampoo–something you’ll use up that generally doesn’t require much cash outlay) are things like inject-ables, wound care products (bandages), reagents for the clinical, sterilization products (although these could be capital), lotions, potions, even aspirin given to patients in the hospital.

The other non-capital sale is a service sale.  Even in a consumable sale, the customer can see, hear, and touch the products, but in a service sale they can’t.  This kind of sale would cover lab services, off-site imaging, payroll, human resources, even recruiting (like I provide).  This is a little bit more difficult sale.  You’ve to demonstrate, or prove the service to them to sell ‘em on it. 

Then there’s you:  Where do you fit?  Are you a hunter or a gatherer?  The hunter likes to close the sale most of all, and can be in any of these areas.  But this person really likes to get new business, close the deal, and move on…and the higher-dollar the sale, the better.  The gatherer is more like a farmer–who wants to tend the field, take some time, plant the seeds, you get it.  The gatherer will not mind making many sales calls on a customer, and even enjoys building the relationship.  If the sales figures are lower per sale, that’s OK…he or she takes pride in providing quality service to their customer.

So which are you?

Article courtesy of  Peggy McKee - Owner / Senior Recruiter at the nationally
recognized pharma and clinical revenue recruiting team of PHC Consulting.
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