Sales managers at top-performing medical labs and pathology groups are directing the lab sales reps to develop new clients who can refer lab tests that are still adequately reimbursed
In today’s rough-and-tumble healthcare marketplace, every clinical laboratory and pathology group needs a sales manager or sales vice president who is at that top of the game in managing productive sales reps, achieving growth targets, and strengthening their lab’s financial stability.
Labs with strong sales leaders are doing much better financially at a time when payers are slashing the prices they pay for medical laboratory tests.
Better-managed medical laboratories have two winning strategies to offset declining revenue and shrinking specimen volume. First, the savviest lab sales/marketing managers are helping their lab sales reps concentrate sales development efforts on the types of clients who still refer specimens that are adequately reimbursed.
Second Sales Strategy Used by Top-Performing Clinical Laboratories
The second strategy is to analyze reimbursement for individual clinical laboratory tests as they are reimbursed by different payers. Top-performing lab sales/marketing VPs then use this knowledge about which specific lab assays are money-losers and which are money-makers to help their lab sales reps concentrate their sales efforts to increase referrals to those labs test referrals that are adequately reimbursed from both existing and new clients.
To teach and share best practices in lab sales management, this year’s Executive War College on Laboratory and Pathology Management in New Orleans is conducting a special one-day workshop for laboratory sales/marketing VPs, managers, and other lab sales leaders. It is titled “Building a Sales Organization That Overachieves: Essential Strategies and Insights for Lab Executives and Sales/Marketing Managers” and will take place on May 1, 2014.
Medical Lab Sales Managers and Sales VPs Face Multiple Challenges
“Lab sales managers—and their sale representatives—face multiple marketplace challenges today,” stated Robert L. Michel, Founder and Producer of the Executive War College. “To help them, this sales management training resource is tailored specifically to anyone managing a lab sales program, including hospital lab outreach programs and anatomic pathology groups.”
Leading this unique lab management learning opportunity is Karl Scheible, who is President of Market Sense in Austin, Texas. He is nationally known and operates one of the Sandler Selling System’s most productive offices worldwide. During the workshop, Scheible will teach both the essentials of lab sales management for just-promoted lab sales managers and more sophisticated management strategies for experienced sales professionals.
Sales Management Training for Clinical Lab Sales Leaders
In a focused day of learning, lab sales managers will learn the following:
- How to swiftly recognize the weaknesses of the lab’s sales program, along with effective techniques to fix them.
- Essential steps to recruiting, training, and motivating top lab sales reps.
- Understand why most lab sales compensation programs are flawed and learn the simple changes that drive big increases in profitable new sales.
- Learn why most lab sales reps sell on lowest price and how to teach them powerful techniques to sell on value.
- Best ways to monitor sales productivity and profitability and sustain high-performance by the lab’s sales team.
“Lab CEOs and administrators cannot afford to finance an underperforming lab sales and marketing program, particularly at a time when lab budgets are shrinking,” observed Michel. “They should ask themselves this question: ‘When is the last time my lab’s sales VP or sales manager attended a sales management workshop?’ Too often, the answer is ‘Never!’”
Clinical Lab Execs Encouraged to Invest in Sales Management Training
“Given how important the success of a lab’s sales program is to the ongoing financial stability of the organization, lab executives are encouraged to make the modest investment needed to send their sales VPs and sales managers to this first-ever laboratory sale management workshop,” recommended Michel. “Sales management training that converts into increased revenue and improved operating margins for the laboratory can be the single smartest decision a senior lab administrator makes this spring.”
Attendance at “Building a Sales Organization That Overachieves: Essential Strategies and Insights for Lab Executives and Sales/Marketing Managers” is limited to ensure that every participating lab sales manager gets personal attention and comes away with the techniques, knowledge, and confidence to turbo-charge the productivity of his or her lab sales program. Workshop details and registration information can be found at www.executivewarcollege.com/register/.
Boosting the Revenue Contribution of Your Lab Sales Program
With further cuts to the prices of clinical lab tests and anatomic pathology services expected, responsive medical lab administrators and executives would be wise to send their sales leaders to sales management development programs, such as this year’s one-day workshop titled “Building a Sales Organization That Overachieves: Essential Strategies and Insights for Lab Executives and Sales/Marketing Managers”. Space is limited, so register today to guarantee your place!