Summary: As more and more hospitals acquire physician practices, do you know who the new decision makers are? Hint: It’s not the people wearing scrubs. Instead, it’s the people wearing dress shirts and ties. Don’t misunderstand me. I firmly believe physicians still have a say as to which medical devices they use. But without a doubt, ‘physician preference’ no longer rules. Enter the new dictator: PRICE! Because of external forces like the 2.3% medical device tax and changing buying patterns at the hospital level, medical device companies need to iterate on their sales models. To help navigate these rough waters, enter Tim Gleeson and Joe Andrew, co-founders of Novasyte. In this interview with Tim and Joe, we learn how medical device companies can utilize novel methodologies in order to win in today’s challenging economic environment. Here's What You Will Learn - In the midst of successful medical device careers, why did Tim and Joe decide to start Novasyte? - Tim’s ‘Jerry McGuire’ moment that triggered the creation of Novasyte. - Challenges that product conversions represent for medical device companies. - Should medical device sales reps perform non-selling activities? - The need for medical device companies to iterate on their sales models. - Remote video and phone support: Can it work? - Can service be a differentiating feature when trying to cross the pricing gap? - Novasyte’s unique offerings for medical device companies. - Lasting advice from Tim and Joe for ambitious medical device doers. - And much more! This Is What You Can Do Next 1) You can listen to the interview with Tim and Joe right now: Download audio file (Novasyte_MedsiderInterviews_2012.mp3) 2) You can also download the mp3 file of the interview by clicking here. Don't forget – you can listen to this interview and all of the other Medsider interviews via iTunes. And if you get a chance, leave us an honest rating and review. 3) Read the following transcripts from my interview with Tim and Joe. Also, feel free to download the transcripts by clicking here. Read the Interview with Tim and Joe Scott Nelson: Hello, hello everyone. It’s Scott Nelson, and welcome to another edition of Medsider, the place where you can learn from med tech and medical device experts on your own terms without going to school, and on today’s show we have Tim Gleeson, who’s the CEO of Novasyte. Thanks, Tim, for coming on. Really appreciate it. Tim Gleeson: Yeah, thanks for having me. Scott Nelson: Alright, Tim. First, can you give us a little bit of background about you, and then tell us a little bit more about Novasyte? Tim Gleeson: Yeah, sure. So my background is a pretty typical sales management background. I was with a business sales environment in New York City for a couple of years, and then moved into med device sales with a large company. I’m not sure if we can say the name of the companies out loud? Scott Nelson: Yeah, that's fine. That's fine. Tim Gleeson: Fantastic, yes. I was with Covidien for many years in the sales ranks, and then was promoted out to the West Coast here in Southern California in sales management. And as we went through some pretty big GPO swings and some pretty big IDN plays, bringing on multiple products at once, we were constantly tasked with trying to figure out how to [00:01:14] educate and manage conversions. So we spent a lot of time on sales and sales management educating end users on how to use our products. And even though they were low-tech in some instances and moderately technical in others, we would spend upwards of 40% of our year educating. And so, you know, we looked at—and we being my business partner Joe Andrew and I, and Joe’s going to join the call here a ...
