Share Moving Media

  • Publications
  • IDN Directory
  • Meetings and Associations
  • Training
  • Books
  • Podcasts
  • Blog
  • Events
  • Contact Us

4 Reasons Your B2B Business Should Invest in Niche Publications

June 9, 2021 By John Pritchard

When deciding where you want to spend your marketing money, take the time to investigate which publishing platforms will give you the best return on investment. Marketing through niche publications can be a good way of generating leads and increasing sales — as long as you choose the right magazines to market in.

There are different ways to publish your writing. You can choose traditional print media, or you might want to do it on the computer. But before you decide what type of writing you want, decide whether print or digital is best for you.

Print Media vs. Digital Media: Which is Better for Your B2B Business Marketing Strategy?

When you’re trying to decide how to spend your money, you need to think about whether you want to use traditional print media or digital media.

You can advertise your product in different ways. If you are looking for new people to come to see your product or service, you might want to put up ads around town. Or, if you want more people to join your newsletter, you might buy ad spots on websites or newsletters that have subscribers who would be interested in your product.

When determining where to advertise, take the time and investigate. There are pros and cons with either print or digital media. Choose which is best for your business goals.

Advertising in Print Media

With digital marketing becoming the norm for most marketing strategies, B2B business marketing teams often believe that investing in ads for digital media is the way to go. However, that’s not entirely the case.

Some people think that digital media can be used in B2B marketing, but some well-known industry leaders believe that it is not helpful. For example, Verizon Communications has started to explore the idea of selling assets such as AOL and Yahoo because they haven’t seen the benefits from acquiring these digital media assets.

If digital media is the way of the future, why aren’t businesses seeing the success that predicted some years ago? One of the primary reasons is that consumers still prefer print media sources for brand and service information sources.

While personal recommendations from family and friends and information from review websites still rank as the most trusted sources of information (93% and 91% respectively), printed newspaper and magazine articles (73%) are considered more trustworthy than blogs (65%), social media platforms (51%) and even blatant advertisements (38%).

So, this tells us that print media is far from a dead source when it comes to educating your ideal audience about your products/services. However, it does show that consumers don’t simply want to see a standard advertisement plopped into their favorite magazine, which makes sense considering B2B consumers are driven to make purchasing decisions based on educational content vs. traditional ads.

Advertising in Digital Media

So, if more people trust print ads, is it worth spending your marketing budget on ads in digital media? 

Yes.

It’s no surprise that digital advertising overshadows traditional marketing methods, with research predicting that digital ad expenditure will surpass $172 billion by the end of 2021. Digital media accounted for approximately 48% of all global ad spend in 2020 and is expected to account for 50% by the end of 2021.

The rise in digital media ad spend is no surprise as consumers spend more time online. Between social media advertising and PPC ads, consumers see between 6,000 and 10,000 ads per day. It’s essential to take the time and optimize these ads, so the right audience sees them at the right time.

4 Reasons You Should Invest in Niche Publications as Part of Your Marketing Strategy

Choosing where you are going to spend your advertising budget only begins with deciding between print media and digital media. The next step is determining the placement of your ads, whether they are in print publications or as a paid post somewhere on the internet. Then you’ll also have to decide on the audience you wish to reach, whether it be a broad or very niche audience.

Many companies don’t realize that utilizing niche publications (both print and digital) for advertising can be highly profitable and are unaware of the reasons why niche publications can be more effective for B2B business marketing than mainstream media outlets. Here are four reasons why your B2B marketing team should consider investing in niche publications as part of your ad spend budget:

1. Are More Likely to Be Read by Your Target Audience

To make the most of your ad spend budget, you need to target the right audience. Niche publications are more likely to be read by your target audience than mainstream publications, which means you’ll be reaching the customers you want to reach.

For example, those who read the niche publication, Journal of Healthcare Contracting, are B2B consumers looking for information on healthcare supply chain trends, information regarding distributors and manufacturers in the healthcare industry, etc.

So, if your audience falls within that niche target, then you are more likely to garner the attention of serious individuals looking for a solution to a problem. This kind of targeting results in shorter customer journeys, quicker sales, and improved profits.

2. Offer A Higher Quality of Content Than Other Media Outlets

It is important to note that the content offered by a niche publication is of a higher quality than that of a general publication. This is because the content is tailored to a specific audience, and the writers are more knowledgeable about their subject matter.

When you’re targeting a niche market, niche publications are a great way to get your message to the most likely people interested in what you have to offer.

3. Have Lower Rates for Advertising and Sponsorship Opportunities

Niche publications have lower rates for advertising and sponsorship opportunities because they have a smaller audience. This serves you well if you are a B2B business. Take advantage of niche publications and get a lot more bang for your buck.

4. Provide Better ROI on Marketing Campaigns

The success of any B2B business marketing campaign is usually measured in terms of ROI. The higher the return on investment, the better the campaign. Niche publications can help businesses achieve success in several ways:

●       Help to build brand awareness

●       Attract new customers

●       Create opportunities for product placement

●       Deliver the right message to the right audience

●       Increase sales

Niche publications, again, cater to a very small audience. For example, if you’re in search of new B2B customers for your medical products, then you may benefit substantially from placing a strategic ad in Repertoire Magazine. This publication focuses on following healthcare trends and finding new medical products and services that those in the medical field can utilize in their practices.

They include informative ads that present new products/services to their readers and educate readers why the particular product or service is beneficial.

Print and Digital Media Advertisements Can Be Effective in Niche Publications

When choosing how you maximize your ad spend, you need to consider who your audience is and where they’ll most likely come across your ad. While it may be tempting to spend the money to get your ad seen in a mainstream publication (either print or digital), it’s not going to guarantee your ideal target audience will come across it – even if it’s been optimized properly. That’s why you need to consider placement in a niche publication.

Curious how you can best utilize your ad spend budget by partnering with niche publications? Contact us today for more information.

Filed Under: Blog, Marketing Minute Tagged With: B2B business Marketing, b2b Marketing, B2B Marketing Teams, Digital Media, Print Media

Maximizing Healthcare Supply Chain Visibility Through Content and Ad Campaigns

June 4, 2021 By John Pritchard

The global digital market is growing relentlessly. Securing consumers and audiences is increasingly tough. Businesses in the healthcare supply chain are not exempt from this. 

As a healthcare supplier, you need to maximize your healthcare supply chain visibility not just by providing high-end products and services, but by marketing medical distributions and medical sales through campaigns that appeal to your customers. 

In this digital era, there are various ways to market your business. Seeing that the healthcare industry expends three trillion dollars per year, it is essential for you to stand out in the competition.

Now and then, a healthcare organization succeeds in providing stellar campaigns that reach its audience. They attribute it to good content and ad campaigns. 

But what exactly are these two components?

Content Campaign vs. Ad Campaign

A well-defined marketing strategy can have positive long-lasting effects on a company, but this includes properly planning and executing content and ad campaigns. 

Healthcare marketing can be tricky, but through these two strategies, you might just start your new campaign. 

Content Campaign               

A content campaign is an aspect of a digital marketing initiative. It is a goal-oriented content strategy that creates and distributes valuable content through blog posts and videos. 

Chart, funnel chart

Description automatically generated

Alt-Text Infographic showing the content marketing pyramid
Source:
Curata.com

It is important to note that a content campaign differs from a content strategy.  A content strategy is an overall plan for all the marketing efforts in a business. Implementing a content campaign without a content strategy will never help you reach your goal. 

A content campaign with a good content strategy can be launched over a period of a few months, depending on its scope.

Blog posts and videos are not the only examples of a content campaign. In fact, the strategy can be as big as creating and maintaining eBooks, webinars, best practices guides, and online tools for a variety of topics such as a lab, the flu,  a diagnostic test, physician office supplies, and more in the healthcare industry.

It is quite easy to develop your content marketing campaign with a solid framework.

Here are a couple of quick steps in formulating your content campaign:

  1. Find Your Goal: It is vital to starting the campaign that you lay down the groundwork for why you are creating it. The key to finding and defining your goal is to make it specific by putting context around the reason.
  2. Identify Your Audience: You must determine whether your audiences are prospects or current customers. Through good research, you can root out the factors that influence your audience’s buying behavior and maintain a connection with them. 
  3. Choose Relevant Topics and Identify Keywords: There are a lot of tools you can use in choosing relevant topics such as Google Alerts and Quora. Identifying keywords that are connected to your chosen topic can help the audience find your content. Keyword clustering can be used in a content campaign by selecting a group of keywords that are all related to the pain point you are addressing. 
  4. Distribute Your Content Campaign: Content is a common resource but when handled creatively and properly, it can be a very powerful part of your marketing strategy. One effective promotion plan that yields results is integrating the PESO (Paid, Earned, Shared, and Owned Media) model in your campaign.

Ad Campaign        

Advertisement campaigns, in its simplest definition, are specifically designed strategies distributed in a form of paid media.  

It is a digital marketing strategy that aims to promote content, increase brand awareness, boost sales, and improve communication within a specific market.

Online ad campaigns are one of the most effective ways for marketers, especially for businesses in the healthcare industry, to expand their reach, find a new audience, and branch out their revenue streams. 

Ad campaigns are part of the digital market strategies, and it is built around the content marketing campaign and strategy. Therefore, the steps for launching your ad campaign are pretty similar to developing a content campaign—except for tweaking designs and communication to appeal to your customers. 

There are a ton of options to launch your online ad campaign on and here are a few of those: 

  1. Pay-per-click Advertising: Pay-per-click Advertising (PPC), also known as Paid Search, is one of the most effective types of online advertising. Search engines such as Google and Bing allow marketers to advertise on the search engine results page (SERPs). PPC works on a bidding system wherein you select target keywords and compete with other marketers to advertise on the SERP. An advantage of this option is that, as the name suggests, you only pay when users click on your advertisement thus giving you a controllable and measurable channel.
  2. Social Media Marketing: Social media sites like Twitter, Facebook, and Instagram are growing by the minute. These sites present a range of opportunities for marketers to reach their target audience efficiently. Advertisers can modify their ad campaigns to fit their required demographics, from age to location, and maximize results. According to B2B marketers, 50% find social media to be a cost-effective option for launching online ad campaigns due to its relatively low price.
  3. Email Marketing: This is one of the most common and oldest elements of online advertising. Marketers engage in email marketing to sometimes launch email-only campaigns that highlight time-sensitive offers or content and in other times for complementing digital marketing channels.

Why You Need Both to Succeed in Healthcare Marketing

A picture containing diagram

Description automatically generated

Source: Neil Patel 

Content marketing strategies are at the heart of a good healthcare supply chain. 

Whether you are in group contracting, a medical distribution rep, or a healthcare supplier, the digital world is ever-growing, and understanding content and ad campaigns ensure visibility. 

Content campaigns help you meet your audience in their journey and encourage actions. Ad campaigns help deliver these messages to such an audience and ensure that you are visible to them. 

If you are looking to expand your reach and increase your patient connections, you must implement both campaigns in your content strategy. Moreover, you can also promote significant medical services and enhance the patient experience from valuable content. 

Implement Content and Ad Campaign in Your Healthcare Business 

Behind great healthcare marketing, is a wealth of valuable resources, through content and ad campaigning that connects companies to their audiences. It is essential to keep up with the trends of technology and digital marketing. 

Share Moving Media is dedicated to assisting healthcare suppliers in understanding the marketplace of the healthcare industry.  

Contact us today to know more about implementing content marketing strategies for maximum visibility and results. 

Filed Under: Blog, Marketing Minute Tagged With: diagnostic test, flu, group contracting, medical distribution, medical sales

How to Use Customer Feedback to Improve Healthcare Product Marketing

May 26, 2021 By Scott Adams

You are a vital component of the healthcare supply chain.

But if you are not providing what your clients need, you’ll soon be left out of the loop. 

Thankfully, you can prevent that from happening by not only offering high-quality (products) but also by marketing those supplies in a way that appeals to your customers. 

How can you do this? By paying close attention to customer feedback, you receive in your healthcare product marketing campaigns.

Customer Feedback in Healthcare Product Marketing: Just How Important Is It?

Customer feedback is valuable information that you get from customers about whether they like or dislike a product they purchased from you. They can also provide feedback on their customer experience: 

  • While evaluating items on your website
  • At checkout
  • With your customer service team
  • When returning or replacing items

Hearing from your customers is vital to the success of your business in multiple ways. 

Timeline

Description automatically generated

Source: ReveChat.com

Image Alt Text: Most consumers are more likely to invest with a company if the company pays attention to customer feedback to improve their product or the customer experience. 

  • Better products: You sell physician office supplies because you know that doctors (in private practice or a hospital setting) need these products to better serve their patients. You had an idea of what your customer needed before you even sold the product. Once it has sold, however, you can get feedback from your customers that tells you what changes are needed to make the product even better. Take that information and use it! Improve your product. Doing so will impress your customers and encourage them to become loyal to your company. 
  • Better service: Similarly, if the customer experience leaves something to be desired, hearing suggestions about how to improve is immensely helpful. You might learn that your employees need some training in sales and customer service skills. Or they might need some training on the ins and outs of the products you sell. If your sales and customer service teams are as knowledgeable as you are about these things, they will help make the customer journey more enjoyable. 
  • Improved marketing: As was mentioned, you have an idea of your customers’ needs. But customer feedback in healthcare product marketing can help you create marketing content that speaks to their needs. Potential clients who read/watch/listen to your materials will likely feel more understood and appreciate that you have taken the time to comprehend how they feel and what they need.
  • Everyone loves feeling appreciated: Asking for feedback in the first place is a great way to improve customer loyalty. When healthcare suppliers ask for feedback, customers feel appreciated, like their input/opinion/experience is valued. If you make them feel that way, they will be more likely to invest with your company not just now but also long-term. Additionally, customers are now more inclined to choose companies that value customers over profits. A recent survey found that 71% of consumers would lose trust in a brand that puts profits over people. 
  • Improve your reputation: Even companies with good reputations need to work on making sure they retain their good name in the healthcare sales industry. If your reputation could use some improvement, getting feedback from customers will help. You’ll learn where your company or products’ weak points are. You can take steps to answer questions and address unfavorable reviews. Doing so will help you start rebuilding trust with customers and potentially improve your medical sales. 
  • Better decisions: Customer feedback can help your company make better business decisions. You work in a competitive market. Making business decisions based on a guess or a hunch is not a good path to travel. Instead, look at what customers are communicating. Their feedback can help you decide whether you should keep selling a certain product. It can also tell you how you should sell products. For example, more consumers than ever before are making purchases online – and that number is expected to rise. Can customers buy from you online?

The Customer Feedback Loop: How to Use Feedback to Improve Your Marketing Efforts

To fully utilize customer feedback in healthcare marketing, you may find it helpful to incorporate the customer feedback loop. The loop consists of four steps. 

Diagram

Description automatically generated

Source: Survicate.com

Image Alt-Text: The three phases of the customer feedback loop.

1. Ask for and Gather Feedback

There are multiple ways you can gather customer feedback, including: 

  • Customer feedback surveys
  • Customer contact forms
  • Emails
  • Live chat
  • Customer interviews
  • Social media posts
  • Website analytics 

Taking a proactive approach to customer feedback will help you build trust and ensure that your marketing messages never stray too far from what your customers want and need. 

2. Learn from the Feedback

Now, it is time to analyze the feedback you get. You’ll need to determine: 

  • The customer’s motivations
  • The volume of the feedback (do you only have one negative review, or are 80% of the reviews negative?)
  • Whether issues faced by customers are repetitive or new

Based on what you learn, you can start brainstorming and action planning. What needs to change? How can you make those changes? Are they cost-effective? If not, what can you do to make the changes and the product more affordable without lowering product quality? 

If the feedback you get pertains to customer service, consider whether you need to implement some training programs or if you need to hire more staff.  

3. Apply What You’ve Learned

This is the phase where you start taking some action. You and your team can implement the changes and start a marketing campaign around the adjustments you’ve made and how they’ll benefit your customers. 

4. Repeat

You’re in a loop, so you’ll need to continue asking for and analyzing feedback – even after you’ve made adjustments. But that’s a good thing because it will help your company to continually improve.

Your Customers’ Voice is Priceless 

As a healthcare supplier, you are in a unique position. You provide products that can help make patients’ and medical workers’ lives easier. What you supply may even help save lives. You are in a rewarding industry. 

To ensure that your business continues to flourish so that you can help those in the medical industry and their patients, you need to make a profit. 

Having amazing products is not enough. You need to listen to your customers. Make it a practice to ask your customers for honest feedback. And make sure you listen carefully and do something with the information they provide. Doing so can help you improve your profitability now and into the future. 

Find out how a unique targeted messaging campaign from Share Moving Media can boost your online visibility. Contact us today for a free analysis to learn more.

Filed Under: Blog, Marketing Minute Tagged With: customer feedback in healthcare product marketing, healthcare suppliers, healthcare supply chain, physician office supplies

Online Directory Listing: Is it Still Relevant in 2021?

May 21, 2021 By Scott Adams

As a medical supplier, you want to stay on top of the latest marketing techniques – and not waste your valuable marketing dollars on media formats that are no longer relevant.

Online directory listings were essentially created to serve as the internet’s response to the phone book. There is no question that the telephone book is irrelevant these days. However, you might also be wondering whether the digital version of the phonebook is still relevant. It is a fair concern.

After all, online directories were created in the days before Google existed. If you wanted to find a website, you had to input it directly. If you did not know the exact address, the solution was to search an online directory. As web directories expanded, they made money by boosting specific results for a fee or selling ad space.

Given that search engines now make it easy to find websites online even with only a partial address or business name, you might assume that online directories in healthcare are defunct. While you should not necessarily invest big bucks in directory listings now, you also shouldn’t ignore them completely. Failing to maintain listings can cause issues for your business – as you will see below.

Why Online Directories in Healthcare Still Matter

This e-guide explains why online directories in healthcare still require your attention in 2021.

Improve Search Engine Optimization

If you have a website, you have undoubtedly informed yourself about the importance of good search engine optimization, or SEO. This makes it easy for people to find you as a medical supplier via Google, Bing, and other search engines.

While search engines might be part of the reason online directories are less significant these days, they still take online directories into account. Inputting your business into reputable directories (more on how to tell what is and is not reputable below), you generate backlinks to your website. Backlinks help increase SEO rank.

Ensure a Consistent Online Presence

Accuracy is critical when it comes to online directories in healthcare. Incorrect or inconsistent listings can give your medical supply business an unprofessional appearance. They can also make it difficult for potential customers to find you via the directory – which is the original goal.

Inconsistent listings can also hurt your online presence by damaging SEO. Remember that just because you have not created an online listing for your medical supply company does not mean someone else has not. You may have listings you do not know about. It is essential to ensure the information they contain is the same across all platforms.

Search engines like Google can view discrepancies between business listings as a red flag, thinking they are fake or scams. This can make Google question the authenticity and legitimacy of your website, detracting from your SEO success.

Check Your Reviews

Online directories allow you to expand your online footprint in one other valuable way – they can serve as a means of gathering testimonials from satisfied clients. Client reviews can help serve as a natural, helpful, and trusted means of word-of-mouth marketing. Plus, they do not cost you a thing financially.

That said, all reviews are not necessarily good. Again, remember that some directory entries may exist that you are not aware of – because someone else created a listing for you. You do not want this to happen with a disgruntled customer.

While you cannot delete a bad review, which would be unethical, you can respond to it. Consumers react positively to a positive, thoughtful response from a business to a negative review. Your response shows that you are still engaged and listening to what your client wants. It is far better than simply letting negativity go unanswered.

How to Make the Most of Online Directories as a Medical Supplier

You cannot afford to ignore online directories in healthcare, even in 2021. Regular directory maintenance will help protect your medical supply business’ online presence. Check your directory listings across major platforms regularly to ensure they are up to date.

Major generalist directories include BOTW, AboutUs, and Spoke.com. There are also local directories, like Google My Business, Bing Places, Yahoo, Yelp, and the Yellow Pages. Some guides can help boost your business reputability – like the Better Business Bureau and the U.S. Chamber of Commerce.

Other directories specifically target medical suppliers, like MedSuppliers, Medical Device Directory, and the Medical Device Qualified Supplier Directory (Qmed). When deciding which medical supplier directories to work with, do your due diligence.

First, do your research to determine what directories are trustworthy and active. A reputable directory should:

  • Review submissions: Be wary of any platforms that approve listings automatically. These are likely to contain scams and spam links. A reputable directory will use editors to review applications and ensure credibility.
  • Be user-friendly: The appearance of an online directory can be an indicator of its trustworthiness. A disorganized page with many pop-up ads is not user-friendly – and is unlikely to do you much good.
  • Cater to the end-user: A reputable directory will target the end-user, knowing that the end-user relies on the guide as a trusted source of information. A well-maintained, clearly designed, and comprehensive directory listing provides actual value to users with well-sourced content.

You want to present yourself as a trustworthy, reliable supplier to potential customers who may find you online. You do not want your name associated with the scam- or spam-filled directories.

Boost Your Digital Marketing in Healthcare with Share Moving Media

Online directories in healthcare are just one of the many tools you can use to boost your business profile and expand your market reach as a medical supplier.  Share Moving Media helps healthcare distributors stand out from the crowd and increase visibility with comprehensive content marketing services.

We are a full-service media agency working across multiple media formats, including print publications, online webinars, blogs, podcasts, and more. We work exclusively with healthcare suppliers, giving us unique insights into the marketplace. With our marketing and healthcare knowledge combined, we can support your success. Get more tips from the Share Moving Media blog.

Want to collaborate? Contact us.

Filed Under: Blog, Marketing Minute, Uncategorized Tagged With: digital marketing in healthcare, e-guide, online directories in healthcare, online directory

7 Revenue-Focused Tips for Hospital Supply Chain Management

May 18, 2021 By John Pritchard

Hospital supply chain management is complex due to challenges like limited inventory visibility, a lack of audit trail for supplies, and limited control over procurement. These issues can result in waste, costing healthcare organizations valuable money. Research suggests that United States hospitals could save up to $25.7 billion annually with improved handling of products and operations.

As a medical supplier or healthcare distributor, understanding the supply chain hurdles your clients face is critical if you are going to cater to their needs. These hospital supply chain management tips provide essential insights and give you the tools you need to enhance collaboration with your clients.

7 Hospital Supply Chain Management Tips

Supply chain hurdles do not just impact healthcare workers. They can also prove problematic for patients, increasing the risk of supply gaps or shortages — a critical issue when it comes to potentially life-saving equipment, tools, and medications. Implementing the below hospital supply chain management tips is thus a question of cutting costs and improving patient care.

1. Use Technology to Improve Overall Inventory Management

Technology improves inventory management to help cut costs. Management can enhance pipeline visibility to track medical device product usage in a hospital or healthcare facility using cutting-edge QR codes. Radiofrequency identification, RFID, tags are another option. RFID tags are used to track everything from vehicles to pets.

Cloud-based solutions are another expected game-changer for the healthcare supply chain management market. A hospital is a data-driven organization, collecting masses of patient data, from personal details to medical history, current symptoms, and insurance information. Cloud-based solutions help integrate information coming in from diverse locations.

2. Manage Medical Devices to Point-of-Use

Once QR or RFID codes are in place to track inventory, hospitals will gain comprehensive oversight of how, when, where, and why medical devices and products are used. This opens the door to mapping products throughout the entire supply chain through to the point of use. Managers will have apparent oversight of what devices are already in circulation versus where supplies are lacking.

Hospitals can also correlate data regarding medical device use with general organizational data (patient populations, staffing, seasonal health trends, etc.). They can then see what factors may be impacting device use and use this data to ensure optimal usage, sparing extraneous costs.

3. Examine Utilization Rates to Avoid Waste

The use of QR codes and RFID tags opens up the door to real-time locating systems. These tracking systems can be used to find equipment accurately and quickly in the present and further to inform supply chain analytics in the future. RTLS implementation allows healthcare systems to not only streamline equipment utilization but also improve patient flow.

For example, supply chain teams regularly issue extraneous purchase orders for moveable medical equipment, MME, due to poor visibility. Often, MME is sitting idle and readily available – but forgotten or lost in the shuffle. This is especially true of the larger hospital organization. Utilization data can be leveraged to avoid needless equipment rentals and purchases.

4. Promote Clinical Engagement

Healthcare professionals are on the front lines of patient care in any organization, be it a private clinic or a public hospital. These experts are often a fantastic resource for identifying points of waste in the supply chain. They can also provide insights into how to standardize product usage best and prioritize products. Gathering feedback from clinicians further helps to establish trust within the supply chain.

In addition to asking healthcare professionals for their input, it is also essential to provide them with the education they need to use resources optimally. Adequate training can help encourage good habits and discourage bad ones – such as unnecessary hoarding of supplies. A physician leadership program is one helpful way to raise awareness and provide actionable advice at the ground level.

5. Reconfigure to Need-Based Ordering

Poor inventory management can result in excess or expired stock. This is a financial drain on hospitals and poses a potential risk to patients (in the worst-case scenario that an expired item is used). Instead of simply filling supply rooms, hospital management must shift to a need-based ordering system.

The technologies described above, like QR codes and RTLS systems, can help in this regard. For example, advanced inventory management systems will automatically send a digital alert when the amount of a select product falls below a certain level, ensuring there is enough lead time to order fresh supplies. Such systems can even be configured to automate ordering from suppliers.

6. Understand Costs to Ensure Effective Pricing

Healthcare providers who fully understand costs can ensure effective pricing. For example, a cost-accounting system can be used to break down the cost of each service based on supplies and human resources used.

Many hospitals lack the requisite accounting methods to determine details like Medicare cost allocation or cost-to-charge ratio accurately. However, this data is integral to a smoothly running pricing system. Knowing the cost-to-charge relationship at the level of patient care will promote better investment in tools overall, creating more value for both the hospital and the patient.

7. Reexamine Suppliers Relationships

Supplier relationships are never set in stone – at least, they should not be. Suppliers and hospitals alike should revisit vendor contracts regularly. As hospital managers gather data about supply chain management using the tools and processes described above, they may find that they must adapt their ordering. For example, consolidating contracts and suppliers can be one way to save.

Stay Up to Date on the Latest Healthcare Supply Challenges

Share Moving Media helps healthcare distributors like yourself keep track of the latest news in the healthcare market, providing the competitive edge needed to increase market share. We can further help you connect with your target audience with our comprehensive healthcare marketing and content services.

We are a full-service media agency, producing everything from traditional print publications to podcasts, webinars, and more. We cater specifically to suppliers and distributors in the healthcare and medical fields. Visit the Share Moving Media blog for more actionable content.

Contact us to learn how we can boost your business.

Filed Under: Blog, Marketing Minute, Uncategorized Tagged With: hospital supply chain, hospital supply chain management tips, supply chain management

  • « Previous Page
  • 1
  • …
  • 28
  • 29
  • 30
  • 31
  • 32
  • …
  • 45
  • Next Page »

Subscribe to Marketing Minute

©2023 Share Moving Media, LLC
Log in