The healthcare industry has completely transformed because of technological advances in medicine and the supply chain. 

In addition, it saw another drastic change during COVID-19. The purchase behavior of healthcare providers evolved along with the industry to meet the growing demand for telemedicine, value-based technology, and preparedness for future crises.

Here are ten of the ways providers are changing the way they purchase supplies to match the advances in the healthcare industry.

Key Takeaways:

• Emerging technology and COVID-19 are the greatest influencers on today’s healthcare purchasing trends.
• Healthcare providers are seeking value based on data over cost-efficiency.
• Technology is changing the way providers treat patients and manufacturers deliver products.

9 Ways the Purchase Behavior of Healthcare Providers is Changing

Technology and the experience gained from COVID-19 are leading the way for most healthcare changes. Let’s look at ten ways those changes have impacted the purchasing behavior of providers.

1. A Focus on Data-Backed Decisions

The modern world is built on digital tracking and lead nurturing data that businesses acquire. Data availability has helped healthcare providers make more informed decisions when purchasing.

Gone are the days where physicians purchase products that serve them the best or are most affordable. Bruce Johnson, CEO and President of GHX, said that the previous focus on cutting costs had laid the foundation for current initiatives that now focus on quality patient care.

In today’s healthcare market behavior, providers use data to study trends in patient care and responses to find what appeals to their patients. These trends tell them what equipment and supplies have value and what is not necessary.

As manufacturers, you can meet that need by backing your claims with data that gives your device or supplies value.

2. Trust Built through Transparency

Along with value, healthcare providers want more transparency from sales representatives and manufacturers. They can confirm any information you share, so giving fluffy sales pitches will not impress providers. Additionally, 62% of consumers will remain loyal to businesses they trust.

What will catch their interest is a detailed layout of all the costs, including maintenance and upkeep fees, additional equipment they need, and any product weaknesses. When you lay out all the information for providers to examine, they will trust you more, and you have a higher chance of making a sale.

3. Higher Interest in Product Testing

Since healthcare providers want products with value, they often request user testing before investing in new products. This trial period is a way for them to gather data on how the product gives value to the healthcare facility by improving care or cutting costs.

4. Implementation of Standardized Care

Healthcare providers are moving towards standardized care. Standardized care is a time-saving method of using approved standards known to be the most efficient and effective treatment.

By standardizing care, healthcare providers can:

• Cut down on errors
• Provide timely care
• Spend less time trying ineffective treatments
• Cut down on wasteful or inefficient products and processes

When healthcare providers make purchasing decisions, they are more likely to choose products backed by standardized processes rather than experimenting with new devices

5. Supply Tracking Using Technology and AI

Technology has revolutionized the healthcare industry and healthcare buying behavior through modern devices that can diagnose and treat patients with a high level of care. In addition, AI automates data collection, business organization, and supply tracking processes.

AI can keep a log of the supplies each hospital has available. Then, when supplies are low, it will notify the appropriate person or automatically reorder the necessary supplies. This technology helps providers maintain a consistent demand plan and helps streamline the purchasing process with established suppliers.

6. A Demand for Personalized Medicine

Patients who visit healthcare facilities also expect a certain level of care made possible by technology. For example, medicine, products, and implants are not a one-size-fits-all solution. Instead, doctors can scan people using advanced technology and offer solutions specific to their needs. Consequently, patients will often explore different medical facilities based on what each offers.

For hospitals to meet this healthcare consumer trend, they want more options from their suppliers, so they have more to offer their patients.

7. The Adoption of Telehealth and Virtual Care

COVID-19 pushed healthcare providers to adopt new technology into their processes quickly. Telehealth and virtual care implementation was the most significant area where digitization took hold in healthcare. While healthcare providers used to reserve these for emergencies or special cases, they have now become common.

Many patients use telehealth for routine visits and minor care. Additionally, 76% of U.S. hospitals provide a form of telehealth for their patients.

Therefore, healthcare providers are finding ways to provide the necessary tools to support this shift. For example, hospitals are no longer the bridge between manufacturers and patients. Now, many medicines and supplies go directly to private homes. However, not all manufacturers are prepared for commercial shipping.

In addition, healthcare providers need more devices patients can operate remotely. For example, glucose monitors are becoming popular, allowing diabetes patients to monitor their levels continually and remotely send information to their providers through apps.

8. Preparations for Future Crisis

COVID-19 was a wake-up call for many providers who realized they were underprepared to meet the crisis. Now, healthcare providers are reexamining how they stock supplies in preparation for another unpredictable future event.

The implementation of preparedness storage planning means providers are not just purchasing products they need now. They also want supplies for unforeseen future events. For example, one standard for preparedness storage recommends hospitals always have 90 days of PPE inventory in storage.

9. Implementation of Alternative Sales Approaches

Selling medical supplies is becoming increasingly more complex. Instead of sales representatives going to hospitals to sell products, many providers prefer alternative approaches. For example, virtual sales using video conferences and AR product demonstrations are growing in popularity.

Another strategy you can consider is recruiting a healthcare worker as your advocate. In doing this, you strengthen your chances of making a positive impression. Often, an advocate physician will bring your product or device to a board and champion it for you instead of you sending a sales representative to the board.

Meeting the Changes in the Healthcare Industry

Is your company ready to meet these changes in purchasing behavior?

We can help you produce content that will appeal to the modern healthcare provider and promote your products and supplies to solve their current challenges.

Contact us to discuss how we can help with your marketing content needs.