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The Rise of the Next Generation of Medtech “Milkmen”
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The Rise of the Next Generation of Medtech “Milkmen”

Götz Gerecke, Basir Mustaghni, Vikram Aggarwal, Can Schnigula and Laurent Storme
Boston Consulting Group, 2021
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Editorial Rating

8

Qualities

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  • Applicable
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Recommendation

The Boston Consulting Group completed studies assessing medtech commercial models in 2013 and 2017, concluding that the industry’s habit of sending representatives on frequent in-person sales visits was unsustainable and high cost, but improvable through digital means. Their most recent follow-up study involved 200 interviews and surveys of over 8,500 medtech employees in Japan, Europe, the United States and the BRIC countries. Results indicate six “next-generation design pivots” that innovative medtech companies should pursue in the name of a next-generation commercial model.

Take-Aways

  • The foundation of traditional medtech sales is costly in-person sales calls. An omnichannel commercial model can increase efficiency and reduce costs.
  • To create an omnichannel commercial model, envision a new customer journey, prioritize digital marketing and embrace bionic sales.
  • An omnichannel commercial model focuses on making customers successful, adopts an agile approach and steadily builds a digital infrastructure.

About the Authors

Götz Gerecke, Basir Mustaghni, Vikram Aggarwal and Can Schnigula are professionals with the Boston Consulting Group. Laurent Storme is a BCG alumnus and a strategic commercial senior director at Johnson & Johnson.

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