Read time  10 minutes

In this month's newsletter, I share how to pitch your medical device to hospital systems in the context of a department-wide meeting.

Our device had the potential to make a huge impact on women’s health, by reducing the risk of harm to mothers and babies during emergency cesarean sections.

This by no means meant it was an easy sell - we still had to convince clinicians and hospital systems to change their practice and consider using a new device.

I worked with many major hospital systems across the US to introduce our device, and worked through several complex sales cycles.

The sales presentation we developed over the years and used in our initial department meetings was critical to our success in the market.

Below I share key components of a successful sales presentation. It might help you craft your own deck or offer a fresh perspective.

As always, feel free to email me with your thoughts! [email protected]

Building an Impactful Sales Presentation

Getting in front of the right clinicians is critical - the OBGYN department decision makers in our case. Once you have the opportunity to present your product, nothing is more important than the message and how you communicate it.

For us this meant articulating the story behind our product, its clinical value (supported by data), and its financial value (efficiency savings for the hospital).

Often, the best opportunity during the sales cycle comes by way of a department-wide presentation.

Specifically, I'll discuss 10 points below I believe worked for us in building adoption in the US market, prior to our exit just a few years later.

1. Sharing the story behind your device

2. Success of adoption in other markets

3. The clinical problem being addressed

4. Relevant macro level data and trends

5. Introducing your product

6. Key findings from clinical data

7. User data and feedback

8. Cost-benefit analysis

9. Explaining the need for change

10. Preparing for a Q&A

1. Sharing the story behind your device

We always opened with the clinical case behind our device. This meant sharing the tragic case where a baby did not survive a delivery during an emergency CS. The senior obstetrician called in to help had to share this news with the parents. It ultimately led him on a journey to prevent something like this ever happening again.

This powerful background story immediately resonated with clinicians, who had likely been in similar situations previously (perhaps with less disastrous outcomes), and deeply understood the potential complications that can arise.

This story was critical in capturing their attention at the start of the presentation.

Ensure you articulate the story to layout details of the clinical case (if relevant) and why this led to a product being invented.

In my experience in the US market, there was much respect and admiration for a clinician attempting to solve a problem in their field (a rare and challenging feat to take on).

2. History of adoption

Although clinicians in this market might be hearing about your product for the first time, can you reference other markets where the product has been in use for several years? In our case, the UK and ANZ regions were established markets for years before FDA clearance.

By sharing the adoption story globally, this added weight and credibility to our presentation (US clinicians wouldn’t be the first users of our device).

Ultimately, if there was widespread adoption in key markets outside of the US, why would the experience be any different here.

3. Explain the clinical problem being addressed

Assume that clinicians in this meeting are learning about your device for the first time - take them through the clinical case that led to the idea (in sharing your story above) and why this device might have improved outcomes in that case (reduced risk of trauma to the baby, less complications for the mother, reduced time in the OR etc).

As well as explaining the potential clinical benefits for the patient, how might your device make a clinician’s life easier too? Perhaps less strain on the clinician physically, reduced procedure time, efficiency savings , or less chance of litigation if things were to go wrong (relevant in our case).

It’s important here to give a complete picture of the potential impact from a clinical perspective and how a simple device or tool might help address relevant risks.

4. Share macro level data on the clinical problem being addressed

Now that you’ve explained the clinical problem in detail, can you explain how this fits in with the bigger picture? How does this problem fit in with macro trends in women’s health in your specific market?

In our case, we highlighted the lack of adequate maternity care in the US market. More women die from complications of pregnancy and childbirth in the US than in 10 other wealthy countries (according to a study by the Commonwealth Fund). In the US there were 17.4 maternal deaths per 100,000 live births, compared with 6.5 in the UK (our initial home market).

Clinicians would be familiar with such statistics. There will be initiatives already taking place at the state and federal level in addressing these challenges. A medical device that fits into the broader scope of improving outcomes within women’s health would be welcomed by hospital groups, and adds further weight to your presentation.

What wider trends and data can you share that are relevant to your product? Include some of these data points within your sales presentation.

5. Introduce your product

Now that you’ve set the scene, here is a good opportunity to introduce your product for the first time. This would include demonstrating the physical product, how it addresses the clinical problem identified above, and sharing an animation or other visuals that provide a clear picture of how the product works.

When our company was acquired, I spent a year training the national sales teams on our device. One priority as part of this training - we asked sales reps not to show the device until they had explained the background story and extent of the problem. This would ensure clinicians are bought into the wider picture before they see the device itself. The same should apply for a department wide presentation.

During this section you also have an opportunity to demonstrate the product and explain the steps for use, who would be responsible for using the device, and the on-going education support your company will provide.

6. Share the key findings from clinical data

It’s obvious how important clinical evidence is in the commercialisation of your medical device. Every sales professional should have a deep understanding of the clinical data.

You should have confidence explaining how studies were designed, the key parameters, the clinical endpoints being studied, and the significant outcomes identified.

With a strong understanding of clinical data, you will be able to articulate the evidence behind the clinical benefits you’ve highlighted.

Another important point to consider - clinicians will challenge the clinical data. If you’re able to overcome their objections and engage in a productive discussion, you will be well positioned to gain their support and approval during your sales presentation.

7. User data and feedback from the market

Your product might be new to this specific market, but can you reference user data and experience in other markets? Perhaps there are early adopters in this market who’s feedback can be shared during your sales presentation.

Gain permission from clinicians to share their initial feedback and use these snippets of information within your sales presentation.

Once we had a few key reference sites using our device, it added great momentum to our national marketing efforts. Often clinicians we were presenting to would have contacts or friends at these reference sites. They would reach out to them directly to learn about their experience.

Feedback from a colleague or fellow OBGYN is a powerful endorsement of your product. Start gathering user feedback early on so that this can be shared with other hospital groups.

8. What is the cost-benefit impact for the hospital

Being able to articulate the financial as well as clinical value behind your device forms an important part of the sales journey.

Following clinical buy-in, you will often need to work through a Value Analysis Committee - the clinical evidence and cost-benefit analysis form an integral part of this review.

Any guidelines for use or hospital protocols that support the expected utilization will also be of interest. The committee will often be interested in the expected cost of ongoing use, notably in the case of systems with multiple hospitals.

With clinical data available on our device, we were able to build a cost-benefit analysis (resource costs for the hospital could be linked with study outcomes) which demonstrated potential savings, each time a device was used. The reduction in maternal complications could lead to a significant financial benefit for the hospital.

Build a cost-benefit model early in your commercialisation journey and summarise the results in one slide on your sale deck.

It’s inevitable that there will be questions on the price of your product - if you’re able to show that financial savings will more than pay for the cost of the device, you will be well positioned to manage the purchasing committee challenges that might arise.

9. Conclusion and explain the need for change now

As you near the end of the sales presentation, one final slide should provide a summary of why you’re in this meeting presenting your product. Can you sum this up in a few lines? In our case, we highlighted the following:

1. Our device could reduce risk around these clinical challenges

2. Our device fits into national objectives around reducing morbidity during childbirth

3. Our device is effective (clinical data) and efficient (cost-benefit)

4. Our device is easy to use (you will have explained how to use the device during your product demo above)

5. You believe that this device will one day become a standard of care

10. Prepare for a Q&A session following your presentation

Once your presentation is over, the floor will be open for questions. There will likely be many. Be prepared to answer questions on all aspects of your sales presentation - a few examples below:

• Clinical data

• Pricing

• Cost-benefit analysis

• Instructions for use

• Feedback from other clinicians

• Incidence of use

If you’re well prepared, confident in the literature, and able to answer any questions that come your way, you’ll be off to a good start.

Unfortunately, this will just be the starting point in a sometimes long and complex sales cycle when introducing your medical device to a hospital group!

As always, feel free to email me with your thoughts! [email protected]

How can I help you and your business?

OBG Access is a consulting business that provides strategic support for early stage medical device companies in the women’s health space, including commercialisation and international expansion.

We offer access to a large network of key opinion leaders, clinicians, OB decision makers, hospital systems, and distribution partners throughout the US market.

We can develop strategic plans for US market entry and help build a corporate infrastructure for non-US companies entering the market.

We can also provide an objective view on company valuation, prepare your business for an exit, and provide access to potential buyers or strategic partners.

I appreciate you taking the time to read this month’s newsletter. Any questions, comments or feedback, feel free to email me.

Have a great weekend!

Nish Varma

[email protected]

A note on the author - Nish Varma

After several years working in finance, I partnered with my father, an obstetrician who invented a medical device (Fetal Pillow) to solve an important clinical problem in his field (detailed in issue one).

After initially launching into the UK market in 2011, several years later, Fetal Pillow was cleared by the FDA in 2017. We then focused our efforts on bringing Fetal Pillow to the US market.

I spent the next few years building our US business and in early 2021, our company (Safe Obstetric Systems) was acquired by CooperSurgical, a leading global player in Women’s Health. I spent one year post completion working for the company during an earnout period to support the national launch strategy.

It was a 10 year journey to commercialise and bring the product to market - we were able to prove our business model in the US and that garnered interest from some of the key industry players.

This newsletter is a passion project to share some of our journey with others who might be on a similar path.