How can you negotiate with a hospital that has limited understanding of your product or service?

1 Identify your stakeholders

Before you start negotiating, you need to know who you are dealing with. Hospitals often have multiple layers of authority and influence, such as physicians, administrators, procurement officers, and end-users. You need to identify who are the key decision-makers, who are the gatekeepers, and who are the allies. You also need to understand their roles, goals, pain points, and preferences. This will help you tailor your pitch, build rapport, and address objections.

3 Negotiate value, not price

Hospitals are often under pressure to reduce expenses and optimize resources, so they may be reluctant to invest in a new product or service that they are not familiar with. However, you should not let price be the main focus of your negotiation. Instead, you should emphasize the value of your solution and how it can generate a positive return on investment, save time and money, or create a competitive advantage. You should also highlight the risks and costs of not adopting your solution, such as losing market share, compromising quality, or facing legal issues.

4 Handle objections and concerns

Even if you have educated your prospects and negotiated value, you may still encounter some objections and concerns from the hospital. These may include questions about the quality, safety, compatibility, or reliability of your product or service, or doubts about the credibility, reputation, or support of your company. You need to be prepared to handle these objections and concerns with confidence and clarity. You can use techniques such as acknowledging, probing, reframing, or resolving to address them.

5 Leverage your competitive edge

Another challenge you may face when negotiating with a hospital is the presence of competitors who may offer similar or cheaper products or services. You need to differentiate yourself from them and show why your solution is the best option for the hospital. You can leverage your competitive edge by highlighting your unique features, benefits, or value propositions that your competitors cannot match. You can also use testimonials, referrals, or endorsements from other hospitals or experts to boost your credibility and trustworthiness.

6 Follow up and close the deal

The final step of negotiating with a hospital is to follow up and close the deal. You need to maintain regular communication with your prospects and keep them engaged and interested in your solution. You also need to monitor the progress of the decision-making process and overcome any delays or obstacles that may arise. You can use tools such as proposals, contracts, or incentives to facilitate the closing process. You should also confirm the terms and conditions of the deal and celebrate the success with your prospects.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?