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What are the most effective ways to communicate value to payers and providers?

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If you work in sales, you know how important it is to communicate the value of your product or service to your potential customers. But when your customers are payers and providers in the healthcare industry, the challenge becomes even greater. You need to understand their needs, preferences, and decision-making processes, and tailor your message accordingly. In this article, we will explore some of the most effective ways to communicate value to payers and providers, and how to overcome common barriers and objections.

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Himanshu Patel CBE, PgMP?, PMP?, PRINCE2? Practitioner

Low code | No code | Digital Enabler | Integration | Data Enthusiastic | Enterprise Sales Leader | General Management

1 Know your audience

Before you can communicate value, you need to know who you are talking to. Payers and providers are not a homogeneous group, but have different roles, goals, and perspectives. For example, payers may be more interested in the cost-effectiveness, budget impact, and quality outcomes of your product, while providers may focus on the clinical evidence, patient satisfaction, and ease of use. Therefore, you need to do your research and segment your audience according to their characteristics, needs, and expectations. This will help you craft a value proposition that resonates with each segment and addresses their specific pain points.

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2 Use a value framework

A value framework is a tool that helps you structure and present your value proposition in a clear and compelling way. It consists of four elements: the problem, the solution, the benefits, and the evidence. The problem is the unmet need or challenge that your audience faces. The solution is how your product or service solves that problem. The benefits are the positive outcomes and advantages that your solution delivers. The evidence is the data and facts that support your claims and differentiate your solution from the alternatives. By using a value framework, you can communicate value in a logical and consistent way, and highlight the unique value that you offer.

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Himanshu Patel CBE, PgMP?, PMP?, PRINCE2? Practitioner

Low code | No code | Digital Enabler | Integration | Data Enthusiastic | Enterprise Sales Leader | General Management
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Outcomes Data: Provide concrete data on patient outcomes, cost savings, and quality improvements associated with your product or service. Use clinical studies and real-world evidence to support your claims. Cost-Benefit Analysis: Demonstrate a clear cost-benefit analysis, showing how your solution can reduce overall healthcare costs or improve efficiency in the long run. Patient-Centric Approach: Emphasize how your offering improves patient experience, adherence, and satisfaction, as these factors can impact reimbursement and provider incentives.

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3 Use storytelling and emotion

While facts and data are essential to communicate value, they are not enough to persuade your audience. You also need to use storytelling and emotion to connect with your audience and make your value proposition memorable and impactful. Storytelling is the art of using narratives, anecdotes, and examples to illustrate your value proposition and demonstrate how your solution works in real-life scenarios. Emotion is the ability to appeal to your audience's feelings, motivations, and aspirations, and show how your solution can improve their situation or help them achieve their goals. By using storytelling and emotion, you can engage your audience, build trust and rapport, and motivate them to take action.

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Himanshu Patel CBE, PgMP?, PMP?, PRINCE2? Practitioner

Low code | No code | Digital Enabler | Integration | Data Enthusiastic | Enterprise Sales Leader | General Management
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Clinical Guidelines and Standards: Align your solution with clinical guidelines and industry standards to show that it meets recognized best practices. Peer References: Share success stories and testimonials from other providers who have benefited from your solution. Collaborative Partnerships: Collaborate with healthcare providers and payers to co-create and pilot your solution, gaining their input and buy-in.

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4 Anticipate and address objections

No matter how well you communicate value, you will likely face some objections from your audience. Objections are questions, concerns, or doubts that your audience may have about your solution or your claims. They can be based on rational or emotional factors, such as price, quality, risk, or trust. To overcome objections, you need to anticipate them and prepare your responses in advance. You can use different techniques to address objections, such as acknowledging, empathizing, clarifying, reframing, or providing evidence. The key is to listen actively, understand the root cause of the objection, and provide a satisfactory answer that reinforces your value proposition.

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5 Follow up and follow through

Communicating value is not a one-time event, but an ongoing process that requires follow up and follow through. Follow up is the act of staying in touch with your audience after your initial communication, and providing additional information, support, or incentives to move them closer to a decision. Follow through is the act of delivering on your promises and ensuring that your solution meets or exceeds your audience's expectations. By following up and following through, you can maintain and strengthen your relationship with your audience, and increase your chances of closing the deal and creating loyal customers.

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6 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?

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Himanshu Patel CBE, PgMP?, PMP?, PRINCE2? Practitioner

Low code | No code | Digital Enabler | Integration | Data Enthusiastic | Enterprise Sales Leader | General Management
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Health Economic Models: Develop health economic models that quantify the long-term impact of your solution on healthcare costs and patient outcomes. Regulatory Compliance: Ensure your product or service complies with all relevant regulations and standards to build trust with payers and providers. Clear Communication: Use plain language and visuals to simplify complex information and make it easy for stakeholders to understand the value proposition. Continuous Monitoring and Reporting: Provide ongoing data and performance reports to show the sustained value your solution brings over time. Value-Based Agreements: Explore value-based contracting models where reimbursement is tied to the actual performance and outcomes.

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What are the most effective ways to communicate value to payers and providers?

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2

3

4

5

6

1 Know your audience

2 Use a value framework

3 Use storytelling and emotion

4 Anticipate and address objections

5 Follow up and follow through

6 Here’s what else to consider

Sales

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What are the most effective ways to communicate value to payers and providers?

1

2

3

4

5

6

1 Know your audience

2 Use a value framework

3 Use storytelling and emotion

4 Anticipate and address objections

5 Follow up and follow through

6 Here’s what else to consider

Sales

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