New Partners & Simons Survey: Trust Drives Net Promoter Score and Net Promoter Score Drives Medtech Growth
New research from Partners & Simons tells us that hospitals are seeking medtech partners who can help them as they transform the way they deliver care. Accountable care is here to stay which means hospital administrators are taking a more hands on role in product selection, moving beyond features and benefits and hard costs. The shift is underway and it’s focused on real world outcomes. They are looking for medtech partners to help them change processes, train its staff, and provide ongoing support to ensure real world outcomes are achieved.
We conducted proprietary research with key decision makers across a variety of healthcare settings to assess how healthcare reform has impacted medical technology purchasing decisions and how medtech companies can differentiate themselves in a market that is shifting to value-based care. Survey responses came from 60 senior-level members in hospital administration. More than 50 percent were C-suite level executives, and the remaining respondents were senior level, decision-making physicians and other high-level care administrators, including department heads, directors and VPs.
Despite a climate of uncertainty and possible changes to the Affordable Care Act, value-based care has been widely adopted and will live on. As organizations need to improve operational and cost efficiencies, hospital executives are looking beyond a single product to an end-to-end solution that enables effective communication and timely action across all departments.
Accordingly, research shows that purchasing decision makers and influencers ranked the total delivered value of a product, over its hard cost, as the most important factor in deciding on a medtech purchase. By some estimates, the scope of working with providers to address these tasks presents a $44 billion beyond-the-product opportunity U.S. medtech companies.
To help customers along the purchase journey, our research reveals that key decision makers rely on medical suppliers as the most trusted and influential sources of recommendation, ranking higher than sales reps, websites like WebMD or trade journals and magazines.
Based on these insights, medtech brands can help providers meet their value-based care goals by:
- Delivering value without compromise by providing real-world results in the areas of improved outcomes and efficiency or reduced “never events.”
- Thinking beyond the product by providing an integrated solution with seamless onboarding, comprehensive support, and educational training programs.
- Building customer trust by demonstrating ability, integrity, and benevolence.
Our 2015 Trust Driver Benchmark Survey shows a high correlation between trust and a customer’s overall satisfaction, loyalty and willingness to recommend a brand. Medtech companies who earn customers’ trust and nurture long-term relationships can realize better business outcomes and greater product adoption by at least a factor of two.
Download our new whitepaper to learn more about the ways medical device companies can earn the trust of provider organizations to drive growth in the face of healthcare reform.
Founded in 1989, Partners & Simons is a brand communications and integrated marketing services firm with deep domain expertise in healthcare and financial services that creates communications to help people make the most important decisions in their lives. Fluent in digital and traditional communications – from online, mobile, and social media to direct mail, print, outdoor and broadcast advertising – the firm creates integrated marketing programs that connect with consumers and business-to-business buyers in meaningful, measurable ways.