Podcast Peep Show – Smart Medical Sales Podcast with Saul Marquez

Since his first podcast, I was hooked on Saul Marquez’s interview style and the quick 30-minute format.  This week I was a guest on Saul’s Smart Medical Sales podcast where we talked about the keys to a successful, lucrative and rewarding Healthcare Sales career.

One of my go-to questions when meeting someone I’m trying to emulate is “what podcasts do you listen to?”  Here’s a peep into one of my favorite Healthcare Sales podcasts.  If you are a Medical Device Professional, you must subscribe to this podcast.

Smart Medical Podcast Interview Links

Podcast Interview Description

The Smart Medical Sales podcast is designed to provide listeners with the tips, tricks, and secrets to breaking into medical device sales. The medical device sales industry is a small niche of sales where you can make a very handsome living. By tuning into the show, you will be able to listen to helpful advice from Saul Marquez, a medical device sales professional who broke into medical device sales from the outside. The show will have theme based episodes as well as interviews so you can get on the fast track into medical device sales! Tune in to take your career and life to the next level!

 

Why PHI is 10 Times More Valuable Than a SSN on the Black Market

When you think of a hacker, you probably picture an un-showered, fat guy sitting in his parent’s basement trying to access your bank account.

But things have changed!

The days of the lone wolf bank account hacker are over. Yesterday’s bush league hackers have become today’s slick cyber criminals, and they are working together to wreak havoc on healthcare companies.

There are entire organizations devoted to running healthcare phishing, malware, and ransomware scams to get past cyber security systems and infiltrate personal health information (PHI). These groups have legit business models and they have the resources to determine if it’s worth the cost and time to access an organization’s data.

This model is working so well that cyber attacks in healthcare are on the rise in a major way. In 2016, 93 major cyberattacks hit healthcare organizations, up from 57 in 2015. A study by Redspin found that healthcare cyber attacks resulting in data breaches increased 320% from 2015 to 2016.

Why is Healthcare So Attractive to Hackers?

Well, turns out PHI is worth a pretty penny. In 2014, the FBI warned healthcare organizations that personal health data is worth 10 times the amount of personal credit card data on the black market. The data for sale includes names, birth dates, policy numbers, diagnosis codes and billing information.

People buy this information and use it to create fake IDs to buy medical equipment or drugs that can be resold on the street. They also combine patient numbers with false provider numbers to file fake claims with insurers.

It can take providers or patients years to spot healthcare identity theft, giving criminals plenty of time to milk that information for as much cash as possible. In general, banks spot credit card fraud early on and freeze accounts, making credit card and financial data much less desirable.

On top of that, healthcare is – once again – behind the times when it comes to data safety. Most healthcare organizations use outdated computer systems that are easy to hack. Plus, new healthcare technology changes so quickly that security measures can’t keep up.

The cost of a data breach is not cheap. A 2016 study found that a data breach costs about $355 for every single stolen patient record. The average total cost of a data breach is about $4 million. That means it’s worth the upfront cost to invest in a security strategy that will keep data safe.

How Can Healthcare Organizations Keep Data Safe?

Cyber criminal rings run like a legit business. They take a look at the ROI before hacking a healthcare system to determine if the resulting payoff will be worth the time and energy it takes to steal PHI. If healthcare companies have strong security measures in place, they are less likely to get targeted.

There are a few measures all healthcare organizations can take to keep information safer. And, trust me, this applies to everyone. That means hospitals, doctor’s offices, surgeon’s offices, insurance companies – any type of organization that houses patient data – YOU!

As Healthcare Sales Professional, we come in contact with patient information every day. Some of us even have access to and store this data on our devices.

Here are a few things our customers should be implementing or contemplating implementing:

  1. Protect email accounts. Healthcare providers should use a tool that scans incoming email messages in real time in order to spot suspicious messages and filter them out before someone clicks a phishing link. On top of that, every employee should be aware of suspicious emails. If something seems a little “off,” they should know how to report it right away.
  1. Speaking of reporting…for the love of God, everyone needs some sort of security software or service in place. This is something that can be outsourced to a company or handled with healthcare security software. Tip: Be the kind of rockstar Medical Sales Rep who can recommend a way to handle this and talk about the pros and cons to different solutions.
  1. Back up your data regularly. This is one of the most important parts of a good cyber security strategy. If an organization has good back-up data, they don’t have to shell out millions to decrypt information and get that data back.
  1. Keep an eye on mobile. If staff members will be accessing data on a mobile device, healthcare providers should consider restricting access to critical data and systems. At the very least, they should invest in a centrally-controlled system so mobile devices can be wiped clean if they are stolen or compromised.

Why Should Healthcare Sales Professionals Care About Cyber Security?

In previous posts, we talked about questions that signal your investment in your customers business.

One of those questions is “how are you preparing for your first cyber attack?” Combined with the tips listed above will elevate you above the competition by demonstrating your more that just a “sales guy/gal”.

Do yourself a favor and ask your company how customer data is secured. If a clear plan is missing, be an advocate for your customers by pushing for improvements.

How to Navigate 2017 Healthcare Trends – Build New Solutions

Part 3 of 3

We are two full months into 2017, and it’s time to wrap up this series on 2017 healthcare trends and the impact to Healthcare Sales Professionals.

But first, let’s recap.

If you’ve been paying attention to the industry the past few years, you know that we’ve been talking about value-based care for a long time.

Too long.

But this will be the year that value-based care really hits the market.

How do I know that? I don’t. I’m not smart. I just read a lot of really smart people’s stuff and simplify it for you. This is how I learn.

I digress.

But, lots of research says 2017 is the year of value-based care. There are a few other signs pointing to the stickiness of the value-based bandwagon…

Thank You Thursday

Here are few things that I’ve found valuable this month and thought you may appreciate them too.
  • Book I finished:  Will you put the next 10 patients on my drug?  Punch me in the face.  Our companies spend millions of dollars on product training.  And…completely miss on closing skills.  I just finished James Muir’s new book The Perfect Close and incorporated his simple 2-step close into my routine.  James’ non-threatening and very effective close is the last one you will ever need.  For $2.99 on Kindle, you’d be foolish not to buy it.

  • Podcast I binge listened:  2017 is the year to elevate your presentation skills.  Michael Port’s Steal the Show Podcast offers a fast track to the skill set that will enable you to engage your listeners, manage your nerves, and give your message maximum impact in every situation.
  • Ah-ha moment:  Have you ever rented a car and pulled up to pump only to realize the gas cap is on the other side of the car?  Mathematically you have a 50/50 chance but – I feel like Cincinnati Reds Bill Bergen.  A detail-oriented colleague recently pointed out the arrow next to the fuel gauge indicating the gas cap location.  Well I’ll be darned.
  • I need your help:  I’m working on a big project and could use your input.  What is the hardest part of your job as a sales person?  What keeps you up at night?  Why don’t you jump out of bed in the morning?  If you reply to the email and share your heartaches and headaches with me, I’ll respond and let you in on this secret project.

How to Navigate 2017 Healthcare Trends – Innovate for Value

Part 2 of 3

If you’ve been paying attention to political news at all, you know that healthcare is under the microscope, big time. Or “big-league” according to President Twitter.

To help you navigate the 2017 healthcare trends and the “you-ja” changes coming our way when Obamacare/ACA is repealed, this is my second post about how to add value as a healthcare sales professional.

How to Navigate 2017 Healthcare Trends – Adapting for Value

Part 1 of 3

All this political insanity is making our jobs really difficult. With all the jargon, acronyms and ill-defined buzzwords – how are we supposed to set our sales strategy while facing such uncertainty? If you’ve been wondering how to handle the changes and challenges as a Healthcare Sales Professional, you’re not alone.

Here are some of the questions you’ve asked me and I’ve been asking myself:

  1. What the hell is going on?
  2. Is the Affordable Care Act being repealed/replaced? With what?
  3. What will happen to the uninsured patients?
  4. With all this talk about “value-based care”, how do I create “value” for my customers?
  5. When will they take away his Twitter account?
  6. What are we supposed to protest this week?

For starters, yeah, the ACA/Obamacare is going out the window. No matter what side of the aisle you sit, improvements will be made. But, some fallout is inevitable and the politicians will argue like my daughters bicker over the last cookie.

How to Keep Your Prospecting Emails Out of the Trashcan

In a previous post, I proclaimed email is the devil.  I’m shocked how many people responded pledging 2017 the year to wean themselves off the email teat.

(Yes – I see the irony of a guy who sends a weekly email to you claiming that email is Satan.)

I do hate email though.  It’s been bastardized in large corporations filled with people who equate sending an email to accomplishing a goal or task.

I HATE, HATE, HATE email.

Thank You Thursday

Here are few things that I’ve found valuable this month and thought you may appreciate them too…

  • Giveaway Winner:  Last month I launched my first giveaway to thank you for being a subscriber.  I’m excited to announce Dan D was the big winner (here’s a video of the drawing).  I will continue to run giveaways every month with products from partner companies.  Here is this months $299 giveaway.  Remember, you receive 5 additional entries for every person you share the link with…send it to 5 friends, you’re entered 25 times.

  • Favorite Christmas gift:  The greatest investment you can make, is in YOU. The most cost effective investment you can make, is in books. But who has time to read? ReadItFor.me is video Cliff’s Notes. Each 8’ish minute overview includes a video, audio and text synopsis of the world’s best selling business and self-improvement books.  I tested the ReadItForMe freemium waters for a year before being gifted a lifetime subscription.  Here’s a FREE 30 day trial for JJC subscribers.  HINT – Check out this month’s giveaway.
  • Travel product of the month:  You pony up the $100 for TSA Pre-Check. As you enter security, you’re instructed to leave your jackets, belts and shoes on – you confidently stroll through the metal sector…BEEP, BEEP, BEEP. The mumbling TSA agent tells you to remove your shoes in broken english. Damn metal shanks! I recently found Mezlan shoes and quickly bought 2 additional pairs. These shankless shoes break in the first day and are compliment grabbers (some are a bit gaudy). While not cheap, I’ve been able to find them half price at Nordstrom Rack.
  • Book I’m reading:  Tim Ferriss is renowned for his podcast interviews with the titans of health, wealth and wisdom.  In his latest best seller, Tools of Titans, he distills the tactics, routines, and habits of billionaires, icons, and world-class performers into easy to read bit sized chunks.  This 704 page behemoth is intentionally unavailable in audio to encourage readers to use it as a reference guide.  While I finished reading it this weekend, it will be a permanent fixture on my desk and re-read often.

If you find this gibberish valuable, it would mean a lot if you forward this to your counterparts and encourage them to sign up.

4 Sales Trends That Will Determine Your Success in 2017

Judging by the feedback I’ve received over the last few weeks – you are ready to have your best year ever.

Success as a Healthcare Sales Professional starts with a lot of planning. Part of that planning is keeping a close eye on sales trends and the healthcare market.

Why staying up with sales trends is important in healthcare sales…

This past Saturday morning, I met with an ex-pharmaceutical representative of 20+ years.  Let’s call him Frank.

Frank was struggling to get back into the industry after a round of layoffs pushed him out nearly 2 years ago.  We had been introduced through a mutual connection who asked if I could help Frank out.

Two minutes into the conversation, I realized why Frank had struggled to land a gig despite decades of experience and solid results.

I asked Frank how we both worked in Nashville Oncology market for so many years and never crossed paths.  His eyebrows raised in confusion.

I asked if his experiences at Novartis aligned with what I saw during my 6-month stint with the company. He tilted his head to the side – dumbfounded.

I asked if he liked living in New Jersey during a past assignment at corporate headquarters.  He squinted his eyes in disbelief.

I watched as Frank tried to figure out how I knew so much about him.

When I finally asked, what I could do to help him – his replied “I don’t know who you are or what you do.”

The Marriott Mess Up – When to Delight and When to Sell

Just to be clear, I love the Marriott hotel chain.  However, I couldn’t help tell this story and how it relates to our lives in healthcare sales…

I’m a Jersey boy who has lived in Nashville for the past 11 years.  Growing up – we rang in the New Year by watching the New York City ball drop.

So when I moved to the central time zone, New Years Eve hasn’t been the same because you have to watch the New York City ball drop at 11PM CST.

a-time-to-delight-and-a-time-to-sell

This year was going to be different. I was spending New Years Eve at the Marriott in Marco Island Florida.  I was eagerly anticipating a real-time ball drop.

(Yes I stayed up waaaaaaaay past my 8:00pm bedtime.)

So when we arrived at the Marriott, I was pumped to hear the hotel was planning a celebratory bash.  In an effort to keep guests on campus and spending money, they were bringing in a DJ, huge outdoor dance floor, AND big screens broadcasting the NYC Times Square festivities.