The Curious Case of Medical Devices
There is a constant debate on whether a good salesperson is born or made – and whether
selling is an art or a science. At DRAUP, we believe that sales is pure science and
a good salesperson is made! The science of selling is mostly about making the right
decisions – what leads to pursue, when to pursue, how to pursue them and how to micro-target
a lead. We’ve been working on enabling our platform users to make all their sales
decisions driven primarily by data and thus improving the odds of that decision creating
high value.
Over the last few months in the DRAUP journey, the support and feedback that we’ve received
from you has been overwhelming. We’ve taken a leaf out of Brian Chesky’s
playbook and placed you at the center of our company. Your feedback keeps us
inspired and helps us define our roadmap. We hope to keep the conversations going
through these newsletters.
– Hardik Tiwari, Products at DRAUP
The 8-o-8 Meetings: Driving Purpose-led Discussions
Last year, our team cumulatively attended and/or hosted 72 round tables and our learnings
from all those RTs were that the traditional round table conferences are passé!
Participants usually come in with an agenda making it very goal-oriented, leaving little to no room for offbeat discussions. Most participants are reluctant to part with
information and all in all, it makes for a very formal (read: uncomfortable) environment
to be in.So, we came up with the ‘8-o-8’ breakfast meetings which are an invite-only
informal ‘meeting-of-the-minds’ to discuss industry trends and to understand where
the opportunities lie. We thought of calling it the ‘8-o-8’ since we host these meetings
at 8 a.m. and typically invite around 8 participants.
Our recently concluded breakfast event held in Chicago with leaders from the medical
devices industry yielded some promising information. The participants included:
| Company | Designation |
|---|---|
| Siemens | Senior Director, Strategy |
| Baxter | Vice President, R&D and Innovation |
| Fresenius | VP Global Functions, R&D and Quality IT |
| Healthcare | Technology and Innovation Chief IT Architect |
The 8-o-8 Meetings: Driving Purpose-led Discussions
- Medical devices companies are looking to expand boundaries and break free from just tracking and monitoring to aggressively get into cardiology, oncology, etc.
- The R&D budgets for these expansions are minimal and companies are under constant pressure to get more for the dollar. This can drive them to ramp up globalization and outsourcing efforts.
- The FDA recently allowed third-party service providers to handle data surrounding medical devices. This ruling can have a hugely positive impact on service providers.
- Google is increasingly seen as an emerging competitor. Through its Verily subsidiary, Google is applying AI to disease detection, new data infrastructure and potentially enter medical insurance.
- ML and AI talent, that understand the domain, is extremely limited.
This is our second 8-o-8 conference in as many weeks. The next one is scheduled to take place in the Bay Area on the 7th of June. To know more about these events, look out for upcoming editions of our newsletter.
