Customer Relationship Strategies in Medical Device & Diagnostic Industry

Customer Relationship Strategies in Medical Device & Diagnostic Industry - Role of CRM and Knowledge Management

Product Type: Market Research Report
Published by: HBS Consulting
Published: December 2005
Product Code: R503-36

Description

This HBS Consulting strategy review “Customer Relationship Strategies in Medical Device and Diagnostic Industry - Role of CRM and Knowledge Management ” will be of particular value to business development, marketing and top-line corporate personnel in the medical device and diagnostics industry. The report provide value, illustrating as it does with regularity throughout how not only the major medical device manufacturers but also middle-tier and smaller players manage these knowledge and customer relationship strategies to garner positive competitive advantage.

This HBS Consulting Strategy Review combines a primary and secondary research process to describe how medical device companies are using knowledge and relationship management strategies to better

identify up-sell and cross-sell opportunities,
identify partnership and collaborative agreements for new product development
identify creation of profit from interaction with key opinion leaders and influencers
realise increased collaboration with distributors to promote channel efficiencies
create more highly trained, motivated and pro-active sales forces
apply customer segmentation strategies to positively impact the bottom line and
manage employee knowledge to drive innovation

A number of case studies in the Review highlight :

how companies have used the results from information received through knowledge and customer relationship management strategies to achieve cost savings
increased revenue generation by integrating customer relationship management with better customer segmentation
the approach taken to achieve these end goals

Table of Contents

1) EXECUTIVE SUMMARY

1.1) Current Technologies and Process Concepts

1.2) Assessing the Benefits of CRM in the Medical Technology Sector

2) Introduction

2.1) Customer Lifetime Value..

2.2) Knowledge is power. The interplay between Knowledge Management (KM), Customer Knowledge Management (CKM), Customer Relationship Management (CKM) and Business Intelligence (BI)?

2.2.1) Customer Relationship Management (CRM)

2.2.2) Knowledge Management (KM)

2.2.2.1) Prosumerism

2.2.2.2) Team-based co-learning

2.2.2.3) Mutual innovation

2.2.2.4) Communities of Practice

2.2.2.5) Joint IP/ownership

2.2.2.6) Customer Knowledge

2.2.2.7) Customer Knowledge Management

2.2.2.8) Business Intelligence (BI)

2.2.2.9) Competitive Intelligence

2.2.2.10) Technology and Product Development Intelligence (TPDI)

2.3) CUSTOMER SEGMENTATION

3) Implementing and Assessing CRM in the Medical Technology Sector

3.1) Implementing a CRM Strategy in the Medical Technology Sector

3.2) Determine Organisational Goals & Create Realistic Objectives

3.3) Identification of Budgetary Requirements

3.5) CRM Solution Vendor Sel

3.6) Types of CRM

3.6.1) Hosted CRM

3.6.2) Hybrid CRM

3.6.3) Modular CRM

3.6.4) Vertical CRM

3.7) Barriers to Implementing CRM

3.8) Case Study: Cardinal Healthcare

3.9) Case Study: KaVo Dental GmbH

3.10) Case Study: Lake Region Manufacturing, Inc

4) Knowledge and Relationship Management Solutions in the Medical Device Industry

4.1) CRM in Healthcare - Information About the Customer

4.2) Medical Devices and Rationale for CRM

4.3) CRM Applications in Small, Medium and Large Enterprises

4.4) CRM and Medical Devices & Instruments

Communicating product value

Persistent Scepticism Can Delay Implementation of CRM

4.4.1) Driving innovation through a mix of customer knowledge management, CRM and KM - a case example featuring Cordis Corporation

4.4.1.1) Interview planning

4.4.1.2) Data gathering

4.4.1.3) Organising and ranking outcomes-based data

4.4.1.4) Using outcomes-based measurement to re-ignite the innovation process.

4.4.2) St JUDE MEDICAL

4.4.3) CONCEPTUS

4.5) CRM and Medical Equipment & Systems

4.5.1) Hill Rom - The role of customer segmentation in creating business value.

Building a customer segmentation model

Remedial action

Results

4.5.2) The role of relationship management in shaping the sales strategies of diagnostic imaging companies

4.5.2.1) Siemens Medical Systems

Siemens Medical Systems - Reorganising sales and service

4.5.2.2) Varian Medical Systems

4.5.2.3) Elekta AB

4.6) CRM and Medical Supplies & Distribution

4.6.1) B Braun Medical UK Ltd

4.6.2) Paul Hartmann

4.6.3) Tyco Healthcare (France).

4.6.4) Fresenius Medical Care

4.7) CRM and Medical Diagnostic Systems

4.7.1) Case Example: Biosite Incorporated

5) Corporate Culture and Relationship Management

5.1) Implementing Corporate Culture Change

5.2) Creativity and Corporate Culture

5.3) Difficulties in Changing Corporate Culture:

5.4) Rapid Change Process in Corporate Culture

5.5) Corporate Culture Change and Philips Medical Systems (PMS)

5.6) CRM Implementation and Culture Change at B Braun Medical Ltd

6) Utilizing Customer input to achieve the End-Goal of Product/Service Innovation

6.1) Stimulating Creativity……..Fostering Innovation

6.2) Strategies for Sustained Innovation

6.3) Characteristics of Innovative Companies and CRM Opinion Leaders as an Important Source of Novel Product and Service Concepts

6.4) Innovation in the orthopaedic industry

6.5) Creating Breakthrough Innovations Through Opinion Leaders and Centres of Excellence

6.6) Creative Clustering

7) Conclusions and Recommendations

7.1) First Mover no longer an advantage

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