Lessons from the Amazon Playbook Applied in Surgery

Creating a More Value-Driven Surgical Marketplace

During a recent meeting I had with an executive in the spine space, the topic of discussion gravitated towards the growing trend of commoditizing medical device sales. This phenomenon, which is becoming increasingly evident across various specialties, is propelled by factors including the downturn in the healthcare economy, escalating surgeon burnout, and a shrinking surgical workforce. Consequently, surgeons and their surgery centers are meticulously scrutinizing their expenditures and are in search of heightened value from their affiliations with medical device corporations. Companies that fail to augment their value proposition risk relegating their products to a pure cost discussion—a precarious position for many entities in this space.

How to Prevent Price Competition: Think Value Not Features

While Amazon may not consistently offer the best prices, their extensive and varied product selection, effortless 'Buy Now' options, and rapid 1-2 day delivery guarantee undoubtedly set them apart. But there’s more — they facilitate a seamless process for suppliers to fulfill orders, setting unmatched standards in the consumer marketplace. This level of convenience and efficiency is so compelling that patients now desire a similar, ‘Amazon-like’ experience in their online healthcare interactions. They crave convenience, a wide range of choices, and the ability to schedule appointments instantaneously.

Like Amazon, the value you bring to your surgeon needs to go beyond product features and instead help them meet consumer expectations and better compete in the market.

To prevent your medical device from exclusively competing on price, it is paramount for companies to consider how they can extend both enhanced financial value to surgeons and elevate care for the patients they treat. This calls for an immediate shift towards consumer-centric strategies, mirroring the success blueprint exemplified by digital giants like Amazon. As we transition into the fourth quarter of 2023 and commence planning for the first quarter of 2024, it is essential for surgeons and medical device manufacturers to fortify their collaboration. Successful partnerships should seek deeper comprehension of patient behaviors and needs. They should also nurture relationships that transcend mere order filling. Building value into partnerships is a crucial strategy to help counter commoditizing your medical device sales moving forward.

How to Prevent Price Competition: Think Patient Care Not Market Share

It is worth noting that organizations like Amazon have excelled in delivering tailored experiences by harnessing granular insights gleaned from consumer behavior analytics. In contrast, the surgical field seems trapped in an outdated paradigm where surgeons and medical device corporations, perhaps unintentionally, prioritize their own constraints over the needs of the patients they serve. Solutions are now available that are not hindered by the typical objections commonly encountered in administrative and legal discussions; indeed, change is essential. 

In today’s evolving healthcare landscape, consumers diversify their engagements across a variety of service providers, sometimes even opting for competing ones. Therefore, there is an imperative to adopt a decentralized patient engagement strategy. This urgent need will require a paradigm shift for many medical device companies and surgeons alike, adjusting their growth strategies away from a sole focus on market share capture, to move towards fostering authentic, insightful, and mutually beneficial patient engagements.

How to Create Value in Surgery: Understand the Challenges

I. Tackling Workforce Shortages with Innovation

Acknowledging the glaring workforce shortage is crucial for both surgeon and medical device. The deficit makes scalable care delivery immensely challenging, underscoring the need for innovative and convenient options for patients at the end of the value chain.

The objective is straightforward: bring innovative medical devices and surgeons closer to the consumers, ensuring sustained and meaningful engagement and growth.

II. Bridging the Data Gap: Towards Informed and Consensual Patient Engagement

The Need for Data-Driven Engagement   Sustainable surgical growth demands a deeper understanding of who the patients are, where they come from, and their unique preferences. Unfortunately, the existing data surgeons have about their patients is often limited, transactional, and sourced from Electronic Health Records (EHRs). EHRs were never meant to be used for business planning and they offer limited ability to engage high-value patients without friction. Unfortunately, their limited functionality also offers a shaky foundation for building strong relationships, with patients often "falling off the radar" after periods of inactivity.

Consent and Compliance in Data Collection   A new era is upon us where you won’t be able to use Google to solve the patient engagement gap. Hospital systems, medical device websites, and eventually practitioner websites, will need to decommission patient tracking through Google Analytics. It's not HIPAA compliant. On the flip side, just collecting data also necessitates responsible and compliant practices, respecting patients' privacy and abiding by international legal standards. Our patent-pending software, rigorously tested with over 10,000 surgical patients, is designed to bridge this data gap responsibly. By using proprietary tracking methods coupled with patient consent, we facilitate a deeper understanding of patient behaviors and preferences, all while ensuring compliance and responsible data usage.

How to Create Value in Surgery: The Magic of Effective Engagement

When surgeons and medical device companies unlock the power of deep knowledge about their patients, transformative engagement strategies emerge. This isn't a novel concept; it's a page out of the playbook of successful consumer brands that have been engaging their users effectively for years. It is high time for healthcare providers and medical device companies to commit to understanding their true customer - patients - more deeply and engaging them more effectively.

How to Create Value in Surgery: Democratizing Innovative Care

As we envision a future where every patient takes a conversant healthcare journey that is personalized, convenient, and respectful of their person - the need for surgeons and medical device companies to commit to this level of understanding and engagement has never been more critical. Together, we can create an ecosystem where data-driven insights fuel personalized and efficient patient engagement, setting the stage for a new era of healthcare that is responsible and revolutionary.

By investing in these innovations, we are not just improving the interface between patients and providers; we are actively participating in crafting a future where access to innovative care is democratized, and health equity is a reality for all. Let’s champion the movement to reform the surgical space, creating a healthcare experience that truly understands and caters to its patients.

Fire up!