Medical device sales vs. pharmaceutical sales may not seem significantly. However, just knowing your product isn’t enough. The best sales professional has the ability to understand the nuances of selling in each of these fields. Whether you are looking to hire for medical or pharmaceutical sales, it’s essential to understand the differences between the two.
Introduction to Healthcare Sales
Healthcare sales is a broad field that involves selling products, services, and medications to those who will care for patients in some capacity. This is a high-stakes, high-value industry, but it is also one of the most competitive. Those who handle these skills absolutely need to have advanced insights into the technology and science of the products, but they also need core relationship-building skills. And their focus should always be on providing a way to improve patient outcomes.
Medical device sales require hands-on, technical skills, and have a long sales cycle. Pharmaceutical sales, on a broad scope, tend to be more personalized in providing education to physicians in the prescription of drugs for efficacy and clinical benefits. Frequent relationship-building is critical in this area, as well as the need for follow-up and interaction.
There are differences in sales cycles, engagement strategies, and regulatory environments across these areas. Consider what it takes to hire a winning team in either of these areas.
Key Differences in Roles and Responsibilities
When working with sales recruiters, it is important for you to understand the differences between a pharmaceutical sales representative and a medical device sales representative.
There are numerous factors that make medical device sales and pharmaceutical sales significantly different.
- Day-to-day tasks: While pharmaceutical reps work to educate providers on the product and work to consistently build interactions and relationships, medical device sales teams do not just sell. They continue to play a role in the maintenance, upkeep, and training of their devices over time, whether that’s in a doctor’s office, hospital, or operating room.
- Target customers: Medical device reps work with key decision makers in healthcare markets, often surgeons, clinicians, and doctors. They work with hospital procurement specialists and purchasing teams. In pharm sales, the target customer is typically a healthcare professional, such as a doctor, nurse, or pharmacies who make prescribing decisions.
- Sales goals: Sales are the goal in both fields, but sales targets, as they are referred to in pharma sales, are often based on prescription volume, market share, and revenue growth. In medical device sales, your sales goals are measured in revenue growth, expanding market share, and product-specific adoption while also working to increase client retention.
- Sales cycle: Device sales typically have a longer and more complex sales cycle than that of your pharma sales, which typically are about high volume and faster sales.
- The type of work: Device sales are far more technical and hands-on than what could be expected with pharma work, which is more traditional relationship- and promotional-focused sales.
As you explore the options with pharmaceutical sales recruiters and medical device recruiters, it’s very important to think about the skill set for each of these very different industries.
Medical device sales teams need skill sets focused on:
- Emotional intelligence and trust building
- Clinical and technical knowledge
- Relationship management
- Strong resilience and persistence in a tough marketplace
- Solid communication skills
Pharmaceutical sales teams need similar skills with more focus on:
- Deep scientific knowledge
- Consultative-based selling
- Value-based selling strategies
- Strategic thinking and strong business acumen
- Ability to handle objections and negotiate
To land a pharmaceutical sale, your rep needs to build strong relationships with providers. By comparison, medical device sales reps need to provide hands-on support in board rooms, decision-making teams, and even in the OR. That takes a very specific type of sales rep.
To land a pharmaceutical sale, your rep needs to build strong relationships with providers. By comparison, medical device sales reps need to provide hands-on support in board rooms, decision-making teams, and even in the OR. That takes a very specific type of sales rep.
Industry-Specific Sales Strategies
Sales professionals must tailor their sales methods and communication style to align with the buyer, who is quite different in each of these areas.
What are the unique sales strategies employed in medical device sales? Consider the following:
- Clinical first education: One of the most important elements of any sales strategy, but with medical device sales, it must also be about showing value. That is, why should the customer want to take a step to transform their process to include this device? Deep knowledge in the industry can make a big difference here.
- Relationship building: In pharmaceutical sales, relationships are less important over time. That is very different for medical devices, where the need for extensive relationships built over a long period before and after investment matters.
- Market analysis: In pharmaceutical sales, there is a strong importance on market analysis, and knowing why the doctors or specialists need and benefit from this product over others. That is important with medical devices, but not as heavily.
- Regulatory compliance: All medical industry sales must monitor and adjust to changes in regulations and compliance. However, in pharmaceutical sales, this can be more complex and faster changing.
- Knowledge base: Medical device sales teams must have a strong focus on technical knowledge. They know the device, why, and how it works, and the direct differences between products, and communicate those in the sales meeting. In pharmaceutical sales, teams must have product knowledge and provider insights, a clear level of knowledge of the impact the product offers.
Regulatory and Compliance Considerations
A medical sales rep in any sector must have a solid understanding of regulations impacting not just their product or service, but the implications to the buyer. The regulatory landscape for medical devices and pharmaceuticals is very tight, with expectations that companies will handle extensive research and investment to meet all requirements. Both FDA and international standards exist, both very different, and sales teams need to be able to communicate:
- How their product complies with current industry requirements
- What adjustments must be made as FDA or international standards change
- Whether the product needs updates or is ready to be approved by the appropriate organizations
It is also important for each medical sales rep to be able to communicate clearly to their healthcare providers what impact their device or product has on the provider’s specific ability to remain or become compliant.
Maintaining compliance is essential not only to minimize fees and fines but also for ethical reasons. Ethical sales practices for a pharmaceutical sales rep or a medical device company are essential. A mistake or misleading promise can lead to a long-term impact on the relationship between the provider and the sales agent. This is one area that healthcare providers will not overlook when it comes to honesty and clarity.
Career Growth Opportunities
Both products have a clear need in the world, but the career trajectory and advancement opportunities may differ significantly.
For example, medical sales jobs selling devices require a significant learning curve, especially as specializations and innovations continue to develop. Sales agents also have a longer-term relationship with their customers, which means they will move from sales to management roles more effectively over time. A pharmaceutical sales rep must always be on the cutting edge of new medications and treatment options.
Medical device sales career growth is dependent on deep technical knowledge, moving from associate to senior clinical specialists and into management positions as they do well. Compensation is often lower for those just starting out compared to pharmaceuticals, but the higher commission potential exists for long-term relationships, especially when selling expensive capital equipment.
In pharmaceutical sales, you can expect more horizontal mobility, meaning many work in the same roles but with various products. Some will move into managed care and system-level roles over time. Pharmaceutical sales typically have a higher salary with a more stable base salary and more modest commissions.
Training and Skill Requirements
Education and experience matter, and since both fields require significant education, you can expect medical sales salaries to represent that level of training, knowledge, and skill.
In medical device sales, beneficial certifications may include Registered Medical Sales Representative and Certified Sales Professional tracks. This often means at least a bachelor’s degree, but it is often highly important to have training in operating room etiquette and surgical workflows as well.
Pharmaceutical sales typically require a bachelor’s degree in business or life sciences, but they may not need advanced surgical or in-depth health care skills. The structured training is often very specific to the treatment, disease, and industry they are selling within.
Exploring Sales Careers in Healthcare
It is always a good idea to consider the “why” behind such diverse and complex medical industry careers. Healthcare professionals go into these jobs to provide for the needs of the patient. For a medical sales representative, the same may be true.
Many of those who work in this industry may not handle the day-to-day tasks of caring for people, but they are providing tools and supporting the advancement of care. Careers are diverse and varied as a result.
When you consider that, also think about a few tips for selecting the ideal pharmaceutical sales rep to help your business grow. You want that person to communicate the same message your company stands behind in patient care.
Getting Started in the Medical Sales Industry
With competitive medical sales salaries and a vast area of need, both career paths can be beneficial. Pharmaceutical sales are all about relationships and highly frequent contact, while medical device sales reps will spend more time working to implement their solutions into critical care environments.
At CulverCareers, we help you connect with the team you need to achieve your goals. Learn more about the services we offer now.
