The face of healthcare industry is changing albeit in a gradual manner. Both healthcare providers and manufacturers are standing today at a crucial juncture of the transformation shaping the domain. If hospitals have the technology to shuffle their procurement strategy, then the same ecosystem is the motivation for big pharma companies to grow their reach and penetrate deeper into the markets and regions. To both set of players, online pharmacies have proven to be the real catalysts giving them ample of prospects to grow and cater their respective segments with aplomb. So, manufacturers can benefit from the tech innovation and make the most out of the changing landscape.
Let’s look at how online pharmacies can help healthcare manufacturers grow their base and reach –
Listing on a big platform with global reach
Pharma companies are now not required to spend money on advertisement as they can trust online platforms to easily grow their base manifold with any substantial investment. They just have to find a right partner and then list their products on their platform so that it can be visible to a bigger and wider audience. This will be the best way to have the reach to all parts of the country and even get prospects from across geographies.
Enhancing the visibility of medical equipment
Online pharmacies are a great concept for manufacturers to benefit from and boost the visibility of their equipment. So, companies can now expect each of their products to be seen by hundreds of thousands of users and this is how sales can get a boost. Earlier, this kind of exposure was not possible for any company dealing with medical equipment but the technology has changed the way instrument is bought today.
Low costs to sales ratio
Earlier, medical companies had to manage the menace of fragmented demand which resulted in relatively high costs to sales ratio. Thanks to the arrival of online pharmacies, it’s possible to have low costs to sales ratio and make the business profitable. The demand will rise so do visibility since all medical products are visible to customers on a 24×7 basis. So, they can hope to manage a fine balance between costs to company and cost to customers.
Full control over end prices of medical equipment
The conventional distribution model of medical equipment was such that healthcare manufacturers had little control over the end prices of their equipment and instruments. The supply chain was intricate involving several layers and players with all the shots called by the supplier in the pyramid. So, any price advantage intended for end users could never materialize resulting in price variation from the source of origin to final customers.
A potential to deliver value to customers
Online platform is a great opportunity for manufacturers to deliver value to customers. They can now hope medical instruments online to reach to end users with price and quality benefits together. Easy delivery is possible, discounts is possible and reaching to every market is a reality which could help pharma companies grow a lot.