5 Reasons to use CPQ for Healthcare

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Control pricing

With the ever-changing rules on the pricing of prescription medication and other healthcare services, companies with a high service delivery demand have a hard time sorting out their pricing. As such, the sales representatives spend hours trying to make adjustments and configure the new prices such that they are often subject to errors. However, with the CPQ software, these companies can comfortably maintain the required pricing while still delivering their services to clients.

Formerly, health facilities lost incomes due to revenue leakage. Once the sales representatives closed a deal and received the products, the payments had to be invoiced. In the process, the facilities incurred revenue losses. CPQ software allows representatives to handle all the made records and invoices accurately.

For manufacturers working with pharmacies hospitals, surgical centers can fast and conveniently control their product pricing and keep up with discounting trends and amalgamation.

Beat the Competition

Unadjustable sales tools delay the configuration of new products in the markets affecting healthcare productivity and sales margin. Sales representatives have a hard time dealing with complex products that need quotes and prices. With CPQ, you can generate accurate quotes and prices fast, with no need for the customer to wait for hours to get a particular product’s pricing. It makes you stand out over your competition and increase your sales margin. In sales, visuals are of great importance for products to sell; healthcare cpq lets you give customers and healthcare facilities a 2D- visual walkthrough of the available product configuration with various colors, finishes, and materials. Customers can view their products under high-resolution photo-realistic images.

Manufacturing of medical pieces of equipment

With the need for quality over quantity in healthcare services delivery, medical pieces of equipment are necessary, and every healthcare practitioner is striving to acquire them. In this regard, it means there is no room for errors in the manufacturing of medical pieces-of-equipment. It is a process that requires accuracy and precision; this is where the healthcare cpq comes into play. The software can accurately create visual models and configure products to present the required models for the equipment and other products and get instant approval.

Service renewals

In healthcare insurance, with the help of CPQ, the sales representatives can effectively plan on renewals. Creating a report of all the current contracts can develop a check box that allows them to view the almost expiring plans and process their renewals with a simple click. The CPQ creates the renewals opportunity with the same plan option as the expired one and sends it to the specified account manager.

Another thing is that CPQ lets you phase out old plan options. It allows you to replace the phased-out plan with a new plan option. When an account manager renews their plan with an expired option, the software automatically flags the expired option and replaces it with the new one.

Effective management

CPQ allows healthcare facilities to create a back-end system to manage their overall pricing, quotation, and organization rules. That way, the sales representatives can work out all products’ pricing and deliver swift customer experiences. The software also allows the facilities to integrate their sales, engineering, and back offices as one application that delivers transparency in the facilities’ daily running simplifying the maintenance tasks.

The software also allows healthcare providers to view their patients’ medical history, and as such, they can prevent medical errors such as the wrong dosage. It also creates an avenue in which medical practitioners can team up and create service plans that suit their clients.

Conclusion

With CPQ software, healthcare facilities can navigate tier sales to keep up with the pricing and discount trends. It eases up the sales representative’s tasks in plans renewals and helps them have a better overview of the organization.

 

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