Mark Mescher, MedScout - Transforming Healthcare Claims Data Into Actionable Insights | LSI USA '24

Mark Mescher  0:05  
Thanks for the opportunity. So Mark    Mescher, I'm with MedScout. Vice President sales come from a long med device background, myself both selling and managing, had the opportunity to transition about the last third of my career so far into the digital health and Software as a Service. So MedScout is a software as a service. For the med tech space, we pull in all the procedural diagnostic data, prescription information, open payment data, and put it into very usable form as actionable insights for sales rep, sales, management, marketing, and sales ops to really utilize in a much more intuitive way than the historic data providers that are out there. The context I want to put this in, has to do with the Time Dilemma within medtech. There are certain aspects within med tech that increase the likelihood of success. Certainly, if you as an organization have the wisdom to understand the landscape of healthcare, how to navigate things that go on within the landscape, and how to get products to market and be successful on the commercial front, that's helpful. And certainly just that knowledge and how you go about those tasks on a daily basis can be very helpful. But these two things exist over a period of time. And we know that within healthcare time is not our friend, when it comes to regulation, getting approvals, sales process, and things of that nature. So what is the thing that's going to help you speed up the process in healthcare, and that's intelligence. And what I want to talk about today, I'm not going to get so much into the weeds with regard to the data itself, as much as how we use the data. And I'm going to use our sales and sales management, as an example of how we use the data and our platform to really empower and enable teams to really grow and have perspective on the sales maturity model that we use. Level one is obviously building pipeline, that's pretty much standard table stakes across the board. How do you go about building those pipelines and driving opportunity and figuring out who the right targets. But really, we want to be able to arm people with insights. So before you go into those calls, making sure you have good understanding of everything you need to understand about those individuals. And then even further into the platform, a lot of our clients get very deep into the referral data. So understanding referral patterns where patients are coming and going their diagnosis and things like that. And then how do you become truly a trusted partner through this process with your customers? Quick story, I was talking to a rep from one of our clients this past week, he had a doctor who did a little bit of business with call him recently because he had worked with our platform as a sales tool with that doctor to uncover a lot of data on his behalf. That doctor was going into private practice on his own. His first call was to this rep, because he knew he had this data and wanted to understand ideally, where should I put my practice to really find a gap in the market? And then what is the referral network around that look like? Certainly that creates a very trusted partnership between that rep. That doctor and the opportunities that are involved. So what does this look like? As you go forward building pipeline, a lot of companies stop at something simple as, hey, here are the CPT procedure codes that are associated with our product, who's doing the most volume of that those are ideal targets. But you need to be able to go a bit deeper and understand more layers of it, does the ASC come into play? And who is going to the ASC at what volumes which excuse me, which ASC is, and what opportunities exist? Are these individuals in any way, getting royalties or consulting agreements with your competitor, uncovering that information quickly to rule people out can be very helpful as well. So there's a lot of criteria to go through to really uncover what's the ideal customer profile? And then how do you quickly filter stack rank and understand both geographically and through the data in a very actionable insight, intuitive way? Who are the ideal targets you should be going after? And then how do you arm them with insights when you go after those ideal targets? It's one thing to understand what are the volumes who are busy surgeons with regard to the particular procedure? But what if you understood the full understanding and the landscape of that provider? As far as all the procedures they're doing? What are the types of patients and disease states that they see the most of? And that referral network that we talked about? And just diving really deeply into all that understanding of when you go talk to that particular target? You've got a much deeper story to tell a conversation have and you're asking far fewer discovery questions, and are much more into that consultative sell. A lot of our clients dive deeply into this from a strategy perspective and using There's a sales tool to sit down with their doctors who often don't understand their referral network and where their patients are coming and going, or for that matter where patients are going instead of to them. So we dive pretty deeply in helping our clients help their customers in that regard. And all this really builds up to how do you then become that trusted resource to your customers? As a rep so we really drive home through our partnership. How do we drive this maturity model to help sales, sales management work with sales to really get to this point? Thank you