Omnichannel in Medtech

The time is now
McKinsey Article | January 2023

Medtech companies can shift to an omnichannel model of engagement with healthcare professionals (HCPs) and nonclinical stakeholders, such as payers, hospital leaders, and procurement professionals. The COVID-19 pandemic has accelerated the adoption of digital and analytical tools and methods in healthcare delivery, and changed the needs and expectations of stakeholders. Results of a survey of 720 HCPs from different disciplines and regions revealed that 45% expect few in-person interactions with sales reps in the future.

An Omnichannel model can create value for medtech companies by improving stakeholder satisfaction and loyalty, increasing commercial effectiveness and efficiency, enhancing differentiation and innovation, and adapting to the new reality of reduced face-to-face access. Some of the challenges include:

• Finding the right use cases that align with the business strategy and stakeholder needs
• Building the required capabilities and talent to develop and deploy omnichannel solutions
• Managing the ethical, regulatory, and quality risks associated with omnichannel outputs
• Creating a culture of experimentation and collaboration across functions and teams

Some of the best practices include:

• Establishing a clear vision and governance for omnichannel initiatives
• Prioritizing the most valuable and feasible use cases based on a robust assessment framework
• Leveraging external partners and platforms to accelerate the development and scaling of omnichannel solutions
• Embedding omnichannel solutions into the existing workflows and systems, and ensuring user adoption and feedback
• Measuring and communicating the impact and value of omnichannel solutions

Medtech leaders move from isolated pilots to organization-wide scaling now.

Examples of successful omnichannel applications in medtech:

• A global medtech company that used omnichannel to launch a new product and increase its market share by 30%
• A European medtech company that used omnichannel to generate leads and increase its conversion rate by 50%
• A US medtech company that used omnichannel to optimize its channel mix and reduce its cost per contact by 40%

link to article

HCPs tend to expect more personalized interactions with pharma and medical device companies.
The right content and optimal channel in marketing has an increasing importance and benefit for both parties.
Not only omnichannel, but personalized omnichannel appears to be the new level and expectation. ​