Three Wise Dames

Marketing in the Life Science Industry

Power of Combining Brands May 11, 2011

A colleague once told me that a health care provider is a value added reseller (VAR) of health care services enabled by great technology. This is no different then a VAR in the high technology computer industry. The best marketing programs for any VAR are cooperative–both parties contribute their brand and budget resources (money and time) to extend the marketing of a given product or service.

The main message is:

Obtain this [national brand] at [your local outlet]

Consumer examples:

Obtain a refreshing Coca-cola(R) beverage at your Main Street McDonalds(R)

Fry’s(R) electronics is an authorized reseller of HP(R) Printers

Health care examples:

Mountain View’s El Camino Hospital now offers the da Vinci(R) Si system for minimally invasive hysterectomy

Essure(R) permanent birth control is now performed in Dr. Mason’s Fresno office

Balloon Sinuplasty(TM) procedures are performed by Dr. Nathan at Southwest Texas Methodist Hospital

The value of the message is the exponential power of two brands joined together. Each has value on its own; however, when combined, the local health care provider legitimizes the availability of the advanced technology and the company provides advanced technology to the local health care provider.

Who wins? Everyone in the chain–the patient gets access to the medical company’s advanced technology from a local healthcare provider. I would propose that public and private payers win also and here’s why.

<Warning: Soapbox Moment>

Finally (thanks Shana Leonard) there is a conversation around devices becoming the new drugs driven off the analysis of the American College of Cardiology meeting by Reuters. Since diving into the medical device industry, I’ve come to believe if a health problem is mechanical then why not fix it with a mechanical solution instead of masking the symptoms with drugs? In many cases, this is a more cost-effective approach. Your thoughts?

(c) eGold Solutions, all rights reserved.

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