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- Weekly Newsletter - 10.23.2024
Weekly Newsletter - 10.23.2024
Adapting Tech Innovations from Insurance to Healthcare Sales
The healthcare industry is complex, and so are the demands on its sales teams. Hive Perform’s report, 2024 Pulse of Sales: How to Stay Ahead in a Changing Game, explores how healthcare sales teams are using AI and sales intelligence to stay compliant and deliver high-quality customer experiences.
Data Point: "69% of sales professionals say external factors like regulations and supply chain issues are making it harder to sell," according to Salesforce’s State of Sales report.
Why it matters: Precision and compliance are crucial in healthcare sales. Hive Perform’s report shows how healthcare sales teams are adapting to these challenges by integrating smarter tools and continuous learning.
Key Takeaways:
AI is helping healthcare reps analyze complex data and tailor their approach in real-time.
Continuous learning ensures teams stay compliant and ahead of regulatory demands.
Tailored sales training is helping reps navigate intricate product portfolios and meet client needs effectively.

EDITOR’S PICK 🌟
How technology trends from insurance can enhance sales processes for healthcare providers.
1️⃣ AI for Patient Engagement: Automate support tasks to free up time for more complex client interactions, ensuring a seamless patient journey.
2️⃣ Data-Driven Decisions: Utilize data to better understand patient needs and improve service delivery, similar to how insurance sales teams are refining their approaches.
3️⃣ Digital-First Self-Service Options: Patients expect digital-first solutions, from scheduling to consultations; integrating self-service tools can streamline these processes.
Find out more about applying these insights here.

INDUSTRY INSIGHTS 🌐
Pharmaceutical marketing is evolving with digital transformation, personalized medicine, influencer partnerships, and AI-driven strategies. These trends enhance patient engagement, optimize marketing efforts, and ensure compliance with regulations. By 2025, these innovations will redefine healthcare delivery, fostering trust and improving outcomes in a competitive landscape.
Amanda Powers-Han emphasizes the importance of personalized marketing in pharma, highlighting AI's role in extracting insights and ethical practices. She discusses challenges in measuring ROI, focusing on connecting marketing efforts to business outcomes through NPI data and collaboration, ultimately enhancing healthcare professional engagement and prescription behavior.
AI's integration in biotech enhances research, logistics, and clinical trials, offering significant ROI. Experts highlight AI's role in speeding up discovery and improving efficiency. Despite challenges in adoption, AI's benefits in data analysis and collaboration are clear, making it a valuable tool for the industry.

INDUSTRY NEWS 📰
Johnson & Johnson's strong Q3 earnings set a positive tone for the biopharma sector, with oncology driving growth. Eli Lilly and Pfizer are expected to outperform, while Moderna faces challenges. Analysts anticipate shifts in the weight-loss drug market and await further insights from upcoming earnings reports.
PureTech Health's hub-and-spoke model has proven successful, notably with Karuna Therapeutics. Despite financial success, PureTech faces a market value disconnect. The model allows efficient resource use and risk management, but ownership dilution challenges value recognition. PureTech remains focused on therapeutics, emphasizing unmet needs and derisked assets.

Sales Intelligence is a Contentive publication in the Sales & Marketing division