Affordable Care Act Physician Payment Sunshine Act Final Rule: The Rules, Their Impact, and How to Sell in This New Environment

imagesObamacare is being implemented in stages and, as of August 2013, another piece of the legislation – the Physician Payment Sunshine Act Final Rule – has gone into effect. This rule is meant to eradicate any appearance of a conflict of interest for the physician in terms of prescribing medication or medical devices, but it ends up greatly affecting how anyone who sells to the medical industry can interact with physicians.

The Affordable Care Act doesn’t so much focus on prohibiting ways that sales people build relationships with physicians but, instead, creates a reporting burden on the part of the physicians that will make them shy away from many types of interactions with vendors.

Because of the Physician Payment Sunshine Act Final Rule, physicians are now required to publicly report all of the interactions and exchanges with pharmaceutical and medical device reps in the following categories including the receipt of gifts, food and entertainment.

Although the reporting requirements are targeted at the pharmaceutical industry and medical device manufacturers, in reality, even if you are a financial advisor, a home health care agency looking for referrals, or someone selling office supplies, some very basic sales tools are going to be greeted with caution by physicians and their gatekeepers. At Buzzfile, we’ve create an eBook that not only explains these new rules but also offers some commonsense, how-to advice on how to sell in this new environment. This eBook is geared toward small-to-medium businesses and provides both ideas and the tools and resources needed to implement those ideas.

Three Easy Steps Consultants Can Take to Build Their Business…

BF_Mktg_insetOne of the toughest things for small consulting firms is finding the time and the resources to build their business. You’re so busy serving your current clients that blocking out the hours needed to go after new ones seems overwhelming. And, on top of your busy schedule, you may not be sure what’s the best way to create a sales and marketing program that fits your budget.

It’s all simpler (and less costly) than many people think.

1

Start by understanding your own client base. Identify their size, revenue, location and industry. This will let you know where you have been successful and point you in the right direction to find new clients so you can repeat your success.

2Identify prospects that are similar to the ones that you have and look at the size of that market. If you only find a handful of prospects, then you have some great sales opportunities. If you find a few dozen, then use some straightforward marketing techniques to help you create strong leads.

3

Look for suppliers or organizations that can support your marketing plans within your budget.

At Buzzfile, we’ve put together a step-by-step tutorial for small consulting firms that can walk you through these steps. Take a look and let us know what you think and what works for you.