Pay Cut Anyone?

Edition: January 2006 - Vol 14 Number 01
Article#: 2299
Author: Repertoire

How would you feel if your sales manager told you that your chances of making more money in 2006 were almost nonexistent, and that you would be lucky to earn even the same amount of money you did this past year, even if you worked harder? What if he or she also said your services were just not that valuable anymore, and that your sales efforts next year were going to be supplemented by someone without your level of training or experience, in an effort to cut costs? What if, on top of that, you were threatened with the loss of your job completely if you didnít make large capital investments, with your own money and no guaranteed returns, into the new technology thatís needed to run your territory?

In addition, what if your CEO told you that the costs of doing business were going up significantly in 2006? Things like the cost of insurance, borrowing money, and payroll for those who support your efforts in the field. And what if you were asked to bear these costs, on top of everything else? Not a great feeling, huh? Especially when you still make above average income, and when finding a job as lucrative as your current one would be difficult. It would hurt even worse seeing all of your friends and neighbors knocking it dead as the economy steamrolls ahead.

Fortunately these arenít the circumstances that most Repertoire readers face today. In fact itís just the opposite. Many of you are doing better than you ever have before, as technology has freed you up to make better use of your selling time. However, many of your physician customers, especially your primary care physicians, are facing this exact dilemma today. Their costs are going up while their incomes are going down. Thatís a tough business situation, and it directly impacts your business with them.

As a result, your primary care customers are going to look at you in one of two ways: either as a cost they hope to reduce, or as a resource who can provide them with advice on how they can improve their practices. To position yourself as the latter, you must have a solid understanding of the issues your customers face, and then come armed with solutions that help them solve their problems. We hope to give you some of both in our special series featuring family practice, which begins on page 34. The series will run through March.

We will run additional series later this year on internal medicine/cardiology, pediatrics and OB-GYNs. As with the family practice series, we will do our best to give you an inside look at the issues that drive these specialistsí practices, as well as suggestions you can make that will help them improve their practices clinically and financially. At the heart of this special series will be advice on how to save time and see more patients, and information about new revenue sources and hot products that will help them offset declining revenue. We hope you enjoy it ... and use it!