CMR Institute Launches New Course to Enhance Business Acumen of Medical Representatives
Strategies and Tools for Sales Effectiveness will augment representatives’ scientific training
Roanoke, VA (Jan. 5, 2010): CMR Institute, the leading independent, not-for-profit provider of pharmaceutical, biotech, and med device representative education, introduces its newest course – Strategies and Tools for Sales Effectiveness. The course is designed to enhance business acumen and help medical representatives manage their sales territory while understanding business elements that impact prescribing decisions.
“Today’s healthcare environment is focused on maximizing effectiveness and efficiencies. This fosters a need for medical representatives to understand financial decision-making within the framework of cost-management and economic outcomes in healthcare,” says M. Joseph Sirgy, PhD, course consultant and Professor of Marketing, Virginia Tech Pamplin College of Business. “In addition to clinical challenges, the medical community is subject to business pressures and constraints. Representatives who are knowledgeable of drug formularies and the related financial considerations, and can apply solid business principles to their overall strategy are better able to identify valuable opportunities that lead to improved patient healthcare outcomes.”
CMR Institute recognized that medical representatives who could take into account changing financial frameworks and varying economic environments were better prepared to be a resource in today’s increasingly complex healthcare environment. A solid understanding of the business of healthcare and an ability to analyze its evolving landscape also helps improve communication between representatives and clinicians, adding to the representatives’ credibility and value to physicians and other healthcare decision-makers.
Strategies and Tools for Sales Effectiveness is offered to sales representatives, managers, and other healthcare sales professionals who are responsible for business-related projects within the pharmaceutical, biotech and/or med device sales industries. The course builds practical knowledge for preparing a business plan and outlines the principles of accounting and common budgeting techniques, as well as overall project management. Professionals completing the course will better understand how to manage their sales territory and the resources they are given, and they will be able to discuss relevant financial issues with clinicians…all within the broader context of optimizing patient outcomes.
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CMR Institute is the leading independent provider of non-branded education for the pharmaceutical, biotech, and medical device industries and has educated more than 150,000 professionals. Founded in 1966 by physicians in response for a need to increase therapeutic knowledge through scientific education, CMR Institute offers professional development and ongoing continuing education for representatives, manager and other professionals. Its expert content is developed and updated by leading industry experts and distinguished thought leaders from prestigious universities and academic medical centers, and includes key education on science, disease management, ethics, and leadership. CMR Institute’s not-for-profit status allows it to continually invest its resources in its library of education to realize its mission, which is to advance knowledge to enhance healthcare. To learn more about CMR Institute, visit www.cmrinstitute.org.