Clarivate and Relatable Healthcare Revolutionize Medtech Sales
Clarivate and Relatable Healthcare Forge Strategic Alliance
Clarivate Plc (NYSE: CLVT) has announced a significant partnership with Relatable Healthcare, bringing a transformative approach to the medtech sector. Together, they aim to streamline the sales contracting process for medical device manufacturers and distributors, enhancing efficiency and competitiveness in the industry.
The Power of Relatable™ PRM Platform
At the heart of this collaboration lies the Relatable™ Product Relationship Management (PRM) platform. This innovative tool is designed specifically for medtech companies. The platform serves as a vital resource, providing a comprehensive source of truth regarding product information and competitor insights. It empowers sales, contracting, and marketing teams to work more effectively, driving cost-efficient revenue growth.
Integrating Competitive Intelligence
The partnership with Clarivate allows users of the Relatable™ platform to access detailed market intelligence that their teams can use strategically. This includes critical product specifications, inventory levels, sales materials, and insights into market trends and compliance data. By leveraging this expansive knowledge, teams can make informed pricing strategies and enhance contract compliance.
Expert Insights from Leadership
Andrew Lee, Vice President of Medtech, Life Sciences & Healthcare at Clarivate, emphasizes that the aim of this partnership is to enrich market intelligence for its clients. "By expanding our data analytics offerings, we are poised to accelerate our clients' growth in the medical device sector," he stated. His vision is for this partnership to enable a faster route for vital medical products to reach patients.
Similarly, Joshua Emert, CEO of Relatable Healthcare, advocates for the value of intuitive software solutions. He believes that their innovative approach helps medical device companies modernize workflow across various departments. Emert remarked that this partnership enhances their ability to respond swiftly to competitive pressures in the market.
Adapting to a Challenging Landscape
The evolving healthcare landscape presents unique challenges for medtech companies. These organizations are under constant pressure to communicate the value of their products effectively while navigating a dynamic market. As healthcare providers tighten their budgets, the need for precise and up-to-date competitive intelligence becomes even more critical.
As a solution, medtech organizations can benefit from this collaboration, which offers enhanced visibility into the market. The integration of Clarivate's insights with Relatable's software capabilities equips these companies with the necessary tools to confidently present their offerings and respond to requests for proposals more effectively.
Streamlining Commercialization Processes
This strategic partnership allows medical device companies to better serve Integrated Delivery Networks (IDNs), Group Purchasing Organizations (GPOs), health systems, hospitals, and clinics. Through improved data management and insights, vendors can streamline commercialization processes and capitalize on new business opportunities.
The combined offerings of Clarivate and Relatable create a powerful synergy that aids medtech organizations in contract compliance and enables them to deal competitively in this fast-paced environment. Ultimately, this collaboration is set to reshape how medical device companies conduct their sales and contracting processes.
About Clarivate
Clarivate™ is a renowned global provider of transformative intelligence, offering enriched data, insights, and analytics across various sectors, including life sciences and healthcare.
About Relatable Healthcare
Relatable Healthcare specializes in innovative Product Relationship Management solutions for the medical device industry, providing processes that enhance revenue efficiency.
Frequently Asked Questions
What is the purpose of the partnership between Clarivate and Relatable Healthcare?
The partnership aims to streamline the sales contracting process for medical device companies, enhancing efficiency and competitiveness in the marketplace.
How does the Relatable™ platform assist medtech companies?
The Relatable™ platform acts as a comprehensive data management tool, providing critical insights into product specifications, competitive intelligence, and compliance tracking.
Who are the key figures behind this collaboration?
Andrew Lee, VP of Medtech at Clarivate, and Joshua Emert, CEO of Relatable Healthcare, are the leading voices advocating for this partnership.
What challenges do medtech companies face in today’s environment?
Medtech companies face pressures to effectively communicate product value while navigating cost constraints and the evolving needs of healthcare providers.
What benefits does this partnership bring to healthcare providers?
Healthcare providers benefit from enhanced visibility into competitive offerings, allowing for better-informed purchasing decisions and improved product choices in a constrained budget environment.
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