Premier earnings-3 things to know, Schein's Bergman on Millennials

Volume 4 | November 15, 2017

Insights-Trends-Opinions

Welcome to National Accounts Weekly! Please enjoy and share with your friends and colleagues.

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I hope you enjoy this issue of National Accounts Weekly!

There will not be an issue next week due to Thanksgiving. The next edition will be November 29, 2017.

16 things I learned about Amazon that Suppliers need to hear

The Journal of Healthcare Contracting held IDN Insights in Seattle, Wa., and I assembled the most important takeaways that Suppliers should know!

I think much is misunderstood about Amazon, and I am doing my best to provide clear and accurate information so Suppliers don't live in a state of fear.

The one thing, above all else, that Suppliers need to understand is that buyers want to buy the way Amazon sells. Is your Company moving that way? Or fighting it?

Swipe, swipe, click!

Click here for the article

Does your LinkedIn profile suck? It better not!

LinkedIn used to be a "nice-to-have" social platform to participate in while you are gainfully employed, and a "must-have" when looking.

Today, LinkedIn is a necessity to build validity with prospects and clients. Does your profile accurately convey you to people, so they have confidence in you?

The attached story gives you a checklist on how to modernize your profile so you don't get lost by today's distracted buyer!

My 3 favorite tips are:

Complete your profile! How hard is that?

Use a good picture for your profile. Not a selfie!

Be a joiner! Join and participate in Groups! Like National Accounts Weekly!

Click here for 20 LinkedIn Profile Tips!

Is United Health's Optum unit ahead of Amazon in Pharmaceuticals?

5 reasons to be concerned....

Optum fills 100 million prescriptions per month
Their revenue is over $200b per year
Employs 22,000 physicians
Owns 400 ASCs and Urgent Care clinics
Parent Company (United Health) covers 45 million lives

This certainly paints a concerning picture for CVS and Aetna

Click here for the article

Stanley Bergman on Millennials

It's high time we stop bashing the Millennials. That's advice from at least one FORTUNE 500 CEO, Henry Schein's Stanley Bergman. He says:

In my experience, Millennials are courageous, forward-looking, insistent, determined, principled, and irrepressible.

Peoples often lament about how difficult Millennials are as children and employees, but rarely think about them as leaders in today's healthcare Supply Chain.

Millennials are now as old as 36 years old and rapidly replacing Baby Boomers in leadership positions. It would be wise to read Mr. Bergman's thoughts on Millennials and find a way to understand and appreciate them.

You can read his full article below.

Click here for the article

5 common pitfalls of contracting with the Government

Contracting with the Government is unlike contracting with any other entity, and the skills needed to do it well are hard to come by.

In fact, I have yet to meet someone that aspired to be the representative for their company to handle the Government. Almost always, they are volunteered to handle the Government.

Whether you have handled the Government for a long time, or are new to it, these 5 tips will help you from making the most common mistakes.

Click here for the article

Premier Q1 2018 earnings released, 3 things to know

1. Revenue increased $390m over same period last year.

2. Net Income rose 4% to $60.6m.

3. Supply Chain services revenue rose 31% over same period last year.

This indicated Premier continues to be a very strong Supply Chain Partner for Suppliers and their members.

Supply Chain customers are voting with their dollars that they continue to see value in Premier's services.

Full Release here

From the Lobby!

This week's survey asked;

The below statement reflects my feelings about National Distributors buying product companies.

A. This is good for Hospitals/IDNs and their patients. 0%

B. This is necessary for Distributors to stay profitable. 22%

C. This is necessary for Dist. to compete with self-distributing IDNs. 13%

D. This is Dist. attempt to continue the strategy of private labeling. 56%

E. Other (please specify) 9%

Surprisingly, no one thought Distributors buying product companies is good for the provider or patients. The vast majority of respondents believe it is a play by Distribution to further their private label programs.

Let me know what you think of these results at email me.

This week's survey asks "What is your biggest concern for 2018?" Remember all responses are completely anonymous.

Click here to take a 30 second survey

2017 National and Corporate Account Executives Compensation Report now available!

The Journal of Healthcare Contracting recently conducted a survey on National and Corporate Account Executives compensation plans in 2017.

The results of this study allow you to compare compensation packages with peers in relation to the area of responsibility and job title.

This report will show you average salary by:

Title
Area of responsibility (by organization or geography)
Number of IDNs/GPOs/RPCs covered
Number of states covered
Employer revenue
Type of employer (Pharma, Med/Surg, Physician Preference, Lab, Services)
Number of direct reports

You can purchase this report using the button below, or for more information, contact Anna McCormick at 770-263-5280.

Click here for more information!

People in the news and on the move!

Greg Firestone is now VP, Strategic Customer Relations at TELA Bio

Cuyler O'Connor is now Key Account Manager at 3M

Stephen Downey joins Vizient as group senior vice president of supply chain ops

Feel free to share!

I hope you enjoyed this issue of National Accounts Weekly. Please send me what you think of this newsletter and if you have news you’d like to be included in the next issue!

John Pritchard

News@NationalAccountsWeekly.com

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