Learn how to influence value analysis committees (VACs) to buy your capital equipment solution. Follow these six steps to navigate the sales process successfully.

This is a very convoluted topic. Capital Equipment is a very diverse and specific topic in value analysis. VATs have a rough time balancing value vs. price because, more often than not, they do not use the equipment. They will rely on the user's input on their preferences. Most HCOs will require 3 or more quotes focused on the specific technical requirements and/or warranties, installation, demo of old equipment, building modifications, etc. These VATs are very narrow in scope as to who attends. They will rely heavily on end-user input and market research. And of course, its cost $$$$$

How do you leverage value analysis committees to influence capital equipment decisions?

If you sell capital equipment, you know how challenging it can be to convince decision-makers to invest in your solution. You have to deal with multiple stakeholders, long sales cycles, and complex procurement processes. One of the key factors that can influence your success is the value analysis committee (VAC), a group of clinicians, administrators, and financial experts who evaluate the clinical and economic benefits of new technologies. How do you leverage VACs to influence capital equipment decisions? Here are some tips to help you navigate this crucial stage of the sales process.

1 Understand the VAC's goals and criteria

The first step is to research the VAC's goals and criteria for evaluating new technologies. What are their pain points, needs, and priorities? How do they measure value, quality, and outcomes? What are their budget constraints, purchasing policies, and approval processes? By understanding the VAC's perspective, you can tailor your value proposition, presentation, and evidence to address their specific concerns and expectations.

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Mark Copeland

The Value Analysis Whisperer - Helping you understand how to get your Medical Device product approved in Hospitals and ASCs
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The hardest part has always been knowing who is on the Committee and what priorities THAT committee has. As one expert says.... "When you've seen one Value Analysis Committee, you've seen 1 Value Analysis Committee". Just asking the Committee Members what their priorities are is a big step in the right direction!

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2 Build relationships with VAC members and champions

The second step is to build relationships with VAC members and champions, who can advocate for your solution and influence the committee's decision. Identify the key decision-makers, influencers, and gatekeepers in the VAC, and reach out to them early and often. Provide them with relevant information, education, and support, and demonstrate how your solution can help them achieve their goals and solve their problems. Also, find and nurture champions within the organization, such as clinicians, managers, or executives, who can endorse your solution and share their positive experiences and results with the VAC.

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Alan Burrus

Semi Retired at Consulting
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In my experience, I have found it beneficial to talk numbers to the end user and talk benefits to the finance guys. Both groups want what’s best for the hospital. This way when they all get together, they will understand why your proposal is the best option for everyone.

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Mark Copeland

The Value Analysis Whisperer - Helping you understand how to get your Medical Device product approved in Hospitals and ASCs
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We have interviewed over 40 Value Analysis Members across the country and the one thing we have found is that they still value relationships with vendors they can rely on. Those vendors who understand the VAC team's priorities are the ones who end up being most reliable...

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3 Deliver a compelling value analysis

The third step is to deliver a compelling value analysis that showcases the clinical and economic benefits of your solution. Prepare a clear, concise, and customized presentation that highlights the features, advantages, and benefits of your solution, and how it compares to the current standard of care or alternative options. Use data, testimonials, case studies, and demonstrations to support your claims and address potential objections. Focus on the value drivers that matter most to the VAC, such as patient outcomes, safety, quality, efficiency, cost savings, or revenue generation.

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4 Follow up and overcome barriers

The fourth step is to follow up and overcome barriers that may arise after your value analysis presentation. Stay in touch with the VAC members and champions, and provide them with any additional information, clarification, or evidence they may request. Anticipate and resolve any issues or challenges that may delay or derail the decision, such as technical, regulatory, legal, or contractual matters. Also, monitor the progress and status of the decision, and keep your stakeholders informed and engaged throughout the process.

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5 Negotiate the contract and terms

The fifth step is to negotiate the contract and terms once the VAC has approved your solution. Work with the procurement department and the VAC members and champions to finalize the details of the contract, such as the price, volume, discounts, warranties, service, training, or incentives. Aim for a win-win outcome that satisfies both parties and creates long-term value. Also, ensure that the contract is aligned with the value analysis and the VAC's goals and criteria, and that it reflects the value and benefits of your solution.

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Tim Ingram

Sr. SME | Transforming healthcare by bridging silos and streamlining systems, platforms, people, and data. Solutions for Today's Challenges.
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This is a very convoluted topic. Capital Equipment is a very diverse and specific topic in value analysis. VATs have a rough time balancing value vs. price because, more often than not, they do not use the equipment. They will rely on the user's input on their preferences. Most HCOs will require 3 or more quotes focused on the specific technical requirements and/or warranties, installation, demo of old equipment, building modifications, etc. These VATs are very narrow in scope as to who attends. They will rely heavily on end-user input and market research. And of course, its cost $$$$$

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Mark Copeland

The Value Analysis Whisperer - Helping you understand how to get your Medical Device product approved in Hospitals and ASCs
Report contribution
In our experience it always changes multiple times during the budgeting and buying process. Hopefully as a vendor you have the flexibility needed to tailor your proposal to what the account ultimately needs.

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6 Maintain and grow the relationship

The sixth step is to maintain and grow the relationship after the contract is signed and the solution is implemented. Provide ongoing support, service, and education to ensure that your solution delivers the expected results and meets the VAC's needs and expectations. Solicit feedback, measure performance, and report outcomes to demonstrate the value and impact of your solution. Also, look for opportunities to expand or renew the contract, cross-sell or upsell other solutions, or generate referrals or testimonials from the VAC or the organization.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you leverage value analysis committees to influence capital equipment decisions?

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1 Understand the VAC's goals and criteria

2 Build relationships with VAC members and champions

3 Deliver a compelling value analysis

4 Follow up and overcome barriers

5 Negotiate the contract and terms

6 Maintain and grow the relationship

7 Here’s what else to consider

Capital Equipment Sales

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