Medical Device Sales Salaries are rapidly decreasing

Are you all noticing that the field sales force in your company are getting squeezed? Can someone explain what is happening please? I am noticing this with the top 50 mega large companies. Is this related to the contract driven climate of the current healthcare landscape. This absolutely sucks. This used to be a fun industry and now the stars need to align in order for our sales force to hit 3 different product category buckets and receive comp that isn't even tied to total business.

Where are the more lucrative jobs outside of the industry now? I'm thinking tech or software?

How can we leverage our numbers to combat the massive reduction in device salaries?

 

You can’t!

 

Rep salaries ultimately come from the insurance companies. When the health insurance industry was booming, with lots of employment and "platinum package" benefits plans paid by employers, hospitals were getting reimbursed well and could pay for lots of gadgets and gizmos. Obama and Pelosi ended the frat party when they decided that jobless people contributing nothing to the economy should reap the same benefits as those who are paying into the system. So "revenue" stays the same but "expenses" go way up. This never really panned out, but in a panic the insurance companies immediately looked for ways to pay hospitals less, deny "experimental" procedures, bundle in post-op care, bundle in the cost of implants and devices, etc etc. resulting in what we now call "value-based care". The insurance companies are SMARTER than Washington, and they got ready for a doomsday that never really happened. So here we are. Hospitals get less from insurance, so Medtronic gets less from the hospital, and you get less from Medtronic.

 

https://www.axios.com/profits-are-booming-at-health-insurance-companies-1513302495-18f3710a-c0b4-4ce3-8b7f-894a755e6679.html

 

Thank you so much bro! I guess I should look into aligning myself within a role at an insurance company lmfao. They really seem to run shit across all industries these days.

 

Obama caused this? MAGA. Let me guess...No collusion!

 

Not according to Med Reps, salaries and overall compensation increasing.