Randy Prather | (Former) President and CEO | MediPurpose

Although the MediPurpose business model is primarily structured to distribute our medical products through a multitude of domestic and international healthcare distributors, over the years, MediPurpose has become completely proficient and skilled as a distributor in its own right.

This notion of being able to facilitate, manage and direct all areas of medical product distribution is something that Webster might say makes us a master distributor.

However, calling ourselves a "master" distributor is a pretty strong claim—especially when considering the magnitude of our competitors and the strength of our medical product distribution partners—but I believe it is an appropriate label, particularly in the context of our medical product distribution capabilities. For instance:

• In a previous blog, I wrote about our ability to enter multiple channels through multiple medical product distribution partners for the same medical product, thereby increasing market penetration, eliminating channel conflict and maximizing our products' availability.

• Our extensive partnerships allow us to get our medical products into virtually every department within an acute care setting—as well as within alternate care, POS and long-term care facilities.

• As the manufacturer of the SurgiLance® Safety Lancet, we have established both the contract manufacturing relationships and logistical capabilities to get our medical products from them to our warehouse...and then again out to our customers.

• Our medical product acceptance has driven the inclusion of our products within most major medical GPO contracts.

• Our comprehensive understanding of the regulatory requirements (both from a manufacturing/ISO and FDA/CE perspective) is clearly established.

So, as I discover what it truly means to completely proficient or skilled at marketing medical products, MediPurpose will continue to develop its position as a master distributor.

Over the years, I've worn both distributor and OEM hats—and whether for my own company or for the numerous other companies that we have assisted, I have routinely been faced with the same difficult decision: Which company can best serve me in getting my medical product to market?

To resolve this quandary, I typically consider a number of key concepts and criteria, including:

• The product: For example, is it a unique medical product with specific features that requires detailing, or is it perhaps more of a "me too" product that would likely be intuitive to the typical end user?

• Available margin: Some medical product dealers and/or resellers require very high margins, while others are more eager to sacrifice some of that margin, particularly if the product offers them marketing advantages and/or fills a product gap within their segment product offering.

• Channel conflict: For instance, Distributor A—who is a major player and has consider cache in medical product distribution—agrees to take on your medical product, but with one condition: They want exclusivity or don't want you to do business with their competitor, Distributor B. Is the reduction in market potential and access worth the compromise?

• End user: Every company has their "best call points" within the facilities on which they call. Choosing a company that "services them all" or does not currently call on the "best call point for your product" is clearly a formula for "no sales," or at best, "less than desired sales."

I recently used this very set of criteria to develop a "market launch redo" for a medical product company that was in an unfortunate agreement with a large "box mover."

The company's limited-margin availability had compelled them to participate in an exclusive agreement-which drastically diminished their anticipated market/unit sales and handcuffed them after their product languished on shelves.

As MediPurpose celebrates its first 10 years in business—and perhaps because this is also the end of the year and the close of a decade—there's been a lot of reflecting around the office.

Like with MediPurpose founder and CEO Patrick Yi's recent blog, my contemplations have toggled between reviewing our company's success and the trajectory of my own career—including the last four years that I've spent at MediPurpose.

Similar to most senior sales and marketing professionals, I have worked for a range of companies that span a spectrum of sizes, scopes and requisite responsibilities. Although I don't have any illusions of having complete clarity with how MediPurpose achieved its success, I do believe that my experiences have given me some perspective.

More specifically, my current perspective is that there are three fundamental reasons for why MediPurpose has not only survived, but has thrived and is poised to continue doing so for another 10 years and beyond. After all, an estimated 50 percent of startups fail, and MediPurpose has had the additional challenge of being a single-line medical device company in a field of Fortune 50 healthcare titans.

Reason #1: MediPurpose has Always Been Customer-Centric

This exceeds the standard "the customer comes first" credo. Any business that doesn't put the customer first is doomed.

A company that wants to do more than "not fail" and truly achieve success must be customer-centric. To me, "customer-centric" sensibilities means:

• Embracing an honest, straightforward approach to problem solving that simultaneously puts in a fix to prevent the problem from resurfacing.

• Always assuming accountability in the eyes of our customer.

• No excuses. No fluffy explanations.

Reason #2: MediPurpose Founder CEO Patrick Yi has Never Forgotten His Experiences as a Struggling Entrepreneur

Remaining grounded to those early years-in spite of our 10-year success-has produced a unique workplace culture.

Not only is there still a sense of excitement and discovery in our ongoing business our first product, the SurgiLance® Safety Lancet, but it's fostering a sense of empathy and understanding for new medical device inventors within our Medical Device Innovation division, as well as with medical product companies looking to bring medical product innovations to the market through our Medical Product Distribution Services division.

Reason #3: People Come and Go in All Companies

The litmus test for a company that claims to provide the nurturing environment for the good to get better is when its talent comes back after spreading its wings.

I've seen it at MediPurpose quite recently with the return of VP of Sales and Marketing Mark Stoppenbach. His return reinforces the notion that although we will always learn from our mistakes, we fortunately make more wise decisions than not.

Pleasin' Reasons

Although I would agree that this is certainly not an exhaustive list of factors for success at our company, I will say that they are essential elements.

In my entire career, I have seldom seen them all come together as consistently and effectively as they have at MediPurpose, and that alchemy has me very excited for the next 10 years.

Although I'm passionate about what I do at MediPurpose and have admittedly been quite successful with our medical product marketing and distribution, it's not my style to pontificate, to offer unsolicited advice or to act like I'm an expert. This might seem a bit contradictory for somebody whose job primarily involves promoting and selling medical products!

However, it is my style and a critical component of my job to discover, analyze and integrate as much as I can about medical device innovations and medical product distribution channels and markets—which is why I am looking forward to exploring a number of frequently asked questions about medical product distribution, such as:

• How do I avoid medical product distribution channel conflict?
• Is my medical device appropriate for a medical product GPO contract?
• How do I chose the appropriate medical product distributor?
• What exactly is a "commodity," especially in the context of medical devices?

Since a blog is interactive—and since I don't want to dominate the conversation or pontificate—I'm hoping that as I provide you with my insights and perspectives, you'll use them to inspire your own insights and perspectives to share with me and the other medical device innovators that will hopefully be regular visitors to this blog.

With that said, I invite you to subscribe to the RSS feed so you can be alerted when a new blog is posted. And again, when they are, don't hesitate to comment or share your thoughts...even if it's not your style either! Together, we'll hopefully learn to make it our style to share our thoughts, ideas and yes, expertise.

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