The Importance of CPQ for Healthcare

2 min


Healthcare, as an industry, is constantly changing. Pricing and customer needs will vary on a case-by-case basis, and there are dozens of factors that impact prices. In order to provide customers with the best quote and quickly close a sale, many companies have turned to configure, price, quote software, known as CPQ. Below, we’ve outlined some of the ways the healthcare industry can use CPQ software to help improve their sales on a daily, weekly, monthly and even quarterly basis. Additionally, we’ve created a guide on exactly what you should look for when selecting your ideal CPQ program.

How the Healthcare Industry Can Use CPQ Software

Many industries find that utilizing software helps them maintain and improve sales quotas. Healthcare CPQ provides innovative and lucrative features to help secure sales during the first quote – a feat that is often difficult to obtain normally. On average, individuals in the healthcare sales field often spent up to 65% of their time performing research, generating quotes for clients and writing quote proposals. These steps are important, as they generate fair and accurate pricing for customers but take hours and hours away from active sales.

CPQ allows healthcare sales reps to see and compare available pricing options. Additionally, they can customize quotes and rates and compare those to other marketplace options. Ultimately, it gives them the power to quickly, efficiently and easily make a comprehensive benefits package available to potential clients.

Plus, healthcare CPQ makes pricing and, onboarding and renewing especially easy. It often allows you to regenerate contracts based on previous quotes.

What Features To Look For

If you’ve decided your business could utilize CPQ software and you’re ready to take the next step, you’ll want to do some research. There are dozens of different CPQ packages available. Finding one that works for your business, however, is important to ensuring your success. Here are some things you should look for when selecting a CPQ package:

  • Automated pricing and comparison. This feature allows you to select plan elements and generate new plans based on client needs and expectations. Additionally, comparisons will allow you to generate quotes that meet most clients’ needs, allowing you to work within their budgets.
  • Simple add-ons and changes. Features that allow you to take generated quotes and change them are necessary, as well. It gives you the power to create customized quotes quickly and easily, based on current market standards.
  • Contract generation from quotes. Proposal and contract writing is tedious. Software that allows you to generate proposals and contracts directly from your quote reduces the amount of time you’ll spend creating the perfect, customized contract for your client.

The above features will ultimately help you create fast and effective sales that meet your client’s needs.

Conclusion

Ultimately, CPQ makes the sales process easy. Healthcare, a heavily sales-driven industry, has been shown to thrive thanks to healthcare CPQ, as it makes creating accurate and fair quotes and contracts a breeze.


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