Cleared for Business LLC, Delivers 10 x ROI to Healthcare Suppliers and Medical Device Companies.
Sales & service professionals are gaining one week of productive time, while their companies are saving $3,000
or more for each vendor representative dealing with vendor credentialing.
ATLANTA, GA, March 24, 2011
Vendor credentialingpolicies are set by medical facilities to document and manage the increasing
number of vendors entering their facilities. These policies are designed to ensure
quality of care and protect the safety of the patients. However, for the suppliers,
maintaining these credentials is extremely time consuming, and thus it
can cost thousands of dollars for each individual representative.
Tim Chambers, North American Director of Sales for Cleared For
Business (CFB) further explains how some savvy healthcare and medical
device companies are getting 10x ROI on their investment. "Let's take
a look at the math:
(1) Assume a sales/technical representative's salary is $50,000;
adding commission, bonus, business expenses, and benefits can easily
total around $150,000 per representative. This translates to about
$3,000 per week for one representative.
(2) Annually a representative spends 40 to 60 hours (1.0 to 1.5 weeks)
on vendor credentialing; this translates to $3,000 to $4,500 a year
spent on maintaining vendor compliance.
(3) Outsourcing these administrative tasks and having Cleared For
Business to manage your vendor credentialing can save 80% of the
representative's time at a cost of ONLY $349 per year.
(4) The representative will regain 32 to 48 hours, which equals to
approximately one week. One week translates to a savings of $3,000.
Looking at it another way, a supplier can create one additional week
of high quality productive time, whether it is face-to-face sales call
or important technical/service time for the client hospital. This one
week can translate to a significant opportunity for new business.
Suppliers can also reduce risk by staying in compliance with their
client hospitals. So, there is about 10x or more ROI leverage on your
money spent".
Cleared For Business, LLC helps healthcare suppliers and medical
device companies with administrative tasks of vendor credentialing.
Company's mission is to proactively manage the credentialing issues,
reduce risk, and save thousands of dollars from the bottom line.